South America Cashew Market By Form (Whole, Roasted, Powder), By Usage (Dairy Products, Snacks, Bars), By Distribution Channels (Hypermarkets, Supermarkets, Retailers), And Region For 2024-2031

South America Cashew Market Valuation – 2024-2031

The enormous expansion of the South American cashew market. Consumer demand is increasing as people become more aware of the nutritional benefits of cashew nuts, such as their high protein, fiber, and healthy fat content. The growing popularity of plant-based diets and veganism is increasing the demand for cashew nuts as a dairy-free option. The market size surpass USD 553.47 Billion valued in 2023 to reach a valuation of around USD 831.52 Billion by 2031.

The rising food processing industry, particularly in the manufacturing of snacks, confectionery, and bread items, is driving up demand for cashews. The growing middle-class population in South America, combined with rising disposable incomes, continues to drive market growth. The rising demand for cost-effective and efficient South America cashew is enabling the market grow at a CAGR of 5.2% from 2024 to 2031.

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South America Cashew Market: Definition/Overview

The South American cashew involves the production and trade of cashew nuts, which are largely grown in countries such as Brazil. Cashews are the seeds from the cashew apple, a tropical fruit. Cashew production is important in this region due to the excellent climate, which allows for the growth of high-quality cashew cultivars. Nuts are high in nutrients, including healthy fats, proteins, and important minerals, making them a popular choice in the health food industry. The cashew sector is also important to the economies of South American countries, creating jobs in rural areas and contributing to local livelihoods.

South American cashews appear potential, owing to rising global demand for healthy snacking and plant-based cuisine. As consumer preferences shift towards organic and sustainably sourced products, South American cashew growers can increase their market position by implementing sustainable farming practices. Improvements in processing and packaging can assist satisfy international quality standards and consumer expectations. With continued investments in research and development, the region can increase yield and resilience to climate change, establishing itself as a prominent player in the global cashew market.

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Will the Growing Health-Conscious Consumer Base Drive the South America Cashew Market?

The expanding health-conscious customer base will have a substantial impact on the South American cashew market. Growing awareness of cashews’ health benefits, combined with a significant increase in organic food consumption—up 34% in Brazil from 2019 to 2022—indicates a trend toward healthy eating patterns. Cashews, a popular tree nut, fit into this trend, which is bolstered by Brazil’s broader health food sector, which is expected to reach USD 35.4 Billion in 2023, with nuts and seeds accounting for 12% of that value. This reveals a definite customer preference for healthy, health-conscious products, which boosts demand for cashews in the region.

Rising export demand will significantly expand the South American cashew market. Brazil’s growing production capacity is an essential factor, with cashew kernel exports expected to reach 14,000 metric tons in 2022, up 28% from 2020, according to the Brazilian Association of Nut Exporters (ABE). Competitive prices and a commitment to high-quality standards are also important factors, that make South American cashews desirable to customers, particularly in North America and Europe.

Will the Price Fluctuations Hamper the Growth of the South America Cashew Market?

Price changes may hinder the expansion of the South American cashew market. These swings are frequently caused by a variety of variables, including changes in global supply and demand, severe weather conditions that disrupt harvests, and adjustments in production costs. When prices fluctuate, it generates uncertainty for both producers and consumers, resulting in reduced investment in agriculture and processing.

The seasonal nature of cashew production might hinder the growth of the South American cashew market. Cashew trees have distinct flowering and harvesting seasons, which often result in surpluses during harvest seasons and scarcity in the off-season. This seasonal unpredictability might make it difficult to maintain stable supply throughout the year, potentially leading to price volatility and decreased market stability. Processors and exporters may struggle to meet year-round demand from global markets, resulting in missed sales opportunities and reduced international competitiveness.

Category-Wise Acumens

How will the Natural Texture and Flavor Raise the Whole Cashews Segment for the South America Cashew Market?

The whole segment is currently dominating the South America cashew market. Whole cashews’ inherent texture and flavor will fuel the South American cashew market. Cashews are valued for their creamy, buttery flavor and enticing crunch, making them a popular choice among customers looking for nutritional snacks and components for a variety of culinary applications. The growing trend toward clean label products and natural foods has raised demand for whole cashews, as customers seek out less processed, nutritious snacks.

