United States Cashew Market Report and Forecast 2025-2034

United States Cashew Market Size

The United States cashew market reached around USD 1.01 billion in 2023. The market is estimated to grow at a CAGR of 5.2% during the forecast period of 2024-2032 to attain nearly USD 1.59 billion by 2032.

United States Cashew Market Outlook

The consumption of cashews in the United States has been rising steadily. There is an increasing demand for cashews imported from Vietnam in the country. In Q1 2024, Vietnam exported 39,000 tons of cashews to the USA, which measured over USD 208 million in value. The availability of different varieties of good quality cashews appeals significantly to US consumers.

Over the forecast period, the increasing demand for flavoured and salted cashews is expected to contribute to the United States cashew market expansion. The market is also expected to benefit from the rising demand for healthy and organic food products. As major companies adopt advanced scientific machinery for effective cashew processing, product consistency and packaging are expected to improve, thereby enhancing consumer appeal for cashews. The adoption of innovative product marketing strategies is expected to drive the United States cashew market development in the coming years.

The Rising Demand for Whole Cashews as a Healthy Snack Option is One of the Crucial United States Cashew Market Trends

• Whole cashews are projected to lead the market with a CAGR of 5.9% between 2024 and 2032. The popularity of whole cashews as a healthy snack option and their versatility in various culinary applications are boosting the United States cashew market revenue.

• Cashew pieces are expected to grow at a CAGR of 5.6%, supported by their use in processed foods and as a convenient ingredient for cooking and baking. 

• Cashew butter is anticipated to witness a CAGR of 5.4%, reflecting the increasing demand for plant-based and nut-based spreads. 

• Roasted cashews are projected to grow at a CAGR of 4.9%, as they remain a favoured snack choice among health-conscious consumers. 

• As per the United States cashew market analysis, other products within the cashew category are expected to see a CAGR of 4.7%, driven by niche markets and innovative product offerings. The overall growth in the market is likely to be fuelled by rising consumer awareness of the health benefits of cashews and their increasing use in various food products.

The Growing Use of Cashews in the Food and Beverage Sector is Driving the United States Cashew Market Growth

• The food and beverage industry is projected to lead with a CAGR of 5.8% between 2024 and 2032. The widespread use of cashews in a variety of products, including dairy alternatives, sauces, and energy bars, is creating lucrative United States cashew market opportunities.

• Snacks and confectionery are anticipated to grow at a CAGR of 5.6%, fuelled by the increasing demand for healthy and convenient snack options. 

• The bakery products segment is forecasted to expand at a CAGR of 5.3% and account for a major portion of the United States cashew market share, reflecting the incorporation of cashews in premium baked goods and pastries. 

• Health and wellness products are projected to grow at a CAGR of 5.0%, supported by the rising consumer focus on nutritious and plant-based diets. 

• As per the United States cashew industry statistics, other applications are expected to witness a CAGR of 4.7%, driven by niche uses and innovative product formulations. The overall market growth is likely to be supported by the increasing awareness of the health benefits of cashews and their versatility in various food applications.

United States Cashew Market Regional Analysis

• The Far West region is projected to lead the market with a CAGR of 6.0% during the forecast period of 2024-2032. The increasing demand for healthy snacks and plant-based protein sources is creating lucrative United States cashew market opportunities. 

• The Rocky Mountain and Southwest regions are also anticipated to see significant growth, with CAGRs of 5.6% and 5.4%, respectively, between 2024 and 2032. The rising popularity of cashews as a versatile ingredient in both savoury and sweet dishes is shaping the United States cashew market dynamics and trends. 

• The Southeast is expected to follow with a 5.1% CAGR, supported by strong consumer interest in nut-based products. 

• New England and the Mideast regions are projected to grow at CAGRs of 4.8% and 4.5%, respectively, while the Plains and Great Lakes regions are expected to see more modest growth, with CAGRs of 4.2% and 3.9%, respectively. The United States cashew market value is likely to increase due to the growing health-conscious consumer base and the increasing availability of various cashew-based products in retail outlets across the country.

Key Questions Answered in This Report:

• How has the United States cashew market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States cashew market?

• What are the key segments within the United States cashew market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States cashew market?

• Who are the key players in the United States cashew market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States cashew market globally or regionally?

• How competitive is the United States cashew market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers?

• What are the current trends shaping the United States cashew market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States cashew market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the United States cashew market?

• How sustainable are current growth rates in the United States cashew market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States cashew market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States cashew market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States cashew market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States cashew market?

• What are the regulatory and legal frameworks impacting the United States cashew market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States cashew market?

• What are the emerging market trends and niche opportunities within the United States cashew market that stakeholders should be aware of?

• How resilient is the United States cashew market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States cashew market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the United States cashew market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States cashew industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States cashew market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States cashew market landscape.

Key Highlights of the Report