Market Size of Cashew Kernel Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 3.77 Billion |
Market Size (2029) | USD 4.72 Billion |
CAGR (2024 - 2029) | 4.56 % |
Fastest Growing Market | Europe |
Largest Market | Asia-Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Cashew Kernel Market Analysis
The Cashew Kernel Market size is estimated at USD 3.77 billion in 2024, and is expected to reach USD 4.72 billion by 2029, growing at a CAGR of 4.56% during the forecast period (2024-2029).
- Cashews are relatively high in fiber when compared with peanuts, which help in gaining a healthy weight by improving digestive function. The rising trend of healthy cashew snacks with high usage of edible cashew kernels as one of the main ingredients in sweets and cooking, especially in Asian cuisine, and a key ingredient in muesli, energy bars, cookies, chocolate, and ice creams that improves bone health.
- According to the Global Cashew Council, in the year 2020/2021, Cote D'Ivoire was the top producer of Raw Cashew Nut (RCN) accounting for 900,000 metric ton, followed by India with 691,000 metric ton, Vietnam with 450,000 metric ton, Nigeria with 260,000 metric ton, Cambodia with 190,000 metric ton, and many others. Additionally, according to a study published in the British Journal of Nutrition, the risk of coronary heart disease can be reduced by 37% in people who consume nuts more than four times a week. With such results, it is expected that more cashew may be used in the manufacture of snack bars, which are a healthy alternative to high-calorie chocolate bars, thus further influencing the consumption of cashew in the developed and developing countries and driving the cashew kernel market, globally. Furthermore, rising number of processing units in African countries of the raw cahew nuts is futher incline to propel demand of the maret studied in coming yeras.
- The cashew kernel market witnessed a rapid shift in the consumption pattern across North America and Asia-Pacific in recent years, primarily due to assorted cashew products occupying an increased share in the retail market space. Asia-Pacific is the largest consumer with the growing consumption inclining toward the use of cashew kernels in daily diets and healthy ready-to-eat snacks.
Cashew Kernel Industry Segmentation
The cashew kernel is a raw nut after going through the processing and grading of cashew nuts in the processing operation units. The market is analyzed for cashew kernels, and processed product form is excluded from the study. The Cashew Kernel Market is Segmented by Grade(White Whole, Scorched Wholes, Dessert Wholes, White Pieces, Scorched Pieces, and Dessert Pieces) and by Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report covers the analysis of the cashew kernel market by Production(Volume), Consumption (Volume and Value), Import (Volume and Value), Export (Volume and Value), and Price(USD per Metric Ton). The report offers market size and forecasts in terms of value (USD million) and volume (metric ton) for all the above segments.
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White Wholes | |
Scorched Wholes | |
Dessert Wholes | |
White Pieces | |
Scorched Pieces | |
Dessert Pieces |
Geography (Production Analysis(volume), Consumption Analysis (Volume and Value),Import Market Analysis (Volume and Value),Export Market Analysis (Volume and Value), and Price Trend Analysis) | ||||||||||
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Cashew Kernel Market Size Summary
The cashew kernel market is experiencing a notable expansion, driven by the increasing demand for healthy snack options and the versatile use of cashew kernels in various culinary applications. Cashews are gaining popularity due to their high fiber content, which supports digestive health and aids in weight management. This trend is particularly evident in Asian cuisine, where cashew kernels are a staple ingredient in sweets, cooking, and a variety of snacks such as muesli, energy bars, cookies, chocolate, and ice creams. The market is further bolstered by the health benefits associated with nut consumption, including reduced risk of coronary heart disease, which is encouraging the use of cashews in snack bars as a healthier alternative to traditional chocolate bars. The growing number of processing units in African countries is also contributing to the market's growth, as it enhances the supply chain and increases the availability of cashew products globally.
Regionally, the Asia-Pacific area stands out as the largest consumer of cashew kernels, with a significant shift in consumption patterns towards healthy ready-to-eat snacks. In Europe, there is a rising willingness to invest in quality foods, with cashew kernels being used extensively as roasted-and-salted snacks and as ingredients in cookies and cereals. The United Kingdom, in particular, is a major consumer of cashew kernels, with a strong market for Fair Trade Certified products. The demand in Europe is further fueled by the increasing consumption and imports, providing opportunities for suppliers from developing countries. In India, the top consumer of cashew kernels, the demand is driven by culinary and confectionery applications, with roasted and flavored cashews being particularly popular. The changing food habits in China, where roasted nuts and seeds are highly sought after, have also led to increased exports from India, highlighting the global nature of the cashew kernel market.
Cashew Kernel 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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1.3 Market Restraints
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1.4 Value Chain/Supply Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Grade
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2.1.1 White Wholes
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2.1.2 Scorched Wholes
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2.1.3 Dessert Wholes
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2.1.4 White Pieces
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2.1.5 Scorched Pieces
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2.1.6 Dessert Pieces
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2.2 Geography (Production Analysis(volume), Consumption Analysis (Volume and Value),Import Market Analysis (Volume and Value),Export Market Analysis (Volume and Value), and Price Trend Analysis)
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.3 Asia-Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Australia
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2.2.3.4 Viet Nam
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2.2.3.5 Philippines
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2.2.3.6 Indonesia
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.5 Africa
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2.2.5.1 Nigeria
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2.2.5.2 Benin
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2.2.5.3 Tanzania
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2.2.5.4 Cote d'lvoire
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2.2.5.5 Ghana
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2.2.5.6 Guinea-Bissau
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2.2.5.7 Mozambique
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2.2.5.8 Burkina Faso
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Cashew Kernel Market Size FAQs
How big is the Cashew Kernel Market?
The Cashew Kernel Market size is expected to reach USD 3.77 billion in 2024 and grow at a CAGR of 4.56% to reach USD 4.72 billion by 2029.
What is the current Cashew Kernel Market size?
In 2024, the Cashew Kernel Market size is expected to reach USD 3.77 billion.