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Expanding pistachio consumption, broadening confectionery demand, and budding disposable income levels are anticipated to boost market demand
HYDERABAD, TELANGANA, INDIA, January 25, 2023 /einpresswire.com / -- IndustryARC, in its latest report, predicts that the pistachio market size is estimated to reach $5.8 billion by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Pistachio is nothing but edible seeds produced from a desert plant with deciduous pinnate leaves which belong to the cashew family. The pistachio tree gets along with saline soil very well and can bear temperatures ranging from -10 degrees Celsius to 48 degrees Celsius. Central Asia and the Middle east are deemed to be the originators of this cream-colored exterior shelled dry fruit. Pistachios are home to fatty acids, antioxidants, dietary fibers, and vitamins such as oleic acid, linoleic acid, stearic acid, vitamin E, vitamin K, Riboflavin, folate, and many others.
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This IndustryARC report on the Pistachio Market highlights the following areas -
1. Geographically, the North American Pistachio Market accounted for the highest revenue share in 2021. The growth is owing to staggering production and consumption in counties like Syria, the United States, Turkey, Iran, and Others, conducive environment as long hot summers are an important prerequisite in order to grow these seeds, rising purchasing power of consumers in the Middle East and North America, and growing confectionery demand.
2. Changing attitudes off people from health reactiveness to proactiveness, rising demand for protein-rich foods and beverages, eventful lifestyles of people, the rising middle-class population in developing countries, and augmenting health problems like heart attack, diabetes, and obesity are said to be preeminent drivers driving the growth of Pistachio Market. Surging inflation, crippled demand-supply chain, and the presence of potent chemicals like aflatoxin that have carcinogenic nature are said to reduce the market growth.
3. Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Pistachio Market report.
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1. The Pistachio Market based on nature can be further segmented into organic and conventional. The organic segment held the largest share in 2021. The growth is owing to fewer labor requirements which drastically increases farmers' revenue. Also, conventional farming is best known for higher yield as several chemicals taken into account lessen the insects' attacks and unwanted weeds and is practiced all over the globe because of its low labor requirement.
2. The Pistachio Market based on distribution channels can be further segmented into Offline (Supermarkets/Hypermarkets, Convenience stores, Small retail stores) and Online platforms. The offline segment held the largest share in 2021.
3. The Pistachio 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 the largest share with 38% of the overall market in 2021. The growth in this segment is owing to the factors such as massive production and consumption in North American and Middle East countries.
The top 5 players in the Pistachio industry are -
1. Germack Pistachio Company
2. Whistler Foods
3. Sierra Nut House
4. Bates Nut Farm
5. Wonderful Pistachios & Almond Compan
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A. Fruit and Vegetable Seeds Market
B. Packaged Nuts & Seeds Market
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