The Asia Pacific Cashew Nut Kernel Market would witness market growth of 5.4% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Cashew Nut Kernel Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,096.4 million by 2031. The Japan market is showcasing a CAGR of 4.8% during (2024 - 2031). Additionally, The India market would register a CAGR of 6.1% during (2024 - 2031).
The market for cashew nut kernels has experienced significant growth over the past several decades, propelled by rising consumer demand, technological innovations, and the expansion of trade. Cashew nuts, scientifically known as Anacardium occidentale, are widely consumed as a nutritious snack and an essential ingredient in various food products.
Moreover, native to Brazil, cashew cultivation has expanded across tropical regions, particularly in India, Vietnam, Ivory Coast, Nigeria, and Indonesia, among the leading producers and exporters of cashew kernels. The growing recognition of the nutritional advantages of cashew nuts, their varied applications within the food and beverage sector, and the escalating embrace of plant-based diets have substantially driven market growth.
China's demand for cashew nuts has surged significantly, propelled by the expansion of its middle class, urbanization, and a rising inclination towards healthy, imported treats. The Chinese government’s Healthy China 2030 policy emphasizes balanced diets, indirectly boosting nut consumption. Additionally, the General Administration of Customs of China (GACC) has streamlined import procedures for high-quality cashews, making them more accessible to consumers.
Free Valuable Insights: The Global Cashew Nut Kernel Market is Predict to reach USD 8.42 Billion by 2031, at a CAGR of 5.0%
Based on Type, the market is segmented into Conventional, and Organic. Based on Product, the market is segmented into White Wholes, Scorched Wholes, Dessert Wholes, White Pieces, and Other Product. Based on Distribution, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Grocery Stores, and Online Retailers. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia & New Zealand, Malaysia, and Rest of Asia Pacific.
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