SEATTLE, April 23, 2019 (GLOBE NEWSWIRE) -- The global pistachio market was pegged at 657,380.0 tons in 2017 and is projected to exhibit a CAGR of 3.2 % over the forecast period (2019–2027).

Pistachio is a common name for a deciduous tree Pistacia Vera, native of Central and Western Asia. Pistachio nut has a high percentage of fat and is a good source of protein, carbohydrate, vitamin, niacin, thiamine, magnesium, calcium, potassium, and phosphorous. They are used to flavor both savory and sweet dishes such as ice cream, sweet, and milk beverages.  

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Key Trends and Analysis of the Pistachio Market:

Increasing preference for healthy food and rising health awareness is driving the pistachio market growth. Import substitution by ramping up local production is an opportunity for growth of this market. Major importers of pistachios such as Hong Kong, China, Vietnam, and India can setup their production to scale up their pistachio production. For instance, Hong Kong imports 26% of pistachios, followed by Germany with 13%, China with 8%, Vietnam with 6.5%, and India with 5% of the total world imports. Therefore, these countries can setup their production facilities to reduce the dependency on pistachio imports.

However, high cost of pistachio nuts and various government regulations are factors that hamper the market growth.

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Key Market Takeaways:

• The global pistachio market is expected to exhibit a CAGR of 3.2% during the forecast period (2019–2027)
• North America is expected to show significant growth in the global pistachio market by 2020. According to the U.S. Department of Agriculture (USDA), Agricultural Marketing Service, the U.S. is the second largest exporter and producer of pistachio contributing to 24, globally. Furthermore, in 2017, around 99% of the U.S. pistachio were produced in California, producing 600 million pounds of pistachio, which aided in growth of sales of pistachio industry in the U.S.
• Europe region held the largest market share of 31.1% in the global pistachio market in 2017, owing to increasing demand for pistachio as flavoring agent in bakery and confectionary products. Furthermore, increasing demand for healthy snacking is driving growth of the market. According to Global Agricultural Trade System (GATS), total sales of pistachios in Europe was US$ 426 million in 2015.
• Some of the players operating in the global pistachio market include The Wonderful Company LLC, Germack Pistachio Company, Primex Farms, LLC, Horizon Growers, Nichols Pistachio, Keenan Farms and Setton Pistachio of Terra Bella Inc. Other players are Santa Barbara Pistachio Company, Hellas Farms LLC, Del Alba International and Ready Roast Nut Company.

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