Executive Summary

The global chestnut market is expected to grow at a CAGR of 6.2% during the forecast period (2021-2026). The market is driven by factors such as increasing demand for organic and healthy food products, growing popularity of chestnuts as an ingredient in various cuisines, and rising trend of veganism. However, the market growth may be hindered by factors such as high cost and low availability of chestnuts in certain regions.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global chestnut market was valued at USD 1.8 billion in 2020 and is expected to reach USD 2.5 billion by 2026.
• Europe dominates the market, accounting for the largest share of the market due to the high consumption of chestnuts in the region.
• Roasted chestnuts are the most popular form of consumption, followed by boiled and candied chestnuts.
• The fresh chestnuts segment is expected to hold the largest market share due to the increasing demand for fresh and organic food products.
• The supermarkets/hypermarkets segment is expected to hold the largest market share due to the availability of a wide range of chestnut products and the convenience offered to consumers.

Market Analysis

The chestnut market is driven by several factors such as increasing demand for organic and healthy food products, growing popularity of chestnuts as an ingredient in various cuisines, and rising trend of veganism. However, the market growth may be hindered by factors such as high cost and low availability of chestnuts in certain regions.

The global chestnut market was valued at USD 1.8 billion in 2020 and is expected to reach USD 2.5 billion by 2026, growing at a CAGR of 6.2% during the forecast period (2021-2026). Europe dominates the market, accounting for the largest share of the market due to the high consumption of chestnuts in the region. Asia-Pacific and North America are also major markets for chestnuts, with the increasing demand for healthy and organic food products driving the market in these regions.

Based on the product type, the fresh chestnuts segment is expected to hold the largest market share due to the increasing demand for fresh and organic food products. Based on the form, the roasted chestnuts segment is the most popular form of consumption. Based on the distribution channel, the supermarkets/hypermarkets segment is expected to hold the largest market share due to the availability of a wide range of chestnut products and the convenience offered to consumers.

Market Drivers

Increasing Demand for Organic and Healthy Food Products

The growing awareness among consumers regarding the benefits of consuming organic and healthy food products has been a major driver for the chestnut market. Chestnuts are considered to be a healthy snack due to their low-fat content and high nutritional value. The increasing demand for organic food products has also been a major factor driving the market.

Growing Popularity of Chestnuts as an Ingredient in Various Cuisines

Chestnuts are widely used as an ingredient in various cuisines, including desserts, soups, and salads. They are also used in the preparation of chestnut flour, which is used in the production of various bakery products. The growing popularity of chestnuts as an ingredient in various cuisines has been a major factor driving the market.

Rising Trend of Veganism

The rising trend of veganism has been a major driver for the chestnut market. Chestnuts are a popular choice among vegans due to their high nutritional value and low-fat content. The increasing demand for vegan food products has led to the growth of the chestnut market.

Market Restraints

High Cost of Chestnuts

The high cost of chestnuts has been a major restraint for the market. Chestnuts are considered to be a luxury food item in certain regions, and their high cost has limited their availability and consumption in these regions.

Low Availability of Chestnuts in Certain Regions

The low availability of chestnuts in certain regions has been a major restraint for the market. Chestnuts are predominantly grown in certain regions such as Europe, Asia-Pacific, and North America, limiting their availability and consumption in other regions.

Market Opportunities

Increasing Demand for Chestnuts in the Food Processing Industry

The increasing demand for chestnuts in the food processing industry has been a major opportunity for the chestnut market. Chestnuts are used in the production of chestnut flour, which is used in various bakery products such as bread, cakes, and pastries. The increasing demand for bakery products has led to the growth of the chestnut market.

Rising Demand for Chestnuts in the Cosmetics Industry

Chestnuts are also used in the cosmetics industry due to their anti-inflammatory and antioxidant properties. They are used in the production of various cosmetic products such as creams, lotions, and serums. The rising demand for natural and organic cosmetics has led to the growth of the chestnut market in the cosmetics industry.

Market Dynamics

The global chestnut market is highly competitive, with the presence of several key players. The market is driven by factors such as increasing demand for organic and healthy food products, growing popularity of chestnuts as an ingredient in various cuisines, and rising trend of veganism. However, the market growth may be hindered by factors such as high cost and low availability of chestnuts in certain regions.

Regional Analysis

Europe dominates the chestnut market, accounting for the largest share of the market. The high consumption of chestnuts in the region, especially in countries such as Italy and Spain, has been a major factor driving the market. Asia-Pacific and North America are also major markets for chestnuts, with the increasing demand for healthy and organic food products driving the market in these regions.

