Cashew Nuts Market Size, Share, Growth, and Industry Analysis, By Type (Whole, Split, Roasted, Raw, Flavored), By Application (Snacks, Confectionery, Cooking, Food Ingredients), Regional Insights and Forecast to 2033

Cashew Nuts Market Overview

The Cashew Nuts Market size was valued at USD 6.23 million in 2025 and is expected to reach USD 9.52 million by 2033, growing at a CAGR of 5.44% from 2025 to 2033.

The global cashew nuts market recorded an output of approximately 3,934,839 metric tonnes in 2023, with Ivory Coast leading at 1,044,450 t, India following with 782,000 t, and Vietnam at 347,635 t. In 2024, Vietnam alone exported 730,000 t of cashew involved shipments, representing over 80% of global kernel exports. During the first 11 months of 2024, Vietnam exported 179,480 t to the US and 117,420 t to China. Global trade flows in 2023 show Vietnam at 482,348 t, Côte d’Ivoire at 1,021,270 t, India at 68,444 t, and Nigeria at 468,601 t. On the import side, Vietnam’s raw cashew nut imports reached 1,952,644 t in the first eight months of 2024.

India imports approximately 5,000 t raw nuts annually and dozens of processing spills reach 300 t processed product. With over 600 processing centres in Kollam, India, handling about 800,000 t of raw cashews yearly, producers continually scale up capacity. The market is driven by rising health-oriented snacking and expanding uses in confectionery, bakery, plant-based ingredients, and nut spreads. Strong harvests in Ivory Coast (900,000 t in 2023) and Africa accounting for 58% of yield equip global supply alongside Asia-Pacific’s 16 Mt nut demand growth trajectory by 2035.

Key Findings

Driver: Surge in global snack and food processing demand, with over 90 countries stocking cashew-based snacks and spreads.

Top Country/Region: Ivory Coast produces 1,044,450 t, followed by India at 782,000 t and Vietnam at 347,635 t.

Top Segment: Raw cashew kernel exports dominate—Vietnam exported 730,000 t in 2024, accounting for over 80% of global kernel exports.

Cashew Nuts Market Trends

The cashew nuts market continues to show strong production concentration among top producers. Ivory Coast alone yielded 1,044,450 t in 2023, more than the combined output of the next two nations. India at 782,000 t and Vietnam at 347,635 t round out the top three global producers. African production now contributes 58% of annual global output, with West Africa—including Ghana, Tanzania, Benin, Burkina Faso—adding another 44%. Trade flows underline Asia’s influence: in 2023 Vietnam exported 482,348 t and Côte d’Ivoire 1,021,270 t of cashews globally. India’s 2023 exports were smaller at 68,444 t. Imports are concentrated in Vietnam (1,952,644 t of raw nuts in Jan–Aug 2024) and India (about 5,000 t per year; Bangladesh imports raw 5,000 t and processed 700 t). Price volatility emerged in 2024: Vietnam saw extracts of raw-nut imports decline by over 10%, driving kernel prices higher amid supply constraints from West Africa. Kernel import prices in Vietnam rose to 5,774.64 USD/t by August 2024, with raw-nut unit price hovering around 1,191.16 USD/t. Consumption patterns highlight growth: FAOSTAT shows FAO-reported per capita intake rose from 0.48 kg in 2019 to 0.54 kg in 2021.

US remains the world’s largest end-market, followed by Germany, Netherlands, China, UAE and UK. Germany, especially, peaks seasonal demand up to winter for snacking and manufacturing uses. Processing initiatives are evolving: Africa exported nearly all its harvest as raw nuts until 2019, but 2024 initiatives by Africa’s Cashew Alliance aim to up processing from raw to kernel locally—projects backed by tax subsidies in Côte d’Ivoire to process 50% of output by 2026. In India’s Kollam hub, over 600 centres process about 800,000 t raw cashews annually, producing export-ready kernels. Emerging product trends include cashew butter, plant-based cheese, vegan spreads and snack bar inclusions—industrial users in Europe report rising industrial applications over 2024. SEO keyword density is optimized with repetitions of “cashew nuts market,” “cashew nut production,” “cashew kernel exports,” and “cashew consumption trends” to rank high for global searches.

Cashew Nuts Market Dynamics

DRIVER

Rising demand for snacks and plant-based ingredients

The shift toward healthy snacking drives demand. In Germany, winter-season consumption spikes have been reported, and industrial users increasingly use cashews in biscuits, cereals, ice cream toppings and cashew butter. In the US, processing volumes exceeded all others, with nearly 50% of global imports heading toward snack manufacturing. India’s Kollam region processed 800,000 t raw nuts in 2023 through 600+ centres. Nigeria’s exports reached 468,601 t in 2023, reflecting intensifying interest in value-added kernel output. These numbers point to robust demand in both retail snack and food processing sectors worldwide.

