Asia-Pacific Cashew Market Size (2024 - 2029)

The Asia-Pacific cashew market is experiencing growth, driven by its significant role in global trade and processing. The region, with major producers like Vietnam, India, Sri Lanka, Indonesia, and the Philippines, contributes substantially to the market's expansion. Smallholding farms dominate cultivation, while medium- and large-scale plantations also play a role. China's increasing import demand to satisfy domestic consumption further propels the market. This dynamic landscape underscores the market's potential for continued growth in the coming years.

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Market Size of Asia-Pacific Cashew Industry

Asia Pacific Cashew Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 7.26 Billion
Market Size (2029) USD 9.01 Billion
CAGR (2024 - 2029) 4.44 %

Major Players

Asia-Pacific Cashew Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Cashew Market Analysis

The Asia-Pacific Cashew Market size is estimated at USD 7.26 billion in 2024, and is expected to reach USD 9.01 billion by 2029, growing at a CAGR of 4.44% during the forecast period (2024-2029).

  • The cashew tree is found worldwide, but it is mostly grown commercially in Northeastern Brazil, Southeast Venezuela, and India. Today, cashew trees grow in other tropical and warm regions, such as Southeast Asia, Africa, and India. More than 80% of cashew cultivation is done by smallholding farms, ranging in size from 0.5 ha to 5 ha in countries of Asia. Medium- and large-scale commercial plantations produce 10-15% of the total production by employing hired laborers in the region.
  • Major cashew nut-producing countries in Asia-Pacific are Vietnam, India, Sri Lanka, Indonesia, and the Philippines. The region is the pioneer of cashew trade and processing on the global platform, which drives the market during the forecast period. According to Food and Agriculture Organization (FAO), India and Vietnam were the two major cashew producers, which accounted for 738 thousand metric tons and 399.3 thousand metric tons, respectively, in 2021. The largest exporting countries in quantities are the Philippines, Indonesia, and Vietnam, which export more than 70%.
  • China imports a large volume of cashews to cater to domestic consumption. The country is increasingly importing cashews to cater to this rapidly growing demand. According to official data from the China Customs Bureau, Chinese cashew imports have increased significantly. For instance, in 2021, China imported cashew nuts worth USD 190.9 thousand, an increase of 26.4% compared to 2020. These factors boost the market and are expected to grow in the coming years.

APAC Cashew Industry Segmentation

Cashew nuts are edible kidney-shaped nuts belonging to the Anacardiaceae family, rich in oil and protein, and are roasted and shelled before being eaten. Oil extracted from the shells is used as a lubricant in the production of plastics.

The Asia-Pacific cashew market is segmented by geography (Vietnam, India, China, Japan, Australia, Indonesia, and the Philippines). The report includes production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis.

The report offers the market size and forecasts in terms of both value (USD) and volume (metric ton) for all the above segments.

Geography (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis)
China
Vietnam
India
Indonesia
Sri Lanka
Japan
Philippines
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Asia-Pacific Cashew Market Size Summary

The Asia-Pacific cashew market is poised for significant growth, driven by its status as a leading region in cashew production and trade. The market is characterized by a substantial contribution from smallholding farms, with medium and large-scale plantations also playing a role. Major producing countries such as Vietnam, India, Sri Lanka, Indonesia, and the Philippines are at the forefront, with India and Vietnam being the largest producers globally. The region's dominance in cashew trade and processing is a key factor propelling market expansion. Additionally, China's increasing demand for imported cashews to meet domestic consumption needs further stimulates market growth, despite challenges in meeting quality requirements for certain varieties.

Cashews are highly valued for their nutritional benefits and versatility in culinary applications, which bolsters their consumption both regionally and globally. The confectionery industry, in particular, sees significant use of cashews, especially in China, where demand continues to rise. India stands out as a major consumer of cashew kernels, with a significant portion of its production consumed domestically. The ongoing increase in production across the region, driven by high export demand and favorable processing conditions, positions Asia-Pacific as a critical player in the global cashew market. The ability of Vietnam and India to maintain competitive pricing through efficient processing and extensive output further strengthens their market positions, ensuring continued growth in the coming years.

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Asia-Pacific 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 Analysis

  2. 2. MARKET SEGMENTATION

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

      1. 2.1.1 China

      2. 2.1.2 Vietnam

      3. 2.1.3 India

      4. 2.1.4 Indonesia

      5. 2.1.5 Sri Lanka

      6. 2.1.6 Japan

      7. 2.1.7 Philippines

Asia-Pacific Cashew Market Size FAQs

The Asia-Pacific Cashew Market size is expected to reach USD 7.26 billion in 2024 and grow at a CAGR of 4.44% to reach USD 9.01 billion by 2029.

In 2024, the Asia-Pacific Cashew Market size is expected to reach USD 7.26 billion.

APAC Cashew Market Report Snapshots

Asia-Pacific Cashew Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)