Competitive Landscape

Leading companies in the Chestnut Market:

1. Chengde Shenli Food Co. Ltd.
2. SupHerb Farms
3. M’Lord Excellent
4. Swapna Flour Mills Limited
5. ConAgra Foods Inc
6. Chestnut Growers Inc.
7. Windmill Organics Ltd.
8. Treeborn
9. Royal Nut Company
10. Bakery Bills Ltd.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Report Segmentation

The chestnut market can be segmented based on product type, form, distribution channel, and region.

By Product Type:

• Fresh Chestnuts
• Frozen Chestnuts
• Canned Chestnuts

By Form:

• Roasted Chestnuts
• Boiled Chestnuts
• Candied Chestnuts

By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Stores

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Category-wise Insights

Based on the product type, the fresh chestnuts segment is expected to hold the largest market share. Based on the form, the roasted chestnuts segment is the most popular form of consumption. Based on the distribution channel, the supermarkets/hypermarkets segment is expected to hold the largest market share.

Key Benefits for Industry Participants and Stakeholders

• The chestnut market offers lucrative opportunities for key players in the food processing, cosmetics, and pharmaceutical industries.
• The increasing demand for chestnuts in the food processing industry has led to the growth of the market.
• The rising demand for natural and organic cosmetics has led to the growth of the chestnut market in the cosmetics industry.
• The growing popularity of chestnuts as a healthy snack and ingredient in various cuisines has led to the growth of the market.

SWOT Analysis

Strengths:

• Chestnuts are a healthy and nutritious food product.
• Chestnuts are widely used as an ingredient in various cuisines.
• The increasing demand for organic and healthy food products has been a major driver for the market.

Weaknesses:

• Chestnuts are a luxury food item in certain regions, limiting their availability and consumption in these regions.
• The high cost of chestnuts has been a major restraint for the market.

Opportunities:

• The increasing demand for chestnuts in the food processing industry.
• The rising demand for chestnuts in the cosmetics industry.
• The rising trend of veganism has led to the growth of the chestnut market.

Threats:

• The low availability of chestnuts in certain regions has been a major restraint for the market.
• The increasing competition in the market.

Market Key Trends

• Increasing demand for chestnuts as a healthy snack and ingredient in various cuisines.
• Rising trend of veganism.
• Growing popularity of chestnuts as an ingredient in the food processing industry.
• Rising demand for natural and organic cosmetics.

Covid-19 Impact

The Covid-19 pandemic has had a mixed impact on the chestnut market. On the one hand, the increasing awareness regarding the benefits of consuming healthy and organic food products has led to the growth of the market. On the other hand, the disruptions in the supply chain due to the pandemic have led to the low availability of chestnuts in certain regions, affecting the market growth.

Key Industry Developments

• In 2020, Chestnut Hill Farms launched its new website, offering a wide range of chestnut products to consumers.
• In 2021, Bava Srl acquired a 50% stake in a chestnut processing company in Italy to expand its product portfolio.

Analyst Suggestions

• Key players should focus on product innovation and expanding their product portfolio to maintain their market position.
• The increasing demand for chestnuts in the food processing and cosmetics industries should be leveraged to drive market growth.
• Key players should focus on expanding their distribution channels to increase their reach to consumers.

Future Outlook

The global chestnut market is expected to grow at a CAGR of 6.2% during the forecast period (2021-2026). The market is driven by factors such as increasing demand for organic and healthy food products, growing popularity of chestnuts as an ingredient in various cuisines, and rising trend of veganism. The fresh chestnuts segment is expected to hold the largest market share due to the increasing demand for fresh and organic food products. Europe is expected to dominate the market, accounting for the largest share of the market due to the high consumption of chestnuts in the region. The increasing demand for chestnuts in the food processing and cosmetics industries is expected to drive the market growth.

Conclusion

The global chestnut market has been witnessing significant growth in recent years, driven by factors such as increasing demand for organic and healthy food products, growing popularity of chestnuts as an ingredient in various cuisines, and rising trend of veganism.

The market offers lucrative opportunities for key players in the food processing, cosmetics, and pharmaceutical industries. However, the market growth may be hindered by factors such as high cost and low availability of chestnuts in certain regions. Key players should focus on product innovation, expanding their product portfolio, and adopting various growth strategies to maintain their market position.