Walnut Market Overview

The global Walnut Market was valued at USD 7.88 billion in 2023 and is likely to reach USD 13.20 billion by 2032, increasing at a CAGR of 5.9% from 2024 to 2032

Walnuts are spherical, one-seeded drupes from the walnut tree. They ripen between September and November in the Northern Hemisphere. Walnuts have a brown, wrinkled shell that is wrapped by bark. Commercially available walnut shells typically contain two segments, but can also have three or four. During cooking, the skin becomes brittle and the crust hardens. The shell encloses the core or pulp, which is often split into two parts separated by a membrane septum.

The kernels of shelled walnuts are wrapped by a brown seed coat containing antioxidants, which protect oil-rich seeds against rancidity and atmospheric oxygen. Walnut trees often have late leaf growth, lasting until mid-spring.

Advancements in walnut processing include a 'Walnut Splitting Machine', as well as a 'Walnut Peeler, Washer, and Sorter' to streamline production and reduce labour for those involved in walnut handling. This is a niche occupation in Jammu and Kashmir, Ladakh, Himachal Pradesh, Uttarakhand, Sikkim, and Arunachal Pradesh. These have also assisted persons in the industry by allowing them to deliver fresh components to domestic and international markets by breaking walnuts of various types, such as paper-shelled, thin-shelled, medium-shelled, and hard-shelled, efficiently and effectively. This creates a difference in how they expand their business by exporting and advertising the consumable natural product interior rather than the shelled walnut, so making the ultimate item more appealing (easy utilization).

Walnut items refer to various culinary and non-food products manufactured entirely or primarily from walnuts. These include, but are not limited to: walnut oil, walnut flour, walnut butter, walnut drain, walnut snacks, and walnut-based cosmetics. Walnut products have grown in popularity over the years due to their numerous health advantages and versatility in culinary applications. The walnut item advertising appears to be a good development from both present and future perspectives. The growing awareness of walnuts' health advantages, such as improving heart health, increasing cognitive function, and reducing irritation, has been a key driver for market growth. Buyers are increasingly looking for more favorable options, and walnuts have emerged as a popular choice for maintaining a balanced lifestyle.

Global Walnut Market, Segmentation

The Walnut market is segmented on the basis of By Product Type (Black Walnut, English Walnut), By Form (Raw, Processed), By Category (Shelled, In-Shell), by End- User (Household, Industrial, Food Industry, Snacks and Spreads, Sauces and Dressings, Bakery and Confectionary, Desserts, Personal Care 3and Cosmetics, And Pharmaceuticals), and region.

Product Type:

The type segment is further classified into English Walnut and Black Walnut. Among these, the English walnut sub-segment accounted for the highest market share in 2023. English walnut trees are grown in a variety of locations worldwide, including California, Chile, China, and Europe. Dark walnut trees are mostly native to North America and are less usually grown on a large scale.

English walnuts tend to have larger nuts and thinner shells than dark walnuts. They also have a gentler and sweeter flavor profile, which appeals to a larger client base. This raises the profile of English walnuts as a snack and culinary ingredient. Customers throughout the world like English walnuts because of their mild flavor, versatility in culinary uses, and perceived health advantages. They are often used for prepping, cooking, presenting mixed greens, and snacking.

Form:

The Form segment is further classified into Raw, processed. Among these, the processed sub-segment is anticipated to show the fastest growth by 2032. Prepared walnut goods provide convenience to customers as they are often pre-packaged, ready-to-eat, or need minimal preparation. There is a growing trend of development in prepared walnut products, including walnut-based snacks, energy bars, pastry kitchen items, and gourmet foods, to adapt to changing consumer preferences. Prepared walnut products are positioned to capitalize on current health and wellness trends, promoting nutritional advantages such as heart-healthy fats, fiber, and micronutrients.

Some walnut products are marketed as premium, with high-quality ingredients, unique tastes, and artisanal craftsmanship. Walnut's lengthy history of use in traditional medicinal systems such as Ayurveda lends credibility to its efficacy, encouraging consumer belief and acceptance of home-grown restorative products including Walnut. Standardized Walnut extricates provide precise dosage and consistent definitions, leading to improved performance.

By Product Type

• Black Walnut
• English Walnut

By Form

• Raw
• Processed

By Category

• Shelled
• In- Shell

By End-User

• Household
• Industrial
• Food Industry
• Snacks and Spreads
• Sauces And Dressings
• Bakery And Confectionary
• Desserts
• Personal Care and Cosmetics
• Pharmaceuticals

Region:

The Walnut market in North America is projected to show the fastest growth by 2032. North America, particularly the United States, dominates the global walnut market for many reasons. The United States, particularly California, is the leading producer of walnuts, accounting for a significant portion of the global supply. California's Central Valley, with its ideal climate and rich soil conditions, provides an ideal environment for walnut cultivation, resulting in high yields and exceptional quality nuts. This region primarily produces English walnuts, which are valued for their large size, mild flavor, and versatility in culinary and snack industries. North America's dominance in the walnut market is attributed to improved rural practices, a large plantation system, and technological advancements in walnut development, collection, and processing.

Some of the leading Walnut market players are

• Blue Diamond Growers (United States)
• Olam International Limited (Singapore)
• Borges Agricultural & Industrial Nuts (Spain)
• Mariani Nut Company (United States)
• Mid Valley Nut Company (United States)
• Grower Direct Nut Co., Inc. (United States)
• Webster Limited (Australia)
• Haleakala Walnut Shelling Inc. (United States)
• Poindexter Nut Company (United States)
• Nut Kernels Armenia (Armenia)

Key Industry Developments

• In May 2024, California walnut industry supports the USDA’s expansion of food offerings, The California Walnut Commission (CWC) supports the recent announcements by the USDA for the authorization of nuts and seeds to comprise the full meat/meat alternative component of meals in the Food and Nutrition Service (FNS) Child Nutrition Programs
• In Sep 2022, Intrusion of Californian walnuts in Indian cities cast shadow on Kashmir’s walnut produce, Despite being high in produce, Kashmir’s walnut is gasping for breath and survival as an intrusion of the Californian walnut breeds in Indian cities has cast a shadow on the Valley’s indigenous walnut produce and brought down its price

Key Findings of the Study

• Advancements in walnut processing include a 'Walnut Splitting Machine', as well as a 'Walnut Peeler, Washer, and Sorter' to streamline production and reduce labour for those involved in walnut handling.
• Product Diversification in walnut is like, Walnut items refer to various culinary and non-food products manufactured entirely or primarily from walnuts; walnut oil, walnut flour, walnut butter, walnut drain, walnut snacks, and walnut-based cosmetics.
• English walnut trees are grown in a variety of locations worldwide, including California, Chile, China, and Europe.
• The Walnut market in North America is projected to show the fastest growth by 2032.