The Macadamia Oil Market was valued at USD XX Billion in 2022. The industry is projected to grow from USD XX Billion in 2023 to USD XX Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.90% during the forecast period (2024 - 2032). Growing adoption in the food service sector and the rising need for nutraceuticals and functional foods are the primary market drivers propelling the market's growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Monounsaturated fats and oleic acid, in particular, are abundant in macadamia oil. Because of these ingredients, it is a great moisturizer for skin, hydrating and supporting the integrity of the skin barrier. Antioxidant-rich omega-7 (palmitoleic acid) and vitamin E are vital nutrients in macadamia oil. The potential of the oil to protect and nourish the skin while lessening the effects of oxidative stress is enhanced by these nutrients. Because of its non-greasy, lightweight texture, macadamia oil is ideal for various skin types, including combination and oily skin. Its ability to hydrate without leaving a thick or sticky residue makes it more appealing in skincare products. Macadamia oil's antioxidant concentration makes it useful for preventing wrinkles and other aging symptoms. Its use in anti-aging formulas corresponds with the rising demand from consumers for skincare products that provide skin with a younger, glowing appearance.
Additionally, government assistance is provided for macadamia production and export, which is driving the market CAGR. Numerous administrations in nations that develop macadamias, including South Africa, Australia, and portions of South America, recognized the crop's economic potential. These nations' governments have implemented several initiatives to expand and fortify the macadamia market. These actions include financial incentives, R&D initiatives, trade agreements, grants, subsidies, technical support, export protocols, and access to overseas markets. By assisting macadamia farmers and production, governments contribute to the growth of local economies, creating jobs and increasing the nation's competitiveness in the market for macadamia products. Therefore, government funding is crucial to the expansion and long-term viability of the macadamia market.
For instance, the International Nut & Dried Fruit Council estimates that 2021 macadamia production in South Africa, Australia, Kenya, and China was 54,174, 48,500, 38,500, and 32,000 metric tons, respectively. Thus, with the help of government assistance, rising demand drives increased production, which is anticipated to drive market expansion throughout the forecast period. Thus driving the Macadamia Oil market revenue.
Based on product, the Macadamia Oil market segmentation includes raw macadamia, processed macadamia and macadamia oil. In 2023, the raw macadamia segment dominated the market. Because these nuts are so adaptable and can be used for various purposes, such as snacking, baking, and cooking, and as an ingredient in a wide range of culinary products because they can be used whole, chopped, roasted, or ground, they are a common ingredient in various dishes and culinary products. Moreover, because they are low in carbs and high in fiber, protein, and monounsaturated fats, this variety of macadamia nuts is regarded as one of the healthiest nuts.
The macadamia oil category is anticipated to be the fastest growing. Because of its moisturizing qualities, macadamia oil is frequently found in skincare products. It is also a hydrating and nourishing component for the skin, often used in body oils, lotions, and creams. Shampoos, conditioners, and hair masks are among the products that contain macadamia oil. It lessens frizz and increases shine by hydrating and nourishing hair.
Based on application, the Macadamia Oil market segmentation includes food & beverages and cosmetics. The food & beverages category leads the market. Gourmet and specialty food items like dressings, sauces, and condiments frequently contain macadamia oil to appeal to customers looking for exceptional and distinctive eating experiences. A small amount of macadamia oil can be used by certain customers to naturally enhance the flavor of their tea or coffee while adding a faint nutty accent.
During the projection period, the cosmetic segment of the macadamia oil market is anticipated to grow at the fastest rate. Macadamia oil is used in some formulas because it hydrates and calms the scalp, which helps with problems including flakiness and dryness. As an oil derived from plants, macadamia oil fits nicely with the expanding trend of natural and organic beauty products.
Figure 1: Macadamia Oil Market, by Application, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on distribution channels, the Macadamia Oil market segment includes business-to-business and business-to-customer. The business-to-business category leads the market. Due to the growing need for macadamia oil and raw macadamia in domestic kitchens. Due to the abundance of macadamia growers and the growing need for fruit in the beverage, food, and cosmetics industries, the market's B2B segment has grown significantly. Future expansion of the macadamia sector is anticipated to be significantly aided by the rising prominence of online B2B marketplaces like Just Dial, Sources, Alibaba, eWorld Trade, India Mart, and Amazon Business. The B2B industry has grown quickly because macadamia is available in large quantities and at competitive prices.
The business-to-customer segment of the macadamia oil market is predicted to develop at the quickest rate over the projected period due to factors including rising major player investment, rising convenience food demand, and the convenience of one-stop shopping. The industry is expanding because supermarkets make various flavors and products that are easy to rely on.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Macadamia Oil market area will dominate this market, owing to the market growth in the upcoming years due to customers' growing concerns about their health. Due to rising disposable income and population, North America is anticipated to expand fastest in the market's regional segment in the upcoming years. The fitness industry has found it simpler to expand in this area due to the strong social trend towards health. Canada is North America's fastest-growing market. Additionally, the US market in North America has the largest market share.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: MACADAMIA OIL MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Macadamia Oil market accounts for the second-largest market share because the food service sector, which includes cafes, restaurants, and hotels, uses macadamia oil in various cuisines. Its application in the food service industry promotes consumer adoption and increased awareness, which fuels market expansion. Further, the German Macadamia Oil market held the largest market share, and the UK Macadamia Oil market was the fastest-growing market in the European region.