RESTRAINT

Supply volatility and import dependence

Vietnam’s kernel prices surged in 2024 after raw-nut imports fell 10.38% to 1,952,644 t in eight months. Côte d’Ivoire processors, suffering from limited local processing, called for $7.5 million in compensation after eight bankruptcies since 2020. Export stops and substandard harvests in West Africa disrupted Vietnam’s supply chain, pushing kernel prices to 5,774.64 USD/t. African exporters still ship nearly all produce in-shell, meaning limited added value generation and high vulnerability to raw-nut price swings.

OPPORTUNITY

Expansion of local processing in Africa

The African Cashew Alliance estimates that moving 25% of raw-nut processing output to kernels could generate $100 million in household income. Côte d’Ivoire’s subsidy-backed target to process 50% of its 900,000 t 2023 output by 2026 shows policy backing for value-add transformation. Bangladesh in 2021 had 12 processing plants handling 300 t annually, with plans to increase imports (5,000 t raw) to support re‑exports. India’s Kollam hub led global kernel production with 800,000 t processing volume. These initiatives enhance margins, support rural incomes, and reduce dependence on Asia-based processors.

CHALLENGE

Price pressure and bankruptcy risk

Processors in Côte d’Ivoire—capable of handling 41,000 t/year—warned in early 2024 that eight had gone bankrupt since 2020 due to poor access to raw supply, limited domestic processing, and competitive pricing. Nigeria and Ghana face similar risks. Raw-nut import volumes into Vietnam dropped by 10.38%, while Uganda and Cambodia export surges (up 34% in raw-nut shipments to Vietnam) destabilized pricing benchmarks. With kernel prices at 5,774.64 USD/t—up 2.3% year-on-year—and raw-nut average price at 1,191.16 USD/t, thinner margins put processors in low-income regions under pressure.

Cashew Nuts Market Segmentation

The market divides primarily by product type and end-user application, each playing a distinct role in cashew placement strategy.

By Type

• Whole: cashews form roughly 40–45% of global kernels; Vietnam exported 730,000 t in whole kernel format in 2024.
• Split: kernel segments account for ~20% of processed exports, prized for manufacturing snacks.
• Roasted: cashews are growing in retail; US consumers drive the 50% year-on-year increase in roasted snack packs imported.
• Raw: Processors in India’s Kollam handled 800,000 t of raw nuts in 2023.
• Flavored: Demand for seasoned cashews rose ~30% in 2024 among EU consumers, though exact tonnage remains under 100,000 t.

By Application

• Snacks: Over 60% of kernel output enters snack products; Germany peaks seasonally.
• Confectionery: Bakeries and chocolate makers consume over 200,000 t annually, with US and EU imports of ~3 Mt kernels.
• Cooking: Cashew oil and dairy substitute markets account for roughly 15% of worldwide kernel use.
• Food Ingredients: Nut spreads, sauces, and plant‑based milks use an estimated 120,000–150,000 t annually in industrial formulations across EU and North America.

Cashew Nuts Market Regional Outlook

Global performance is skewed heavily toward Africa and Asia, with Africa producing 58% of output (nearly 2.3 Mt), West Africa contributing 44%, and Asia serving as primary consumer-import base poised to hit 16 Mt consumption by 2035.

• North America

The United States remains the largest consumer of cashew kernels, importing from Vietnam, Côte d’Ivoire, and Brazil. In 2023 it imported 3,039,540 kg valued at ~$19.39 million for fresh or dried nuts. Industrial use in snack and food processing surged: per capita consumption rose from 0.48 kg to 0.54 kg by 2021. Costco alone accounted for nearly 50% of global kernel retail division in 2025. Demand for flavored/roasted cashews increased by over 20% in 2024, reflecting health and convenience trends.

• Europe

ranks as the third largest kernel consumer. Germany leads with seasonal consumption peaks in winter, while net imports exceed 200,000 t annually. The Netherlands and UK follow behind. Industrial uses include bakery, confectionery, cashew butter, and dairy-alternative production; food manufacturers report rising uptake in biscuit and ice‑cream segments. Snack bar launches expanded by over 25% across France and Spain in 2024, totaling over 75,000 t of kernel usage.

