Pumpkin Seeds Market Size 2023-2027

The pumpkin seeds market size is estimated to increase by USD 1.07 billion, growing at a CAGR of 13.92% between 2022 and 2027. The predominant trend in the market is the escalating availability through online retailers. With the proliferation of e-commerce businesses globally, companies stand to enhance their profitability. The increasing number of Internet users, coupled with their predisposition towards immediate purchases, has significantly fueled the expansion of this retail channel. As the global population of online shoppers continues to rise, sales through this medium are poised for further growth. Customers opt for online shopping, preferring to settle payments using credit or debit cards, thereby circumventing the inconvenience of travel and checkout queues.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

By Application

The market share growth by the food segment will be significant during the forecast period. Demand for the seeds and pumpkin seed-based products has increased and is expected to remain at a high level during the forecast period. This is due to the growing awareness of the health benefits of eating them.

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The food segment was valued at USD 721.38 million in 2017 and continued to grow until 2021. Pumpkin seed sales are increasing worldwide, with North American countries such as the United States, Canada, and Mexico being the largest contributors. In the food industry, they are touted as a packaged superfood and as an additive in granola, baked goods, granola bars, and peanut butter. Aside from consuming raw seeds as a snack, they are also commonly used as an additive to juices, yogurt, pasta, granola, smoothies, salads, and even sports nutrition products.

By Region

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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC accounts for almost two-thirds of the world's production. China and India are the two largest countries in the region, together accounting for almost 45% of global production. The main exporters of pumpkins and pumpkin seeds are based in this area.

Over the last five years, the growth in production and consumption has not been as great as it was in the 1990s and early 2000s. This is due to several factors, including a growing awareness of other superfood seeds such as chia, sunflower, quinoa, and hemp seeds. Increased use of palm oil and sunflower oil for cooking purposes has dampened the demand for pumpkin seed oil and its extracts, resulting in slower growth of the regional market during the forecast period.

Market Dynamics and Customer Landscape

The market is experiencing a surge in demand, driven by health-conscious consumers seeking natural remedies for various ailments. Rich in fibre and BCAAs (Branched-Chain Amino Acids), pumpkin seeds are gaining recognition for their potential to promote cardiovascular health and soothe skin irritation. As awareness of the link between diet and disease prevention grows, more consumers are turning to plant-based alternatives like pumpkin seeds to enhance their heart health and overall well-being. Additionally, the moisture-retaining properties of pumpkin seeds make them a popular choice in skincare products. With a shift away from animal products and dairy, the pumpkin seeds market is poised for continued growth as consumers embrace the medicinal benefits of this versatile superfood. Rich in zinc, vitamins, and fiber content, pumpkin seeds offer a range of health benefits, including support for cardiovascular health and liver health. Their anti-inflammatory properties and skin soothing properties make them popular among individuals seeking relief from various ailments. Moreover, pumpkin seeds contain a favorable amino acid profile, making them a preferred choice for athletes and those looking to optimize their sleep quality. With positive health effects on conditions like diabetes and a focus on overall well-being, pumpkin seeds are increasingly recognized as a valuable addition to both diet and medicine. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The surge in demand as both a delectable ingredient and a wholesome snack is significantly propelling market expansion. With a rising global interest in superfood snacks, consumers are actively seeking nutritious options that also enhance the flavors of their meals. They offer versatility, available in various forms such as salted, dried, spicy, and even as cinnamon-coated varieties, catering to diverse taste preferences. Additionally, the popularity of seed butter has surged in numerous regions, further driving consumption. Companies are capitalizing on this trend by introducing innovative products like granola and snack bars, appealing to health-conscious consumers seeking convenient yet nutritious options. Furthermore, the adaptability of pumpkin seeds as an additive in salads, vegetable dishes, granola, meat burgers, muffins, pasta, and potato dishes further enhances their appeal across various culinary applications.

One notable example is the incorporation of seeds in granola bars, where they are combined with rolled oats, nuts, seeds, dates, and soy butter to create wholesome yet satisfying snacks. Consumers favor whole, unshelled seeds due to their higher protein content compared to shelled counterparts, indicating a preference for nutritional richness. This increasing popularity across food products and snacks is poised to drive substantial growth in the global market throughout the forecast period.

Significant Market Trends

The increasing availability through online retailers is the major trend in the market. With the growth of e-commerce businesses around the world, companies are likely to become more profitable. The growing number of Internet users and their buy-now attitudes have contributed to the growth of this retail channel. As the number of online shoppers around the world grows, sales through this channel will grow even more. Customers shop online and prefer to pay for their orders with credit or debit cards, avoiding time-consuming travel and checkout lines. The online shopping portal has enhanced security features for efficient customer service and payments, as well as a customer-friendly website design with improved product visibility.

