Cashew Nut Processing Equipment Global Market Report 2024

The cashew nut processing equipment market size has grown strongly in recent years. It will grow from $5.34 billion in 2023 to $5.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The expansion observed in the historical period can be ascribed to the increasing consumption of cashew nuts, advancements in quality and safety standards, the globalization of trade, heightened consumer awareness, and the integration of supply chains.

The cashew nut processing equipment market size is expected to see strong growth in the next few years. It will grow to $7.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be linked to the demand from emerging markets, the adoption of automation and Industry 4.0 practices, a focus on sustainability, increased customization and flexibility, and the flourishing growth of e-commerce. Key trends in the forecast period encompass technological advancements, the integration of automation and technology, the implementation of energy-efficient processing, adherence to hygienic processing standards, and customization tailored for small and medium enterprises (SMEs).

The anticipated surge in veganism's popularity is poised to drive the growth of the cashew nut processing equipment market in the coming years. Veganism, encompassing both a lifestyle and dietary choice avoiding animal-derived and dairy products, is a significant factor influencing the demand for cashew nut processing equipment. This equipment is essential for peeling the thin skin layer covering the kernel, which is utilized in various food products. In March 2022, the Plant Based Foods Association reported a 6.2% increase in retail sales of plant-based meals in the United States in 2021, reaching a record market value of $7.4 billion for all plant-based products. The rising popularity of veganism, evidenced by 79 million U.S. households (62%) purchasing plant-based products, up by 61% from 2020, is a key driver for the growth of the cashew nut processing equipment market.

The cashew nut processing equipment market is anticipated to experience substantial growth due to an increasing demand for healthy and nutritious food products. Healthy and nutritious foods are those that supply essential nutrients, contribute to overall well-being, and support optimal bodily functions. Cashew nut processing equipment serves as a crucial tool in shaping nuts for the production of healthy and nutritious food options. For instance, in May 2022, the International Probiotics Association reported that global probiotic consumption rose from $448 billion in 2019 to $476 billion in 2021, indicating a significant surge in the demand for health-promoting products. Consequently, the heightened interest in healthy and nutritious food products is a key driver for the expansion of the cashew nut processing equipment market.

The high costs associated with equipment are expected to impede the growth of the cashew nut processing equipment market during the forecast period. Elevated equipment costs contribute to higher processing expenses, limiting options for processing activities. The expensive nature of cashew nut processing equipment may hinder adoption by some organizations or individuals. For example, according to Alibaba.com, the cost of cashew nut processing equipment ranges from $30,000.00 to $80,000.00, emphasizing the potential limitations imposed by high equipment costs on market growth.

Major companies in the cashew nut processing equipment market are concentrating on the development of innovative cashew processing plants, such as automatic cashew processing plants, to maintain a competitive advantage. Automatic cashew processing plants reduce the reliance on manual labor for processing raw cashew nuts into finished cashew kernels. In October 2021, Mekong Tech Group, a Vietnam-based manufacturer, launched VN-2022, a modern automatic cashew processing plant that significantly reduces the labor required for cashew shelling. The plant utilizes advanced control systems such as SCADA and ERP to connect machine systems, incorporating the latest technology available in Vietnam.

In April 2023, Monchy Food Co., a Netherlands-based company specializing in processing and packing nuts, acquired the cashew processing plant of Amama Farms Ltd. in Tandahimba, Tanzania, for an undisclosed amount. This strategic acquisition is a significant move for Monchy Food Co. as it expands its operations, particularly in processing and packing nuts, seeds, dried fruits, and superfoods. Amama Farms Ltd., based in Tanzania, operates a cashew processing plant.

Major companies operating in the cashew nut processing equipment market report are Tomra Systems ASA, Rotex Manufacturers & Engineers Pvt. Ltd., A/S Cimbria, GELGOOG Machinery Inc., Ss Engineering Works Limited, Abhay Engineering Private Limited, APS Industries Limited, Italiya International Food Machinery, Jem Equipment Corp., Krishna Industries Private Limited, Oltremare S.R.L., Oscar Cashew Tech Private Limited, Rami International Limited, Sree Rama Technology Industries (P) Ltd., AC Horn Manufacturing Company, Chirag Gopalbhai Chhatrala, CNSL Privet Limited, Divyesh Vyas & Co., Gayathri Industrial Products Limited Liability Partnership, GI Technology Private Limited, Locus Exim Private Limited, Mastana Jogi International Private Limited, MK Tech Engineering Pte. Ltd., Muskan Equipments Co., Parivartan Kaju House, Thai Cashew International Co. Ltd.

Asia-Pacific was the largest region in the cashew nut processing equipment market in 2023. The regions covered in the cashew nut processing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the cashew nut processing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cashew nut processing equipment market consists of sales of cashew nut cutting machines, slicing machines, and packing machines. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary categories of cashew nut processing equipment include roasting equipment, peeling equipment, drying equipment, shelling equipment, sorting and grading equipment, and other specialized tools. Roasting equipment specifically involves machinery tailored for the controlled application of heat to various foods, aiming to enhance flavor and texture. Operations can vary between automatic and semi-automatic modes, catering to a diverse range of end-users, including cashew nut processing plants and commercial kitchens.

The cashew nut processing equipment market research report is one of a series of new reports that provides cashew nut processing equipment market statistics, including cashew nut processing equipment industry global market size, regional shares, competitors with a cashew nut processing equipment market share, detailed cashew nut processing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the cashew nut processing equipment industry. This cashew nut processing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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