The latest report by IMARC, titled “Cashew Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global cashew market size reached US$ 7.2 Billion by 2022. 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$ 9.3 Billion by 2028, expanding at a CAGR of 4.14% during the forecast period (2023-2028).
- 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.
|Base Year of the Analysis
||Form, Distribution Channel, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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