The Latin America, Middle East and Africa Cashew Nut Kernel Market would witness market growth of 7.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Cashew Nut Kernel Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $182.2 million by 2031. The Argentina market is registering a CAGR of 7.9% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 6.2% during (2024 - 2031).
Cashew apple, the fleshy fruit attached to the cashew nut, is gaining commercial value in the food and beverage industry, particularly in juices, alcoholic beverages, and fermented products. Rich in vitamin C, antioxidants, and dietary fiber, it is now processed into fresh and packaged juices sold in India, Brazil, and Mozambique by companies like Olam and Agrinut. The juice blends well with pineapple, mango, and passion fruit, increasing its appeal in tropical juice sectors.
Additionally, In the alcoholic beverage sector, the cashew apple is used to make wine and spirits, such as "Cajuína" in Brazil, "Cashew Feni" in Goa, India, and "Suma" in Guinea-Bissau. The fruit’s natural sugars and fermentation properties make it an excellent raw material for producing fruit-based alcoholic drinks, attracting interest from small-scale distillers and commercial breweries.
Raw nut exports have long dominated Tanzania’s cashew industry, but recent government interventions aim to boost local processing and empower smallholder farmers. The Tanzania Agricultural Development Bank (TADB) has launched specialized loan schemes for cashew farmers, allowing them to invest in modern processing units rather than selling raw nuts at lower prices. Additionally, the Cashew Board of Tanzania (CBT) has been working to establish farmer cooperatives, giving growers greater control over pricing and supply chain negotiations. With these efforts, Tanzania gradually shifts from a bulk exporter to a high-value cashew processor, ensuring higher earnings for local producers.
Free Valuable Insights: The Worldwide Cashew Nut Kernel Market is Projected 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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