Processed Cashew Market Research Report By Type (Whole Cashews, Cashew Pieces, Cashew Butter, Cashew Milk, Cashew Flour), By Form (Roasted, Salted, Unsalted, Flavored, Organic), By Packaging (Bags, Boxes, Jars, Pouches, Bulk), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retailers, Specialty Stores, Food Service), By Application (Snacks, Confectionery, Dairy Alternatives, Baked Goods, Sauces and Spreads) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast

Global Processed Cashew Market Overview:

As per MRFR analysis, the Processed Cashew Market Size was estimated at 7.2 (USD Billion) in 2022. The Processed Cashew Market Industry is expected to grow from 7.61 (USD Billion) in 2023 to 12.5 (USD Billion) by 2032. The Processed Cashew Market CAGR (growth rate) is expected to be around 5.67% during the forecast period (2024 - 2032).

Key Processed Cashew Market Trends Highlighted

The processed cashew market is experiencing an upsurge in demand owing to health awareness and changing consumer habits. There has been an increase in the use of cashew as an alternative to dairy products because of the increasing popularity of veganism. Also, the increasing demand for convenience and time-saving products is associated with more consumption of ready-to-eat cashew products. Furthermore, increasing urbanization and rising disposable income in emerging economies are driving up the demand for cashew products as snacks and ingredients in foods. 

There are possibilities of developing the processed cashew market by introducing new lines of products like flavored cashew and cashew butter. The expansion should come from the impression of emerging markets that have a well-off socio-economic class. Additionally, the trend towards healthy snacking will allow partnerships with health & wellness brands in the future. In order to seize these opportunities, important companies need to rely on partnerships, product innovation, and targeted communication to specific audiences and proactively address the changing preferences of consumers.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Processed Cashew Market Drivers

Rising Consumer Health Consciousness and Shift towards Healthier Diets

Consumers are increasingly becoming aware of the health benefits of nuts and seeds, including cashews. Cashews are a good source of fiber, protein, and healthy fats, which contribute to a healthy heart, weight management, and overall well-being. This growing health consciousness is driving demand for processed cashews, as consumers seek convenient and healthy snacking options. The Global Processed Cashew Market Industry is expected to witness a significant rise in demand from health-conscious consumers who are seeking natural and nutritious food products.

Expansion of the Processed Food Industry

The processed food industry is growing significantly, and the demand for processed cashew is expected to rise with the increase in demand for more convenient and ready-to-eat food products. Cashew is used widely in processing a number of food items, such as bakery products, confectionery items, and savory snacks. Thus, the growth of the food industry is expected to increase the demand for processed cashew.

Increasing Disposable Income and Changing Lifestyles in Emerging Markets

Emerging markets, such as those in Asia and Africa, are experiencing rising disposable incomes and changing lifestyles. This is leading to increased consumption of processed foods and snacks, including cashews. As consumers in these regions become more affluent, they are seeking premium and value-added products, which is expected to drive demand for processed cashews in the coming years.

Processed Cashew Market Segment Insights:

Processed Cashew Market Type Insights

Processed Cashew Market is segmented by type into whole cashews, cashew pieces, cashew butter, cashew milk and cashew flour. The whole cashews segment accounted for over 40% of the global Processed Cashew Market in 2023, owing to factors such as the high demand for whole cashews from the bakery and confectionery industry. The cashew pieces segment is expected to grow at the fastest CAGR during 2021-2032, owing to the increasing popularity of cashew pieces across the snack mix and trail mix. 

