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South America Cashew Market Size (2024 - 2029)

The South America cashew market is projected to experience growth over the forecast period, driven by increasing demand for healthier and sustainably-produced food options. Despite the negative impact of Covid-19, which disrupted demand and distribution channels, the market is expected to expand as consumer preferences shift towards snack products. South America, recognized as the origin of cashews, includes key producing countries such as Brazil, Chile, Colombia, and Bolivia. The region's cashew exports are significantly traded with North American countries, particularly the United States, as well as major importing nations like Vietnam and India.

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Market Size of South America Cashew Industry

South America Cashew Market Bar Graph
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 582.24 Billion
Market Size (2029) USD 750.20 Billion
CAGR (2024 - 2029) 5.20 %

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South America Cashew Market Analysis

The South America Cashew Market size is estimated at USD 582.24 billion in 2024, and is expected to reach USD 750.20 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).

Covid-19 has a direct and negative impact on the cashew market. The lockdown restrictions in the country have disrupted the demand for cashew nuts due to the lack of purchasing power resulting from reduced income. The value chain of the cashew market is affected negatively as a result of a disrupted distribution channel that tends to lower the end-products of cashew nuts in the market. This demand for cashew is expected to continue increasing as it is stimulated by the continuing trend towards healthier nutrition and a strong preference for sustainably-produced foods and fueled by the rapidly increasing request for snack products is driving the market. South America is globally regarded as the place of origin of cashews. Major cashew growing countries in the region are Brazil, Chile, Colombia, and Bolivia, amongst others. The United States and the other North American countries are the major cashew trade partners of South America. The largest importing countries in terms of value are Vietnam, India, and the United States.

South America Cashew Industry Segmentation

Cashew nuts are edible kidney-shaped nuts, rich in oil and protein, and are roasted and shelled before eaten. The South America Cashew Market offer Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis.

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South America Cashew Market Size Summary

The South America cashew market is poised for significant growth, driven by increasing consumer demand for healthier and sustainably-produced foods. The region, known as the origin of cashews, includes major producing countries such as Brazil, Chile, Colombia, and Bolivia. Despite the challenges posed by the COVID-19 pandemic, which disrupted demand and distribution channels, the market is expected to expand steadily. The trend towards snack products and the preference for nutritious options are key factors propelling this growth. South American countries are actively engaging in trade initiatives, particularly Brazil, which is leveraging events through its Agency for Promotion of Exports and Investments to enhance its cashew trade. The region's trade dynamics are further supported by partnerships with North American countries and major importing nations like Vietnam and India.

The market's expansion is also influenced by the price sensitivity of cashew consumption, which directly impacts consumer purchasing power. High prices can lead consumers to switch to alternative nuts or snacks, highlighting the importance of price competitiveness for Brazilian exports. The majority of cashew kernels are consumed as roasted and salted snacks or as ingredients in various food products, such as chocolate and ice cream. Additionally, cashew apples are enjoyed both fresh and processed, contributing to the market's diversity. The ongoing promotion of the health benefits of nut consumption through scientific research and reports continues to support the demand for cashews in the region.

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South America Cashew Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain/Supply Chain Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Geography (Production Analysis, Consumption Analysis by Value & Volume, Import Analysis by Value & Volume, Export Analysis by Value & Volume and Price Trend Analysis)

    2. 2.2 Argentina

    3. 2.3 Brazil

    4. 2.4 Chile

    5. 2.5 Colombia

    6. 2.6 Peru

South America Cashew Market Size FAQs

The South America Cashew Market size is expected to reach USD 582.24 billion in 2024 and grow at a CAGR of 5.20% to reach USD 750.20 billion by 2029.

In 2024, the South America Cashew Market size is expected to reach USD 582.24 billion.

South America Cashew Market Report Snapshots

South America Cashew Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)