Africa Cashew Market Report and Forecast 2024-2032

Africa Cashew Market Outlook

The Africa cashew market size reached approximately USD 823.28 million in 2023. The market is further projected to grow at a CAGR of 4.2% between 2024 and 2032, reaching a value of USD 1189.65 million by 2032.

Key Trends in the Market

Cashews refer to nuts that are a rich source of minerals and proteins, oil, healthy fats, fibres, antioxidants, zinc, phosphorus, copper, and magnesium. They are commonly used in baked goods, dairy products, and beverages, among others, and can also be consumed as such.

• The increased consumption of cashews due to increased adoption of plant-based diets is a key trend fuelling the Africa cashew market growth. The changing eating patterns can be attributed to the growing awareness about the various health benefits associated with plant-based products including reduced inflammation, maintenance of healthy weight, and high fibre content, among others.

• Introduction of various government policies to support the production, processing, and export of cashews is another major factor aiding the market expansion in Africa. Some of the policies also aim to ensure that farmers have access to quality seedings and technologies and infrastructure for cultivating high quality cashews.

• Increased consumption of cashew butter due to its thick and creamy texture is another major factor aiding the market expansion. Due to its creamy nature, cashew butter is used as a key ingredient in various sauces, soups, and dips and as spreads on crackers or as dressings on salads.

Africa Cashew Market Analysis

Based on type, the market is divided into white, scorched, and dessert. On the basis of form, the market is bifurcated into wholes and pieces. Based on country, the market is segmented into South Africa, Egypt, Nigeria, and Tanzania, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Africa cashew market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Olam International Limited. 

• ECOM Agroindustrial Corp. Limited  

• Tan Mondial Pte Ltd. 

• ETC Group 

• Driffield Trading Company Limited 

• Africa Negoce Industries 

• Gombella Integrated Services Limited 

• Still Morris Consults Ltd. 

• Welli Farms Limited 

• Malvaceae Limited 

• Vainqueur Agro SARL 

• Enkay Indo Nigerian Ind. Ltd

• Others

Market Share by Type

White cashews are expected to account for a significant Africa cashew market share over the forecast period. These cashews have a higher nutritional content as opposed to their scorched counterparts and are often snacked upon after they are roasted and salted. These cashews are also used in biscuit and chocolate factories. Increasing demand from countries including China and the United States, among others, due to rising incorporation of cashews in sweet and savoury food products is further aiding the segment growth.

Market Share by Country

Tanzania is anticipated to account for a significant share of the market in the coming years. The diverse agro-climatic conditions of the country are most suitable for cashew cultivation. Due to the social effects and economic benefits offered by cashew cultivation, the activity has become immensely popular in the country. The increased consumption of cashews and cashew-based products due to growing awareness about the high polyphenol and carotenoid content, the antioxidants that aid in fighting oxidative cell damage is boosting the Africa cashew market demand.

Competitive Landscape

Olam International Limited. is a leading agri-business that supplies ingredients, food, and feed to consumers around the globe. The company sources, stores, distributes, and transports coffee, cocoa, and cashews, among others.

ECOM Agroindustrial Corp. Limited, headquartered in Switzerland, is a processing and commodity trading company that specialises in the production of cocoa, cotton, and coffee, among others. They are also the supplier and supply chain manager of semi-processed and raw agricultural commodities.

Tan Mondial Pte Ltd., headquartered in Singapore, is a soft agriculture commodity company that is operating across the continents of Asia and Africa and is known for providing cashews, shea nuts, timber, sesame, and coffee, among others.

Other market players include ETC Group, Driffield Trading Company Limited, Africa Negoce Industries, Gombella Integrated Services Limited, Still Morris Consults Ltd., Welli Farms Limited, Malvaceae Limited, Vainqueur Agro SARL, and Enkay Indo Nigerian Ind. Ltd, among others.

Key Highlights of the Report