This trend has led various manufacturers to explore the world of new online retail formats, focusing on internet-savvy customer bases. This form of business helps companies save operating costs and overheads. The online retail format has lower costs than the brick-and-mortar format. Hence, increasing availability by online retailers is driving the growth of the global market during the forecast period.

Major Market Challenge

The intense competition from other superfood products like quinoa- and hemp-based food products may impede the market growth. The market is witnessing slowing growth as they still occupy a niche category in the global health food market. Therefore, year-on-year growth will slow slightly as market penetration of these superfoods increases. Demand is increasing, but growth is expected to slow down during the forecast period. The products primarily advertise health benefits. On the other hand, hemp is a source of two proteins called edestin and albumin, also known as globular proteins. These globular proteins are readily soluble, making them easily accessible to the body. The development of hemp as a superfood has significantly increased the demand for hemp-based foods, as hemp contains high concentrations of two essential fatty acids (EFAs), namely omega-3 and omega-6.

Similarly, quinoa is a naturally gluten-free ingredient. A growing number of health-conscious consumers around the world prefer gluten-free foods to common gluten-free foods due to their nutritional value and antioxidants. Antioxidants neutralize free radicals and help fight aging and many diseases. The increase in demand for quinoa is primarily due to its development as a superfood due to its nutritional profile. Rich in protein, it contains all eight essential amino acids that the human body cannot produce. Therefore, fierce competition from other superfood products, such as quinoa and hemp-based foods, is impeding the growth of the global market during the forecast period. 

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Pumpkin Seeds Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AKS NEV Ltd.: The company offers pumpkin seed Lady Nails, Ukrainian and Chinpumpkin seeds shine skin and snow white, to the final products for human consumption wheat flour, confectionery sunflower and pumpkin seeds, sunflower kernels, Walnuts, and different kinds of nuts.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Antonio Foods
• Conagra Brands Inc.
• Conscious Food Pvt. Ltd.
• Ebro Foods SA
• Giant Snacks Inc.
• Happilo International Pvt. Ltd.
• Howard Dill Enterprises
• HW Wellness Solutions Pvt. Ltd.
• Johnvince Foods Ltd.
• Krispy Kernels
• McCormick and Co. Inc.
• Meridian foods Ltd.
• Nestle SA
• PepsiCo Inc.
• Prana Organic
• Rizhao Golden Nut Group
• Seeds for Africa
• Shandong Farmer Land Foodstuff Co. Ltd.
• Shandong Jinsheng Cereals and Oils Industrial Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Application Outlook 
  • Food
  • Seed oil production
  • Nutraceuticals
• Type Outlook 
  • Conventional
  • Organic
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

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Market Analyst Overview

The market is experiencing significant growth driven by various factors such as increasing consumer awareness about health benefits and the rising demand for healthy snacks. Pumpkin seeds, also known as pepita, are rich in fiber, magnesium, and essential minerals, making them ideal for cardiovascular health and skin-soothing properties. With health-conscious consumers seeking nutritious options, pumpkin seeds are gaining popularity as healthy snacks and ingredients in processed food products like confectionery items, bakery products, and chocolate bars. Additionally, the cultivation of pumpkins faces challenges like abiotic stresses, requiring advanced farming techniques. Roasted pumpkin seeds and pumpkin seed extracts are widely used in the food and beverage sector, especially in Mexican cuisine, enriching dishes like enchiladas and soups. Moreover, pumpkin seed protein is gaining traction in the dietary supplement sector, offering essential nutrients for fitness and health enthusiasts across all age groups. The market also caters to various industry sectors, including pharmaceuticals and cosmetics, owing to the health advantages and nutrient-rich profile of pumpkin seeds.

Moreover, the market is thriving due to various factors such as increasing awareness among health-conscious consumers and the rising demand for nutritious snack options. Pumpkin seeds, derived from the pumpkin fruit, are rich in dietary fiber, carotenoids, and vitamin E, making them beneficial for cardiovascular health and combating mineral deficiencies. Despite challenges like droughts, floods, and pests affecting cultivation, the organic segment of pumpkin seeds remains popular for its health benefits and minimal environmental impact. These versatile seeds are used in a wide range of products, including confectionery items like biscuits and cookies, as well as in plant-based foods like tacos and tortillas. Additionally, pumpkin seed powder, known for its high-quality oils and BCAAs, caters to various segments such as food and beverages, animal feed, and cosmetics. With growing demand from consumers of all ages seeking natural and organic products, the pumpkin seeds market continues to expand, offering health-conscious individuals a nutritious and flavorful snack option.

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What are the Key Data Covered in this Pumpkin Seeds Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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