Global Cashews Market Outlook, 2029

The Cashews Industry holds a significant place in global agriculture and commerce, driven by the cultivation and processing of cashew nuts, which are renowned for their nutritional value and versatile applications. Historically, cashews originated in north-eastern Brazil and were later introduced to regions across Africa, Asia, and Latin America. Because of its medicinal benefits, cashews are frequently included into traditional medicine practices and local cuisines, contributing to the industry's cultural relevance across many locations. Government laws are essential in guaranteeing fair trade practices, quality standards, and environmental sustainability in the cashew industry. To preserve industry integrity and promote economic progress, these rules cover labour requirements, export-import guidelines, and agriculture policies. Technological developments in harvesting, processing, and packaging have revolutionized the sector over time, increasing production and product diversity while satisfying rising demand worldwide. Growing consumer knowledge of the health benefits of cashews, including immune support and heart health, is propelling the industry's evolution. Innovation and sustainability initiatives aim to protect natural resources and improve socioeconomic conditions in cashew-producing regions across the globe. According to the research report, “Global Cashews Market Outlook, 2029” published by Bonafide Research, the market was valued around USD 7.84 Billion in 2023. The growing demand for plant-based cuisine and nutritious snacks around the world is expected to propel the cashew industry's strong growth. The market is growing into new application areas outside typical snacking as a result of growing consumer knowledge of the nutritional advantages of cashews, such as their high level of healthy fats, vitamins, and minerals. The adoption of healthier lifestyles that prioritize wholesome and easy food options, together with the increasing global popularity of vegan and vegetarian diets, are significant development drivers. Technological developments in cashew processing have improved the variety and quality of cashew products, meeting changing customer demands and impacting market dynamics. In addition, the sector gains from the strategic positions of important producing nations like Vietnam, Ivory Coast, and India, which guarantee a steady supply chain and affordable prices. Sustaining the industry's growth trajectory through on-going investments in processing facilities, distribution networks, and agricultural techniques is anticipated, positioning cashews as a key player in the growing global market for sustainable and health-conscious food options.

Market Drivers •Benefits to Health and Nutrition: Cashews are becoming more and more known for their high nutritional content, which includes healthy fats, proteins, vitamins (including B vitamins), and minerals (such zinc and magnesium). These qualities make them well-liked by people looking for natural, high-nutrient foods that are also health-conscious. Because of its potential advantages for heart health, weight management, and general wellness, cashews are frequently used in a variety of health foods, snacks, and plant-based substitutes. Demand in both established and emerging economies is being driven by the increasing knowledge of these health benefits. •Numerous Uses in the Food Business: Cashews are a flexible and extensively employed ingredient in the food business, appearing in a variety of forms including whole nuts, pieces, and snacks, confections, baked goods, and recipes. They are a desired addition to both savory and sweet recipes because of their mild flavor and creamy texture. The uses of cashews have grown as a result of the growing acceptance of plant-based diets and consumer demand for natural components in processed goods. Additionally, new cashew-based goods have been introduced as a result of advancements in product development and food processing methods, meeting changing customer preferences and expanding the market. Market Challenges

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Manmayi Raval

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•Supply Chain Vulnerabilities: Because the cashew market depends so heavily on a small number of major producing nations—Vietnam, India, and the Ivory Coast—it is extremely vulnerable to interruptions in the supply chain. Any unfavorable weather in these areas, including droughts or heavy rainfall, can have a big effect on agricultural output and the world supply. Furthermore, logistical issues, such as infrastructure constraints in some producing nations and delays in transit, frequently lead to bottlenecks that might impede the timely delivery of cashew nuts to consumer markets. These weaknesses show how supply chains can be made stable and dependable by diversifying the source locations and enhancing infrastructure and transportation. •Price Volatility: Another significant issue facing the cashew market is price volatility. Numerous factors, such as crop yields, patterns in global demand, changes in currency exchange rates, and events in geopolitics, have an impact on the worldwide cashew market. Both producers and consumers may be impacted by price volatility, which makes it difficult to predict sales and efficiently plan production levels. A large percentage of cashew producers are smallholder farmers, who are especially susceptible to price fluctuations that impact their means of subsistence and financial security. Impacts of price volatility on cashew market stakeholders can be lessened by promoting sustainable agricultural techniques, enhancing market transparency, and managing price risks through efficient hedging strategies. Market Trends •Growing Demand for Plant-Based Foods: As consumer attitudes change in favor of sustainable lifestyles and healthy eating habits, there is an increasing need for plant-based foods like cashews. Because of their versatility, cashews can be found in a wide range of plant-based products, including nut butters, vegan cheeses, and dairy substitutes. Growing knowledge of the health advantages of plant-based diets, such as lowered cholesterol and a decreased risk of chronic illnesses, is what is driving this movement. Cashews are becoming more and more popular since the environmental effects of meat production have encouraged customers to look for plant-based protein alternatives. •Asia-Pacific Countries' Growing Processing and Export Capabilities: In the cashew market, Asia-Pacific nations—especially India and Vietnam—are growing their processing and export capacities. These nations process cashew nuts into kernels and other products with added value, in addition to producing a sizable amount of the world's cashew nuts. Government programs to advance agricultural methods, boost infrastructure, and boost processing efficiency all contribute to the increase. Because of this expansion, Asia-Pacific is better able to service the growing demand for cashews worldwide while keeping prices competitive and quality standards high.

