Market Trends of India Processed Cashew Industry
This section covers the major market trends shaping the India Processed Cashew Market according to our research experts:
The Major Market Share is Held by Plain/Salted Cashew
The Indian cashew industry is mostly export-oriented. According to the Directorate of Cashew and Cocoa Development India, as of March 2020, more than 3,900 processing units are functioning in India under the organized and unorganized sectors, with a cashew processing capacity of 16.43 lakh metric ton per year. The plain/salted cashews segment accounts for major share in the processed cashew market, as the majority of Indian consumers are engaged in the habit of consuming cashews in its plain form for nutrition. Plain/salted cashews can be consumed in several ways under food/beverage applications on a household basis, which drives the market for plain/salted cashews across the country. Increased applications of plain cashew in Indian cuisine, especially in desserts, is one of the key factors driving the market.
Supermarkets/Hypermarkets Occupied the Largest Market Share
Consumers in metropolitan cities and towns prefer supermarkets and hypermarkets to purchase their daily essentials. Marketing the plain and flavored cashews, through this channel, is expected to contribute toward gaining brand visibility. Moreover, the main strategy followed by hypermarkets and supermarkets is expanding the format into Tier 1 and Tier 2 cities, where they are emerging as major competitors for both unorganized and organized retailers. The chief cities where these hypermarkets are coming up are Delhi, Pune, Bangalore, Hyderabad, Mumbai, and Chennai. Moreover, supermarkets/hypermarkets provide attractive offers and discounts to consumers, as they avail discounts on bulk purchases from the manufacturers of energy drinks and other nutritional beverages.
