Global Cashew Kernel Market Outlook
According to a new report by Expert Market Research titled “Global Cashew Kernel Market Size, Share, Analysis, Report, Demand, Trends, Forecast 2023-2028″, the global cashew kernel market is projected to grow at a CAGR of 4.80% between 2023 and 2028. Aided by the rising demand for healthy snack options and the growing applications of cashew kernels in various food sectors, the market is expected to grow significantly by 2028.
Cashew kernels, derived from cashew nuts, are esteemed for their mildly sweet taste, pleasing texture, and a rich supply of essential nutrients. Enriched with beneficial minerals, vitamins, dietary fibre, and heart-healthy fats, they are a favoured choice for promoting cardiovascular health, supporting weight management, and enhancing general wellbeing. Beyond their consummation as snacks, cashew kernels are also employed in myriad culinary applications and serve as a fundamental ingredient for vegan dairy substitutes.
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The ascendant consumer preference for nutritious snacks is a primary propellant for the global cashew kernel market growth. The surging health consciousness among consumers, coupled with the recognition of balanced diet’s significance, has led to a pronounced shift towards healthier snack alternatives, thereby augmenting the demand for cashew kernels. Additionally, the prevailing trend of fitness and wellness has further magnified this demand, as cashew kernels offer an ideal source of energy for those leading active lifestyles.
The diversifying applications of cashew kernels in the food industry also significantly boost the cashew kernel market expansion. In the confectionery sector, they are a sought-after ingredient for chocolates, baked goods, and sweets. The culinary sector integrates cashew kernels in a variety of preparations, ranging from salads and curries to stir-fries. Particularly noteworthy is the surge in veganism and the popularity of plant-based diets, where cashew kernels have emerged as a crucial ingredient in formulating dairy-free alternatives such as cheese, milk, and cream, thereby fuelling the cashew kernel market.
Furthermore, the flourishing retail sector, particularly the expansion of organised retail and the rising trend of online grocery shopping, has enhanced the visibility and accessibility of cashew kernels, thereby positively influencing the cashew kernel market development. These platforms offer convenience and an extensive variety, motivating more consumers to incorporate cashew kernels into their dietary patterns.
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Global Cashew Kernel Market Segmentation
The market can be divided based on grade and region.
Market Breakup by Grade
- White Wholes
- Scorched Wholes
- Dessert Wholes
- White Pieces
- Scorched Pieces
- Dessert Pieces
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global cashew kernel companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Alphonsa Cashew Industries
- Nutsco Inc.
- DVK Group
- Olam International Limited
- Prime Nuts FZE
- Vietnam Cashew Processing Co.
- Bismi Cashew Company
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