Table of Contents
Overview
New York, NY – January 7, 2025 – The global Chestnut Market is experiencing steady growth, with its size projected to increase from USD 3.6 billion in 2023 to approximately USD 5.0 billion by 2033, reflecting a compound annual growth rate (CAGR) of 3.3% during the forecast period from 2024 to 2033.
This expansion is driven by rising consumer demand for healthy and nutritious foods, as chestnuts are low in fat and rich in essential nutrients, appealing to health-conscious individuals. The growing popularity of plant-based diets further boosts chestnut consumption, as they serve as a versatile ingredient in various culinary applications.
Additionally, advancements in processing and preservation techniques have enhanced chestnut product availability and shelf life, contributing to market expansion. The increasing use of chestnuts in the food and beverage industry, along with emerging opportunities in the cosmetic sector due to their beneficial properties, presents significant growth prospects. As consumer preferences continue to shift towards healthier and plant-based options, the chestnut market is well-positioned for sustained growth and diversification.
Key Takeaways
- Chestnut Market size is expected to be worth around USD 5.0 Bn by 2033, from USD 3.6 Bn in 2023, growing at a CAGR of 3.3%.
- Chinese Chestnut held a dominant market position, capturing more than a 38.4% share of the global chestnut market.
- Food and Beverage Industry held a dominant market position, capturing more than a 72.3% share.
- Hypermarkets/Supermarkets held a dominant market position, capturing more than a 48.4% share.
- Asia Pacific region dominates the global chestnut market, accounting for 47.6% of the market share, with a valuation of approximately USD 1.7 billion.
Key Market Segments
In 2023, Chinese Chestnut led the market with a 38.4% share, driven by high yields, adaptability, and significant culinary use in Asia. American Chestnut is regaining niche attention through conservation efforts despite past blight, while European Chestnut remains steady, supported by its cultural significance in traditional European cuisines. Japanese Chestnut, valued for its sweetness, caters to local and specialty markets, particularly in confectioneries.
The Food and Beverage Industry dominated with a 72.3% share in 2023, fueled by chestnuts’ versatility, nutritional value, and rising popularity in gluten-free and plant-based diets. The Cosmetic Industry, though smaller, is rapidly growing due to the demand for natural and eco-friendly products utilizing chestnut extracts.
Hypermarkets/supermarkets held a 48.4% share in 2023, thanks to convenience and wide product variety. Specialty stores focused on premium offerings, while convenience stores catered to quick purchases. Online retail saw notable growth, expanding access to gourmet and niche chestnut products.
Regional Analysis
The Asia Pacific region dominates the global chestnut market, holding 47.6% of the market share with an estimated value of USD 1.7 billion in 2023. This strong position is fueled by high production volumes and significant consumption in countries like China, Japan, and South Korea. China, as the largest producer and consumer, drives regional market dynamics with extensive orchards and well-integrated value chains supporting both domestic demand and exports.
In North America, the chestnut market is gradually growing, with the United States and Canada focusing on cultivating blight-resistant varieties. The region’s growth is supported by increasing interest in gluten-free, healthy food options and advanced agricultural practices. North America’s chestnut market was valued at approximately USD 450 million in 2023, showing steady expansion as consumers opt for local and sustainable produce.
Europe remains a significant player, with strong demand in Mediterranean countries like Italy, Spain, and France. Valued at USD 1 billion in 2023, the market thrives on traditional holiday-season consumption and value-added products like chestnut flours and pastes. The integration of chestnuts into European cuisines ensures consistent growth.
Latin America represents a smaller share of the market, valued at around USD 200 million in 2023. Countries like Brazil and Mexico are exploring chestnuts as a sustainable crop, aligning with biodiversity goals and offering growth potential through increased cultivation efforts.
The Middle East and Africa (MEA) region, with a market value of USD 150 million in 2023, shows modest activity but emerging opportunities. Rising interest in healthy, non-traditional nuts and exposure to global cuisines could support future growth, particularly in affluent areas with increasing demand for diverse dietary options.
Recent Developments
- Battistini Vivai, an Italian nursery with over 70 years of experience, specializes in producing fruit plants, including chestnut trees. In 2023, they expanded their operations by launching VitroLeaf, Europe’s largest propagation laboratory, enhancing their production capabilities. Their facilities include 10,000 square meters of greenhouses and 30,000 square meters of shade structures, supporting the annual production of millions of certified micro-propagated plants. This expansion positions them to meet the growing global demand for chestnut cultivation.
- Chengde Shenli Food Co. Ltd., established in 2000 and located in Kuancheng Town, Chengde City, Hebei Province, China, is a leading player in the chestnut industry. With a total investment of 360 million yuan, the company operates a facility spanning 450 acres, including 50,000 square meters of building space. Their annual processing capacity reaches 80,000 tons, focusing on organic chestnut products. The company has formed an agricultural production and operation model of “company + farmers + base” with a standardized organic chestnut production base covering 600,000 mu. Their products have been exported to the United States, Germany, Thailand, South Korea, Israel, Singapore, Japan, the European Union, and many other countries.
- Chestnut Charlie’s Organic Nuts, established in 1995 and certified organic since 1998, cultivates approximately 1,200 nut trees on a 20-acre orchard in Lawrence, Kansas. In 2024, the company reported selling out its entire chestnut inventory, reflecting strong consumer demand for organic chestnuts. Their products are available through local retailers such as The Community Mercantile and Checkers Grocery in Lawrence, as well as Whole Foods stores in Kansas City, Olathe, and Overland Park. This local distribution strategy aligns with the growing consumer preference for organic and locally sourced produce, contributing to the company’s success in the regional chestnut market.
- Clement Faugier, a French company established in 1882, specializes in chestnut-based products, notably marrons glaces (candied chestnuts) and chestnut puree. As of 2023, the company employs between 100 and 199 people and has a capital of €478,530. In recent years, Clement Faugier has invested €5 million to modernize its production facilities, aiming to enhance efficiency and product quality.
- Conagra Brands, Inc. has not prominently featured chestnut-based products in its portfolio. The company’s focus remains on expanding its offerings in frozen meals, snacks, and other convenience foods, with over 50 new products launched in 2024. Conagra’s operating profit for 2024 was approximately $1.18 billion, reflecting its strategic emphasis on innovation and consumer trends. Currently, no significant data is indicating Conagra’s involvement in the chestnut sector.
Conclusion
The global Chestnut Market is poised for steady growth, driven by increasing consumer demand for nutritious and versatile food options. As awareness of chestnuts’ health benefits expands, their incorporation into various culinary applications is set to rise. Additionally, advancements in processing and preservation techniques are enhancing product availability. However, challenges such as climate change and supply chain disruptions may impact production. Overall, the market presents promising opportunities for stakeholders in the coming years.
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