Market Size of North America Cashew Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.10 Billion |
| Market Size (2029) | USD 1.29 Billion |
| CAGR (2024 - 2029) | 3.05 % |
North America Cashew Market Analysis
The North America Cashew Market size is estimated at USD 1.10 billion in 2024, and is expected to reach USD 1.29 billion by 2029, at a CAGR of 3.05% during the forecast period (2024-2029).
Cashews grown in North America contain lower selenium levels compared to those from tropical regions. The United States and Canada drive most of the regional demand for cashews. As the region does not produce cashews as a primary crop, it relies on African and Asia-Pacific countries to meet market demand. The United States and Canada remain the largest importers of cashews from Vietnam and Brazil. In 2023, these two countries accounted for 90% of the total shelled cashew imports to the United States and Canada, according to the ITC Trade Map.
Canada is taking steps to improve its cashew production capabilities. Public organizations are collaborating with international cashew producers to increase domestic sustainability in cashew production and consumption. In 2022, the University of Toronto's BRIDGE Innovation Hub partnered with Ghanaian researcher Edwina Apaw to support cashew farmers in Ghana, focusing on entrepreneurship and innovation to improve farmer livelihoods and ensure quality supply.
Cashew nuts are imported, exported, and distributed in various forms, including shelled, raw, and salted. The end-user food market in North America has seen increasing applications for cashew nuts. Snack items account for over 60% of cashew demand. Raw or roasted cashews are also used to produce cashew butter, serving as an alternative to peanut butter for individuals with peanut allergies. The market's growth in the region is expected to be driven primarily by increased consumption of cashew nuts as ready-to-eat snacks and rising demand in the processing and commercial food industry during the forecast period.
North America Cashew Industry Segmentation
Cashew nuts are edible kidney-shaped nuts from the Anacardiaceae family, rich in oil and protein, and roasted and shelled before being eaten. The complete analysis of the global production is focused on in-shell cashew nuts. Trade of in-shell cashew nuts is nearly negligible in the region compared to shelled cashews. Hence, the analysis of the report considers imports and exports of shelled cashews. The North American cashew market is segmented by geography into (the United States, Canada, and Mexico). The report covers the extensive study of production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis of the cashew market, in addition to the value chain analysis. The report offers market size in terms of both value (USD) and volume (metric tons) for the above-mentioned segments.
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North America Cashew Market Size Summary
The North American cashew market is characterized by its reliance on imports, primarily from India and Brazil, as the region does not produce cashews as a major crop. The United States and Canada are the largest consumers, with significant demand for shelled cashews, which are imported in various forms such as raw and salted. The market is driven by the increasing use of cashews in the food industry, particularly in snack items and as alternatives to peanut products. The growing trend towards healthy, ready-to-eat snacks has led to a rise in the consumption of cashews, supported by their nutritional benefits, including being a good source of magnesium. This trend is expected to continue, contributing to the market's growth over the forecast period.
Efforts to enhance local production are underway, particularly in Canada, where collaborations with international partners aim to boost sustainable cashew production. Despite these efforts, the United States remains predominantly import-dependent, with significant exports to countries like Canada, Vietnam, and Mexico. The market dynamics are influenced by factors such as imported cashew prices and consumer demand, which drive the introduction of new products by distributors and manufacturers. The region's market is poised for growth, supported by increasing consumer interest and strategic initiatives to expand production capabilities.
North America 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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1.2.1 Increasing Consumption Owing to Nutritional Benefits of Cashew
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1.2.2 Growth in Food Processing and Value-Added Products
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1.2.3 Expansion of Retail and Online Distribution Channels
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1.3 Market Restraints
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1.3.1 Increasing Competition from Other Nut Options
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1.3.2 High Dependence on Imports and Supply Chain Risks
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1.4 Value Chain / Supply Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 United States
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2.1.1.1 Production Analysis
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2.1.1.2 Consumption Analysis by Volume and Value
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2.1.1.3 Import Analysis by Volume and Value
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2.1.1.4 Export Analysis by Value and Volume
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2.1.1.5 Price Trend Analysis
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2.1.2 Canada
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2.1.2.1 Production Analysis
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2.1.2.2 Consumption Analysis by Volume and Value
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2.1.2.3 Import Analysis by Volume and Value
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2.1.2.4 Export Analysis by Value and Volume
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2.1.2.5 Price Trend Analysis
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2.1.3 Mexico
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2.1.3.1 Production Analysis
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2.1.3.2 Consumption Analysis by Volume and Value
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2.1.3.3 Import Analysis by Volume and Value
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2.1.3.4 Export Analysis by Value and Volume
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2.1.3.5 Price Trend Analysis
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North America Cashew Market Size FAQs
How big is the North America Cashew Market?
The North America Cashew Market size is expected to reach USD 1.10 billion in 2024 and grow at a CAGR of 3.05% to reach USD 1.29 billion by 2029.
What is the current North America Cashew Market size?
In 2024, the North America Cashew Market size is expected to reach USD 1.10 billion.
