Global Cashew Market to Reach US$ 10.5 Billion by 2032, Propelled by the Increasing Health Consciousness Among Individuals

March 15, 2023 | Food & Beverages

The latest report by IMARC, titled “Cashew Market Report by Form (Whole, Roasted, Powder, Paste, Splits), Distribution Channel (Supermarkets, Retailers, Online Stores, and Others), Application (Dairy Products, Bakery Products, Snacks and Bars, Confectionaries, Cereals, Desserts, Beverages, Cosmetic Products, and Others), and Region 2024-2032”, finds that the global cashew market size reached US$ 7.5 Billion in 2023. Cashew refers to a kidney-shaped nut rich in vitamin K, protein, healthy fat, antioxidants, magnesium, zinc, copper and oil. It is roasted and the shell is removed before consumption. It grows near the sea areas and is harvested at the end of summer. Cashew offers numerous health benefits, such as it reduces the risk of cardiovascular diseases and blood cholesterol level, prevents gallstones and cancer, and helps in healthy brain function. In recent years, cashew has gained traction, as it is widely used as snacks, ingredients in restaurants, and desserts like ice creams in the food and beverage (F&B) industry.

Global Cashew Market Trends:

One of the primary factors driving the market is the increasing health consciousness among individuals and the augmenting demand for healthy snacking options. Additionally, the transition in eating habits, and change in lifestyle of the masses globally is creating a positive market outlook. Other than this, the increasing number of individuals diagnosed with lactose intolerance is leading to a rise in the demand for cashew nut milk, thus positively influencing the market growth. Besides this, cashews are extensively employed in the personal and beauty care industry as an active ingredient in hair oils, as they contain unsaturated fats, magnesium, zinc, and vitamin E. In line with this, the growing popularity of veganism and rising number of individuals adopting a plant-based vegan diet is increasing the demand for nuts and nut-infused foods. Along with this, the introduction of flavored cashews, including chili lime, sweet, and spicy cashew nuts, is creating lucrative growth opportunities for the key players operating in the industry. Looking forward, IMARC Group expects the market value to reach US$ 10.5 Billion by 2032, expanding at a CAGR of 3.85% during the forecast period (2024-2032).

Market Summary:

  • On the basis of the form, the market has been divided into whole, roasted, powder, paste and splits.
  • Based on the distribution channel, the market has been segmented into supermarkets, retailers, online stores, and others.
  • On the basis of the application, the market has been categorized into dairy products, bakery products, snacks and bars, confectionaries, cereals, desserts, beverages, cosmetic products, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Agrocel Industries Pvt. Ltd., Aryan International, Aurora Products Inc., Bata Food Group, 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Form, Distribution Channel, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Cashew Market to Reach US$ 10.5 Billion by 2032, Propelled by the Increasing Health Consciousness Among Individuals
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