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World - Cashew Nuts - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Sep 16, 2020

Featuring the Strong Processing Industry, Vietnam and India Dominate Global Raw Cashew Nut Market

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IndexBox has just published a new report: 'World - Cashew Nuts - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The global cashew nut market expanded significantly to $14.9B in 2019, growing by 5.6% against the previous year. This figure reflects the total revenues of producers and importers of raw (e.g. in-shell) cashew nut (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). 

The market value increased at an average annual rate of +4.1% over the period from 2013 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2019 and is likely to continue growing in the medium term.

Consumption by Country

The countries with the highest volumes of cashew nut consumption in 2019 were Viet Nam (2.2M tonnes), India (1.5M tonnes) and the Philippines (243K tonnes), together accounting for 74% of global consumption. Mali, Guinea-Bissau, Benin, Brazil, Cote d'Ivoire, Mozambique and Indonesia lagged somewhat behind, together comprising a further 18%.

Viet Nam and India constitute the two global centers of cashew nut processing. They do not only grow the nuts at their own but also source raw cashew nuts from producing countries in Africa and other countries. Thus, Viet Nam ($772M) and India ($1.1B) constituted the largest raw cashew nut importers in 2019, together comprising 96% of total import. Afterward, they process the nuts and then supply the global market with shelled cashew nuts, both roasted and unroasted. 

From 2013 to 2019, the most notable rate of growth in terms of cashew nut consumption, amongst the main consuming countries, was attained by Mali, while cashew nut consumption for the other global leaders experienced more modest paces of growth.

In value terms, Viet Nam ($8.2B) led the market, alone. The second position in the ranking was occupied by India ($3.3B). It was followed by Brazil.

In 2019, the highest levels of cashew nut per capita consumption was registered in Guinea-Bissau (81 kg per person), followed by Viet Nam (23 kg per person), Benin (13 kg per person) and Mali (9.83 kg per person), while the world average per capita consumption of cashew nut was estimated at 0.69 kg per person.

Market Forecast to 2030

Taking into account the closure of the HoReCa sector worldwide due to the pandemic, a decrease in consumer incomes and possible disruptions in the work of international supply chains, global cashew nut consumption is expected to stagnate in 2020. Afterward, the start of gradual market growth is expected as the global economy recovers from the effects of the pandemic. The market is forecast to expand with an anticipated CAGR of +1.3% for the period from 2019 to 2030, which is projected to bring the market volume to 6.2M tonnes by the end of 2030.

Production

In 2019, global cashew nut production amounted to 5.4M tonnes, picking up by 4.4% compared with the previous year. The total output volume increased at an average annual rate of +4.3% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global production peaked in 2019 and is likely to see steady growth in the near future. The generally positive trend in terms output was largely conditioned by moderate growth of the harvested area and a pronounced expansion in yield figures.

Production by Country

The countries with the highest volumes of cashew nut production in 2019 were Viet Nam (1.5M tonnes), India (803K tonnes) and Cote d'Ivoire (747K tonnes), together comprising 56% of global production. Tanzania, the Philippines, Ghana, Benin, Mali, Guinea-Bissau, Guinea, Brazil and Indonesia lagged somewhat behind, together comprising a further 33%.

From 2013 to 2019, the most notable rate of growth in terms of cashew nut production, amongst the main producing countries, was attained by Mali, while cashew nut production for the other global leaders experienced more modest paces of growth.

Harvested Area

In 2019, the total area harvested in terms of cashew nuts production worldwide amounted to 6.4M ha, with an increase of 3.2% on the previous year's figure. The harvested area increased at an average annual rate of +1.2% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. 

Yield

In 2019, the global average cashew nut yield stood at 847 kg per ha, remaining stable against 2018. The yield figure increased at an average annual rate of +3.1% from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. 

Exports

After six years of growth, overseas shipments of cashew nuts decreased by -0.9% to 1.5M tonnes in 2019. The total export volume increased at an average annual rate of +4.7% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Global exports peaked at 1.6M tonnes in 2018, and then declined slightly in the following year. In value terms, cashew nut exports fell to $1.9B (IndexBox estimates) in 2019. 

Exports by Country

Cote d'Ivoire represented the major exporter of raw cashew nuts in the world, with the volume of exports recording 609K tonnes, which was near 39% of total exports in 2019. Ghana (236K tonnes) held a 15% share (based on tonnes) of total exports, which put it in second place, followed by Tanzania (13%), Guinea (9.7%), Benin (6%) and Nigeria (4.8%). Indonesia (49K tonnes) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of +6.1% from 2013 to 2019. At the same time, Guinea (+29.6%), Ghana (+5.7%), Tanzania (+5.4%) and Nigeria (+4.1%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in the world, with a CAGR of +29.6% from 2013-2019. Indonesia experienced a relatively flat trend pattern. By contrast, Benin (-3.7%) illustrated a downward trend over the same period. 

In value terms, Cote d'Ivoire ($731M) remains the largest cashew nut supplier worldwide, comprising 38% of global exports. The second position in the ranking was occupied by Guinea ($251M), with a 13% share of global exports. It was followed by Tanzania, with a 13% share.

Export Prices by Country

The average cashew nut export price stood at $1,246 per tonne in 2019, which is down by -13.7% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2013 to 2019: its price increased at an average annual rate of +5.1% over the last six years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average export price increased by 18% against the previous year. As a result, export price attained the peak level of $1,530 per tonne. From 2018 to 2019, the growth in terms of the average export prices failed to regain momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Indonesia ($1,997 per tonne), while Benin ($756 per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Guinea, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Product coverage:
• FCL 217 - Cashew nuts

This report provides an in-depth analysis of the global cashew nut market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption, By Country, 2015–2019
Table 5:
Production, In Physical Terms, By Country, 2007–2019
Table 6:
Harvested Area, By Country, 2007-2019
Table 7:
Yield, By Country, 2007-2019
Table 8:
Imports, In Physical Terms, By Country, 2007–2019
Table 9:
Imports, In Value Terms, By Country, 2007–2019
Table 10:
Import Prices, By Country Of Destination, 2007–2019
Table 11:
Exports, In Physical Terms, By Country, 2007–2019
Table 12:
Exports, In Value Terms, By Country, 2007–2019
Table 13:
Export Prices, By Country Of Origin, 2007–2019
Table 14:
Producer Prices, By Major Producing Country, 2019
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Consumption, By Country, 2019
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2019
Figure 18:
Production, In Value Terms, 2007–2019
Figure 19:
Area Harvested, 2007–2019
Figure 20:
Yield, 2007–2019
Figure 21:
Production, By Country, 2019
Figure 22:
Production, In Physical Terms, By Country, 2007–2019
Figure 23:
Harvested Area, By Country, 2019
Figure 24:
Harvested Area, By Country, 2007-2019
Figure 25:
Yield, By Country, 2007-2019
Figure 26:
Imports, In Physical Terms, 2007–2019
Figure 27:
Imports, In Value Terms, 2007–2019
Figure 28:
Imports, In Physical Terms, By Country, 2019
Figure 29:
Imports, In Physical Terms, By Country, 2007–2019
Figure 30:
Imports, In Value Terms, By Country, 2007–2019
Figure 31:
Import Prices, By Country, 2007–2019
Figure 32:
Exports, In Physical Terms, 2007–2019
Figure 33:
Exports, In Value Terms, 2007–2019
Figure 34:
Exports, In Physical Terms, By Country, 2019
Figure 35:
Exports, In Physical Terms, By Country, 2007–2019
Figure 36:
Exports, In Value Terms, By Country, 2007–2019
Figure 37:
Export Prices, 2007–2019

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