Product Code: ETC411505 | Publication Date: Oct 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Philippines Walnut market currently, in 2023, has witnessed an HHI of 7671, Which has decreased slightly as compared to the HHI of 8268 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
While walnuts are not native to the Philippines, the market for this nut has shown promise due to increasing awareness of their health benefits and culinary versatility. As consumers embrace healthier eating habits and explore diverse cooking styles, the demand for walnuts is gradually expanding. Their incorporation into baked goods, salads, and snacking options has contributed to the growth of the walnut market in the Philippines.
In the Philippines walnut market, changing dietary preferences and the recognition of walnuts as a nutrient-dense snack have been key drivers. The inclusion of walnuts in both sweet and savory dishes has bolstered their demand, thereby fueling market growth.
The Philippines walnut market may encounter challenges associated with consumer awareness, supply chain logistics, and price considerations. Walnuts might be less familiar to consumers compared to other nuts commonly consumed in the country. Sourcing high-quality walnuts and managing transportation and storage to prevent spoilage are challenges. Additionally, walnuts are often considered premium nuts, which could impact affordability and market penetration. Educating consumers about the nutritional benefits of walnuts and offering value-added products could be essential in overcoming these challenges.
The Philippines walnut market faced challenges arising from the pandemic. Disruptions in global trade and logistics impacted walnut imports, affecting supply and prices. Reduced consumer spending and uncertainties influenced demand. However, the health benefits of walnuts, including their nutritional value, supported their consumption during the pandemic. Retailers and producers adapted to the changing landscape by focusing on online sales and home delivery options.
The walnut market in the Philippines might not be as prominent as in other regions due to the country`s climate not being ideal for walnut cultivation. Importing walnuts is more common. Key players in the imported nut market could include international brands such as Diamond of California, Fisher Nuts, and Blue Diamond Growers.