Pistachio Market Growing at CAGR of 2.8% during 2017-2026

Pistachios are seeds of pistachio tree, and have their origin in the Middle East and Central Asia. Pistachios are generally used as snacks and for food preparations by consumers globally. The seeds can be roasted or raw with seasoning for adding flavor. One of the commonly consumed nuts, pistachios are healthy, good in taste, and offer various health benefits, owing to their high antioxidant and low fat content, which in turn improves the immunity.

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Pistachio Hulls to have Potential Applications in Nutraceuticals

According to researchers from North Carolina State University’s Plants for Human Health Institute, pistachio hulls represent a rich resource for value-added products, and have potential applications in drug industries and food supplements. The researchers have stated pistachio hulls to comprise a phytochemical composition with a blend of anacardic acid homologues, which are well-known for their anti-inflammatory, antioxidant activities, and pharmacological activities. This further creates potential opportunities for application of pistachio hulls in nutraceuticals. Presence of flavonoids and phenolics in pistachio hulls are higher as compared to several vegetables and fruits considered rich in polyphenols.

Prevalence of diseases on the back of unhealthy consumption patterns and ignorance of food safety has surged significantly across the globe. Consumers are now concentrating more on healthy eating habits for preventing health issues including food poisoning, high cholesterol, and obesity. Increasing awareness about presence of toxins in various food products owing to use of pesticides and chemical fertilizers in farming has resulted into a rise in demand for organic food products, may they be vegetables, fruits, or nuts. As pistachios are used in food processing industries, and are consumed as snacks, their organic variety is getting higher in demand. In addition, growing application of pistachios as flavoring agent will also propel their demand in the food & beverage sector. However, contamination by aflatoxin remains a major challenge impeding consumption of pistachios. Fungi produce aflatoxin that affect many tree nuts, and the production occurs at all stages of farming, or harvesting.

A new research analysis by Transparency Market Research (TMR) states that the global market for pistachios will witness a moderate expansion during the forecast period (2017-2026). Worldwide sales of pistachios are estimated to account for roughly US$ 5,000 Mn revenues by 2026-end.

Europe to Remain Leading Contributor to Global Pistachio Market’s Expansion in Terms of Revenues

Europe will continue to be the leading contributor to expansion of the global pistachio market, in terms of revenues. In Europe, pistachios are extensively used in bakery products such as cookies, biscuits, cakes, and pastries, for providing them with a distinguished flavor. Sales of pistachios in Europe will surpass US$ 1,500 Mn in revenues by 2026-end. North America and Asia-Pacific excluding Japan (APEJ) are also anticipated to remain remunerative for expansion of the pistachio market, mainly because of wide use of pistachios in food preparations in these regions.

Wholesaler/distributor display every variety and brand of pistachio, and deliver multiple options to choose from, which has gained increased interest of consumers. Based on distribution channels, wholesaler/distributor is anticipated to retain its dominance in the global pistachio market, followed by modern trade. Revenues from sales of pistachios in convenience stores will remain sluggish over the forecast period.

Key Takeaways from TMR’s Report on Pistachio Market

• Based on end-use, bakery & confectionery will account for a lion’s share of the market during 2017 to 2026
• Whole and split forms of pistachios will remain lucrative in terms of revenues

Competition Tracking

Key players profiled by TMR’s report, which are actively contributing to expansion of the global pistachio market, include Whistler Foods, Houston Pecan Company, Meridian Growers LLC, Sierra Nut House, Bates Nut Farm, Rasha Pistachio Co., Wonderful Pistachios & Almond Company LLC, Germack Pistachio Company, Setton Pistachio of Terra Bella, Inc., and The Pistachio Co Food Trading LLC.