Dried Pistachio Snack Market Size Forecast to Reach $1,432 Million by 2027
Research Reports
Apr 08, 2022
Global Dried Pistachio Snack Market Overview
The Global Dried Pistachio Snack Market size is estimated to reach $1,432 million by 2027. Furthermore, it is poised to grow at a CAGR of 4.6% over the forecast period of 2022-2027. Pistachios are edible seeds that contain a good amount of protein, carbohydrates, saturated fatty acids, potassium, dietary fiber, and antioxidants. Pistachio helps in reducing the risk of cancer, diabetes, and many other diseases. Pistachios are one of the oldest edible nuts which are commonly used all over the world. Pistachios are a type of dried nuts, a hard outer shell, and a sweet kernel inside that are commonly eaten as a snack. Pistachios have a number of health benefits, including improved digestion, weight control, macular degeneration prevention, and hypertension prevention supporting the Global Dried Pistachio Snack industry. It also improves the health of the blood, the brain, and the skin. Pistachios are abundant in monounsaturated fat, fiber, thiamin, vitamin B6, as well as minerals including phosphorus, potassium, copper, manganese, and have a great flavor. Nowadays, pistachio is used for snacking purposes. Pistachio is also used in oat bars that make its taste slightly sweet, nutty, oaty, and very delicious. Pistachio helps in reducing weight as it contains unsaturated fat which curbs hunger and cravings. Pistachio quality has also improved in recent years which has led to a 10% increase in consumption for the snacking category. The robust growth in the use of pistachio in snacking, bakery, cooking, confectionery, and others. are some of the factors driving the global dried pistachio snack Industry forward in the projected period of 2022-2027.
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Global Dried Pistachio Snack Market Segment Analysis – By Product
The global dried pistachio snack market based on the product can be further segmented into Original, and Flavored. Flavored held a dominant market share in the year 2021. Recently, the trend of consuming healthy snacks increased but people need some snacks which are healthy as well as tasty also. So, manufacturers offer a variety of flavored pistachio snacks which makes consumers attracted towards the product and thus increases the sales of the product. There is a variety of flavors available such as salted flavored, pepper flavored, saffron-flavored and many more so, consumers have more options to choose their flavor. These factors help in surging the adoption of flavored dried pistachio.
However, Original is estimated to be the fastest-growing, with a CAGR of 5.9% over the forecast period of 2022-2027. The demand for original dried pistachio snack increases as it is pure and does not contain any unhealthy ingredients. Recently, people are suffering from many diseases such as cancer, diabetes, etc. which gives rise to the use of original products which is healthy. Thus, the adoption of the original dried pistachio snack increases rapidly.
Global Dried Pistachio Snack Market Segment Analysis – By Distribution Channel
The global dried pistachio snack market based on distribution channels can be further segmented into Supermarkets, Specialty Stores, Online channels, and Others. Supermarkets held a dominant market share in the year 2021. Supermarkets held a dominant market share in the year 2021. It is owing to various factors such as increased consumer awareness of health benefits which will lead them to purchase dried pistachio and the availability of a variety of flavors helps to satisfy taste requirements. Over the next decade, these factors are expected to drive this segment’s growth. This application is applicable to all retail establishments, including supermarkets and hypermarkets.
However, Online Channel is estimated to be the fastest-growing, with a CAGR of 6.2% over the forecast period of 2022-2027. Recently, people are preferring to buy products online as they don’t have enough time to visit shops owing to their busy schedules. In today’s generation, technology is advanced so people are using more online channels to buy a variety of products. In online sales channels, there are suitable options for every taste requirement so, it becomes easy for customers to choose according to their needs. This factor gives rise to the adoption of online channels in day-to-day life.
Global Dried Pistachio Snack Market Segment Analysis – By Geography
The global dried pistachio snack market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 39% in the year 2021 as compared to its other counterparts. It is owing to rising trends of consuming healthy snacks as people are concerned about their health which increases the use of dried pistachio snacks. In North America, the climate is hot, dry, and moderately cold winters which increase the production of pistachio as the weather is ideal for growing pistachio. Recently, the consumption of pistachio increased rapidly in the U.S. which gives rise to the use of pistachio for snacking purposes. Owing to such reasons, the projected period of 2022-2027 would prove beneficial for North America.
