Asia-Pacific Cashew Market Size

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.