The cashew nuts global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cashew Nuts Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cashew nuts market size has grown strongly in recent years. It will grow from $8.05 billion in 2023 to $8.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increasing demand for healthy snacks, nutritional benefits of cashews, shifts in dietary preferences towards plant-based and vegetarian diets, expansion of retail channels, introduction of new cashew nut products.
The cashew nuts market size is expected to see strong growth in the next few years. It will grow to $10.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to improvements in supply chain management practices, including logistics, storage, and transportation, investments in cashew nut farming infrastructure, growing awareness about the health benefits of consuming nuts, growing popularity of plant-based diets, increasing use of cashew nuts as ingredients in various food products. Major trends in the forecast period include continued investment in agricultural technology and practices, adoption of biodegradable and compostable packaging materials derived from renewable sources, implementation of vertical farming techniques, integration of remote sensing and satellite imaging technologies to monitor cashew nut plantations, deployment of AI-driven farm management systems.
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Scope Of Cashew Nuts Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cashew Nuts Market Overview
Market Drivers –
The thriving retail and e-commerce sectors are expected to propel the growth of the cashew nut market going forward. Retail involves businesses selling goods and services directly to consumers, typically through physical stores. E-commerce refers to the buying and selling goods and services over the internet. The growth of the retail and e-commerce sectors is attributed to several factors, such as advancements in internet infrastructure, accessibility offered by online shopping, changing consumer preferences, and increasing adoption of digital platforms. Retail stores and e-commerce platforms make cashew nuts readily available to consumers, allowing them to purchase them easily from local stores or online retailers. This accessibility expands the market reach of cashew nuts, making them available to a broader consumer base. For instance, in February 2024, according to the Census Bureau of the Department of Commerce, e-commerce sales witnessed a notable surge of 7.5% in the fourth quarter of 2023 compared to the corresponding period in 2022. Therefore, thriving retail and e-commerce sectors are driving the growth of the cashew nut market.
Market Trends –
Major companies operating in the cashew nuts market are focused on developing innovative cashew processing plants, such as automatic cashew processing plants, to gain a competitive edge in the market. An automatic cashew processing plant uses machines to reduce the amount of manual labor required to process raw cashew nuts into finished cashew kernels. For instance, in October 2021, Mekong Tech Group, a Vietnam-based manufacturer of whole-kind cashew machines, launched VN-2022, a new modern automatic cashew processing plant. It is operated automatically from the cleaning process through shelling and separating to tray filling in preparation for filling the tray. The labor required to shell cashews is reduced by 60–70%. It has a modern automatic control system that connects machine systems through SCADA (supervisory control and data acquisition) control systems or ERP (enterprise resource planning) management software. The main elements of the cashew processing factory, such as the cashew steaming and chilling system and the cashew shelling and separating system, are created using the most recent technology available in Vietnam.
The cashew nuts market covered in this report is segmented –
1) By Form: Whole, Roasted, Splits, Paste
2) By Usage: Dairy Products, Cereals, Confectionaries, Beverages, Snacks And Bars, Bakery Items
3) By Distribution Channel: Convenience Stores, Hypermarkets And Supermarkets, Retailers, Specialist Stores
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Regional Insights –
North America was the largest region in the cashew nuts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cashew nuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cashew nuts market report are Nestlé S.A.; Archer Daniels Midland Company; Bunge Limited; The Kraft Heinz Company; John B. Sanfilippo & Son Inc.; Vietnam Cashew Corporation (VINACAS); Lien Anh Co. Ltd; Haldiram Foods International Private Limited; Alphonsa Cashew Industries; Diamond Foods LLC; Emerald Nuts LLC; Aurora Products Inc.; Aryan Food Ingredients Limited; CBL Natural Foods Private Limited; Nutsco Inc.; Delicious Cashew Company; Nutty Yogi; Wonderland Foods; Bismi Cashew Company; Divine Foods; Achal Cashew Nuts; Delphi Organic; Bata Food; Kalbavi Cashews; Royal Dry Fruits
Table of Contents
1. Executive Summary
2. Cashew Nuts Market Characteristics
3. Cashew Nuts Market Trends And Strategies
4. Cashew Nuts Market – Macro Economic Scenario
5. Global Cashew Nuts Market Size and Growth
…
32. Global Cashew Nuts Market Competitive Benchmarking
33. Global Cashew Nuts Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cashew Nuts Market
35. Cashew Nuts Market Future Outlook and Potential Analysis
36. Appendix
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