The global processed cashew market size was valued at USD 5,003.6 Million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2032. According to the study, sales of processed cashew is expected to hold around 63% market share in the cashew market.
| Attribute | Details |
|---|---|
| Processed Cashew Market Size (2022E) | USD 5,003.6 Million |
| Processed Cashew Market Projected Size (2032F) | USD 8,793.0 Million |
| Processed Cashew Market Value CAGR (2022 to 2032) | 5.8 % |
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Growing demand for superfoods with nutritional characteristics is anticipated to drive the processed cashew market, opines Future Market Insights (FMI). Due to the growing consumption of plant-based food products, consumers are prioritizing sustainable diets.
Diets that are both sustainable and healthy are becoming increasingly popular among consumers. Customers are choosing progressively sustainable food products as their understanding of the necessity of healthy lives grows, their disposable income grows, and their choice for a natural diet grows.
Clean-label products are gaining immense popularity among consumers. Hence, manufacturers in the food and beverage sector are introducing products by labeling them as low sugar, organic, natural, plant-based, or vegan in order to appeal to target consumers.
Hence, the growing use of edible nuts in functional food and functional beverages in order to boost immunity and have a healthy body is propelling the growth in processed cashew market.
With increasing competition for manufacturing functional ingredients in the food and beverage industry, companies are engaged in constant innovation to design novel products in order to remain market leaders.
Dietary fiber in processed cashew nuts aids digestion and reduces the risk of digestive illnesses. The cholesterol-lowering action of processed cashew nuts is that it lowers LDL while simultaneously boosting the capability of transporting HDL.
Cashew nuts also enhance the metabolic process and burn excess fat in the body since they are high in Omega 3. Preference for health consciousness is projected to spur the market over the forecasted period.
However, due to the high level of competition, a wide range of nut substitutes are available which could be one factor that is limiting the growth of the market. However, unique formulations with flavors, packaging are expected to increase the demand for processed cashew over the forecast period.
Growing Demand for Healthy Snacks in the USA to Benefit Processed Cashew Market
The USA-processed cashew market is expected to reach a valuation of USD 840.6 Million in 2022 and is expected to rise at a CAGR of 4.1% between 2022 and 2032. Growing consumption of healthy snacks is driving up demand for almond and cashew products.
Rising health consciousness and the need for easy solutions to achieve nutritional needs will boost the processed cashew market in the USA
Surging Consumption of Plant-Based Food Products will Propel Demand for Processed Cashews
According to FMI, the sales of processed cashew in Germany are anticipated to rise at a notable CAGR over the forecast period and hold a market share of more than 21.5% in 2022. The adoption of plant-based diets at an exponential rate is increasing the demand for processed cashew as snacks.
India Processed Cashew Market to Benefit from Favorable Initiatives for Plant-Based Products
India is considered to be the top producer and consumer of cashew across the globe, opines Future Market Insights (FMI). Consumers are becoming more aware of the advantages of food thanks to government initiatives.
The government is also offering farmers a variety of programs to encourage the acceptance of such a plant-based diet. Cashew milk, like other plant-based products, will witness immense growth on the back of government initiatives. For instance, the Indian Ministry of Health and Family Welfare has launched a campaign to promote plant-based diets called EatRightIndia.
Sales of Coated/Flavored Cashews to Increase at an Impressive Rate
Based on product type, coated or flavored cashew is expected to be the leading product type in the global processed cashew market. Consumers' preference to eat salted cashew or various flavors is fueling the growth in the segment.
Cashews are a good source of fiber, protein, and good fats. They also include a range of vitamins, minerals, and beneficial plant components that are good for health. As per FMI, cashew butter and cashew flour will also show significant growth over the assessment period.
Increased Use of Processed Cashews in Bakery & Confectionary Food Items to Boost the Market
Processed cashew are widely used in the food and beverages industry in various products such as protein bars and powder, cereals and muesli, dairy products, beverages, bakeries & confectionery. Amongst all, bakery & confectionery holds a dominant market share in this segment as processed cashews are widely used in cookies and biscuits.
Processed Cashews in Organic Form to Remain Highly Sought-After
The conventional segment of processed cashew is likely to dominate the market, as per FMI. However, owing to consumer inclination toward organic food products, organic processed cashew shows a higher growth rate in the future.
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Key players are aiming to expand their market presence in various countries to capitalize on the growing demand for the processed cashew market. Companies in the processed cashew market are expanding their product portfolio in various flavors to gain a competitive edge.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Chile, Peru, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC Countries, Turkey, South Africa, North Africa, and Central Africa |
| Key Segments Covered | Product Type, Nature, End Use Application, and Region |
| Key Companies Profiled | Shivam Cashew Industry; Grau Nuts; Mineral & General Co. Ltd.; Beyond; Favourite Cashews; Petrow Food Group; BoYo; Proventus Agrocom Group; Sweet & Delicious nut co. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The processed cashew market will reach a valuation of around USD 5,003.6 Million in 2022.
North America processed cashew market is anticipated to record growth at 4.7 % CAGR between 2022 and 2032.
The demand for processed cashew is likely to surge at 5.8% CAGR between 2022 and 2032.
India, the USA, Germany, UK, Australia, Japan are few countries that are shaping the processed cashew market.
| Estimated Size (2025E) | USD 113.1 Billion |
|---|---|
| Projected Value (2035F) | USD 199.0 Billion |
| Value-based CAGR (2025 to 2035) | 7.1% |
| Market Value for 2024 | USD 134.8 billion |
|---|---|
| Market Value for 2034 | USD 202.3 billion |
| Market Forecast CAGR for 2024 to 2034 | 4.1% |
| Estimated Market Value (2023) | USD 87.9 billion |
|---|---|
| Projected Market Value (2033) | USD 191.3 billion |
| Value-based CAGR (2023 to 2033) | 7.9% |
| Market Value (2023) | USD 133.4 Billion |
|---|---|
| Market Expected Value (2033) | USD 314.5 Billion |
| Market Projected CAGR (2023 to 2033) | 9% |
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Processed Cashew Market
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