Global Pecan Nuts Market Size is Expected to Grow to $2486.32 Million by 2028

Global Pecan Nuts Market Overview

According to Global Market Monitor, the global pecan nuts market size will reach $1839.49 million in 2023 and is expected to grow to $2486.32 million by 2028.

China is a Big Consumer of Pecans.

Pecan nuts, which are native to northern Mexico and the southern United States, are edible and can be used as snacks and in various recipes with thin shells thick, crispy taste, and rich nutrition.China is a big consumer of pecans. In US-China trade friction, China's tariffs on pecans and other nut products have also affected the export of US nuts. The cost of tariffs hits farmers there, bringing many factors of instability to the local agricultural economy. Faced with the trade war between the United States and China, many Chinese pecan buyers have shifted their buying habits to neighboring Mexico and South Africa because of relatively low tariffs.

Market Restraints: Threat of Substitutes and Price Fluctuations

There are many substitutes for pecans, and the existence and development of the substitute product market will affect the pecan market. Walnuts have a higher protein content than pecans, which is one of its nutritional advantages over pecans. The vitamin E content in walnuts is also higher than that of pecans. Although pecans and walnuts are relatively similar in terms of nutritional content and value, in terms of calories, walnuts are lower than pecans. As a substitute for pecan, the development of its market will affect the pecan market.

Because of the reduction of land, the production cost of pecans has increased. At the same time, the price of pecans is also affected by tariffs. With high import tariffs, product prices rise. Natural factors cannot be ignored in the price of pecans. Every year, unpredictable natural disasters occur in certain areas, especially droughts or floods, seriously affecting the harvest of pecans, and leading to an increase in the price of pecans and other nuts. Many factors affect the price of pecans, so it is always fluctuating.

Drivers	Pecan nuts are high in nutrients and have many health benefits.
	Increased supply of pecans drives consumption trends.
	The boom in vegetarianism drives the demand for nuts.
	Consumers’ eating habits are getting healthier.
Restraints	Pecans have the highest fat content in nuts.
	The trade war between the U.S. and China has an impact on the pecan market.
	The existence and development of the alternative product market will affect the pecan market.
	Pecan's price fluctuations

For more industry information, please refer to our latest released "China Pecan Nuts Industry Market Research Report 2023-2029".