North America Cashew Market Size

North America Cashew Market Analysis

The North America Cashew Market size is estimated at USD 1.10 billion in 2024, and is expected to reach USD 1.29 billion by 2029, growing at a CAGR of 3.05% during the forecast period (2024-2029).

• North American cashews contain less selenium than those grown in tropical regions, and most of the regional demand for cashews comes from the United States and Canada. Since the region does not produce cashew as a major crop, the countries here cater to Africa, Brazil, and India for their market demand. The United States and Canada continue to be the largest buyer of Indian cashews, and Brazil is another major exporter that supplies to the United States. Indian cashews are available with prominent importers in the United States, Mexico, and Canada.
• Canada is making inroads to enhance its production of cashews the country. Thus, some of its government organizations are collaborating with cashew producers from other countries to make itself sustainable for cashew production and consumption during the forecast period. nIn June 2019, the Mennonite Economic Development Associates (MEDA), an international development organization based in Canada, in collaboration with its partners in Ghana, signed a partnership agreement with small- and medium-scale cashew crop nursery operators in five regions to produce seedlings for farmers at a subsidized price of 50%.
• Cashew nuts are imported, exported, and distributed in many forms, such as shelled, raw, and salted. However, to avoid any double calculation, the complete analysis of the global production is focused on in-shell cashew nuts. Trade of in-shell cashew nuts is nearly negligible in the region compared to shelled cashews. Hence, the analysis of the report considers imports and exports of shelled cashews.
• There has been an increasing application of cashew nuts in the end-user food market in the country. For instance, cashew nuts are used in snack items, accounting for over 60% of the cashew demand. Raw or roasted cashews are also used to manufacture cashew butter, an alternative to peanut butter for those allergic to peanuts. Increased consumption of cashew nuts as ready-to-eat snacks and rising demand in the processing and commercial food industry are expected to be the major drivers of the market in the region and tend to grow during the forecasting period.