Widening Applications of Walnuts Means Higher Returns for Growers
As a crop, Walnuts are wonderful and diverse. There are plenty of uses for this wonderful nut; they can be consumed as snacks, additives, medical uses, timber and even in industrial applications. The uses of walnuts are expanding thanks to innovation aimed at attracting more consumers. This is great news for walnuts growers. For starters, there is a general increase in demand for walnuts globally. By the end of 2017, the Global Walnuts industry was valued at $6,197.1mn and is expected to peak to $8,534.5 mn by Dec 2025. All these translate to more opportunities for walnut growers. New products are vital for two reasons:
- Increased demand for walnuts overall because the pool of potential consumers is widened. It is important for the industry to work ahead of supply and create demand.
- These types of products can use different varieties and grades of walnuts without compromising taste. This means increased product appeal to customers.
In addition to wider application of Walnuts, the Global rise of the middle class is also great news for Walnut growers. The demography has more disposable income and can afford to incorporate healthy foods into their diet.
New Products that are driving Walnuts prices
New innovative products such as Walnut butter and Walnut milk are slowly gaining acceptance as healthy alternatives in the healthy-eating community. They are opening ways of more ways of consuming Walnuts. Walnuts milk is one of the new innovative products that is quickly gaining acceptance. Commercially, Walnut milk is available in different flavors, but the neutral flavor appears to be the most popular among consumers. The absence of Lactose in Walnut Milk makes it an ideal replacement for user with lactose intolerance. The North American market appears to be most receptive to Walnut Milk. That said, increased awareness globally is expected to boost the demand for walnut milk.
On the other hand, the future of Walnut butter looks very promising. The butter is rich in proteins, minerals, and fiber. One of the groups fuelling demand for walnut butter is vegetarians. For starters, there are over 370 million vegetarians globally. This represents a massive market. India leads the pack with over 38% of its population being vegetarian. Other positive factors that are promising to the world Butter forecast include rapid urbanization, changing habits of millennial, and the general trend to move to health eating especially among the middle-class.
In Bakery items
For a long-time, Walnuts have been used as an additive for many bakery products such as snacks, and ready to eat-items. In many countries and cultures, walnuts are quickly finding acceptance as a great addition to bakery items in restaurants and homes.
Walnuts shells are quite versatile and can be used industrially for the following: blasting, polishing, cleaning, cosmetics, paint material, tumbling, and as fillers. Walnuts shells are versatile due to the following key characteristics: they perform well in different pH, temperature fluctuations and resistant to fermentations. Better still, they are reusable.
The bottom line is that the future of Walnuts as an investment option looks very promising. Not only is the healthy benefits of Walnuts driving demand, but also its wide applications and innovations right from home to industries means that investors and growers alike can bank on the future profitability of the walnut crop. It is now, more than ever, time to invest in walnuts.