The global cashew market is experiencing rapid growth with the increase in demand from households, hotels & restaurants, bars, supplement manufacturers, and other industries. In addition, a rise in demand for healthy snacks, awareness among people toward healthy eating habits, change in lifestyle, various health benefits due to cashew consumption and demand for cashew nut milk for lactose intolerant people are the factors that drive the growth of the global cashew market. However, increased competition from local players and demand for a low-priced alternative are the major threat for the cashew processing and selling companies.
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Cashew nuts are one of the most popular edible nuts available in the market. Cashew is kidney-shaped nut that is rich in protein, Vitamin K, fat, and contains oil. Cashews are roasted and the shell is taken out before consumption. The cashew oil extracted from the cashew is used for the production of plastic. Cashews generally grow near the sea areas and are harvested at the end of summers. Cashews are used as snacks, ingredients in restaurants and are often used in desserts and ice creams by the food & beverage industry. There are several health benefits of cashews such as it helps to decrease blood cholesterol level, reduces the risk of cardiovascular diseases, prevents cancer & gallstones, and helps to promote healthy brain function.
COVID-19 Scenario Analysis:
Cashews are mainly produced by the Asian countries and are highly consumed by the U.S. and other European countries and due to the unavailability of transport facilities as the international borders are closed raw cashews are not reaching the processing units.
The demand for cashews will increase significantly after the pandemic as people will demand more healthy food options which are more beneficial for the body.
The global cashew market trends are as follows:
Vietnam is increasing the production rate
Vietnam is the largest exporter of cashew in the world in terms of volume. The country’s humid tropical climatic condition and large amounts of fertile red soil are the perfect conditions for growing the cashews. Moreover, the initiatives by the government for carrying out high-density planting, commercial farming, and hybrid varieties of seed to ensure high yield makes Vietnam the largest exporter of cashews. In addition, complete automation in the industry and the introduction of new techniques have made Vietnam provide low-cost cashews with the finest qualities.
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Surge in usage in the Cosmetic Industry for Hair Oil
There has been a high demand for cashews by the personal & beauty care industry as an active ingredient to be used in hair oils. The cashew oils contain Vitamin E, unsaturated fats, magnesium, and zinc which important for the human body as it works as an anti-oxidant. In addition, other acids like linoleic and oleic acid are present in cashew which can be used for all hair types and problems.
Key Benefits of the Report:
This study presents the analytical depiction of the global cashewindustry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cashewmarket share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global cashewmarket growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global cashewmarket analysis based on competitive intensity and how the competition will take shape in coming years.
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