Indian Cashew Market
Dublin, Aug. 30, 2024 (GLOBE NEWSWIRE) — The “India Cashew Market Forecast Report by Cashew Production Market by States, Cashew Export Market by Countries, and Company Analysis, 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The India Cashew Market was valued at US$ 2.18 billion in 2023 and will grow to US$ 3.15 billion by 2032, with a CAGR of 4.14% from 2024 to 2032. The demand for plain or salted cashews is driven by the diversity of beverage applications that can be used to eat them at home, which is why they are so popular worldwide. A primary driver of the market is the growing usage of plain cashew in Indian cooking, particularly in sweets.
Growing Awareness of Health
The Indian cashew industry is expanding significantly due to a number of important factors, one of which is the growing awareness of health benefits. Demand for cashews has increased as people become more conscious of their health benefits. Rich in important vitamins, minerals, and heart-healthy fats, cashews are known for their high nutritional content, which supports immunity, strengthens the heart, and enhances general well-being. Interest in cashews has increased due to the growing popularity of plant-based diets and healthy snacks, which are considered as a healthful substitute for less nutrient-dense snack options.
Moreover, consumers are searching for nutrient-dense foods due to increased worries over lifestyle-related health issues like obesity and cardiovascular illnesses. Cashews’ advantageous profile makes them a good fit for this trend. The growing popularity of clean eating and organic products, which has increased demand for premium, natural food ingredients, is another factor contributing to the transition toward a healthier lifestyle.
Consequently, there is a surge in consumer interest and sales for the cashew business, which is further supported by marketing initiatives that emphasize the health advantages of cashews. The need for and increased knowledge of healthier food options are driving the Indian cashew market’s growth.
Developments in Agriculture
Improvements in agriculture have a major role in the expansion of the Indian cashew market. By reducing resource waste and strengthening crop resilience, contemporary agricultural practices like integrated pest management and precision agriculture maximize cultivation and increase yield. An further factor in higher yields and steady production is the adoption of premium, disease-resistant seeds. These seeds are resistant to pests and illnesses since they are specifically made to flourish in a variety of environmental settings.
Additionally, by giving cashew plants an effective and focused water supply, contemporary irrigation techniques like drip and sprinkler systems address water management issues. This increases plant growth and preserves water, which makes farming more environmentally friendly. When taken as a whole, these developments in agriculture result in improved cashew nut quality and output, which helps the market grow overall by satisfying rising demand both domestically and internationally.
India Regional Cashew Market Overview:
India is one of the world’s leading producers of cashews. India produces more than 0.8 million tons (MT) of cashews yearly, with a total 0.7 million hectares of land dedicated to the crop, according to the India Brand Equity Foundation (IBEF), 2024. The Directorate of Cashewnut and Cocoa Development, Kochi, estimates that the yearly foreign exchange value of cashews is approximately USD 0.47 billion. About 15 lakh people are employed by it in the agricultural and processing industries. Due mainly to flavored cashew products taking up a larger portion of the retail market, the cashew market in India has experienced a significant shift in consumption patterns in recent years.
Cashew is farmed in Tamil Nadu, Andhra Pradesh, Orissa, and West Bengal on the east coast of India, and in Kerala, Karnataka, Goa, and Maharashtra on the west coast. In addition, cashew is somewhat grown in the Andaman Nicobar Islands, northeastern states (Assam, Manipur, Tripura, Meghalaya, and Nagaland), and Chhattisgarh. However, according to the Press Information Bureau (PIB), 2023, the largest states are Maharashtra, Andhra Pradesh, Odisha, Karnataka, and Tamil Nadu.
In India, the demand for flavored cashews is growing as customers choose healthier snacks due to growing health consciousness. Cashew nuts can be found in India roasted, salted, flavored, and covered with honey, spices, and other substances. There are value-added goods on the market, such as cashew butter, powder, and beverages.
Key Attributes:
|
Report Attribute |
Details |
|
No. of Pages |
80 |
|
Forecast Period |
2023 – 2032 |
|
Estimated Market Value (USD) in 2023 |
$2.18 Billion |
|
Forecasted Market Value (USD) by 2032 |
$3.15 Billion |
|
Compound Annual Growth Rate |
4.1% |
|
Regions Covered |
India |
Company Analysis:
Cashew Production by states – Market breakup in 7 viewpoints:
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Maharashtra
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Andhra Pradesh
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Orissa
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Karnataka
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Tamil Nadu
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Kerala
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Others
Cashew Export by countries – Market breakup in 6 viewpoints:
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UAE
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Netherland
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Japan
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Saudi Arabia
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Vietnam
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Others
For more information about this report visit https://www.researchandmarkets.com/r/46q2oo
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