Market Size of Cashew Value Chain Analysis
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.78 Billion |
| Market Size (2029) | USD 10.98 Billion |
| CAGR (2024 - 2029) | 4.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Cashew Value Chain Analysis Market Analysis
The Cashew Market size is estimated at USD 8.78 billion in 2024, and is expected to reach USD 10.98 billion by 2029, at a CAGR of 4.60% during the forecast period (2024-2029).
Cashews are rich in healthy fats, protein, and various vitamins and minerals, making them a popular choice among health-conscious consumers. According to the Global Cashew Council, the primary cultivation occurs in India, Vietnam, Cote d'Ivoire, Tanzania, and other countries in East and West Africa, Brazil, and South East Asia. Supporting this widespread cultivation, FAOSTAT data shows that global cashew production reached 3.85 million metric tons in 2022, an increase from 3.82 million metric tons in the previous year.
The versatility of cashews extends beyond direct consumption, as they are increasingly used in plant-based dairy alternatives, such as cashew milk and cheese in developing countries. The International Nut and Dried Fruit Council's Statistical Year Book 2022-2023 identifies cashews as the second most consumed tree nut, representing 19% of total tree nut consumption. To meet this growing demand, countries import cashews from major Asian and African producing regions. ITC Trade Map data indicates that global export volume increased by 25.8% from 700,517 metric tons in 2022 to 881,300 metric tons in 2023, with Vietnam and Nigeria dominating global exports in 2023, contributing 47.9% and 20.2% respectively.
Cashew Value Chain Analysis Industry Segmentation
Cashew nuts are kidney-shaped edible nuts with high oil and protein content, processed through roasting and shelling before consumption. The cashew market segmentation includes grades (White Wholes, Scorched Wholes, Dessert Wholes, White Pieces, Scorched Pieces, and Dessert Pieces) and geographical analysis. The geographical analysis encompasses production volume, consumption metrics by volume and value, import-export analysis by value and volume, and price trends. The report provides market size and forecasts in value (USD) and volume (metric tons) across all segments.
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| White Wholes | |
| Scorched Wholes | |
| Dessert Wholes | |
| White Pieces | |
| Scorched Pieces | |
| Dessert Pieces |
| Geography (Production Analysis in Volume, Consumption Analysis by Volume and Value, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis) | ||||||||
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Cashew Value Chain Analysis Size Summary
The cashew market is poised for steady growth over the forecast period, driven by increasing consumer interest in cashew-based products and the expansion of cashew-infused offerings in both developed and emerging markets. The market's value chain is complex, involving individual growers, cooperatives, local traders, and exporters, all of whom play crucial roles in the production and distribution of cashew nuts. The labor-intensive process of harvesting and processing cashews contributes to their premium pricing, with significant value added at each stage of the supply chain. The market is further bolstered by innovative product launches, such as cashew-butter yogurt in the United States and spice-coated cashews in India, which cater to diverse consumer preferences.
Government initiatives in Africa and Asia-Pacific are enhancing cashew production and processing capabilities, with projects like "The African Cashew Initiative" and trade agreements such as the EU-Vietnam Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership playing pivotal roles. These efforts aim to improve yield and quality, meet international standards, and expand market access. The Asia-Pacific region remains the largest consumer of cashew nuts, with India leading in consumption and Vietnam excelling in production and export. The growing popularity of cashews in daily diets, supported by health policies and innovative marketing campaigns, is driving demand, particularly in China, where nuts are increasingly integrated into the national diet.
Cashew Value Chain Analysis Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Consumption of Cashew Nuts as a Healthy Snack
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1.2.2 Increasing Government initiatives
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1.2.3 Growing Popularity of Plant-Based Diets
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1.3 Market Restraints
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1.3.1 Hazardous Climatic Condition Hinders Cashew Production
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1.3.2 Stringent Regulations Related To Food Quality Standards
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Grade
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2.1.1 White Wholes
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2.1.2 Scorched Wholes
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2.1.3 Dessert Wholes
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2.1.4 White Pieces
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2.1.5 Scorched Pieces
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2.1.6 Dessert Pieces
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2.2 Geography (Production Analysis in Volume, Consumption Analysis by Volume and Value, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.3 Asia-Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Australia
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2.2.3.4 Vietnam
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2.2.3.5 Philippines
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2.2.3.6 Indonesia
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.5 Africa
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2.2.5.1 Cote d'Ivoire (Ivory Coast)
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2.2.5.2 Tanzania
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Cashew Value Chain Analysis Market Size FAQs
How big is the Cashew Market?
The Cashew Market size is expected to reach USD 8.78 billion in 2024 and grow at a CAGR of 4.60% to reach USD 10.98 billion by 2029.
What is the current Cashew Market size?
In 2024, the Cashew Market size is expected to reach USD 8.78 billion.
