Cashew market size is estimated to grow at a CAGR of 5.3% by 2027; Growth led by Achal Group of Industries, Agrocel Industries Pvt. Ltd. among others - Technavio

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Feb 21, 2023, 02:00 ET

NEW YORK, Feb. 21, 2023 /PRNewswire/ -- The cashew market is estimated to grow at a CAGR of 5.3% between 2022 and 2027. The size of the market is forecasted to increase by 1,123.96 thousand tons during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at 3,017.79 thousand tons. The cashew market is segmented based on type, distribution channel, and geography.

In-depth analysis provided in the report includes:

Technavio has announced its latest market research report titled Global Cashew Market 2023-2027

Current and future market trends to highlight market conditions
Comparative analysis of the market and its segments for the historic period of 2017 - 2021
Market drivers and market impediments and their impact on market growth
Positioning of market players and their business strategy analysis
Download a sample now!

Global cashew market size & segmentation analysis

Based on type, the cashew market is segmented into conventional or regular and organic.
Based on distribution channel, the market is segmented into offline and online.
Based on geography, the cashew market is segmented into North America, APAC, Europe, Middle East and Africa, and South America.
For insights on the market contribution of each segment, buy the report!

Cashew market: Country-level analysis

The countries covered in the cashew market report are the US and Canada (North America); the UK, Germany, France, and Rest of Europe (Europe); China and India (Asia); Saudi Arabia, South Africa, and Rest of the Middle East and Africa (Middle East and Africa); and Chile, Brazil, and Argentina (South America).

North America is estimated to account for 45% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the market in the region is attributed to factors such as the substantial production of cashews in the region.
The US and Canada are key countries in the North American market. The increasing vegan population and growing health concerns over the consumption of dairy-based products are increasing consumer preference for dairy-free alternatives such as cashew milk. This is one of the key factors driving the growth of the cashew market in North America.

The geographic landscape of the report also provides market-impacting factors and changes that impact current and future trends. For detailed information, request a sample!

Global cashew market: Dynamics & insights

Technavio's research report on the cashew market provides analysis and insights about the various drivers, along with key challenges, that impact the market throughout the forecast period.

The rising cases of lactose intolerance are notably driving the market growth. The number of lactose-intolerant individuals is increasing, especially in European countries such as Italy, Germany, Spain, Turkey, Poland, France, and the UK. This has spurred the demand for lactose-free products and products that do not contain dairy ingredients. Plant-based alternatives, including cashew milk, is a viable alternative to dairy. With the increasing number of lactose-intolerant people, the demand for cashew milk is increasing worldwide. All these factors are supporting the growth of the global cashew market.

The risk of allergies is a major challenge impeding the market. Cashews have several health benefits. However, some of the proteins present in cashews can cause serious health conditions such as allergies. This is expected to limit the consumption of cashews, which, in turn, will reduce the growth potential in the market.

Cashew market: Competitive landscape and vendor analysis

Technavio's report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Some of the major players operating in the cashew market are Achal Group of Industries, Agrocel Industries Pvt. Ltd., ALPHONSA CASHEW INDUSTRIES, Aryan International, Bata Food, Bismi Cashew Co., CBL NATURAL FOODS Pvt. Ltd., DCC Delicious, Delphi Organic GmbH, DVK Group, Haldiram Foods International Pvt. Ltd, Kalbavi Cashews, NIRVAANIC LIFE FOODS Pvt. Ltd., NUTSCO Inc., Olam Group Ltd., Prime Nuts Online Store, Royal Dry Fruits Pvt. Ltd., Shivam Cashew Industry, Sunorganic Industries Pvt. Ltd., and Vietnam Cashew Processing Joint Co., among others. For insights on the vendor offerings, download a PDF sample!

Related reports:

The tree nuts market is estimated to grow at a CAGR of 7.15% between 2022 and 2027. The size of the market is forecast to increase by USD 20,008.42 million. The rising popularity of vegan snacks among millennials is notably driving the market growth, although factors such as the potential source of allergens may impede the market growth.
The cashew milk market size is expected to increase by USD 59.35 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.9%. The rising prevalence of lactose intolerance and allergies associated with soy, hazelnut, and almond milk is one of the key factors driving the global cashew milk market growth. The availability of substitutes is the major challenge to the global cashew milk market growth.

