The pecan oil market is mainly driven by the increased health consciousness and awareness among consumers regarding health benefits of various natural plant based products and its safety in use. Another leading factor expected to lead the market is the macroeconomic factors such as rise in spendable income, with the rise in income of consumers synergized with the health concerns, pecan oil market is expected to upsurge in the forecast period.
Other factors like uniqueness in flavor, nutty yet neutral taste of pecan oil is expected to drive the market of pecan oil.
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Pecan oil is a heart friendly cooking oil having a higher smoke point which helps proper browning of the meat and not burning it. The roasted pecan oil has a slight buttery, nutty yet neutral taste of the oil makes it perfect for the use of salad dressings. It also provides a low saturated fat content of 9% which makes it unique even in comparison to olive oils 14%. Apart from its low saturated fat content, it is a rich source of other nutrition such as rich supply of monounsaturated oleic and linoleic acid as well as anti-oxidants, protein, vitamins A, B, C, and K, minerals such as calcium, iron, magnesium, manganese, phosphorus and potassium. Pecan oil has various health benefits like, it helps to reduce the risk of coronary disease, stroke, high blood pressure, diabetic neuropathy, and rheumatoid arthritis. Pecan oil’s market is expected to be well endowed due to its taste and derived nutritional content.
Pecan Oil Market Segmentation:
The global pecan oil market is segmented on the basis of product type, distribution channel, and region. Based on product type, the global pecan oil market is segmented into two main segments; Cold pressed pecan oil and roasted pecan oil. The cold pressed pecan oil is pure oil obtained by cold pressing method and no heat is applied to it, it is a healthy cooking oil option and provides a good substitute to other cooking oils and butters. This segment of pecan oil is highly attractive to consumer’s having high health concerns. The roasted pecan oil on the other hand is obtained by roasting the raw nuts to get the desired flavor, it provides a delicious salad dressing which melts very well with creamy texture, acidity flavor and soft spices, for this reason the roasted pecan oil is expected to grow a steady demand in market of pecan oil in the forecast period.
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On the basis of regions, the pecan oil market is segmented into following key regions; North America, Latin America, Western Europe, Asia Pacific and Middle East. Latin American region has the major share of global pecan oil market which is expected to grow at a steady rate. Apart from United States of America Brazil, South Africa and Israel are few countries where the pecan oil market is expected to rise at a relatively higher growth rate over the forecast period. This is attributed to the high amount of pecan tree plantation and amplified demand of healthy cooking oil among consumers.