Cashew butter is expected to grow rapidly in the upcoming years as it is a dairy-free peanut butter substitute. Cashew milk is a plant-based milk rich in nutrients and is becoming popular among vegans and lactose intolerant people. Cashew flour is a gluten-free flour used in baking and cooking. As the demand for the gluten-free product is rising the popularity of cashew flour is expected to increase. The growth in the market is driven by the increasing demand for processed cashew products in the application industries such as bakery, confectionery, and dairy alternatives. Also, the growing health consciousness is driving the demand as the products are rich in proteins, fibers and vitamins.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Processed Cashew Market Form Insights

The Form segment of the Global Processed Cashew Market is categorized into Roasted, Salted, Unsalted, Flavored, and Organic. Roasted cashews hold a significant market share due to their popular use as a snack and in various culinary preparations. The growing demand for convenience foods and the increasing popularity of roasted cashews as a healthy snack option drive the growth of this segment. Salted cashews follow closely, benefiting from their widespread use as an ingredient in salads, trail mixes, and savory dishes. Unsalted cashews cater to consumers seeking a more natural and less processed product, finding applications in baking, confectionery, and health-conscious snacking.Flavored cashews, infused with various flavors like honey, barbecue, and spicy seasonings, are gaining traction among consumers seeking unique and indulgent snacking experiences. Organic cashews, produced without the use of synthetic pesticides or fertilizers, appeal to consumers prioritizing ethical and sustainable consumption practices, leading to their increasing demand in health food stores and online retailers. Overall, the Form segment offers diverse options to cater to the varying preferences and dietary requirements of consumers, contributing to the overall growth of the Global Processed Cashew Market.

Processed Cashew Market Packaging Insights

The packaging segment plays a crucial role in the Global Processed Cashew Market, influencing product safety, shelf life, and consumer perception. In 2023, the packaging segment was valued at USD 2.6 billion and is projected to reach USD 4.2 billion by 2032, exhibiting a CAGR of 5.6%. Bags, the most widely used packaging format, accounted for over 40% of the market share in 2023 due to their cost-effectiveness and convenience. Boxes and jars, preferred for premium and gift-oriented products, collectively held a market share of approximately 30%.Pouches, gaining popularity for their lightweight and flexible nature, are expected to witness significant growth over the forecast period. Bulk packaging, primarily utilized in industrial applications, contributed a notable share of the market. The packaging segment is driven by increasing demand for convenient and shelf-stable packaging solutions, rising consumer awareness about product freshness, and growing e-commerce penetration. Manufacturers are focusing on innovative packaging designs, such as resealable pouches and biodegradable materials, to cater to evolving consumer preferences.

Processed Cashew Market Distribution Channel Insights

The Global Processed Cashew Market is segmented based on distribution channel into supermarkets/hypermarkets, convenience stores, online retailers, specialty stores, and food service. In 2023, supermarkets/hypermarkets accounted for the largest share of the market, with a revenue of 4.2 billion USD. This is due to the wide availability of processed cashews in these retail formats, as well as the convenience and variety offered to consumers. Online retailers are expected to witness the fastest growth over the forecast period, with a CAGR of 6.5% from 2023 to 2032.This growth is attributed to the increasing popularity of online shopping, as well as the growing number of consumers preferring to purchase processed cashews online due to the convenience and competitive pricing.

Processed Cashew Market Application Insights

The application segment of the Global Processed Cashew Market is diverse, with key applications including snacks, confectionery, dairy alternatives, baked goods, sauces, and spreads. In 2023, the snacks segment held the largest market share, accounting for over 35% of the global revenue. The growing popularity of on-the-go snacks and the increasing demand for healthy and convenient food options are driving the growth of this segment. The confectionery segment is also expected to witness significant growth over the forecast period, as cashew nuts are increasingly used in chocolates, cookies, and other desserts.The dairy alternatives segment is gaining traction due to the rising demand for plant-based milk and cheese alternatives. Cashew milk and cheese are becoming popular choices for lactose-intolerant consumers and vegans. The baked goods segment is another important application area for processed cashews, as they are used in cakes, pastries, and other baked products to enhance flavor and texture. Sauces and spreads made with cashews are also gaining popularity, as they offer a unique and flavorful addition to various dishes. Overall, the application segment of the Global Processed Cashew Market is expected to experience steady growth in the coming years, driven by the increasing demand for processed cashew products in various food applications.