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Based on the report, the Form segment is segmented into Whole, Roasted, Powder, Paste & Splits. Whole segment is leading in the Cashews Market due to its high demand for use in premium snack products and culinary applications where visual appeal and quality are crucial. Because cashews are in great demand for both consumer and industrial purposes, the cashew market as a whole is leading. Whole cashews are prized for their many uses, attractive look, and excellent quality, which make them a popular option for both direct snacking and cooking. Whole cashews are preferred by customers because of their attractive appearance, which improves meal presentation in both home cooking and the restaurant sector. Furthermore, whole cashews are frequently linked to greater quality, drawing in health-conscious customers and those prepared to shell out more for superior goods. Whole cashews are particularly preferred by the food processing sector because of their uniform size and shape, which makes them perfect for usage in gourmet foods, confections, and baked goods. To further increase their market appeal and profit margins, whole cashews are frequently packaged and sold as luxury or premium treats. The demand for whole cashews is further increased by the growing popularity of healthy snacking and the increased knowledge of the nutritional advantages of cashews, such as their high fiber, protein, and healthy fat content. This sub segment’s overall dominance in the cashew market is ensured by the combination of premium positioning, industrial application, and consumer choice. Based on the report, the Application segment is segmented into Direct Consumption /Culinary purpose, Bakery and Confectionery , Cereals and Granola Bars, Nutritional and Health foods, Dairy Products, Other. The Nutritional and Health Foods segment is estimated to grow at a higher growth rate in the Cashews Market due to growing consumer awareness of almonds' health benefits, including their high nutrient content and contribution to heart health and weight management. The Nutritional & Health Foods sub-segment is leading in the Cashew Market due to the rising global health consciousness and the increasing consumer demand for nutrient-rich foods. Cashews are highly valued for their health benefits, including being a rich source of healthy fats, proteins, vitamins, and minerals such as magnesium, zinc, and iron. These nutritional properties make them an ideal ingredient in various health-oriented food products. The growing awareness of cashews' role in supporting heart health, weight management, and overall wellness has spurred their incorporation into a wide array of health foods, including snacks, protein bars, and plant-based milk alternatives. Cashews are also becoming more and more popular because of the trend toward plant-based and vegan diets. They are used to make dairy-free cheeses and creamy sauces, which are a healthy substitute for animal goods. The demand for cashews in this sub segment is further driven by the growing health and wellness industry as well as the clean eating movement, which favors minimally processed goods with natural components. The sub-segment's rise is attributed to innovations in product formulations and the creation of fortified cashew-based products, which position it as a significant leader in the cashew market as a whole. Asia Pacific is dominating the Cashews Market due to its favourable climatic conditions for cultivation, leading to high production volumes, particularly in countries like Vietnam and India. Due to its wide production areas, well-established processing companies, and good agro climatic conditions, Asia Pacific dominates the Cashew Industry. Leading cashew producers and processors include Vietnam and India, who get their advantage from a mix of ideal producing environments and a trained labor force proficient in both manual and automated processing methods. A strong industry has been cultivated in the area due to the region's long history of cashew growing and processing, which has been reinforced by large government programs and investments meant to raise standards of quality and production. Furthermore, Asia Pacific's advantageous position makes it possible to export cashew products effectively to important global consumer markets, guaranteeing a consistent market for them. Domestic consumption is also driven by rising disposable incomes and the growing popularity of healthy eating among the region's expanding middle class. Furthermore, Asia Pacific is a leader in the production and export of cashews due to the region's dynamic and competitive market climate, which fosters innovation and cost effectiveness. Strong international trade ties and the use of cutting-edge agricultural and processing technologies guarantee that Asia Pacific will continue to be the dominant region in the world cashew industry. The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer Daniels Midland Company, Olam International Ltd, The Wonderful Company LLC, Blue Diamond Growers, Hampton Farms, Inc., Kraft Foods Inc., John B. Sanfilippo & Son, Diamonds foods , Durak Findik, Borges Agricultural & Industrial Nuts & Sun-Maid Growers of California. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Cashews Market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Form • Whole • Roasted • Powder • Paste • Others By Application • Direct Consumption /Culinary purpose • Bakery and Confectionery • Cereals and Granola Bars • Nutritional and Health foods • Dairy Products • Other (Cosmetics and personal care, industrial use) By Distribution Channel • HyperMart/SuperMart • Conventional Store • Online Retail The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Cashews industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.