Market Size of United States Cashew Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
USA Cashew Market Analysis
The United States Cashew Market size is estimated at USD 1.00 billion in 2023 and is projected to reach USD 1.28 billion by 2028, growing at a CAGR of 5.00% during the forecast period (2023-2028).
Cashew is a highly nutritious and concentrated form of food, providing a substantial amount of energy. The cashew nut kernel has a pleasant taste and flavor and can be eaten raw, fried, and sometimes salted or sweetened with sugar. Cashew nuts are consumed in various forms, including as salty or sweet snacks and as ingredients in desserts and savory dishes, or are further processed into cashew butter or as ingredients in multiple spreads, sauces, bars, and drinks.
The rapidly growing groups of vegans, vegetarians, and occasional meat-eaters in the country prioritize plant-based diets and alternative protein sources instead of those derived from animals, resulting in the soaring demand for nuts and nut-infused food, thereby increasing the consumption of cashew nuts in the country. Also, there has been an increasing application of cashew nuts in the end-user food market, boosting the consumption of cashews in the country.
Cashew kernels are a popular nut with many uses, from snacking to cooking and baking. They are also a good source of nutrients such as protein, healthy fats, and minerals like magnesium and zinc. It's worth noting that the price of cashew kernels can vary depending on the nuts' quality, origin, and availability. Production, processing, and transportation costs can also impact the price. The demand for cashew nuts is expected to grow due to their popularity and versatility.
The health benefits of cashew consumption and demand from the cashew processing industries are the prime drivers of the market in the country. Cashew consumption is mainly concentrated in California, Florida, New York, Texas, and New Jersey. In recent years, consumers have been incorporating cashew nuts into their diets as a snack and ingredient in various food products. This trend is driven by several factors, including the perceived health benefits of cashews, such as their high nutrient content, including healthy fats, protein, and fiber. Moreover, cashews are a versatile ingredient that can be used in various ways, including as a dairy alternative in products like cashew-butter yogurt. The launch of innovative cashew-infused products has helped to fuel the trend, particularly among younger and health-conscious consumers.
USA Cashew Industry Segmentation
Cashews are kidney-shaped edible nuts rich in oil, protein, and fat, which are roasted and shelled before they can be eaten.
The United States cashew market analyzes the production (volume), consumption (value and volume), and trade in terms of import (value and volume), export (value and volume), and the price trend in the country.
The report offers the market size and forecasts in volume (metric ton) and value (USD million) for the above segments.
United States Cashew Market Size Summary
The United States cashew nut market is experiencing a notable expansion, driven by the increasing popularity of plant-based diets and the demand for alternative protein sources. Cashews, known for their nutritional benefits and versatility, are being incorporated into a variety of food products, from snacks to desserts and savory dishes. This trend is particularly evident among health-conscious consumers and those following vegan or vegetarian diets. The market's growth is further supported by the rising awareness of the health benefits associated with cashew consumption, such as their high content of healthy fats, protein, and essential minerals. Despite the lack of commercial cashew production in the United States, the country remains a significant consumer, relying heavily on imports from major exporting countries like Vietnam, Brazil, and India to meet its demand.
The cashew industry in the United States is characterized by a diverse range of applications, including the use of cashew kernels in various food products and the production of cashew-based alternatives like cashew milk and butter. The market is also influenced by the availability and quality of cashew nuts, which can vary based on factors such as origin and processing costs. Innovations in cashew-infused products and the growing acceptance of plant-based diets are contributing to the market's expansion. Additionally, the cashew industry benefits from a structured grading system that ensures quality and consistency, catering to both producers and consumers. As the demand for cashew-based products continues to rise, the market is poised for further growth, supported by ongoing developments and investments in the cashew value chain.
United States 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 Rising Consumption of Cashew Nuts in the Country
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1.2.2 Favorable Government Initiatives
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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 Production Analysis (Volume)
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2.2 Consumption Analysis (Value and Volume)
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2.3 Import Analysis (Value and Volume)
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2.4 Export Analysis (Value and Volume)
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2.5 Price Trend Analysis
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United States Cashew Market Size FAQs
What is the current United States Cashew Market size?
The United States Cashew Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
What years does this United States Cashew Market cover?
The report covers the United States Cashew Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Cashew Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
