Global Cashew Kernel Market Report and Forecast 2024-2032

Global Cashew Kernel Market Outlook

The global cashew kernel market attained a value of about USD 5.93 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.9% to reach nearly USD 9.10 billion by 2032.

Rising Adoption of Healthy Diets is Providing Impetus to the Market Growth of Cashew Kernel

The global market for cashew kernel is being driven by the ongoing trends promoting healthier diets. As a result of increasing disposable incomes and growing awareness, the demand for clean label and healthy snacks are boosting the market growth of cashew kernels. Cashew kernels are a rich source of copper, which is essential for energy production, healthy brain development, and a strong immune system. Thus, the health benefits of cashew are positively influencing the growth of the market.

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In addition to this, the surge in the market can be attributed to the fast-paced lifestyle, owing to which the demand for ready-to-eat, healthy, and packed snacks are significantly aiding the growth of the market. Apart from this, the rising trends of veganism and vegetarianism are pressing the demand for plant-based nutrition, which is more natural, eco-friendly, and healthy, thereby furthering the market growth of cashew  kernel.

Cashew Kernel: Market Segmentation

Cashew kernels can be defined as the processed form of raw cashew. These kernels are graded into white/scorched wholes, pieces, and splits, among others.

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On the basis of grade, the market can be divided into:

• White Wholes
• Scorched Wholes
• Dessert Wholes
• White Pieces
• Scorched Pieces
• Dessert Pieces

The EMR report looks into the regional markets of cashew kernel like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Growing Applications of Cashew Kernels in End-Use Industries to Boost the Market Growth

The growth in the global market for cashew kernel can be ascribed to its several health benefits and multiple applications. Cashew nuts have been increasingly used as a confectionary ingredient in chocolates and desserts due to an array of nutritional benefits. In addition, cashew nuts are popularly used as an active ingredient in many gravy-based dishes, thus further propelling the demand from the food and beverage industry. Additionally, cashew-based dairy products are proactively gaining popularity as an alternative to conventional dairy products among vegans. These are some of the factors pushing the demand for the product from the food and beverage industry, thereby boosting the market growth.

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Furthermore, as a result of the developing cosmetic industry, cashew kernels are increasingly finding their way in many personal care products as a key sustainable product. In line with this, inflating per capita incomes and the surging demand for natural and plant-based ingredients in cosmetic products are some of the factors favouring the applications of cashews in the cosmetic industry, consequently propelling the market growth.

Key Industry Players in the Global Cashew Kernel Market

The report presents a detailed analysis of the following key players in the global cashew kernel market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Alphonsa Cashew Industries
• Nutsco Inc.
• DVK Group
• Olam International Limited
• Prime Nuts FZE
• Vietnam Cashew Processing Co.
• Bismi Cashew Company
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report