US Walnut Market Update for October 2021
In this month’s market update, we’re focusing on US walnuts in particular because of the amount of effort and developments that have gone on in the industry. Since last year, the CWB (California Walnut Board) has been working hard to ensure that US walnuts remain on top of the market.
Their results had previously been shaken off-course due to the drought in California and shaky market reports but it’s worked. A report revealed by the CWB has shown that not only has marketing helped boost the popularity of California walnuts but also generated interest everywhere. Here’s what happened.
Efforts to Increase Demand
Retail programs were used to drive additional consumption this year when walnuts were not on top of the consumers’ mind. California Walnuts conducted a snacking campaign that ran from May to August, a time of year outside the typical retail promotion period.
A core part of the campaign was a national retail promotion with 26 retailers operating over 7,400 retail locations.
Additionally, media outreach efforts resulted in 1.6 billion messages on walnuts and snacking during the campaign duration. This program was designed to drive snacking usage and encourage retailers to consider promoting walnuts in new ways.
Market Trends
For instance, the California walnut industry continues to face retaliatory tariffs in key markets. The CWC was awarded an additional $3.6 million in federal grant funding to help the industry offset trade losses.
Funds were used for marketing programs to increase consumer awareness in Germany and India and other markets to expand distribution and expand consumption by enhancing retail and foodservice programs to create new distribution points.
These efforts increase purchases where California walnuts were already being sold and encourage new retailers and restaurants to offer California walnuts as part of their selections.
In the UK, Spain, and Japan, the CWC expanded and diversified the use of California walnuts in food service, consumer packaged goods, and retail stores. In the UK, over 1,600 new retail stores now carry California walnuts, and an additional 172 stores are carrying California walnuts in Tokyo, Japan.
