The North America Walnut Oil Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 9,017.85 tonnes, showcasing a growth of 4.8% (2019-2022).
The walnut oil market has grown dramatically in the last few years due to its many uses, nutritional advantages, and rising consumer awareness of wholesome eating options. Derived from the kernels of walnuts, walnut oil is prized for its rich flavor, high nutritional content, and culinary versatility. The high smoke point and rich, nutty flavor of make it a popular choice for baking and cooking. Sautés, stir-fries, roasted veggies, and grilled meats are just a few of the meals that benefit from their richness and complexity.
In baking, it can be incorporated into recipes for cakes, cookies, bread, and pastries to impart a subtle nutty aroma and moist texture. Because of its distinctive flavor and nutritional benefits, walnut oil is a popular choice for homemade salad dressings and marinades. With vinegar, citrus juice, herbs, and spices, walnut oil creates delicious dressings and marinades that complement a wide range of salads, from simple greens to complex grain and protein salads.
The increasing e-commerce sector in Mexico is creating a growth environment for the market. As per the International Trade Administration (ITA), the domestic e-commerce sector was valued at USD 26.2 billion in 2022, representing a 23 percent increase over 2021. There were 63 million Mexican e-commerce users in 2022, an increase of 5.5 million over 2021. Hence, the growing food and beverage industry and the increasing e-commerce sector in the region are driving the market's growth.
The US market dominated the North America Walnut Oil Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $332.7 Million by 2030. The Canada market is experiencing a CAGR of 7.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.2% during (2023 - 2030).
Free Valuable Insights: The Walnut Oil Market is Predict to reach USD 1.4 Billion by 2030, at a CAGR of 6.3%
Based on Application, the market is segmented into Pharmaceuticals & Nutraceuticals, Cosmetics, Food & Beverage, Aromatherapy, and Others. Based on Distribution Channel, the market is segmented into Online Retail, Supermarkets & Hypermarkets, and Specialty Stores. Based on Grade, the market is segmented into Pharma Grade, Cosmetic Grade, and Food Grade. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Tonnes, USD Billion, 2019-2030)
By Grade (Volume, Tonnes, USD Billion, 2019-2030)
By Country (Volume, Tonnes, USD Billion, 2019-2030)
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