The global processed cashew market is set to witness growth at a CAGR of 5.8%, surpassing US$ 8,793.0 Mn by 2032, finds Future Market Insights (FMI). Growth is driven by rising demands for superfood with nutritional properties.
Consumers are increasingly interested in diets that are both sustainable and healthy. Hence, adoption of sustainable food products such as plant-based is increasing. With growing awareness of the importance of living a healthy lifestyle, preference for a natural diet is expected to propel.
With increased competition among companies producing functional ingredients as the food and beverage industry, companies are constantly innovating to design novel products in order to maintain market leadership.
Key Takeaways from Market Study
- The processed cashew market is estimated to expand at CAGR of 5.8% over the forecast period (2022-2032)
- In terms of nature, conventional segment of processed cashew is likely to be leading form through 2022.
- Organic processed cashew segment will witness highest growth during the assessment period
- Based on application, bakery & confectionery holds a dominant market share in this segment as processed cashews are widely used in cookies and biscuits.
- South Asia is expected to dominate the processed cashew market, with India spearheading the growth during the projection period.
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“With hectic lifestyle, demand for quick, healthy, and convenient food options is surging. To capitalize on this growing demand for healthy snacks, key companies are introducing products such as nut butters, milks, roasted and coated cashews, cheeses, etc. This is likely to augment the sales in the market.”, says a Future Market Insights analyst.
- In 2020, Milled announced the launch of organic cashew which are Vegan, Gluten-Free, Paleo, Keto.
- Superior confectionery brand Chocolat Madagascar stated that they are ready to launch newest line of bars aiming the vegan sector particularly developed using fresh cashew chocolate.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an unbiased analysis of the global processed cashew market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Processed Cashew Market By Category
By Product Type:
- Cashew Flour
- Cashew Paste
- Cashew Protein Powder
- Cashew Oil
- Cashew Butter
- Coated/Flavored Cashews
- Sliced and Diced Cashews
By End-Use Application:
- Protein Bars and Powder
- Cereals and Muesli
- Dairy Products
- Ice Creams
- Energy Drinks
- Bakery & Confectionery
- North America
- Latin America
- East Asia
- South Asia
- Middle east and Africa
Explore FMI’s Extensive ongoing Coverage on Food and Beverage Domain
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