According to a new report, published by KBV research, The Global Cashew Nut Kernel Market size is expected to reach $8.42 billion by 2031, rising at a market growth of 5.0% CAGR during the forecast period.
The Scorched Wholes segment is anticipating a CAGR of 4.4% during (2024 - 2031). Scorched whole cashews are slightly browned due to high-temperature drying or roasting, but they maintain the same nutritional value and taste as white whole cashews. These cashews are widely used in processed food products, confectionery, and flavored cashew snacks, where appearance is less critical than taste and texture. Compared to white wholes, their cost-effectiveness makes them an attractive option for large-scale food manufacturers and budget-conscious consumers. Moreover, the growing popularity of roasted and spiced cashew varieties in snack foods has driven the demand for scorched whole cashews in recent years.
The Conventional segment is leading the Global Cashew Nut Kernel Market by Type in 2023; thereby, achieving a market value of $5.1 billion by 2031. Conventional cashews are widely available and cost-effective due to using fertilizers and pesticides, which enhance yield and reduce crop loss. These factors make them the preferred choice for food manufacturers, wholesalers, and consumers looking for budget-friendly options. Additionally, the strong presence of cashew-processing hubs in India and Vietnam, coupled with efficient export networks, ensures a steady supply of conventional cashew nuts to market. The increasing use of cashews in snack foods, confectionery, dairy alternatives, and plant-based products further contributes to this segment's strong market position.
The Grocery Stores segment obtained a CAGR of 5.9% during (2024 - 2031). Grocery stores cater to daily and impulse purchases, making them a preferred distribution channel, especially in developing regions where traditional retail formats dominate. Many consumers prefer to buy smaller cashew packs or locally sourced varieties readily available in grocery stores. Additionally, the rising trend of health-conscious snacking has encouraged grocery retailers to stock diverse cashew products, including organic and flavored options, further boosting demand in this segment.
Full Report: https://www.kbvresearch.com/cashew-nut-kernel-market/
The Asia Pacific region dominated the Global Cashew Nut Kernel Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,926.7 million by 2031. the General Administration of Customs of China (GACC) has streamlined import procedures for high-quality cashews, making them more accessible to consumers. Chinese consumers, particularly in tier-1 cities like Shanghai, Beijing, and Guangzhou, are willing to pay a premium for branded, organic, and flavored cashews, leading to a surge in demand for roasted, honey-glazed, and spicy cashew varieties sold through online platforms like Alibaba’s Tmall and JD.com.
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