Asia-Pacific Cashew Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Asia-Pacific Cashew Exporting Countries and the market is Segmented by Geography (Vietnam, India, China, Japan, Australia, Indonesia, and the Philippines). The report includes Production (Volume), Consumption (Volume and Value), Import (Volume and Value), Export (Volume and Value), and Price Trend Analysis. The market size and forecasts are provided in terms of value (USD) and volume (metric ton) for all the above segments.

APAC Cashew Market Size

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Asia Pacific Cashew Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 7.26 Billion
Market Size (2029) USD 9.01 Billion
CAGR (2024 - 2029) 4.44 %

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APAC Cashew Market Analysis

The Asia-Pacific Cashew Market size is estimated at USD 7.26 billion in 2024, and is expected to reach USD 9.01 billion by 2029, growing at a CAGR of 4.44% during the forecast period (2024-2029).

  • The cashew tree is found worldwide, but it is mostly grown commercially in Northeastern Brazil, Southeast Venezuela, and India. Today, cashew trees grow in other tropical and warm regions, such as Southeast Asia, Africa, and India. More than 80% of cashew cultivation is done by smallholding farms, ranging in size from 0.5 ha to 5 ha in countries of Asia. Medium- and large-scale commercial plantations produce 10-15% of the total production by employing hired laborers in the region.
  • Major cashew nut-producing countries in Asia-Pacific are Vietnam, India, Sri Lanka, Indonesia, and the Philippines. The region is the pioneer of cashew trade and processing on the global platform, which drives the market during the forecast period. According to Food and Agriculture Organization (FAO), India and Vietnam were the two major cashew producers, which accounted for 738 thousand metric tons and 399.3 thousand metric tons, respectively, in 2021. The largest exporting countries in quantities are the Philippines, Indonesia, and Vietnam, which export more than 70%.
  • China imports a large volume of cashews to cater to domestic consumption. The country is increasingly importing cashews to cater to this rapidly growing demand. According to official data from the China Customs Bureau, Chinese cashew imports have increased significantly. For instance, in 2021, China imported cashew nuts worth USD 190.9 thousand, an increase of 26.4% compared to 2020. These factors boost the market and are expected to grow in the coming years.

APAC Cashew Market Trends

Increased Cashew Application in Food Industry to boost the Market

  • Cashews are an extremely diverse form of nuts that provide a host of benefits and have a lot of nutrients filled in them. Their benefits range from preventing heart disease, improving muscle and nerve health, reducing the risk of diabetes (especially type 2 diabetes), working as a cancer chemopreventive agent, and promoting the development of important red blood cells (RBCs), which help transport oxygen to all parts of the body, reducing the risk of anemia, boosting bone and oral health, preventing the occurrence of gallstones, and boosting the immune system. Due to these benefits, consumers are using it daily in the region and globally, thus driving the cashew industry.
  • In addition, cashews are used in the confectionery industry; mainly, pieces and bits of cashew nuts are used to produce chocolate snacks and chocolate-coated whole cashews. It is also used in cuisines, especially in Asia, including sweets, household preparations, etc. Cashew nut consumption in China has constantly been increasing over the years. China's demand is increasing, but the quantity offered by Vietnam is less because the importers have stricter requirements on quality.
  • At the same time, not many sources of the commodity meet their requirements in Vietnam. Chinese buyers are mainly interested in cheaper varieties, such as broken and diced cashews, mainly because the product is increasingly used in the confectionery industry, where cashew kernels are less frequently used in the country.
  • India consumes large quantities of cashew nuts locally. According to the International Nuts and Dried Fruit Council (INDFC), India consumes around 30% of the domestic production of cashew nut kernels. Also, India is the largest consumer of cashew kernels, accounting for around 30% of the total world consumption.
  • According to Food and Agriculture Organization (FAO), due to the increase in consumption, production is also increasing in the region, with 1.6 million metric tons in 2021, which is an increase compared to the previous year.
Asia Pacific Cashew Market: Asia-Pacific Cashew Market: Production in Million Metric Ton, Asia, 2020-2021