The Asia-Pacific Macadamia Oil Market is expected to grow at the fastest CAGR from 2024 to 2032. This is because of several factors, including increased product introductions, macadamia oil's tremendous expansion in the food and beverage industry, and numerous other factors. The key factor boosting the industry's expansion is the expanding pharmaceutical industry. Moreover, China’s Macadamia Oil market held the largest market share, and the Indian Macadamia Oil market was the fastest-growing market in the Asia-Pacific region.
The Macadamia Oil market will continue to grow as major companies in the industry make significant R&D investments to extend their product ranges. Significant market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and cooperation with other organizations. Market participants also engage in various strategic actions to broaden their footprint. The Macadamia Oil sector must provide affordable products to grow and thrive in a more cutthroat and dynamic market.
Local manufacturing to lower operating costs is one of the key strategies manufacturers use in the Macadamia Oil market to benefit consumers and grow the market sector. Some of the biggest medical benefits in recent years have come from the Macadamia Oil sector. Major players in the Macadamia Oil market, including Macadamia Nut Company, Kenya Nut Company Ltd, Marquis Macadamia, Hawaiian Host, Inc., MacFarms, LLC, Golden Macadamias, Eastern Produce., Royal Macadamia, Wondaree macadamias, Ivory Macadamias, Nambucca Macnuts, North Shore Macadamia Nut, and others are attempting to increase market demand by investing in research and development operations.
Leading the worldwide macadamia sector and producing best-in-class products is Marquis Macadamia. They are a 100% grower-their business applying its collective creativity to create an exceptional farm management and processing method. At Marquis, they take great pleasure in providing one of Mother Nature's most delectable superfoods to consumers worldwide. They do this by providing all purchasers with quality, dependability throughout the year, farm-to-plate traceability, and fair pricing. To make sure the macadamia business is sustainable and profitable for all players in the market long into the future, they are committed to meeting the needs of their supply chain partners. Their enthusiastic and highly skilled staff is always available to guide macadamia selection, care, handling, and application. They are the one-stop store for all of the customers' macadamia needs.
As a grower-their company, Golden Macadamias is also a proud member of Macadamias South-Africa NPC (SAMAC) and the International Nut and Dry Fruit Council (INC). Contact them to learn more about their available product lines, including Macadamia Nut in Shell or Kernel. They are thrilled to discuss the advantages macadamias provide, including their plant-based, vegan-friendly diet and high content of monounsaturated fats. April 2022: Golden Macadamias, a cooperative company based in South Africa, purchased a TOMRA 5C sorting machine equipped with biometric signature identification technology. This apparatus is an advanced optical sorter with nuts and dried fruit. It assists in achieving the best possible product quality when producing large quantities of macadamias.
Macadamia Oil Industry Developments
March 2022: At Natural Products Expo West, Milkadamia Company unveiled a new macadamia nut oil milk product. There are two versions of this milk: pumpkin pie and salted caramel.
June 2021: ASX-listed company Forbidden Foods introduced a walnut/macadamia oil enriched with algal omega-3 in China and Australia in response to consumer trends seen on the significant e-commerce platform Alibaba Tmall.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD XX Billion |
| Market Size 2023 | USD XX Billion |
| Market Size 2032 | USD XX Billion |
| Compound Annual Growth Rate (CAGR) | 9.90% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Macadamia Nut Company, Kenya Nut Company Ltd, Marquis Macadamia, Hawaiian Host, Inc., MacFarms, LLC, Golden Macadamias, Eastern Produce., Royal Macadamia, Wondaree macadamias, Ivory Macadamias, Nambucca Macnuts, and North Shore Macadamia Nut |
| Key Market Opportunities | Increasing demand for natural and organic products and e-commerce expansion |
| Key Market Dynamics | Growing adoption in the food service sector and the rising need for nutraceuticals and functional foods |
Frequently Asked Questions (FAQ) :
The Macadamia Oil market size was valued at USD XX Billion in 2023.
The market is projected to grow at a CAGR of 9.90% during the forecast period, 2024-2032.
North America had the largest share of the market
The key players in the market are Macadamia Nut Company, Kenya Nut Company Ltd, Marquis Macadamia, Hawaiian Host, Inc., MacFarms, LLC, Golden Macadamias, Eastern Produce., Royal Macadamia, Wondaree macadamias, Ivory Macadamias, Nambucca Macnuts, and North Shore Macadamia Nut.
The raw macadamia category dominated the market in 2023.
Food & beverages had the largest share of the market.
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