Cashew Kernel Market Size, Share, Opportunities, COVID 19 Impact, And Trends, By Form (Whole, Brokens, Butts, Pieces, Splits), Cultivation Type (Organic, Conventional), By Processed Type (Raw, Dried, Flavoured, Others), By Packaging Type (Bags, Boxes, Cartons, Others), By Shell (In-shell, Shelled), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2022 To 2027

Published:  Jun 2022 Report Code: KSI061613889 Pages: 130

The cashew kernel market is expected to grow at a compound annual growth rate of 4.35% over the forecast period to reach a market size of US$6.698 billion in 2027, from US$4.972 billion in 2020. The USA (152,591 tonnes), Germany (47,646 tonnes), the Netherlands (45,889 tonnes), the United Arab Emirates (21,482 tons), and the United Kingdom (20,917 tons) were among the top importing countries in the world based on the import quantity of shelled cashew nuts imported as of 2018. However, these figures are relatively lower than what was registered against each of the importing nations in 2017 mentioned above. For example, the USA registered an import of 153,448 tonnes and Germany registered an import of 53,922 tonnes [Source: USDA]. According to the Ministerie van Landbouw, Natuur en Voedselkwaliteit, which is the Dutch Ministry responsible for agricultural policy, animal welfare, fisheries, food policy, food safety, forestry, and natural conservation, prices of cashew nuts collapsed in 2018, resulting in a decrease in import value. Imports of cashew nuts reportedly reached a zenith during 2017, but with supply outperforming demand to a certain extent and sales from 2017, stock being enough to meet demand in the first half of 2018 collectively led to the drop in import value. Nevertheless, in Europe, Germany is the largest European importer and market for cashew nuts. The Netherlands is also the leading European re-exporter with cashew nuts, among others, being the top re-exported product. In Italy, the production of pesto requires the consumption of pine nuts to be substituted by comparatively cheaper alternatives and cashew nuts are one of them. In view of the above, and based on the increasing consumer inclination to consume healthy food, the European cashew kernel market is expected to be driven by robust growth. Moreover, the use of cashew nuts as snacks, in breakfast cereals, and for the production of various functional foods is expected to further bolster the cashew kernel market.

Several government policies and international initiatives are expected to drive the cashew kernel market around the world during the forecast period. For example, consider the policies outlined by West African nations, such as Côte d'Ivoire's elaborate cashew sector intervention policies. That is, in 2015, the country reportedly introduced an export tax of FCFA 30 per kg of raw cashew nuts (RCN), and since 2016, the industries engaged in local processing have been supported by subsidies derived from the funds from this tax, at the rate of FCFA 400 per kg of exported raw cashew kernel (RCK).  This is an addition to the existing export levies i.e. FCFA 10 per kg of RCN to support critical functions pertaining to the sector. In 2017, Benin too reportedly levied an export tax of FCFA 10 per kg of RCN. Other policies that promote local cashew processing in West African countries include an indicative minimum price for RCN at the start of the buying season, which is said to set the bar for influencing selling and buying behaviour. Policies pertaining to government investment promotion can reportedly include tax-free industrial areas as exemplified by ‘points francs industries in Benin, tax exemptions for the first years of operations, which vary from 5 to 8 years by country, leasing of land in dedicated industrial zones, and including access to utilities as is the case in Côte d’Ivoire.

Moreover, export tax exemptions for RCKs are also favourable to the growth of the market. Benin and Côte d’Ivoire also have import tax exemptions on cashew nut processing machinery. Exporters in Côte d’Ivoire have an obligation to reserve at least 15% of their RCN volumes. A guarantee fund facilitated by the government to help processing units access crop finance, which Côte d'Ivoire backs up bank loans of eligible processing units for up to 25% of the total. In Côte d’Ivoire, a subsidy of FCFA 400 per kg of RCK exported is applicable, which in 2017 was initially equivalent to 10% of RCN value and later increased to 20% at FCFA 400 per kg in 2018, resulting in sharp drops in the RCN market price. Besides, in February 2020, it was announced that the USDA’s Food For Progress (FFPr) Regional Cashew Value Chain Project would be rolling out a $38 million project that is envisaged for six years, in Guinea-Bissau, Senegal, and The Gambia, which will reportedly enhance the regional cashew value chain to strengthen the processed cashew trade in local and international markets.

The project is also called the Linking Infrastructure, Finance, and Farms to Cashews (LIFFT-Cashew), which is expected to facilitate the processing of cashew nuts in greater quantity since only 5-6% of the cashew nuts are processed locally. This project is expected to pave the way for more investments, and foster market-led development apart from the regional integration of the cashew sector, which will partly contribute to cashew kernel market growth in the next few years [ Source: the U.S. Embassy in The Gambia].

Recent developments in Asia too are expected to augment the growth of the global cashew kernel market. For instance, in Vietnam, MARD (Ministry of Agriculture and Rural Development) has issued a list of 13 national products which acknowledge cashew, among others. With preferential support measures which are offered under the decree 57/2018/ND-CP, cashew, among others, will be eligible for the same. The decree is related to incentive policies that are intended to encourage investments from enterprises aimed at agriculture, among others.

