Chestnut Market Overview
Chestnut Market Analysis is predicted to grow during the forecast time. Chestnuts are a nutrient-rich food that makes them distinct from other nuts. Chestnuts are extremely low in fat and high in starch than the different types of nuts which makes them less calorific. The high nutritional content of chestnuts is driving the market for chestnuts around the world.
The growing usage of the chestnut in sweets and the health advantages they provide are expected to propel the chestnut market’s expansion even more. The use of chestnut flour as an ingredient in baking goods is also increasing and drives the need for exports and production of chestnuts around the globe. As per the Food and Agriculture Organization, China, Bolivia, Greece, Italy, and Portugal are the primary producers of chestnuts in the world.
The Chestnut market is estimated to be $4.1 billion in 2026. The market is expected to expand at an annual rate of 3.4 percent during the period between 2022 and 2026.
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The chestnut market is currently divided, and the extent of fragmentation will grow over the forecast time. Some of the sellers operating in the world chestnuts market are launching their products online to boost sales. Berjaya Corp. Berhad, Chengde Shenli Food Co. Ltd., and Chestnut Growers Inc. are just some of the leading market players.
While the rapid growth is bound to bring enormous growth potential for the Chestnut Market, the cost of chestnuts is a challenge to the expansion of market players. To boost their market share, businesses should focus on the potential growth opportunities in the rapidly growing segments while maintaining their positions in the slower-growing parts.
The forecast for the chestnut market report offers a thorough analysis of market leaders to assist clients in improving their competitiveness to improve their market position. It provides details about the strengths and capabilities of these firms. The report also details the market’s competitive landscape and gives information about the services offered by various businesses.
In addition, Chestnut Market report provides information about the future developments and issues that will impact the market’s growth. This report will assist companies in developing strategies to take advantage of future growth opportunities.
|Chestnut Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Key Players covered in Chestnut Market Report:
- Berjaya Corp. Berhad
- Chengde Shenli Food Co. Ltd.
- Chestnut Growers Inc.
- E. & A. Potamianou, Inc.
- Planet Green Holdings Corp.
- Qinhuangdao Yanshan Chestnut Co. Ltd.
- SAMRIOGLU Group of Companies
- Shandong Maria Food Co. Ltd.
- Shandong Zhifeng Foodstuffs Co. Ltd.
- V. Besana Spa
By Species Type: American Chestnut, Chinese Chestnut, European Chestnut, and Japanese Chestnut.
By Distribution: Hypermarket and Supermarkets, Convenience stores, Online Stores and Others.
By Application: Food and Beverage Industry, Cosmetic Industry and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).
The global population with Gluten Intolerance is projected to Increase Market Growth of Chestnut Market
The rapid growth of the world population affected by conditions like gluten intolerance or celiac disease is expected to boost the Chestnut market. Chestnut flour is gluten-free and, thus, is an ideal substitute for people who suffer from these diseases.
The estimates suggest that about 1 -2% of the population are affected by celiac disease, and 6% of people suffer from gluten intolerance across the globe. Gluten intolerance is a problem for people of the Caucasian race more so than the other races, and, consequently, North American and European markets are swiftly moving to gluten-free options like Chestnuts.
The increased awareness of the Health Benefits offered by chestnuts is expected to Increase Demand for Products.
In light of the strict rules concerning applying chemical pesticides, the danger of disease and insect infestations has increased dramatically. Chestnut trees are highly susceptible to insects like Dryocosmus Kuriphilus wasps, polybag moths, the chestnut weevil, and conditions such as Chestnut blight and ink disease Phytophthora disease along with root rot.
Chestnut blight was the sole cause for the destruction of nearly 4,4 billion North American Chestnut trees at the beginning of 20 the century. Pests and diseases like this could reduce the production of chestnuts for farmers and, consequently, create a significant obstacle to the expansion of Chestnut Market.
The long time needed for Producers to Break Even is projected to limit growth Opportunities.
Although the initial investment needed to start the small-scale chestnut farm is minimal, the time required for chestnut trees to grow nuts can take between 4 and five years. Furthermore, the time when producers reach break-even is thought to be 10-13 years. The poor productivity and smaller dimensions of Chestnut farms is the primary factor in the lengthy break-even point. About 50% of Chestnut farms within North America are only between 3 and 10 acres within the region, while the average almond farm covers about 235.5 acres.
