Pecan Market to Flourish with an Impressive CAGR During 2016 - 2024

Pecan mainly produced in Georgia, followed by New Mexico, Texas, and Arizona. According to National Agricultural Statistics Service (NASS), in 2014, Georgia produced 76 million pounds of pecan. Whereas, New Mexico, Texas, and Arizona produced 67 million pounds, 61 million pounds, 21 million pounds of pecan, which is 17% low from previous year for Georgia, and 7% for New Mexico and Arizona.

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According to FAS, in 2014, The U.S. exports of pecan increased by 28% in comparison to previous year. In 2014, the U.S. exports of pecan was valued more than US$ 445 million and imports are valued at US$ 370.6 million which is 52% higher than previous year. In 2014, Canada was largest market for shelled pecans valued at more than US$ 45 million. In 2015, Mexico produced 270,535.4 Mn pounds of pecan, which is 400,000 lbs higher than previous year.

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The factors driving the pecan market are high nutritional value of pecan nuts, increasing focus towards preventive care, consumers are rapidly shifting towards consumption of healthy food. Increasing urge of the consumers for living a healthy lifestyle, coupled with increased usage of edible nuts as an ingredient by various food industries such as bakery & confectionery, dairy, snacks and others.

Increasing concern regarding side effects of chemicals and synthetic additives used in food and beverages is fuelling demand for natural alternatives like pecan in the market. However, lack of product quality standard and uniform packaging and quality standards will act as a barrier for global pecan market. In recent years, pecan industry is dealing instability due to uneven supply.

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Some of the key participating player in global pecan market are Pecan Producers International, Missouri Northern Pecan Growers, Linwood Nursery, Navarro Pecan Company Inc., The Green Valley Pecan Company, SA Pecans, Kalahari Desert Products (Pty) Ltd., Hudson Pecan Company, and others.

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