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Cashew Market Scope
Report Coverage	Details
Page number	141
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.3%
Market growth 2023-2027	1,123.96 thousand tons
Market structure	Fragmented
YoY growth 2022-2023(%)	5.1
Regional analysis	North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution	North America at 45%
Key countries	US, Canada, India, Germany, and France
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Achal Group of Industries, Agrocel Industries Pvt. Ltd., ALPHONSA CASHEW INDUSTRIES, Aryan International, Bata Food, Bismi Cashew Co., CBL NATURAL FOODS Pvt. Ltd., DCC Delicious, Delphi Organic GmbH, DVK Group, Haldiram Foods International Pvt. Ltd, Kalbavi Cashews, NIRVAANIC LIFE FOODS Pvt. Ltd., NUTSCO Inc., Olam Group Ltd., Prime Nuts Online Store, Royal Dry Fruits Pvt. Ltd., Shivam Cashew Industry, Sunorganic Industries Pvt. Ltd., and Vietnam Cashew Processing Joint Co.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio consumer staples market reports

Table of Contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand t)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand t)
Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global cashew market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global cashew market 2017 - 2021 (thousand t)

4.2 Type Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 (thousand t)

4.3 Distribution channel Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 (thousand t)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand t)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand t)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

6.1 Market segments

Exhibit 30: Chart on Type - Market share 2022-2027 (%)
Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

6.2 Comparison by Type

Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type

6.3 Conventional or regular - Market size and forecast 2022-2027

Exhibit 34: Chart on Conventional or regular - Market size and forecast 2022-2027 (thousand t)
Exhibit 35: Data Table on Conventional or regular - Market size and forecast 2022-2027 (thousand t)
Exhibit 36: Chart on Conventional or regular - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Conventional or regular - Year-over-year growth 2022-2027 (%)

6.4 Organic - Market size and forecast 2022-2027

Exhibit 38: Chart on Organic - Market size and forecast 2022-2027 (thousand t)
Exhibit 39: Data Table on Organic - Market size and forecast 2022-2027 (thousand t)
Exhibit 40: Chart on Organic - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Organic - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Type

Exhibit 42: Market opportunity by Type (thousand t)

7 Market Segmentation by Distribution Channel

7.1 Market segments

Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)

7.2 Comparison by Distribution Channel

Exhibit 45: Chart on Comparison by Distribution Channel
Exhibit 46: Data Table on Comparison by Distribution Channel

7.3 Offline - Market size and forecast 2022-2027

Exhibit 47: Chart on Offline - Market size and forecast 2022-2027 (thousand t)
Exhibit 48: Data Table on Offline - Market size and forecast 2022-2027 (thousand t)
Exhibit 49: Chart on Offline - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Offline - Year-over-year growth 2022-2027 (%)

7.4 Online - Market size and forecast 2022-2027

Exhibit 51: Chart on Online - Market size and forecast 2022-2027 (thousand t)
Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 (thousand t)
Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Distribution Channel

Exhibit 55: Market opportunity by Distribution Channel (thousand t)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 57: Chart on Market share by geography 2022-2027 (%)
Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027

Exhibit 61: Chart on North America - Market size and forecast 2022-2027 (thousand t)
Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 (thousand t)
Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 APAC - Market size and forecast 2022-2027

Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 (thousand t)
Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 (thousand t)
Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.5 Europe - Market size and forecast 2022-2027

Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 (thousand t)
Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 (thousand t)
Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.6 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand t)
Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand t)
Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.7 South America - Market size and forecast 2022-2027

Exhibit 77: Chart on South America - Market size and forecast 2022-2027 (thousand t)
Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 (thousand t)
Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 81: Chart on US - Market size and forecast 2022-2027 (thousand t)
Exhibit 82: Data Table on US - Market size and forecast 2022-2027 (thousand t)
Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 India - Market size and forecast 2022-2027

Exhibit 85: Chart on India - Market size and forecast 2022-2027 (thousand t)
Exhibit 86: Data Table on India - Market size and forecast 2022-2027 (thousand t)
Exhibit 87: Chart on India - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on India - Year-over-year growth 2022-2027 (%)

9.10 Germany - Market size and forecast 2022-2027

Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 (thousand t)
Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 (thousand t)
Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.11 Canada - Market size and forecast 2022-2027

Exhibit 93: Chart on Canada - Market size and forecast 2022-2027 (thousand t)
Exhibit 94: Data Table on Canada - Market size and forecast 2022-2027 (thousand t)
Exhibit 95: Chart on Canada - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Canada - Year-over-year growth 2022-2027 (%)

9.12 France - Market size and forecast 2022-2027

Exhibit 97: Chart on France - Market size and forecast 2022-2027 (thousand t)
Exhibit 98: Data Table on France - Market size and forecast 2022-2027 (thousand t)
Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 101: Market opportunity by geography (thousand t)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 102: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 104: Overview on factors of disruption

