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India Cashew Market Analysis

India Cashew Market was US$ 2,186.7 million in 2023 and will grow US$ 3,150.2 million by 2032, with a CAGR of 4.14% from 2024 to 2032. The demand for plain or salted cashews is driven by the diversity of beverage applications that can be used to eat them at home, which is why they are so popular worldwide. A primary driver of the market is the growing usage of plain cashew in Indian cooking, particularly in sweets.

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:

1. Maharashtra
2. Andhra Pradesh
3. Orissa
4. Karnataka
5. Tamil Nadu
6. Kerala
7. Others

Cashew Export by countries – Market breakup in 6 viewpoints:

1. UAE
2. Netherland
3. Japan
4. Saudi Arabia
5. Vietnam
6. Others

All the Key players have been covered from 4 Viewpoints:

• Key Person
• Overview
• Recent development
• Revenue Analysis

Company Analysis:

1. Wonderland Foods
2. Kalbavi Cashews
3. Britannia Industries Limited
4. Haldirams