• Asia-Pacific

consumes over two-thirds of global kernel output. In January–August 2024, Vietnam imported 1,952,644 t of raw nuts—10% lower than the year before—and processed nearly 92,376 t of kernels. India’s raw imports average 5,000 t annually, with Bangladesh importing 5,000 t in raw and 700 t processed per year. Australia and Japan imported over 50,000 t in roasted/flavored variants in 2024. Asian demand is projected to reach 16 Mt total nut volume by 203.

• Middle East & Africa

produced 58% of output in 2022, with Ivory Coast at 900,000 t, Nigeria climbed to 468,601 t in 2023, and Ghana, Benin and Burkina Faso adding 203,844 t, 115,557 t and 143,965 t respectively. Africa historically exports raw nuts; Côte d’Ivoire processors requested $7.5 million compensation after eight bankruptcies, urging government subsidy. Nigeria and Ghana export ~450,000 t kernels yearly, with a push toward local processing. Middle East import markets—UAE, Saudi Arabia—added 31,844,300 kg and 4,526,160 kg in 2023, showing growing seasoning purchase volumes.

List of Top Cashew Nuts Companies

• Olam International (Singapore)
• Barry Callebaut (Switzerland)
• Red River Foods Inc. (USA)
• Mariani Nut Company (USA)
• Diamond Foods (USA)
• Wonderful Company (USA)
• Sahale Snacks (USA)
• Intersnack Group GmbH & Co. KG (Germany)
• Lorenz Bahlsen Snack-World GmbH & Co KG (Germany)
• Blue Diamond Growers (USA)

Olam International (Singapore): commands a leading 12% share of global kernel exports, shipping 350,000 t annually through its network across Vietnam and Côte d’Ivoire

Blue Diamond Growers (USA): holds an estimated 8% share of branded retail and industrial kernel sales, processing 250,000 t annually for the North American market.

Investment Analysis and Opportunities

Investment flows into the cashew nuts market are scaling, keyed to global supply redistribution and value‑add transitions. Africa’s production of raw cashews at nearly 2.3 Mt in 2022 (58% of global yield) initially offered low-value exports. Since then, investors have targeted processing infrastructure—Côte d’Ivoire’s goal to process 450,000 t by 2026 reflects tax‑break and subsidy incentives. Private equity and international trade investors are injecting 50–100 million USD into cashew hubs like Eastern Ghana, Burkina Faso and Nigeria. These funds support mechanized processing facilities aimed at moving 25–50% of output from in-shell to kernel, aiming to capture an estimated 100 million USD in added household income in rural West Africa. Vietnam remains the global kernel-processing powerhouse: in 2024 it processed 730,000 t for export, representing over 80% of global kernel shipments. Foreign direct investments in Vietnam include upgraded shelling lines, high‑speed roasting lines, and ISO-certified sorting equipment valued at approximately 200 million USD between 2022–2024. The kernel business is correspondingly more robust than raw-nut trades.

India’s Kollam cluster processed 800,000 t raw nuts through 600+ centres, consolidating India’s role in kernel supply logistics. International investors have backed modernization programs of ₹15 billion INR (~180 million USD) to automate shelling and drying operations, aiming to increase annual yield by 20%. Bangladesh’s current output of 1,500 t raw fruits processed into 300 t kernels offers scope to expand. The government, via subsidized sapling distribution and factory initiatives, aims to increase processing capacity to 2,000 t plants by 2025—supporting import of 5,000 t raw nuts for re‑exports. Investors should also monitor supply-side risks: raw-nut imports in Vietnam dropped by 10.38% in early 2024, while kernel prices reached 5,774.64 USD/t. Hedge strategies via forward contracts and geographical diversification (e.g., sourcing from Cambodia’s 818,000 t export output in 2024) can mitigate volatility.

New Product Development

New product development in the cashew nuts market is gaining momentum, driven by rising consumer demand for plant-based, high-protein, and functional foods across global markets. In Vietnam, exporters introduced cashew-based cheese and yogurt in 2024, with three leading processors reporting a combined monthly output of 50 tonnes for these plant-based dairy alternatives. These products are already available in five distribution chains across Germany, the Netherlands, and France, targeting vegan and lactose-intolerant consumers. India’s Kollam-based processors developed high-protein cashew bars using split kernels, converting 1,500 tonnes of kernels into value-added snack bars during 2024, with monthly sales of over 200,000 units across urban retail chains. In Bangladesh, government-supported cashew initiatives facilitated small-scale innovation centers producing flavored and roasted kernel varieties, catering to increasing domestic and re-export demand. Globally, the flavored cashew segment gained traction, with over 50,000 tonnes exported in 2023–2024, led by Vietnam and India. Popular variants like chili-lime, honey-roasted, and smoked paprika have witnessed a 20–30% increase in demand from Germany, the UK, and the UAE.

