Market Trends of Chestnuts Industry
Increasing Global Demand with Nutritional Benefits
- Globally called the “bread tree,” chestnuts have been a dietary staple for millennia. With a nutritional profile akin to grains, chestnuts comprise 40-45% carbohydrates, 5-8% protein, and 2-3% fat, with the remainder being water. Their protein quality, rivaling that of milk and eggs, boasts a balanced amino acid profile. Rich in Tryptophan, Isoleucine, Lysine, linoleic acid, and sulfur-containing amino acids, chestnuts are gluten-free, making them an excellent substitute for gluten-free flour in various dishes. The American Heart Association endorses chestnuts, citing their high carbohydrate, low fat, and low sodium content as a defense against heart disease. Capitalizing on this global demand, major companies such as Chengde Shenli Food Co., Ltd. in China, Clément Faugier in France, Amisa in the United Kingdom, and Royal Nuts Company in Australia are manufacturing and selling chestnut-based products, including purees, flours, and snacks.
- Chestnuts, packed with nutrients such as vitamin C, B1, B2, B6, folic acid, manganese, copper, and magnesium, are witnessing a surge in confectionery applications. This rising demand, fueled by chestnut's health benefits, is propelling the chestnut market. China, with its vast production, emerges as a dominant exporter, with nations such as Germany and the U.S. being major importers. In 2023, ITC Trade highlighted China's chestnut exports at a significant USD 96,370 thousand. Meanwhile, USDA data reveals a 79 percent surge in the number of chestnut farms across the U.S. from 2017 to 2022. This pronounced demand in countries with limited production accentuates the export potential for chestnuts.
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Asia- Pacific Dominates the Market
- Asia stands at the forefront of the global chestnut landscape, leading in both production and consumption. Data from the FAO reveals that in 2022, Asia accounted for a staggering 81% of the world's chestnut production, churning out 1,725.1 thousand metric tons. China was the dominant player, producing 1,562.6 thousand metric tons, with Korea trailing at 53.3 thousand metric tons. Not only are Chinese chestnuts celebrated for their flavor, but they also boast resistance to the chestnut blight. In a bid to combat such diseases, Korea has started cultivating hybrids of Chinese and Japanese chestnuts. Japan, while being a significant consumer, notes that its native chestnuts, though larger, lack the unique flavor profile of their Chinese counterparts.
- As global demand for chestnut flour surges, baked goods worldwide are increasingly featuring this ingredient, driving up both production and exports. China, the dominant player in the chestnut arena as the top producer and exporter, is witnessing a surge in consumption from its neighboring nations. ITC Trade data reveals that in 2023, China's chestnut exports predominantly flowed to Vietnam, Thailand, Turkey, South Korea, and Iraq, with imports tallying 14,013, 7,261, 5,040, 2,528, and 2,282 metric tons respectively. With exports climbing, a rise in production seems inevitable, promising to invigorate the market in the years ahead.
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