Cashew Market Growth (2023-2027):Trends and Key Insights

The Global cashew market is projected to expand by 1,123.96 thousand tons, with a compound annual growth rate (CAGR) of 5.3% from 2022 to 2027. This growth is fueled by rising lactose intolerance and increasing consumer preference for dairy-free alternatives such as cashew milk. European countries are witnessing strong demand for cashew-based products, while North America continues to dominate production

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Cashew Market Segmentation

By Type:

Conventional or Regular: Largest segment due to lower cost and high consumer preference.
Organic: Gaining traction among health-conscious consumers.

By Distribution Channel:

Offline: Supermarkets, hypermarkets, and convenience stores dominate sales.
Online: Growing with increased digital penetration and direct-to-consumer sales.

Regional Market

North America

The U.S.
Canada
- The region contributes 45% of global market growth.
- Increasing production and consumption of cashews drive demand.
- Cashews are widely used in snacks, confectionery, and dairy-free milk alternatives.

Europe

The U.K.
Germany
France
Rest of Europe
- Rising demand for lactose-free products fuels growth.
- European consumers increasingly prefer cashew milk over traditional dairy.

APAC

China
India
- A major market for cashew cultivation and processing.
- Growing domestic demand supports market expansion.

Middle East & Africa

Saudi Arabia
South Africa
Rest of the Middle East & Africa
- Increasing awareness of cashew’s health benefits boosts demand.

South America

Chile
Brazil
Argentina
- Expanding cashew production and export activities.

Market Dynamics

Market Drivers:

Rising Demand for Dairy Alternatives: Growing lactose intolerance and allergies to soy, almond, and hazelnut milk boost cashew milk sales.
Health Benefits of Cashews: Rich in essential nutrients, cashews aid in lowering LDL cholesterol, supporting bone health, and boosting immunity.

Market Trends:

Clean Labeling & Fair-Trade Practices: Producers increasingly adhere to ethical sourcing and transparency in production.

Key Market Challenges:

Allergen Concerns: Cashews are a known allergen, affecting market growth.
Price Fluctuations: Variability in raw cashew costs impacts industry profitability.

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