Market Size of Tanzania Cashew Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 690.97 Million |
| Market Size (2029) | USD 860.25 Million |
| CAGR (2024 - 2029) | 4.48 % |
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Tanzania Cashew Market Analysis
The Tanzania Cashew Market size is estimated at USD 690.97 million in 2024, and is expected to reach USD 860.25 million by 2029, growing at a CAGR of 4.48% during the forecast period (2024-2029).
Tanzania is one of the largest producers of cashew nuts in Africa and in the world. It is one of the major cash crops grown in the country. The country holds the eighth position in the world and fourth in Africa for the production of cashews. According to the International Nut and Dried Fruit Council, in 2020, cashew nut global output was 4.1 million metric tons, of which more than half came from Coast and Guinea-Bissau. India and Vietnam were the other main producers besides Tanzania.
The favorable climatic conditions, along with government support, are the factors that drive the growth of the cashew market in Tanzania. The government aims to triple cashew nut production over the next four to five years. Additionally, the harvest season of Tanzania matches with the off-season for the supply of cashews from India and West Africa, which provides a competitive advantage, thereby allowing the sale of the produce at higher prices.
Moreover, Tanzania has one of the largest-sized nuts with a very high natural yield per hectare, providing a good export value for Tanzanian cashews in the international market. Cashew nuts are Tanzania's most exported cash crop, generating USD 159 million in 2021. The major export countries are Vietnam, India, and China. Thus, the high export value of Tanzanian cashews is expected to boost the growth of the market over the forecast period.