Global Dried Pistachio Snack Market Drivers
Rising trends of consuming healthy snacks have readily aided the market growth
In contemporary society, people are becoming more conscious of their health. Also, following a balanced diet plays a significant part in regular body functioning and maintaining health, which has led to an increase in the consumption of dried pistachio snacks in recent years. Pistachios provide a number of benefits, including a lower risk of cardiovascular disease, diabetes, as well as enhanced digestion, immunity, anxiousness, all of which helps to aid in body metabolism. One of the most noticeable trends in the worldwide pistachio market is that numerous food companies, particularly in the snack and dessert industries, are focusing their efforts on developing pistachio-flavored items in order to capitalize on flavor. The demand for on-the-go nutritious convenience foods and snacks is increasing owing to changing consumer lifestyles, increased urbanization, and high disposable income. Rapid urbanization changed consumption habits among consumers and boosted their willingness to spend. This, in turn, is increasing disposable money among consumers, resulting in greater spending by the ultimate consumer on healthy snacks.
The growing vegan population is set to drive the market growth
Growing consumer interest in plant-based products and shifting customer attitudes toward meat substitutes helps to develop the industry. Recently, the vegan population increased by 40% in 2020 which gives rise to the adoption of plant-based products and thus increased the need for dried pistachio snacks products. Companies are also focusing on manufacturing products that are vegan-based as people are looking for more plant-based products. In 2020, the sales of plant-based products increased by 27% which is further surging the demand of the global dried pistachio snack market.
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Global Dried Pistachio Snack Market Challenges
The high cost of pistachio snacks is one of the factors impeding the market growth
The high cost of pistachio is owing to its long time to grow and requires more labor. Recently, the demand for pistachio is increasing rapidly and in order to meet this demand, the producers of pistachio need to wait for years before harvesting a new crop of nuts. Also, it is difficult for pistachio farms to expand or increase their business and growing production capabilities which further increases the prices of pistachio. In India, the price of pistachio is in the range of Rs900- to Rs 960 per kg which is very expensive and thus hampering the market growth.
Global Dried Pistachio Snack Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Global Dried Pistachio Snack Market. Global Dried Pistachio Snack top 10 companies include:
- Wonderful Pistachios
- Omay Foods
- Setton Farms
- Bajaj Food Group
- Kraft Foods
- Rosca Pistachio
- Forest Feast
- Eden Organic
- Frubee
- Bai Cao Wei
Recent Developments
- In March 2021, Wonderful Pistachios launched two flavors to balance sour and savory in pistachio which increases the adoption of pistachio snacks among consumers. In addition, pistachios are known for their protein powder, fiber, and unsaturated fats for a combination that helps to keep people feeling fuller longer.
- In December 2020, Setton Farms announced the debut of three new dark chocolate varieties to their growing selection of pistachio offerings. This dark chocolate with pistachio helps people to satisfy their cravings.
Key Takeaways
- Geographically, North America held a dominant market share in the year 2021. It is owing to rising trends of consuming healthy snacks as people are concerned about their health which increases the use of dried pistachio snacks. In North America, the climate is hot, dry, and moderately cold winters which increase the production of pistachio as the weather is ideal for growing pistachio. Recently, the consumption of pistachio increased rapidly in the U.S. which gives rise to the use of pistachio for snacking purposes.
- The robust growth in the food industry has increased the adoption of dried pistachio are some of the factors driving the dried pistachio snack Market. However, the High cost of pistachio is one of the factors impeding the market growth.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Dried Pistachio Snack Market Report.
Relevant Titles
A. Pistachio Nuts Market- Forecast (2022-2027)
https://www.industryarc.com/Research/Pistachio-Nuts-Market-Research-513905
B. Packaged Nuts & Seeds Market- Forecast (2022-2027)
https://www.industryarc.com/Report/15489/packaged-nuts-seeds-market.html
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