Market Size of India Cashew Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.40 Billion |
| Market Size (2029) | USD 2.9 Billion |
| CAGR (2024 - 2029) | 3.80 % |
India Cashew Market Analysis
The India Cashew Market size is estimated at USD 2.40 billion in 2024, and is expected to reach USD 2.9 billion by 2029, growing at a CAGR of 3.80% during the forecast period (2024-2029).
- India is among the major cashew-producing countries globally. According to the India Brand Equity Foundation (IBEF), 2024, the cultivation of cashews in India covers a total of 0.7 million hectares of land, and the country produces over 0.8 million tons (MT) annually. As per the Directorate of Cashewnut and Cocoa Development, Kochi, cashew has a valuable foreign exchange of about USD 0.47 billion annually. It employs about 15 lakh people in the processing and agrarian sectors.
- In recent years, the cashew market has seen a rapid shift in the consumption pattern across India, primarily owing to flavored assorted cashew products occupying an increased share in the retail market space. In India, cashew is grown in Kerala, Karnataka, Goa, and Maharashtra along the west coast and Tamil Nadu, Andhra Pradesh, Orissa, and West Bengal along the east coast. Cashew is also being cultivated in Chhattisgarh, Northeastern States (Assam, Manipur, Tripura, Meghalaya, and Nagaland) and Andaman Nicobar Islands to a limited extent. However, Maharashtra, Andhra Pradesh, Odisha, Karnataka, and Tamil Nadu are the major states, as per the Press Information Bureau (PIB), 2023.
- With increasing health consciousness, consumers are choosing to snack healthy, so the demand for flavored cashews is rising in India. In India, cashew nuts are available as roasted, salted, flavored, and coated with spices, honey, etc. Value-added products, like cashew powder, butter, and drinks, are available in the market. However, the cashew market in the country is likely to be hampered as the local population prefers other lighter snacks, available at lower prices, for on-the-go snacking.
India Cashew Industry Segmentation
Cashew nuts are edible kidney-shaped nuts, rich in oil and protein, and are roasted and shelled before being eaten.
The Indian cashew market report analyzes the production (volume), consumption (value and volume), and trade in terms of import (value and volume), export (value and volume), and price trend analysis.
The report offers the market size and forecasts in terms of volume in metric tons and value in USD for all the above segments.
India Cashew Market Size Summary
The cashew market in India is a significant segment of the agricultural and food processing industry, with the country being one of the largest producers globally. The cultivation of cashews spans several states, with major production areas including Maharashtra, Andhra Pradesh, Odisha, Karnataka, and Tamil Nadu. The market has witnessed a shift in consumer preferences towards flavored and value-added cashew products, driven by increasing health consciousness among consumers. This trend has led to the introduction of various cashew-based snacks and products, such as cashew milk, which cater to the demand for healthier snacking options. Despite the growing popularity of cashews, the market faces challenges due to competition from other affordable snack options.
India's cashew processing industry is well-established, with a strong presence in states like Goa, Kerala, and Karnataka. The country is a global hub for cashew processing and export, known for its high-quality cashew kernels. Indian companies are expanding their operations to meet both domestic and international demand, with investments in plantations and processing facilities in Africa. The market is supported by technological advancements and initiatives aimed at boosting production and processing efficiency. These developments, along with strategic investments and research advancements, are expected to enhance India's position in the global cashew market, ensuring sustained growth and development in the coming years.
India Cashew 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 Market Restraints
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Production Analysis
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2.2 Consumption Analysis (Volume and Value)
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2.3 Import Market Analysis (Volume and Value)
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2.4 Export Market Analysis (Volume and Value)
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2.5 Price Trend Analysis
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India Cashew Market Size FAQs
How big is the India Cashew Market?
The India Cashew Market size is expected to reach USD 2.40 billion in 2024 and grow at a CAGR of 3.80% to reach USD 2.9 billion by 2029.
What is the current India Cashew Market size?
In 2024, the India Cashew Market size is expected to reach USD 2.40 billion.
