USA Cashew Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
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USA Cashew Market Analysis
The United States Cashew Market size is estimated at USD 1.00 billion in 2023 and is projected to reach USD 1.28 billion by 2028, growing at a CAGR of 5.00% during the forecast period (2023-2028).
Cashew is a highly nutritious and concentrated form of food, providing a substantial amount of energy. The cashew nut kernel has a pleasant taste and flavor and can be eaten raw, fried, and sometimes salted or sweetened with sugar. Cashew nuts are consumed in various forms, including as salty or sweet snacks and as ingredients in desserts and savory dishes, or are further processed into cashew butter or as ingredients in multiple spreads, sauces, bars, and drinks.
The rapidly growing groups of vegans, vegetarians, and occasional meat-eaters in the country prioritize plant-based diets and alternative protein sources instead of those derived from animals, resulting in the soaring demand for nuts and nut-infused food, thereby increasing the consumption of cashew nuts in the country. Also, there has been an increasing application of cashew nuts in the end-user food market, boosting the consumption of cashews in the country.
Cashew kernels are a popular nut with many uses, from snacking to cooking and baking. They are also a good source of nutrients such as protein, healthy fats, and minerals like magnesium and zinc. It's worth noting that the price of cashew kernels can vary depending on the nuts' quality, origin, and availability. Production, processing, and transportation costs can also impact the price. The demand for cashew nuts is expected to grow due to their popularity and versatility.
The health benefits of cashew consumption and demand from the cashew processing industries are the prime drivers of the market in the country. Cashew consumption is mainly concentrated in California, Florida, New York, Texas, and New Jersey. In recent years, consumers have been incorporating cashew nuts into their diets as a snack and ingredient in various food products. This trend is driven by several factors, including the perceived health benefits of cashews, such as their high nutrient content, including healthy fats, protein, and fiber. Moreover, cashews are a versatile ingredient that can be used in various ways, including as a dairy alternative in products like cashew-butter yogurt. The launch of innovative cashew-infused products has helped to fuel the trend, particularly among younger and health-conscious consumers.
USA Cashew Market Trends
Health Benefits of Cashew Nuts Increases Consumption
Cashews are a rich source of protein, fat, copper, magnesium, manganese, zinc, phosphorus, iron, and vitamins. Cashews are especially rich in unsaturated fats, linked to a lower risk of premature death and heart disease. They also contain polyunsaturated fatty acids, which help lower low-density lipoproteins (LDL) and increase the high-density lipoproteins in the body (HDL).
In addition, cashews contain a significant amount of copper, a mineral essential for energy production, healthy brain development, and a robust immune system. Cashews are high in nutrients, which improve bone health in humans, as one ounce of cashew contains 622 micrograms of copper.
Cashews are increasingly used as a constituent in muesli, energy bars, cookies, chocolates, and ice creams. Therefore, the essential stimulant for cashew consumption is in high demand from direct consumers and cashew milk processing industries in the United States. According to the International Nut and Dried Fruits Council, the per capita consumption of cashews in the country increased from 0.48 kg/year in 2019 to 0.54 kg/year in 2021.
The rising health-consciousness concern and greater acceptance of plant-based diets in the country are escalating cashew and product consumption. This otherwise has an inflation-driven consumption pattern, as per the International Nut and Dried Fruit Council.
Growing Cashew Nut Imports in The Country
The United States is the largest consumer of cashew nuts, followed by Germany, the Netherlands, China, the United Arab Emirates, and the United Kingdom, owing to the increasing health consciousness among people. Cashew requires a frost-free tropical climate; hence, planting in the United States is limited to extreme south Florida, Hawaii, and Puerto Rico. There is no commercial production in the United States as of now. However, cashews are grown in botanical collections and some home landscapes, which propels higher imports across the globe to fulfill the demand.
According to the International Trade Center (ITC), Trademap, Vietnam, Brazil, Cote d'Ivoire, India, and Indonesia are the major exporters of fresh or dried cashew nuts to the United States. In 2021, Vietnam was the largest exporter, accounting for most imports at 163,169 metric tons. Brazil, Cote d'Ivoire, India, and Indonesia also exported significant amounts, with 5,718 metric tons, 4,608 metric tons, 3,149 metric tons, and 2,286 metric tons, respectively.
The popularity of cashew processed food materials such as cashew milk, butter, cookies, smoothies, snacks, milk, cream, cheese, and many others in the country will escalate to higher imports in the coming years.
Cashew kernels represent the main product of the cashew industry. They are consumed in various forms, including a salty or sweet snack or an ingredient in desserts and savory dishes. They are further processed as cashew butter or as an ingredient in various spreads, sauces, bars, and drinks. In addition, Cashew oil is a necessary byproduct that can be extracted from cashew kernels.
The oil is rich in nutrients and has a variety of uses in the food industry, such as in cooking, salad dressings, and as a flavoring agent. Cashew kernels are also graded based on quality, with standards set by various organizations and countries. These standards consider factors such as the color and size of the kernels, as well as whether they are whole or broken. This grading system helps ensure consistency and quality in the cashew industry for producers and consumers.
USA Cashew Market News
- February 2023: New Organic Cashew Milk and Blue Cold-Pressed Juice were launched under the brand Clean Juice, which is a USDA-organic certified cold-pressed cashew milk.
- September 2020: Z Natural Foods launched a new dairy-free Cashew Milk Powder as an alternative to traditional milk products in the country.
- February 2020: The United States Department of Agriculture (USDA) launched a USD 38 million project in The Gambia, Senegal, and Guinea-Bissau in Africa to enhance the regional cashew value chain and improve the trade of processed cashews in local provinces and in the United States.
USA Cashew Market Report - Table of Contents
1. INTRODUCTION
1.1 Market Definition and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Consumption of Cashew Nuts in the Country
4.2.2 Favorable Government Initiatives
4.3 Market Restraints
4.3.1 Hazardous Climatic Condition Hinders Cashew Production
4.3.2 Stringent Regulations Related to Food Quality Standards
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Production Analysis (Volume)
5.2 Consumption Analysis (Value and Volume)
5.3 Import Analysis (Value and Volume)
5.4 Export Analysis (Value and Volume)
5.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
USA Cashew Industry Segmentation
Cashews are kidney-shaped edible nuts rich in oil, protein, and fat, which are roasted and shelled before they can be eaten.
The United States cashew market analyzes the production (volume), consumption (value and volume), and trade in terms of import (value and volume), export (value and volume), and the price trend in the country.
The report offers the market size and forecasts in volume (metric ton) and value (USD million) for the above segments.
USA Cashew Market Research FAQs
What is the current United States Cashew Market size?
The United States Cashew Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
What years does this United States Cashew Market cover?
The report covers the United States Cashew Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Cashew Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Cashew Nut Industry Report
Statistics for the 2024 US Cashew Nut market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Cashew Nut analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
