Market Size of Cashew Kernel Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.77 Billion |
| Market Size (2029) | USD 4.72 Billion |
| CAGR (2024 - 2029) | 4.56 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
Cashew Kernel Market Analysis
The Cashew Kernel Market size is estimated at USD 3.77 billion in 2024, and is expected to reach USD 4.72 billion by 2029, growing at a CAGR of 4.56% during the forecast period (2024-2029).
Cashews are rich in fiber, contributing to healthy weight management and improved digestive health. These nutritional properties have increased the popularity of cashew-based snacks. Cashew kernels are now used in various products, including confectionery, Asian cuisine, muesli, energy bars, cookies, chocolates, and ice creams, partly due to their potential to promote bone health.
The Center for WTO and International Trade - VCCI reports that the Ivory Coast leads global raw cashew nut production, contributing 25% of the world's supply with 1.25 million metric tons in 2023. Vietnam, the primary importer of Ivorian cashews, processes 65-85% of this annual output. Vietnam also manages nearly 65% of global raw cashew imports and accounts for about 80% of cashew kernel exports. To strengthen its cashew processing industry, the Ivory Coast is offering incentives to attract investors.
North America and Asia-Pacific have experienced a shift in cashew consumption patterns, driven by the increased availability of diverse cashew products in retail markets. Asia-Pacific is the largest consumer, with growing trends of incorporating cashew kernels into daily diets and choosing healthier ready-to-eat snacks.
Cashew Kernel Industry Segmentation
A cashew kernel is the edible part of the cashew nut, which is the seed found inside the cashew apple. After the outer shell is removed through processing, the kernel is what remains and is typically the part that is consumed. The market is analyzed for cashew kernels, and processed product form is excluded from the study. The Cashew Kernel Market is Segmented by Grade(White Whole, Scorched Wholes, Dessert Wholes, White Pieces, Scorched Pieces, and Dessert Pieces) and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report covers the analysis of the cashew kernel market by Production(Volume), Consumption (Volume and Value), Import (Volume and Value), Export (Volume and Value), and Price trend. The report offers market size and forecasts in terms of value (USD) and volume (metric tons) for all the above segments.
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| White Wholes | |
| Scorched Wholes | |
| Dessert Wholes | |
| White Pieces | |
| Scorched Pieces | |
| Dessert Pieces |
| Geography (Production Analysis(volume), Consumption Analysis (Volume and Value),Import Market Analysis (Volume and Value),Export Market Analysis (Volume and Value), and Price Trend Analysis) | ||||||||||
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Cashew Kernel Market Size Summary
The cashew kernel market is experiencing a notable expansion, driven by the increasing demand for healthy snack options and the versatile use of cashew kernels in various culinary applications. Cashews are gaining popularity due to their high fiber content, which supports digestive health and aids in weight management. This trend is particularly evident in Asian cuisine, where cashew kernels are a staple ingredient in sweets, cooking, and a variety of snacks such as muesli, energy bars, cookies, chocolate, and ice creams. The market is further bolstered by the health benefits associated with nut consumption, including reduced risk of coronary heart disease, which is encouraging the use of cashews in snack bars as a healthier alternative to traditional chocolate bars. The growing number of processing units in African countries is also contributing to the market's growth, as it enhances the supply chain and increases the availability of cashew products globally.
Regionally, the Asia-Pacific area stands out as the largest consumer of cashew kernels, with a significant shift in consumption patterns towards healthy ready-to-eat snacks. In Europe, there is a rising willingness to invest in quality foods, with cashew kernels being used extensively as roasted-and-salted snacks and as ingredients in cookies and cereals. The United Kingdom, in particular, is a major consumer of cashew kernels, with a strong market for Fair Trade Certified products. The demand in Europe is further fueled by the increasing consumption and imports, providing opportunities for suppliers from developing countries. In India, the top consumer of cashew kernels, the demand is driven by culinary and confectionery applications, with roasted and flavored cashews being particularly popular. The changing food habits in China, where roasted nuts and seeds are highly sought after, have also led to increased exports from India, highlighting the global nature of the cashew kernel market.
Cashew Kernel 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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1.3 Rising Popularity of Cashew Nuts in Diets
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1.4 Increasing Efforts to Enhance Cashew Production
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1.5 Export Opportunities
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1.6 Market Restraints
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1.7 Competition from Other Nuts
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1.8 Weather Uncertainties Impacting Cashew Production
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1.9 Value Chain/Supply 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(volume), Consumption Analysis (Volume and Value),Import Market Analysis (Volume and Value),Export Market Analysis (Volume and Value), 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 Viet Nam
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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 Nigeria
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2.2.5.2 Benin
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2.2.5.3 Tanzania
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2.2.5.4 Cote d'lvoire
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2.2.5.5 Ghana
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2.2.5.6 Guinea-Bissau
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2.2.5.7 Mozambique
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2.2.5.8 Burkina Faso
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Cashew Kernel Market Size FAQs
How big is the Cashew Kernel Market?
The Cashew Kernel Market size is expected to reach USD 3.77 billion in 2024 and grow at a CAGR of 4.56% to reach USD 4.72 billion by 2029.
What is the current Cashew Kernel Market size?
In 2024, the Cashew Kernel Market size is expected to reach USD 3.77 billion.
