Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) — The “Cashews Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The burgeoning Cashews Market is poised to reach a valuation of US$15.597 billion by 2028, steered by shifting consumer preferences towards plant-based nutrition and sustained governmental support. A recently published analysis provides insightful forecasts, highlighting surging demand within the bakery, confectionery, and snacks segment as well as significant geopolitical contributions.
The report underscores a consistent rise in the inclination towards vegan and plant-based diets as a fundamental catalyst invigorating the market for cashews. Particularly prominent among the millennial and health-aware demographics, the accessibility of an increasing gamut of cashew-infused products is capturing the market’s attention and appetites.
Within this context, governmental initiatives have illuminated pathways for potential market expansion. Notably, Invest India’s keen focus on fortifying local products has bolstered the cashew and feni industries remarkably, as part of the One District One Product (ODOP) Sampark program in Goa.
Corporate investment trends signify a robust confidence in the market’s trajectory, highlighted by Julius Berger’s establishment of an ultra-modern processing facility in Lagos. This strategic move not only cements the firm’s venture into agrarian produce processing but also enhances Nigeria’s capacity in cashew processing.
A significant analysis section in the report delves into the escalating production and imports of cashews, particularly emphasizing developed regions’ appetite for these nuts. The CBI Ministry of Foreign Affairs records illustrate an impressive import figure reaching 215 thousand tonnes in 2021. Predominant European Union countries fueling these statistics include Germany, the United Kingdom, and the Netherlands among others.
India’s pivotal role in the global cashews landscape is accentuated, commanding a staggering 25.52% stake in worldwide production according to the International Society for Horticultural Science. The report validates the Indian market’s magnitude through data from the National Horticulture Board, delineating an upward production trend.
India stands out not only for production prowess but also as a key export player. The report’s insights into Indian Trade Portal statistics showcase a swift export ascension, integrating India more deeply within the global cashew network.
The report delineates the market segmentation elaborately, based on the distribution channel and targeted industry verticals, including the geography that spans across North America, Europe, and Asia Pacific, among other significant regions.
Understanding the market’s fragmentation is paramount for strategic positioning, and stakeholders are likely to find the in-depth analysis of distribution channels—both online and offline—a vital part of their approach. Additionally, sectors like dairy products, flavored drinks, and breakfast cereals also grace the report’s focus, showcasing their ties to the cashew market’s swelling.
Highlights of Cashews Market Dynamics
- Projected Impact: A comprehensive set of dynamics provides strategic intelligence tailored to the sector-specific consequences within the industry.
- Consumer Trends: Deep dive into the consumer trends propelling the cashew products’ appeal.
- Governmental Influence: Elucidation on how governmental initiatives can augment market prospects, particularly in prolific regions like India.
- Incremental Growth Factors: Evaluative outlook on how burgeoning export and production volumes contribute to the cumulative growth projections.
This data-rich publication provides a granular lens through which to forecast trends, offering tactical insights for businesses and investors seeking informed approaches within the promising cashews market nexus.
|No. of Pages
|2021 – 2028
|Estimated Market Value (USD) in 2021
|Forecasted Market Value (USD) by 2028
|Compound Annual Growth Rate
By Distribution Channel
By End-User Industry
- Bakery and Confectionary
- Breakfast Cereals
- Dairy Products and Flavored Drinks
- Western India Cashew Company
- Olam International Limited
- Bismi Cashew Company
- Siva Foods Impex Private Limited
- PT. Ruby Privatindo
- Delicious Cashew Co
- Wonderland Foods
- Royal Dry Fruits Pvt Ltd.
- Nutty Yogi
For more information about this report visit https://www.researchandmarkets.com/r/dddqmh
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