11.4 Industry risks

Exhibit 105: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 106: Vendors covered

12.2 Market positioning of vendors

Exhibit 107: Matrix on vendor position and classification

12.3 Achal Group of Industries

Exhibit 108: Achal Group of Industries - Overview
Exhibit 109: Achal Group of Industries - Product / Service
Exhibit 110: Achal Group of Industries - Key offerings

12.4 Agrocel Industries Pvt. Ltd.

Exhibit 111: Agrocel Industries Pvt. Ltd. - Overview
Exhibit 112: Agrocel Industries Pvt. Ltd. - Product / Service
Exhibit 113: Agrocel Industries Pvt. Ltd. - Key offerings

12.5 ALPHONSA CASHEW INDUSTRIES

Exhibit 114: ALPHONSA CASHEW INDUSTRIES - Overview
Exhibit 115: ALPHONSA CASHEW INDUSTRIES - Product / Service
Exhibit 116: ALPHONSA CASHEW INDUSTRIES - Key offerings

12.6 Aryan International

Exhibit 117: Aryan International - Overview
Exhibit 118: Aryan International - Product / Service
Exhibit 119: Aryan International - Key offerings

12.7 Bata Food

Exhibit 120: Bata Food - Overview
Exhibit 121: Bata Food - Product / Service
Exhibit 122: Bata Food - Key offerings

12.8 CBL NATURAL FOODS Pvt. Ltd.

Exhibit 123: CBL NATURAL FOODS Pvt. Ltd. - Overview
Exhibit 124: CBL NATURAL FOODS Pvt. Ltd. - Product / Service
Exhibit 125: CBL NATURAL FOODS Pvt. Ltd. - Key offerings

12.9 DCC Delicious

Exhibit 126: DCC Delicious - Overview
Exhibit 127: DCC Delicious - Product / Service
Exhibit 128: DCC Delicious - Key offerings

12.10 Delphi Organic GmbH

Exhibit 129: Delphi Organic GmbH - Overview
Exhibit 130: Delphi Organic GmbH - Product / Service
Exhibit 131: Delphi Organic GmbH - Key offerings

12.11 Haldiram Foods International Pvt. Ltd

Exhibit 132: Haldiram Foods International Pvt. Ltd - Overview
Exhibit 133: Haldiram Foods International Pvt. Ltd - Product / Service
Exhibit 134: Haldiram Foods International Pvt. Ltd - Key offerings

12.12 Kalbavi Cashews

Exhibit 135: Kalbavi Cashews - Overview
Exhibit 136: Kalbavi Cashews - Product / Service
Exhibit 137: Kalbavi Cashews - Key offerings

12.13 NIRVAANIC LIFE FOODS Pvt. Ltd.

Exhibit 138: NIRVAANIC LIFE FOODS Pvt. Ltd. - Overview
Exhibit 139: NIRVAANIC LIFE FOODS Pvt. Ltd. - Product / Service
Exhibit 140: NIRVAANIC LIFE FOODS Pvt. Ltd. - Key offerings

12.14 Royal Dry Fruits Pvt. Ltd.

Exhibit 141: Royal Dry Fruits Pvt. Ltd. - Overview
Exhibit 142: Royal Dry Fruits Pvt. Ltd. - Product / Service
Exhibit 143: Royal Dry Fruits Pvt. Ltd. - Key offerings

12.15 Shivam Cashew Industry

Exhibit 144: Shivam Cashew Industry - Overview
Exhibit 145: Shivam Cashew Industry - Product / Service
Exhibit 146: Shivam Cashew Industry - Key offerings

12.16 Sunorganic Industries Pvt. Ltd.

Exhibit 147: Sunorganic Industries Pvt. Ltd. - Overview
Exhibit 148: Sunorganic Industries Pvt. Ltd. - Product / Service
Exhibit 149: Sunorganic Industries Pvt. Ltd. - Key offerings

12.17 Vietnam Cashew Processing Joint Co.

Exhibit 150: Vietnam Cashew Processing Joint Co. - Overview
Exhibit 151: Vietnam Cashew Processing Joint Co. - Product / Service
Exhibit 152: Vietnam Cashew Processing Joint Co. - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 153: Inclusions checklist
Exhibit 154: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 155: Currency conversion rates for US$

13.4 Research methodology

Exhibit 156: Research methodology
Exhibit 157: Validation techniques employed for market sizing
Exhibit 158: Information sources

13.5 List of abbreviations

Exhibit 159: List of abbreviations

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