Global Cashew Nut (As Kernels) Market is estimated at approximately USD 3.77 billion in 2023 and experiencing a compound annual growth rate (CAGR) of 4.56% during the forecast period 2024-2032. Cashew kernels, derived from the cashew nut, form an integral part of global trade and consumption, finding applications across the food, cosmetics, and pharmaceutical industries. Their high nutritional value, particularly in terms of healthy fats, proteins, and essential vitamins, has positioned them as a preferred choice for consumers seeking nutrient-dense, plant-based foods.
Consumers increasingly gravitate toward healthier snacking options and plant-based proteins, the demand for cashew kernels is set to surge. The food industry, in particular, sees expansive growth opportunities due to the increasing health-consciousness of modern diets. Despite this promising growth, the market encounters challenges, including fluctuating raw cashew nut prices and the labor-intensive nature of its production. Environmental concerns, particularly in the sourcing and processing of cashew nuts, further complicate the landscape. Nonetheless, opportunities abound through product diversification, technological advancements in processing, and the rise of veganism, which could bolster demand for cashew-based products.
Geographically, the Asia-Pacific region dominates global cashew production and export, with India and Vietnam being pivotal players. Africa, specifically countries like Nigeria and Cote d'Ivoire, is quickly emerging as a significant supplier of raw cashew nuts. North America represents one of the fastest-growing markets, driven by increased interest in healthy snacks and plant-based diets, while Europe, especially Western Europe, continues to see robust demand, supported by the rising health-conscious population and dietary shifts toward plant-based products.
Major market players included in this report are:
Olam International Limited
Alphonsa Cashew Industries
DVK Group
Nutsco Inc.
Prime Nuts FZE
Vietnam Cashew Processing Co.
Bismi Cashew Company
The detailed segments and sub-segments of the market are explained below:
By Grade:
White Wholes
Scorched Wholes
Dessert Wholes
White Pieces
Scorched Pieces
Dessert Pieces
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
Demand-side and supply-side analysis of the market