Processed Cashew Market Regional Insights

The regional segmentation of the Global Processed Cashew Market offers valuable insights into market growth dynamics and opportunities across different regions. North America, Europe, APAC, South America, and MEA constitute the key regional segments of the market. North America is a mature market for processed cashews, with the United States being the dominant player. The region is characterized by high per capita consumption and a strong preference for premium-quality cashews. Europe is another significant market, with Germany, France, and the United Kingdom being the major contributors.The region has a high demand for both raw and processed cashews, driven by the popularity of cashew-based products such as nut mixes, spreads, and snacks. APAC is the fastest-growing regional segment, driven by the rising disposable income and increasing demand for processed cashews in countries such as India, China, and Vietnam. South America and MEA are emerging markets with significant growth potential, supported by the expanding middle class and growing awareness of the health benefits associated with cashew consumption. Overall, the regional segmentation provides a granular understanding of market dynamics, enabling businesses to tailor their strategies to specific regional markets and capitalize on growth opportunities in the Global Processed Cashew Market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Processed Cashew Market Key Players And Competitive Insights:

Major players in the Processed Cashew Market industry are constantly evolving their strategies to gain a competitive edge. Leading Processed Cashew Market players are investing in research and development to introduce innovative products and technologies. They are also expanding their distribution networks to reach a wider customer base. The Processed Cashew Market is expected to witness significant growth in the coming years, driven by increasing demand from emerging economies. The competitive landscape of the Processed Cashew Market is expected to remain dynamic, with new entrants and existing players vying for market share.Olam International Limited is a leading Processed Cashew Market player with a global presence. The company has a wide range of processed cashew products, including whole cashews, cashew pieces, and cashew paste. Olam International Limited has a strong distribution network and a loyal customer base. The company is focused on expanding its operations in emerging markets.Archer Daniels Midland Company is another major Processed Cashew Market player. The company has a strong presence in the United States and Europe. Archer Daniels Midland Company offers a wide range of processed cashew products, including whole cashews, cashew pieces, and cashew butter. The company has a strong focus on research and development and is committed to providing innovative products to its customers.

Key Companies in the Processed Cashew Market Include:

• BEDICO


• Olam International


• Wilmar International


• Cargill


• Vina Cashew JSC


• Olam International Limited


• Hochiminh Cashew Nut Export Factory


• Duc Long Cashew Joint Stock Company


• Agrocorp International


• United Cashew Processors Limited


• Bunge Limited


• Louis Dreyfus Company


• Archer Daniels Midland Company


• Mitsubishi Corporation


• The Gavifer Group

Processed Cashew Market Industry Developments

The Processed Cashew Market is projected to reach USD 12.5 billion by 2032, exhibiting a CAGR of 5.67% during the forecast period 2024-2032. The increasing demand for healthy and convenient snacks, coupled with the growing popularity of plant-based diets, is driving the market growth. Additionally, the rising disposable income in developing countries and the expanding retail sector are further contributing to the market expansion.Recent news developments include the launch of innovative cashew-based products, such as cashew milk and cashew cheese, by major food and beverage companies. This product diversification is expected to attract new consumers and boost market growth. Furthermore, the increasing adoption of sustainable farming practices and the growing awareness of the health benefits of cashews are creating positive market sentiment.

Processed Cashew Market Segmentation Insights

• Processed Cashew Market Type Outlook


• Whole Cashews


• Cashew Pieces


• Cashew Butter


• Cashew Milk


• Cashew Flour


• Processed Cashew Market Form Outlook


• Roasted


• Salted


• Unsalted


• Flavored


• Organic


• Processed Cashew Market Packaging Outlook


• Bags


• Boxes


• Jars


• Pouches


• Bulk


• Processed Cashew Market Distribution Channel Outlook


• Supermarkets/Hypermarkets


• Convenience Stores


• Online Retailers


• Specialty Stores


• Food Service


• Processed Cashew Market Application Outlook


• Snacks


• Confectionery


• Dairy Alternatives


• Baked Goods


• Sauces and Spreads


• Processed Cashew Market Regional Outlook


• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa