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.

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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.

 “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.

Competitive Landscape.

  • 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.