According to the latest report by IMARC Group, title “Cashew Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global cashew market size reached US$ 6.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.89 Billion by 2027, exhibiting a CAGR of 4.42% during 2022-2027.
Cashew refers to a type of kidney-shaped nut that grows on fruit-producing trees near the sea areas. It is available in various forms, including whole nuts, split, roasted, powdered, paste, etc. Cashew nuts are a good source of minerals, protein, fiber, healthy fats, magnesium, antioxidants, etc. They are extensively used in the production of cereals, bars, bakery products, beverages, dairy products, hair oils, skin-nourishing cream, etc. Cashew nuts aid in lowering blood pressure, boosting immunity, improving bone density, controlling weight, enhancing brain functions, etc. They also help manage blood cholesterol levels and prevent the risk of cardiovascular diseases, gallstones, and cancer. Consequently, cashew nuts are in high demand across various segments of the food and beverage (F&B) and cosmetic industries and among general customers.
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Cashew Market Trends:
The shifting consumer preferences toward a vegan lifestyle and the increasing consumption of healthy snacks, including organic bars, muesli and spreads, are primarily driving the global cashew market. Besides this, the expanding F&B industry and the rising product usage in the preparation of cookies, noodles, cheesecakes, etc., are further augmenting the market growth. In addition to this, the launch of numerous flavored product variants, such as sweet, spicy, chili lime, etc., is acting as another significant growth-inducing factor. Apart from this, the escalating product demand among the cosmetic manufacturers to produce oils and creams for skin and hair nourishment is expected to stimulate the cashew market over the forecasted period.
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Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Form:
- Whole
- Roasted
- Powder
- Paste
- Splits
Breakup by Distribution Channel:
- Supermarkets
- Retailers
- Online Stores
- Others
Breakup by Application:
- Dairy Products
- Bakery Products
- Snacks and Bars
- Confectionaries
- Cereals
- Desserts
- Beverages
- Cosmetic Products
- Others
Breakup by Geography:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Agrocel Industries Pvt. Ltd., Aryan International, Aurora Products Inc., Bata Food (BARDAKCIGROUP), CBL Natural Foods (Pvt) Ltd., Delicious Cashew Co., Delphi Organic GmbH, Divine Foods LLC, Haldiram’s, Kalbavi Cashews, Lafooco (PAN Group), Nutty Yogi, Royal Dry Fruits and Wonderland Foods.
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