The Thriving Cashew Nut Value Chain
The global cashew market witnessed substantial growth in 2022, with its size soaring to a staggering USD 7 billion. Forecasts indicate a promising future, projecting a significant increase to an estimated USD 10.5 billion by 2031. This trajectory demonstrates a remarkable Compound Annual Growth Rate (CAGR) of 4.6% during the 2022-2031 period.
Cashew Nuts: A Nutritional Powerhouse
Cashew nuts, known for their distinctive kidney shape, boast rich reserves of oil and protein. Before consumption, they are meticulously roasted and shelled, unveiling their delectable taste and nutritional prowess.
Historically, cashew nuts have served as a cherished snack. However, their versatility extends far beyond mere snacking. These flavorful nuts find their place as a fundamental ingredient in a myriad of both sweet and savory dishes, particularly within the vibrant tapestry of Asian cuisine. Furthermore, cashews grace the recipes of mueslis, energy bars, cookies, chocolates, and even ice creams.
Embracing Nutritional Excellence
Cashews also shine as nutritional gems, offering a bountiful supply of essential minerals such as copper. This mineral plays a pivotal role in bolstering bone health.
The Rise of Plant-Based Diets
In a world where dietary choices are undergoing a transformation, plant-based diets, especially veganism, are gaining widespread recognition. Those embracing a vegan lifestyle seek alternative sources of protein, steering clear of animal-derived options. This shift has led to a burgeoning demand for nuts and nut-infused foods, an upward trend that shows no signs of waning.
Global Production Powerhouses
When it comes to cashew nut production, Ivory Coast, often referred to as Côte d’Ivoire, reigns supreme, contributing a substantial 43% to the total global production. India and Vietnam closely follow, establishing themselves as prominent players in the industry.
Meanwhile, several other African nations make noteworthy contributions to cashew nut production, including Kenya, Tanzania, Nigeria, Benin, Guinea-Bissau, Mozambique, and Ghana.