India and Vietnam Dominate the Cashew Production in the Region

  • India and Vietnam are among the largest producers of cashews globally, with one-third of the cashews being used for domestic consumption and the rest for export, according to the Food and Agriculture Organization (FAO). Vietnam and India process more than 80% of the world's total cashew crops.
  • India is one of the world's leading producers, processors, and exporters of cashews. Cashew production in India expanded from 703 thousand tons in 2020 to 738 thousand tons in 2021. This has positioned the country as a major producer worldwide, thus boosting the market in the coming years.
  • The production of cashews is increasing year-on-year due to the high demand for export and low processing cost in Vietnam, allowing Vietnam to remain the most prominent shelled and in-shell cashew importer. In 2018, Vietnamese cashew production accounted for 266.4 thousand metric tons, which reached 399.3 thousand metric tons by 2021, as per Food and Agriculture Organization (FAO). Since 2016, this has been the highest volume of production recorded in the given timeline and is further expected to grow huge.
  • The ability to export cashew nuts to Europe is facilitated by food safety certification along with reliable and regular laboratory testing because Vietnam and India are the two most challenging current rivals for new cashew nut suppliers. Due to their extensive output and mechanized processing techniques, Vietnamese and Indian businesses can maintain low cashew nut prices. This will strengthen the market in the countries and grow during the forecasting period.
Asia Pacific Cashew Market: Asia-Pacific Cashew Market: Export Value in USD Million, India, 2020-2021

APAC Cashew Market News

  • January 2023: According to CRISIL (an Indian consulting firm offering ratings, analysis, risk, and policy advice) and a branch of S&P Global, the Indian cashew processing industry is driving demand for cashews, which extended beyond USD 300,000 million in 2022, an increase of 15% year-on-year growth in revenue.
  • July 2022: Department of Agriculture, Cooperation and Farmers Welfare (DAC&FW), under the Mission for Integrated Development of Horticulture (MIDH) and Rashtriya Krishi Vikas Yojana (RKVY), implemented various initiatives that led to increased domestic production of cashew. DAC&FW has approved a program to extend the cashew cultivation area by 1.20 lakh hectares.
  • February 2021: The Department of Agricultural Extension (DAE) of the Ministry of Agriculture is focusing on implementing the project, which aims to increase the area of cashew cultivation in Bangladesh by developing new varieties and investing in processing mills in the country.

APAC Cashew Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain Analysis


    1. 5.1 Geography (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis)

      1. 5.1.1 China

      2. 5.1.2 Vietnam

      3. 5.1.3 India

      4. 5.1.4 Indonesia

      5. 5.1.5 Sri Lanka

      6. 5.1.6 Japan

      7. 5.1.7 Philippines


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APAC Cashew Industry Segmentation

Cashew nuts are edible kidney-shaped nuts belonging to the Anacardiaceae family, rich in oil and protein, and are roasted and shelled before being eaten. Oil extracted from the shells is used as a lubricant in the production of plastics.

The Asia-Pacific cashew market is segmented by geography (Vietnam, India, China, Japan, Australia, Indonesia, and the Philippines). The report includes production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis.

The report offers the market size and forecasts in terms of both value (USD) and volume (metric ton) for all the above segments.

Geography (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis)
Sri Lanka
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APAC Cashew Market Research FAQs

The Asia-Pacific Cashew Market size is expected to reach USD 7.26 billion in 2024 and grow at a CAGR of 4.44% to reach USD 9.01 billion by 2029.

In 2024, the Asia-Pacific Cashew Market size is expected to reach USD 7.26 billion.

In 2023, the Asia-Pacific Cashew Market size was estimated at USD 6.95 billion. The report covers the Asia-Pacific Cashew Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Cashew Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

APAC Cashew Industry Report

Statistics for the 2024 APAC Cashew market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Cashew analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Asia-Pacific Cashew Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)