The Indian Cashew market is projected to register a CAGR of 4.0% during the forecast period (2022-2027).
Globally, India witnesses the largest consumption of cashew. However, due to COVID-19, the price of cashew fell to the lowest it has been in the last 10-12 years. The value addition activities were affected negatively as a disrupted distribution channel tends to lower the value of end-products of cashew nuts in the market. The extended lockdown has hit consumption in India as well as demand. The Cashew Export Promotion Council of India (CEPCI) has urged the Union Government to allocate sufficient funds and put forward a few schemes to increase the production of cashews in the country; this initiative is projected to drive the cashew market.
India is the major cashew growing country in Asia-Pacific, positioned as the largest producer of raw cashew nut (RCN) globally, with 550,000 metric tons of cashew production per annum, which covers an area of 1.02 million hectares. In India, cashew is grown in the peninsular areas of Kerala, Karnataka, Goa and Maharashtra, Tamil Nadu, Andhra Pradesh, Orissa, and West Bengal. Among these, Kerala is the largest producing state.
India has been the top exporter in the global shelled cashew trade, accounting for more than 15% of the global cashew export in the last four years. India exports cashew kernels to over 60 countries. Its major markets are the United States, the Netherlands, Japan, Spain, France, Germany, the United Kingdom, as well as the Middle Eastern countries such as the United Arab Emirates and Saudi Arabia. With the increasing demand for cashew globally, exports are increasing from India. The Cashew Export Promotion Council of India (CEPCI), which serves as an intermediary between importers of cashew kernels and exporters, has urged the Union government to allocate sufficient funds and put forward a few schemes to increase the production of cashews. This factor is helping to enhance the production capacity of cashew in India. As the cashew market in India is export-oriented, there is an immense opportunity for growth of the market.
In India, cashew was cultivated on a total of 1.02 million hectares of land, with a productivity of 706 kg/ha as of 2020. The major cashew growing Indian states are Maharashtra, Andhra Pradesh, Orissa, Kerala, and Karnataka. The approximate raw cashew nut requirement of the country by 2050 is estimated to be 4-5 million metric tons or more. Goa has about 30-odd units that are equally divided into large and small production units of cashew. While there are some cashew exporters, like Ajanta Industries and Zantye Cashew, most of the established processing units prefer to cater to the domestic market. Thus, processing units have been increasing due to the increased domestic production.
In order to keep up with the rise in the domestic and overseas demand for cashew (the country is the largest cashew consumer worldwide and second-largest exporter of cashew kernels), Indian companies have recently invested in the purchase of large plantations and financing and management of processing facilities in Africa.
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Globally, India witnesses the largest consumption of cashew. However, due to COVID-19, the price of cashew fell to the lowest it has been in the last 10-12 years. The value addition activities were affected negatively as a disrupted distribution channel tends to lower the value of end-products of cashew nuts in the market. The extended lockdown has hit consumption in India as well as demand. The Cashew Export Promotion Council of India (CEPCI) has urged the Union Government to allocate sufficient funds and put forward a few schemes to increase the production of cashews in the country; this initiative is projected to drive the cashew market.
India is the major cashew growing country in Asia-Pacific, positioned as the largest producer of raw cashew nut (RCN) globally, with 550,000 metric tons of cashew production per annum, which covers an area of 1.02 million hectares. In India, cashew is grown in the peninsular areas of Kerala, Karnataka, Goa and Maharashtra, Tamil Nadu, Andhra Pradesh, Orissa, and West Bengal. Among these, Kerala is the largest producing state.
Key Market Trends
Increasing Exports of Shelled Cashew
India has been the top exporter in the global shelled cashew trade, accounting for more than 15% of the global cashew export in the last four years. India exports cashew kernels to over 60 countries. Its major markets are the United States, the Netherlands, Japan, Spain, France, Germany, the United Kingdom, as well as the Middle Eastern countries such as the United Arab Emirates and Saudi Arabia. With the increasing demand for cashew globally, exports are increasing from India. The Cashew Export Promotion Council of India (CEPCI), which serves as an intermediary between importers of cashew kernels and exporters, has urged the Union government to allocate sufficient funds and put forward a few schemes to increase the production of cashews. This factor is helping to enhance the production capacity of cashew in India. As the cashew market in India is export-oriented, there is an immense opportunity for growth of the market.
Increase in Production Capacities
In India, cashew was cultivated on a total of 1.02 million hectares of land, with a productivity of 706 kg/ha as of 2020. The major cashew growing Indian states are Maharashtra, Andhra Pradesh, Orissa, Kerala, and Karnataka. The approximate raw cashew nut requirement of the country by 2050 is estimated to be 4-5 million metric tons or more. Goa has about 30-odd units that are equally divided into large and small production units of cashew. While there are some cashew exporters, like Ajanta Industries and Zantye Cashew, most of the established processing units prefer to cater to the domestic market. Thus, processing units have been increasing due to the increased domestic production.
In order to keep up with the rise in the domestic and overseas demand for cashew (the country is the largest cashew consumer worldwide and second-largest exporter of cashew kernels), Indian companies have recently invested in the purchase of large plantations and financing and management of processing facilities in Africa.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 Regional Analysis
Methodology
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