Cashew Nuts Market Overview
The cashew nut which is simply called as cashew, is a highly consumed dry fruit. It is eaten on its own, processed into cashew butter or cashew cheese or it is used in recipes. The shell of the cashew seeds yield derivatives which can be used in many applications such as paints, waterproofing, lubricants, and arms production. Cashew apple is a yellow to light reddish fruit, whose pulp can be processed into a astringent, sweet fruit drink or distilled into a liquor.
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The driving factors of global Cashew Nuts market are increasing demand for convenience foods, and ready-to-eat snacks. Availability of various flavours including butter, pepper, smoky, salted, has driven the sales of organic cashew nuts. Consumers are adopting to vegan lifestyle and opting for healthy substitutes for meat and dairy. Other factors attributable to the high growth includes rising number of working women, a rise in per-capita health expenditure, rapid urbanization and growth in middle-class population. The presence of several natural ingredients in cashew nuts with rising awareness regarding health benefits is expected to contribute significantly to the growth of this market in the forecast period.
Cashew Nuts Market Forecast Report (2018-2023)
Global Cashew Nuts Market is expected to grow at a robust CAGR during the forecast period (2018-2023)"
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Cashew Nuts Market Segmentation
Global Cashew Nuts Market is classified based on form into whole, powder, paste, splits and roasted. Whole segment has the highest share in the segment. By usage, the market is classified into dairy products, confectionaries, bakery products, snacks and bars, cereals, desserts and beverages. By distribution channels, the market is segmented into hypermarkets and supermarkets, specialist stores, convenience stores and retailers.
The Global Cashew Nuts market is classified based on geography into North America, Latin America, Asia-Pacific, Middle East and Africa and Europe. North America has the huge market for Cashew Nuts in the world, which is followed by Europe and Asia Pacific regions. Asia Pacific region is expected to have the rapid growth rate during the forecast period, owing to huge population base and rising disposable incomes.
Key developments
- In 2016, the Competitive Cashew Initiative inward an innovation award from the OECD Development Assistance Committee for its concept and measurable successes. The jury praised the initiative's problem-solving and innovative approach, which has contributed to a considerable increase in the incomes of producers. In all, ComCashew and its partners in the fields of production, processing and trade, have generated additional income totalling more than EUR 480 million.
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Major Players:
Major players in the current market are:
- Ajanta Industries
- Achal Cashew nuts
- Agrocel Industries
- ALIEN GREEN
- BATA FOOD
- Cascade Agroindustrial S.A
- CBL Natural Foods (PVT) LTD
- DIVINE FOODS
- Delphi Organic
- Aryan International
- Tierra Farm
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