Cashew kernels have evolved from a regional delicacy into one of the most traded tree nuts worldwide. Over the past decade, the global cashew industry has witnessed strong growth driven by rising health awareness, the popularity of plant-based diets, and the expanding use of cashew ingredients in food manufacturing. In this article, Tamila Agrifood explores the key market trends, demand forecast, and strategic insights shaping the global trade in cashew kernels through 2030.

1. Market Overview: A Growing Global Appetite for Cashews

The global cashew kernel market was valued at over USD 8 billion in 2024 and is expected to reach USD 11.5 billion by 2030, growing at a CAGR of around 5.5%. Major demand centers include the European Union, United States, Middle East, China, and Japan.

Consumers today view cashews not just as snacks, but as a nutritious and premium ingredient in vegan dairy alternatives, confectionery, bakery, and ready-to-eat meals.

2. Key Demand Drivers

•    Health & Nutrition Awareness:

Cashews are rich in protein, healthy fats, magnesium, and antioxidants, making them a favorite among fitness-conscious consumers and vegans.

•    Plant-Based Revolution:

Cashew milk, cheese, and butter have become essential in the growing vegan and lactose-free food sectors.

•    Convenience Snacks:

The rise of healthy snacking in urban markets continues to fuel the demand for roasted and flavored cashew kernels.

•    Food Industry Demand:

Food manufacturers are increasingly using cashew powder, paste, and broken grades as cost-effective ingredients in confectionery and bakery industries.

3. Top Importing & Exporting Countries

•    Leading Exporters:

Vietnam, India, Ivory Coast, Tanzania, and Nigeria dominate global exports, together accounting for more than 85% of supply.

•    Major Importers:

The EU (especially Germany and the Netherlands), the USA, UAE, Saudi Arabia, China, and Japan remain the biggest buyers.

Interestingly, the Middle East has become a fast-growing re-export hub, importing bulk cashew kernels for repackaging and distribution across Asia and Africa.

4. Price Trends & Market Volatility

Cashew kernel prices fluctuate based on:

•    Global crop yields (mainly in Africa and India),

•    Processing capacity in Vietnam and India,

•    Freight and logistics costs,

•    Currency fluctuations (USD and local African currencies).

Average prices for W320 grade have remained between USD 4,600 – 5,200 per ton FOB in 2024, with slight upward pressure expected in 2025 due to tightening supply and growing demand in health food segments.

5. Future Outlook: What to Expect by 2030

•    Sustainability & Traceability:

Importers are prioritizing certified and ethically sourced cashews (Fairtrade, Organic, and HACCP).

•    Processing Shifts to Africa:

African countries are investing heavily in local processing plants to add value before export.

•    Product Innovation:

Expect greater diversification — from cashew protein powders to cashew-based desserts and beverages.

•    Digital Trade Platforms:

B2B portals and direct procurement models are simplifying international transactions and improving price transparency.

6. Strategic Advice for Buyers & Investors

For importers and distributors seeking to establish long-term cashew supply partnerships, consistency and certification are key. Establishing framework agreements with reliable exporters can help secure stable prices, ensure continuous supply, and reduce exposure to market volatility.

At Tamila Agrifood, we support clients with verified suppliers, bulk logistics solutions, and transparent quality testing to ensure every consignment meets international standards.

Conclusion

The global demand for cashew kernels shows no signs of slowing down. As consumers continue to prioritize nutrition, sustainability, and premium quality, the market offers lucrative opportunities for importers, wholesalers, and food manufacturers alike. By understanding emerging trends and aligning sourcing strategies accordingly, businesses can stay ahead in this highly competitive yet rewarding industry.

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