MWR’s research methodology is based on extensive use of secondary and primary data sources. The research involves the analysis of various aspects impacting the industry, including the policies of the government, the competitive landscape, the market environment and historical data, as well as current developments in the market technological innovation, emerging technologies, and the advancement of technology in related industries, and potential market risks as well as market barriers and issues.
Market Size Estimation
Bottom-up and top-down approaches are employed to verify the size of the global product market and to estimate the size of the Chestnut Market for companies’ regions, regions segment as well as product segments and applications (end users). The market estimates are built on the product’s retail price (excluding discounts offered by the distributor, manufacturer, wholesaler, trader, or).
Partially splits, market shares and breakdown of product segments are calculated based on the weights allocated to each segment based on their usage rate and average sale price. The regional splits of the total product market and sub-segments are determined by the per cent of adoption or use of the particular product within the specific region or country.
Top key players of the Chestnut Market is determined through secondary data, and the market revenue is determined by secondary and primary approach. Secondary research comprised the study of financial and annual reports of the largest companies. In contrast, primary research involved extensive interviews with opinion makers and experts in the industry like experienced front-line employees, directors, CEOs, and marketing managers.
The market share, percentage splits and Growth Rate, as well as the market structure of the product, are calculated from secondary sources and then verified by primary sources. All potential factors that affect the markets are verified by conducting primary analysis, and then analyzed to obtain the final qualitative and quantitative results.
Market Breakdown, Data and Triangulation
After completing market engineering, including calculations of market statistics, size estimations, forecasting of market breakdown, and data triangulation, a lot of analysis are then conducted to collect details and to confirm the numbers to be verified.
Throughout the entire method of market engineering, top-down and bottom-up methods are were widely used, together with a variety of triangulation techniques for market estimation and forecasting of market trends for the entire market segment and sub-segments . A thorough analysis of quantitative data is also carried out using all the data gathered during the entire market engineering process to present important information throughout the Chestnut Market research.
Secondary sources include annual reports, press releases, non-profit organizations and industry associations, government agencies, customs information, and others. This study focuses on extensive use of secondary sources, directories, databases, and directories like Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones and Company) and trading ECONOMICS and News Network, Statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS and company house documents CAS (American Chemical Society) and investor presentations along with SEC filings of corporations.
Secondary research are utilized to discover and gather details that could be used for a thorough technological, market-oriented and commercial analysis of the product market. It also helps collecting necessary information on the most prominent companies, market classification and segmentation by market trends from the lowest level, and critical technological and market developments.
For the research process, different sources from both the demand and supply sides are being interviewed to collect quantitative and qualitative information. The primary sources on the supply side comprise companies (and their rivals) and opinion leaders, experts from the industry and research institutes, distributors, traders and dealers, raw material suppliers and producers, etc.
The primary sources for demand-side information are industry experts, such as business leaders, sales and marketing directors, directors of innovation and technology supply chain executives, the market (product buyers) and top executives from a variety of key organizations and companies operating globally.
The primary studies are then conducted to find segments, types of segmentation, price ranges, application of the product important company, raw materials supply and demand downstream as well as the status of the industry and its forecast, and the fundamental market dynamics, such as risk factors, influence factors and opportunities obstacles to market entry, trends in the industry, and the strategies of key players.
COVID-19 impact Analysis of Chestnut Market
To understand the impact of COVID, we must understand the supply chain of the industry and the value chain. By analysing the supply chain, we understand the bottlenecks affecting the industry’s growth. And by analysing the value chain, we understand what value each component adds to the entire industry. We then try to understand the COVID impact has on the industry by trying to find answers to the following questions:
How many jobs have been lost?
How many people have died due to COVID?
How did the Government respond, and what measures Government has taken to revive a Chestnut Market industry?
How companies have responded to COVID?
What growth rate companies are expecting in the Chestnut Market ?
We also analyse their annual reports and press releases to understand their strategies post COVID. Then we move towards the primary research part and contact government officials and industry experts such as CEOs, COOs, Directors, VPs, Directors and Managers to understand what impact COVID has had on their businesses and what they are doing to cope with it.
We also try to understand their views regarding other financial aspects, such as recovery and obstacles in achieving pre-COVID growth and when they expect to achieve it.
Finally, after gathering the info from secondary and primary research, we try to form a model through which we gauge the COVID impact on a particular industry.( Chestnut Market )
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