India Cashew Market Overview
Cashew nuts are edible, kidney-shaped nuts that are shelled and roasted before eating. They are high in protein and oil. Plastics are made using the oil that is collected from the shells as a lubricant. Additionally, cashews are frequently the primary ingredient in savory and sweet recipes, particularly those from Asian cuisine. Moreover, energy bars, mueslis, pastries, chocolates, and ice creams all contain cashews these days. One ounce of cashews contains 622 micrograms of copper, one of the nutrients known to be abundant in cashews and to promote bone health.Cashews are higher in fiber than peanuts and can facilitate weight gain by improving digestive function. Many cashew-based snacks have been introduced by snack producers to satisfy consumer demand for high-value nutrition. One such product is ready-to-drink cashew milk, which acts as a lactose-free milk substitute.
Growth Factors in the India Cashew Industry
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.
India Cashew Market Company Overview
Some of the industry leaders seen in the India Cashew Market Includes Wonderland Foods, Kalbavi Cashews, Britannia Industries Limited, Haldirams.India Cashew Market News
- In January 2024, New Delhi-based engineers and specialists in agriculture created a novel device that makes cashew kernel extraction easier. This will save labor costs and greatly increase their total cashew output by speeding up and lowering the cost of kernel extraction.
- In October 2022, to encourage cashew planting in the state and work toward Goa becoming self-sufficient in cash crop production within the next five to ten years, the Goa Forest Development Corporation suggested a cashew festival to take place in April and May of 2023.
- In March 2022, The Indian Council of Agricultural Research (ICAR)-Directorate of Cashew Research, located in Puttur, Karnataka, has recently constructed a Silver Jubilee building. This building is seen as a new chapter in the Council's vision to empower and benefit the agricultural community while also advancing research on the cashew crop.
Cashew Production by states - Market breakup in 7 viewpoints:
- Maharashtra
- Andhra Pradesh
- Orissa
- Karnataka
- Tamil Nadu
- Kerala
- Others
Cashew Export by countries - Market breakup in 6 viewpoints:
- UAE
- Netherland
- Japan
- Saudi Arabia
- Vietnam
- Others
The key players have been covered from 4 viewpoints:
- Key Person
- Overview
- Recent development
- Revenue Analysis
Company Analysis:
- Wonderland Foods
- Kalbavi Cashews
- Britannia Industries Limited
- Haldirams
Table of Contents
Companies Mentioned
- Wonderland Foods
- Kalbavi Cashews
- Britannia Industries Limited
- Haldirams
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.18 Billion |
| Forecasted Market Value ( USD | $ 3.15 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | India |
| No. of Companies Mentioned | 4 |
