Asia Pacific Cashew Market Report and Forecast 2024-2032

Asia Pacific Cashew Market Size

The Asia Pacific cashew market reached approximately USD 5.33 billion in 2023. The market is projected to grow at a CAGR of 4.3% between 2024 and 2032, reaching a value of around USD 7.79 billion by 2032.

Asia Pacific Cashew Market Outlook

• The cashew nut production in India increased from 0.70 million tonnes (MT) to 0.77 million tonnes (MT) in 2021-2022.

• In 2023, the combined output of cashews from Southeast Asian countries reached 1.5 million tons, accounting for a significant 36.6% of the total global production.

• China, a leading market for nuts in the Asia Pacific region, imported tree nuts such as cashews totalling $3.28 billion in 2022.

Asia Pacific Cashew Market Growth

India is recognised as a prominent global player in cashew production, with the cashew significantly contributing to the economy through the creation of job opportunities for more than a million individuals residing in rural regions. India's cashew exports reached USD 134.38 million between April and August 2022. The cultivation of cashews in India covers an extensive area of 0.7 million hectares, resulting in an annual output surpassing 0.8 million tonnes (MT). As of the 2021-22 period, India's cashew nut production escalated to 0.77 million tonnes (MT).

Cashews are one of the healthy snacks that are in high demand due to consumers' growing awareness of nutrition and health issues. Due to their high nutritional content, cashews are a popular option for health-conscious consumers. Cashews are a staple ingredient in many food products, including dairy, baked goods, and confections, and the food processing sector.

The rising demand for cashews is being fuelled by the growing popularity of cashew-based products like cashew butter, cashew milk, and cashew cheese. These items are meeting the needs of the expanding vegan and lactose-intolerant consumer groups. The increasing preference for plant-based diets is also driving the demand for nuts, including cashews, as a source of plant-based protein and healthy fats. Cashews are increasingly becoming a dietary staple for vegans and vegetarians.

Asia Pacific Cashew Industry Segmentation

“Asia Pacific Cashew Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• White

• Scorched

• Dessert

Market Breakup by Form

• Whole

• Pieces

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Asia Pacific Cashew Market Share

Based on type, the market is segmented into white, scorched, and dessert. White cashew is projected to grow at a CAGR of 4.8% during the forecast period of 2024-2032.  White cashews, a popular type of cashew nuts, are not only good in taste but also filled with a multitude of health advantages. They serve as a superb supply of vital vitamins and minerals, such as vitamins E, K, and B6, along with minerals such as magnesium, phosphorus, zinc, copper, and iron. These essential nutrients are vital in upholding general health and wellness.

Leading Companies in the Asia Pacific Cashew Market

Major players are focusing on the adoption of sustainable and organic farming practices to gain a competitive edge in the market.

• Kalbavi Consumer Foods Private Limited.

• Achal Group

• Bismi cashew company

• MANGALORE CASHEW INDUSTRIES

• SKP Cashews Pvt. Ltd.

• PAN Group

• Donafoods (Dong Nai Agricultural Products Import-Export Processing Joint Stock Company)

• Vietnam Cashew Processing Co.

• CPT CORP

• MYANCO.,Ltd.

• Others

Key Highlights of the Report