It is also used in cuisines, especially in Asia, including sweets, household preparations, etc. In addition, cashews are used in the confectionery industry mainly, pieces and bits of cashew nuts are used to produce chocolate snacks and chocolate-coated whole cashews. Due to these benefits, consumers are using it daily in the region and globally, thus driving the cashew industry. Their benefits range from preventing heart disease, improving muscle and nerve health, reducing the risk of diabetes (especially type 2 diabetes), working as a cancer chemopreventive agent, and promoting the development of important red blood cells (RBCs), which help transport oxygen to all parts of the body, reducing the risk of anemia, boosting bone and oral health, preventing the occurrence of gallstones, and boosting the immune system. Cashews are an extremely diverse form of nuts that provide a host of benefits and have a lot of nutrients filled in them.Report scope can be customized per your requirements. Geography (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis) The report offers the market size and forecasts in terms of both value (USD million) and volume (metric ton) for all the above segments. The report includes production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis. The Asia-Pacific cashew market is segmented by geography (Vietnam, India, China, Japan, Australia, Indonesia, and the Philippines). Oil extracted from the shells is used as a lubricant in the production of plastics. These factors boost the market and are expected to grow in the coming years.Ĭashew nuts are edible kidney-shaped nuts belonging to the Anacardiaceae family, rich in oil and protein, and are roasted and shelled before being eaten. For instance, in 2021, China imported cashew nuts worth USD 190.9 thousand, an increase of 26.4% compared to 2020. According to official data from the China Customs Bureau, Chinese cashew imports have increased significantly. The country is increasingly importing cashews to cater to this rapidly growing demand. China imports a large volume of cashews to cater to domestic consumption.The largest exporting countries in quantities are the Philippines, Indonesia, and Vietnam, which export more than 70%. According to Food and Agriculture Organization (FAO), India and Vietnam were the two major cashew producers, which accounted for 738 thousand metric tons and 399.3 thousand metric tons, respectively, in 2021. The region is the pioneer of cashew trade and processing on the global platform, which drives the market during the forecast period. Major cashew nut-producing countries in Asia-Pacific are Vietnam, India, Sri Lanka, Indonesia, and the Philippines.Medium- and large-scale commercial plantations produce 10-15% of the total production by employing hired laborers in the region. More than 80% of cashew cultivation is done by smallholding farms, ranging in size from 0.5 ha to 5 ha in countries of Asia. Today, cashew trees grow in other tropical and warm regions, such as Southeast Asia, Africa, and India. The cashew tree is found worldwide, but it is mostly grown commercially in Northeastern Brazil, Southeast Venezuela, and India.The Asia-Pacific Cashew Market size is estimated at USD 6.95 billion in 2023, and is expected to reach USD 8.63 billion by 2028, growing at a CAGR of 4.44% during the forecast period (2023-2028).
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