Pistachio Market

The global pistachio market is forecasted to see an upward consumption trend with an anticipated CAGR of +5.3% for the period from 2022 to 2030, leading to a market volume of 1.6M tons by 2030. In value terms, the market is expected to grow with a CAGR of +6.3% to reach $15.2B by the end of 2030. The trends in consumption and production are highlighted, with insights on key importing and exporting countries and their growth rates. Overall, the article provides a comprehensive overview of the global pistachio market and its projected growth.

Market Forecast

Driven by increasing demand for pistachios worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market volume to 1.6M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.3% for the period from 2022 to 2030, which is projected to bring the market value to $15.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Pistachios

In 2022, the amount of pistachios consumed worldwide dropped remarkably to 1.1M tons, falling by -16.1% on the previous year. Overall, the total consumption indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -22.8% against 2020 indices. Global consumption peaked at 1.4M tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global pistachio market size shrank to $9.3B in 2022, falling by -8.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -17.2% against 2020 indices. As a result, consumption reached the peak level of $11.3B. From 2021 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Turkey (244K tons), Iran (196K tons) and the United States (162K tons), with a combined 56% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +11.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest pistachio markets worldwide were Turkey ($2.5B), the United States ($1.6B) and Iran ($1.4B), with a combined 58% share of the global market.

Iran, with a CAGR of +12.4%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of pistachio per capita consumption in 2022 were Turkey (2.9 kg per person), Iran (2.3 kg per person) and Belgium (2.2 kg per person).

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +9.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Pistachios

In 2022, approx. 1.1M tons of pistachios were produced worldwide; waning by -14.5% against 2021 figures. Overall, the total production indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -25.2% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 53% against the previous year. As a result, production attained the peak volume of 1.5M tons. From 2021 to 2022, global production growth remained at a somewhat lower figure. The general positive trend in terms output was largely conditioned by a temperate expansion of the harvested area and a perceptible decline in yield figures.

In value terms, pistachio production contracted modestly to $10.2B in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +23.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 47% against the previous year. As a result, production reached the peak level of $11.2B. From 2017 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (400K tons), Iran (242K tons) and Turkey (239K tons), with a combined 81% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Turkey (with a CAGR of +4.8%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average pistachio yield reduced dramatically to 875 kg per ha in 2022, shrinking by -37.3% compared with 2021. In general, the yield showed a pronounced setback. The pace of growth appeared the most rapid in 2020 with an increase of 97% against the previous year. Over the period under review, the average pistachio yield attained the maximum level at 2.7 tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure.

Harvested Area

In 2022, approx. 1.3M ha of pistachios were harvested worldwide; growing by 36% on the previous year. Over the period under review, the harvested area continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 62% against the previous year. The global harvested area peaked in 2022 and is likely to see gradual growth in the near future.

Imports

World Imports of Pistachios

In 2022, the amount of pistachios imported worldwide fell significantly to 359K tons, declining by -23.1% against the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 22% against the previous year. Global imports peaked at 467K tons in 2021, and then dropped remarkably in the following year.

In value terms, pistachio imports dropped markedly to $2.9B in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 21%. Over the period under review, global imports attained the maximum at $3.7B in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, Germany (50K tons), China (44K tons), Turkey (30K tons), Belgium (25K tons), Italy (22K tons), India (22K tons), Vietnam (17K tons) and Spain (15K tons) was the largest importer of pistachios in the world, constituting 62% of total import. The United Arab Emirates (9.7K tons), Nigeria (9.2K tons), France (8.6K tons), the Netherlands (7.5K tons) and the UK (6.8K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +248.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest pistachio importing markets worldwide were Germany ($462M), China ($297M) and Italy ($234M), together comprising 34% of global imports. Turkey, Belgium, India, Spain, Vietnam, France, the Netherlands, the United Arab Emirates, the UK and Nigeria lagged somewhat behind, together comprising a further 40%.

In terms of the main importing countries, Turkey, with a CAGR of +227.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average pistachio import price stood at $8,085 per ton in 2022, increasing by 4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the peak figure at $8,593 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($10,607 per ton), while Nigeria ($1,357 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Pistachios

In 2022, approx. 378K tons of pistachios were exported worldwide; which is down by -18.7% compared with the year before. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 25%. Over the period under review, the global exports attained the maximum at 477K tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, pistachio exports dropped significantly to $3.1B in 2022. In general, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.8% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 27%. As a result, the exports attained the peak of $3.9B. From 2020 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

The United States was the main exporter of pistachios in the world, with the volume of exports accounting for 239K tons, which was near 63% of total exports in 2022. Iran (47K tons) ranks second in terms of the total exports with a 12% share, followed by Turkey (6.6%). The following exporters - Belgium (13K tons), Germany (13K tons) and the Netherlands (5.9K tons) - together made up 8.3% of total exports.

From 2012 to 2022, average annual rates of growth with regard to pistachio exports from the United States stood at +5.4%. At the same time, Turkey (+26.9%), Belgium (+4.0%) and Germany (+1.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.9% from 2012-2022. By contrast, the Netherlands (-6.4%) and Iran (-8.7%) illustrated a downward trend over the same period. The United States (+26 p.p.) and Turkey (+6 p.p.) significantly strengthened its position in terms of the global exports, while Iran saw its share reduced by -18.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.8B) remains the largest pistachio supplier worldwide, comprising 59% of global exports. The second position in the ranking was held by Iran ($378M), with a 12% share of global exports. It was followed by Turkey, with an 8.4% share.

In the United States, pistachio exports increased at an average annual rate of +6.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (-6.6% per year) and Turkey (+24.5% per year).

Export Prices By Country

In 2022, the average pistachio export price amounted to $8,104 per ton, with an increase of 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2013 when the average export price increased by 21%. The global export price peaked at $8,194 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($10,673 per ton) and Turkey ($10,316 per ton), while the United States ($7,527 per ton) and Iran ($8,102 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+2.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform