Authored By: Sarah
11 Feb 2025

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

Global Cashew Market 2023-2027

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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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Key Market Players

  1. Royal Dry Fruits Pvt. Ltd.
  2. Kalbavi Cashews
  3. Haldiram Foods International Pvt. Ltd.
  4. Achal Group of Industries
  5. Agrocel Industries Pvt. Ltd.
  6. ALPHONSA CASHEW INDUSTRIES
  7. Aryan International
  8. Bata Food
  9. Bismi Cashew Co.
  10. CBL NATURAL FOODS Pvt. Ltd.
  11. DCC Delicious
  12. Delphi Organic GmbH
  13. DVK Group
  14. NIRVAANIC LIFE FOODS Pvt. Ltd.
  15. NUTSCO Inc.
  16. Olam Group Ltd.
  17. Prime Nuts Online Store
  18. Shivam Cashew Industry
  19. Sunorganic Industries Pvt. Ltd.
  20. Vietnam Cashew Processing Joint Co.

 

 

 

 

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