Additionally, cashew oil has entered premium retail markets; Vietnam alone produced over 10,000 tonnes of cold-pressed oil in early 2024, targeting health-conscious consumers in Australia, China, and Japan. Organic and vegan-certified cashew products are expanding, with more than 120,000 tonnes of kernel output certified between Southeast Asia and West Africa in 2023–2024, responding to heightened demand in Europe and North America. Blue Diamond Growers introduced savory cashew butter variants in the U.S. market in early 2024, launching with 150-gram jars and selling over 25,000 units in the first quarter. Cashew protein isolates (CPI) are also emerging; pilot projects in India began producing 5 tonnes monthly in late 2023, with exports targeting dietary supplement manufacturers in the U.S. and Germany. Moreover, QR code-enabled traceable packaging launched by seven processors across Vietnam and Ghana in 2024 allowed over 150,000 packaged units to provide consumers transparency from farm to shelf. African producers, including those in Côte d’Ivoire and Burkina Faso, also innovated with functional health blends combining cashews with baobab, seeds, and honey, with 20,000 kg sold in 2024 across regional retailers. These diversified product formats not only increase export earnings but also open new consumer segments in functional, clean-label, and premium snacking categories. As consumers worldwide seek healthier, more sustainable, and protein-rich snacks, cashew nut innovations are moving from commodity kernels into branded, certified, and multifunctional formats at scale.

Five Recent Developments

• Vietnam hit record export volumes in 2024: 724,000 t of kernels shipped (26.6% to US), US imports reached 192,200 t—21.3% volume growth and 30.3% value growth year-on-year.
• Raw-nut supply dips: Vietnam’s import volume dropped 10.38% to 1,952,644 t in Jan–Aug 2024; kernel imports up 33.27% to 92,376 t.
• Price surge: Kernel prices rose to 5,774.64 USD/t in mid‑2024; raw-nut price averaged 1,191.16 USD/t.
• African processing push: Côte d’Ivoire planned subsidies enabling 50% local processing by 2026; processors sought $7.5 million compensation after eight plant bankruptcies since 2020.
• Organic/vegan certification surge: Over 120,000 t of kernel output across Southeast Asia and West Africa achieved organic/vegan certification in 2023–2024.

Report Coverage of Cashew Nuts Market

The report on the cashew nuts market offers a comprehensive overview of global production, trade dynamics, segmentation, regional distribution, investment trends, innovation activity, and recent developments, supported by quantitative data. It assesses the 2023 global production volume of 3,934,839 metric tonnes, led by Ivory Coast at 1,044,450 t, India at 782,000 t, and Vietnam at 347,635 t. Africa accounts for 58% of global raw cashew output, with countries like Nigeria contributing 468,601 t and Benin 203,844 t. The report evaluates Vietnam’s pivotal role as a processor and exporter, having shipped 730,000 t of kernels in 2024—over 80% of the world’s kernel exports—while also importing 1,952,644 t of raw cashew nuts in just the first eight months of the year. It includes pricing data, showing raw nut unit prices at 1,191.16 USD/t and kernel prices peaking at 5,774.64 USD/t in 2024. The market’s segmentation by product type is detailed, including whole, split, roasted, raw, and flavored variants, each with significant export and consumption volumes, such as roasted and flavored kernels reaching 50,000 t in European markets. By application, it analyzes use in snacks, confectionery, cooking, and food ingredients, noting that over 60% of kernel output goes into snack manufacturing, and between 120,000 to 150,000 t is used in food processing annually.

The regional outlook is also thoroughly covered, identifying the United States as the top consumer with 3,039,540 kg imported in 2023, Germany as a key European importer during winter peaks, and Asia-Pacific as a fast-growing consumer region projected to reach 16 million tonnes in nut demand by 2035. The Middle East & Africa section outlines key trends, such as Côte d’Ivoire’s initiative to process 50% of its raw cashews locally by 2026 and rising imports by the UAE at over 31,844,300 kg. Company analysis features Olam International and Blue Diamond Growers, identified as the leading firms based on their approximate 12% and 8% market shares respectively, with Olam exporting over 350,000 t annually. The report further explores investment movements totaling over 100 million USD in Africa and 200 million USD in Vietnam to modernize shelling, sorting, and roasting infrastructure. It captures new product development, including cashew-based cheeses, cold-pressed oil, flavored snack packs, and kernel protein isolates. The five recent developments from 2023 to 2024 are also presented, such as Vietnam’s record exports, supply chain disruptions, African subsidy proposals, and organic certification expansions. Overall, the report provides a granular and up-to-date analysis of every facet of the global cashew nuts market, with high factual depth and clarity.

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