The preferential measures include support for investments in facilities and equipment for processing or preserving agricultural products, support for the transfer, and the application of high-technology in agriculture, preferential credit, market development, and promotion activities, and exemptions from or reductions in land or water surface rents, among others. The policy of inurement put in place by the Vietnamese government which appropriates cashew nuts is implicit taxation of producers of such export commodities.

This results in the receipt of prices that are relatively lower than the global prices, which in turn reportedly leads to the total market price support (MPS) becoming equal to the sum of positive and negative support. On the other hand, in August 2020, it was reported that the Honorable VS Sunilkumar, Agriculture Minister of Kerala, India, had reportedly inaugurated a mobile exhibition unit and marketing new processed products of cashew. This initiative is a part of strengthening the extension activities of the Kerala Agricultural University, which includes the marketing of new nutrient-fortified value-added products of sprouted cashew nuts developed by the university. Moreover, Cambodia’s Industrial Development Policy 2015 – 2025 envisions promoting the export of processed agricultural products to reach 12% of all exports by 2025.

Key Development

Chocolat Madagascar will debut a new vegan cashew variety at ISM.

Impact of COVID-19 on the Cashew Kernel Market

COVID-19 had a detrimental impact on the cashew value chain since it disturbed the distribution channel, lowering the final of cashew nuts on the market. Due to the lockout and damaged transportation infrastructure, West African producers have suffered a loss since they are unwilling to deliver cashews to Vietnam or India for processing. The entire kernel supply was significantly reduced due to the collection and transport delays.

Cashew Kernel Market Scope:

Report Metric Details
 Market size value in 2020  US$4.972 billion
 Market size value in 2027  US$6.698 billion
 Growth Rate  CAGR of 4.35% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Form, Cultivation Type, Processed Types, Packaging Type, Shell, Distribution   Channel,  And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered AVC Nuts, NUTSCO (Usibras), Cashew Group, KardiaNuts, A.M.A. Gesellschaft für Food Be- und Verarbeitung mbH Nussveredelungsmanufaktur, Prime Nuts FZE, Afokantan Benin Cashew, Bismi Cashew Company, Vietnam Cashew Co
 Customization scope  Free report customization with purchase

 

Cashew Kernal Market Segmentation

  • By Form
    • Wholes
    • Brokens
    • Butts
    • Pieces
    • Splits
  • By Cultivation Type
    • Organic
    • Conventional
  • By Processed Types
    • Raw
    • Dried
    • Flavoured
    • Others
  • By Packaging Type
    • Bags
    • Boxes
    • Cartons
    • Others
  • By Shell
    • In-shell
    • Shelled
  • By Distribution Channel
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Others
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • UK
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
      • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the cashew kernel market?
A1. The global cashew kernel market is expected to grow at a CAGR of 4.35% over the forecast period. 


Q2. What will be the cashew kernel market size by 2027?
A2. The cashew kernel market is expected to reach a market size of US$6.698 billion by 2027. 


Q3. What is the size of the global cashew kernel market?
A3. Cashew Kernel Market was valued at US$4.972 billion in 2020.  


Q4. What factors are anticipated to drive the cashew kernel market growth?
A4. Several government policies and international initiatives are expected to drive the cashew kernel market around the world during the forecast period. 


Q5. How is the global cashew kernel market segmented?
A5. The global cashew kernel market has been segmented by form, cultivation type, processed types, packaging type, shell, distribution channel, and geography.

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. . Research Methodology
2.1.  Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics.
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1.  Bargaining Power of Suppliers
4.3.2.  Bargaining Power of Buyers
4.3.3.  Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5.  Competitive Rivalry in the Industry
4.4.  Industry Value Chain Analysis
 
5. Cashew Kernel Market Analysis, By Form
5.1. Introduction
5.2. Whole
5.3. Brokens
5.4.  Butts
5.4.1. Pieces
5.4.2. Splits

6. Cashew Kernel Market Analysis, By Cultivation Type
6.1.  Introduction
6.2. Organic
6.3. Conventional
7. Cashew Kernel Market Analysis, By Processed Types
7.1.  Introduction
7.2.  Raw
7.3. Dried
7.4. Flavoured
7.5. Others

8.  Cashew Kernel Market Analysis, By Packaging Type
8.1. Introduction
8.2. Bags
8.3. Boxes
8.4. Cartons
8.5. Others

9.  Cashew Kernel Market Analysis, By Shell
9.1.  Introduction
9.2.  In-shell
9.3. Shelled

10. Cashew Kernel Market Analysis, By Distribution Channel
10.1. Online 
10.2. Offline

11.  Cashew Kernel Market Analysis, By Geography
11.1. Introduction
11.2. North America
11.2.1. North America Cashew Kernel Market, By Form, 2020 to 2027 
11.2.2.  North America Cashew Kernel Market, By Cultivation Type, 2020 to 2027
11.2.3. North America Cashew Kernel Market, By Processed Types, 2020 to 2027 
11.2.4. North America Cashew Kernel Market, By Packaging Type, 2020 to 2027 
11.2.5.  North America Cashew Kernel Market, By Shell, 2020 to 2027 
11.2.6. North America Cashew Kernel Market, By Distribution Channel, 2020 to 2027
11.2.7.  By Country
11.2.7.1. USA
11.2.7.2. . Canada
11.2.7.3.  Mexico
11.3. South America
11.3.1.  South America Cashew Kernel Market, By Form, 2020 to 2027 
11.3.2. South America Cashew Kernel Market, By Cultivation Type, 2020 to 2027
11.3.3.  South America Cashew Kernel Market, By Processed Types, 2020 to 2027 
11.3.4.  South America Cashew Kernel Market, By Packaging Type, 2020 to 2027 
11.3.5. South America Cashew Kernel Market, By Shell, 2020 to 2027 
11.3.6. South America Cashew Kernel Market, By Distribution Channel, 2020 to 2027
11.3.7.  By Country
11.3.7.1    . Brazil
11.3.7.2    Argentina
11.3.7.3    Others
11.4.  Europe 
11.4.1.  Europe Cashew Kernel Market, By Form, 2020 to 2027 
11.4.2.  Europe Cashew Kernel Market, By Cultivation Type, 2020 to 2027 
11.4.3.  Europe Cashew Kernel Market, By Processed Types, 2020 to 2027 
11.4.4.  Europe Cashew Kernel Market, By Packaging Type, 2020 to 2027 
11.4.5.  Europe Cashew Kernel Market, By Shell, 2020 to 2027 
11.4.6. . Europe Cashew Kernel Market, By Distribution Channel, 2020 to 2027
11.4.7.   By Country
11.4.7.1.  Germany
11.4.7.2.  UK
11.4.7.3.  France
11.4.7.4. Others
11.5.  Middle East and Africa
11.5.1. Middle East and Africa Cashew Kernel Market, By Form, 2020 to 2027 
11.5.2.  Middle East and Africa Cashew Kernel Market, By Cultivation Type, 2020 to 2027 
11.5.3. Middle East and Africa Cashew Kernel Market, By Processed Types, 2020 to 2027 
11.5.4.  Middle East and Africa Cashew Kernel Market, By Packaging Type, 2020 to 2027 
11.5.5. Middle East and Africa Cashew Kernel Market, By Shell, 2020 to 2027 
11.5.6. Middle East and Africa Cashew Kernel Market, By Distribution Channel, 2020 to 2027
11.5.7. By Country
11.5.7.1. Saudi Arabia
11.5.7.2.  Others
11.6.  Asia Pacific
11.6.1. Asia Pacific Cashew Kernel Market, By Form, 2020 to 2027 
11.6.2.  Asia Pacific Cashew Kernel Market, By Cultivation Type, 2020 to 2027 
11.6.3. Asia Pacific Cashew Kernel Market, By Processed Types, 2020 to 2027 
11.6.4.  Asia Pacific Cashew Kernel Market, By Packaging Type, 2020 to 2027 
11.6.5. Asia Pacific Cashew Kernel Market, By Shell, 2020 to 2027 
11.6.6.  Asia Pacific Cashew Kernel Market, By Distribution Channel, 2020 to 2027
11.6.7. By Country
11.6.7.1. China
11.6.7.2. Japan
11.6.7.3.  India
11.6.7.4.  Australia
11.6.7.5.  Others

12. Competitive Environment and Analysis
12.1.  Major Players and Strategy Analysis
12.2. Emerging Players and Market Lucrativeness
12.3. Mergers, Acquisitions, Agreements, and Collaborations
12.4. Vendor Competitiveness Matrix

13. Company Profiles
13.1. AVC Nuts
13.2. NUTSCO (Usibras)
13.3. Cashew Group
13.4. KardiaNuts
13.5. A.M.A. Gesellschaft für Food Be- und Verarbeitung mbH Nussveredelungsmanufaktur
13.6. Prime Nuts FZE
13.7. Afokantan Benin Cashew 
13.8. Bismi Cashew Company
13.9. Vietnam Cashew Co

AVC Nuts

NUTSCO (Usibras)

Cashew Group

KardiaNuts

A.M.A. Gesellschaft für Food Be- und Verarbeitung mbH Nussveredelungsmanufaktur

Prime Nuts FZE

Afokantan Benin Cashew

Bismi Cashew Company

Vietnam Cashew Co

Pricing

Explore Custom Options available with this study:

  •  Request customization
  •  Buy sections of the study
  •  Buy country specific report
  •  Request excel, Historical data
  •  Subscription inquiry
  •  Request special pricing

Our Value Proposition

Analyst Support

All our studies come with 2 months of analyst support.


Confidentiality

We are in compliance with the global privacy laws.

Connect With Us