The shift from snacking to baking and confectionery will greatly impact the entire cashew section of the South American cashew market. Whole cashews are becoming increasingly popular as consumers include more healthy foods into their diets, not just as a nutritious snack but also as a flexible ingredient in baking and confectionary products. Their rich flavor and crispy texture enrich a wide range of recipes, including baked goods, chocolates, and granola bars.

How Does the Nutritional Value Fuel the Snacks & Bars Segment for the South America Cashew Market?

The snacks & bars segment is the fastest-growing segment in the South America Cashew Market. The nutritional value of cashews will propel the snacks and bars section of the South American cashew market. Cashews are high in key elements such as healthy fats, protein, vitamins, and minerals, making them an appealing choice for health-conscious consumers looking for healthful snack alternatives. As the desire for healthy snacking options grows, manufacturers are adding whole cashews into a variety of snack products and energy bars, capitalizing on their image as a nutritious component.

The South American cashew market’s snacks and bars segment will be driven by rising customer demand for healthy snacks. As people grow more health-conscious, they are actively looking for nutritional snack options that are low in added sugars yet high in protein and good fats. Cashews, recognized for their high nutrient content, are an ideal fit for this demand as they give a tasty and healthy alternative to traditional snack foods. This trend is fueled by the development of on-the-go snacking and the appeal of clean-label products, encouraging manufacturers to produce new snack bars with cashews as a significant ingredient.

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Country/Region-wise Acumens

Will the Established Infrastructure Accelerate the Brazil’s for the South America Cashew Marke?

Brazil is the dominant player in the South America Cashew Market. The developed infrastructure will propel Brazil’s expansion into the South American cashew market. Brazil’s excellent infrastructure for cashew farming and processing solidifies its position as the region’s main producer, with a processing capacity of 150,000 metric tons in 2023, with 85% of that capacity located in renovated facilities in the northeast. The growth of designated agricultural areas to 450,000 hectares, together with the backing of over 300 registered processing facilities, boosts output even further. Government initiatives, such as the National Program for Strengthening Family Agriculture (PRONAF), have dedicated USD 125 million to infrastructure improvements, with a 40% increase in processing efficiency expected by 2025.

Brazil’s position as the leading producer will fuel its expansion into the South American cashew market. Brazil’s supremacy is highlighted by a 23% rise in output from 2020 to 2023, primarily due to contributions from states such as Ceará, Piauí, and Rio Grande do Norte, with a total production of 140,000 metric tons in 2023, 92% of which comes from the Northeast region. The Ministry of Agriculture, Livestock, and Supply (MAPA) expects production to reach 180,000 metric tons by 2025, led by high-yield dwarf cashew varieties that increase productivity by 45%. Furthermore, with over 280,000 people working in the cashew business and a production value of USD 500 million, Brazil’s leadership has attracted USD 150 million in foreign direct investment in 2023, to increase production by 30% efficiency by 2026, further solidifying its market position.

Will the Government Support Propel the Peru for the South America Cashew Market?

Peru is emerging as a rapidly growing region in the South America Cashew Market. Government support is expected to propel Peru’s position in the South American cashew market, greatly increasing agricultural exports. Initiatives like as the “Sierra y Selva Alta Exportadora” program have connected over 1,200 small-scale farmers to foreign markets, with production climbing from 2,800 metric tons in 2019 to 3,400 metric tons in 2021 and export values reaching USD 15.2 million in 2022. Three additional processing facilities have been established, and production is expected to expand at an annual rate of 8-10%. The expanding global need for plant-based proteins will allow Peru to capitalize on its organic cashew exports, which have already increased in value by 35% between 2020 and 2022.

The expanding export market will help Peru’s standing in the South American cashew market. The country’s strategic focus on value-added products resulted in a 32% rise in exports between 2020 and 2022, with processed cashew exports totaling USD 18.5 million. Roasted and flavored cashews accounted for 45% of total shipments in 2022, indicating strong demand in key countries such as the United States and Europe. Organic certified cashews, which fetch a higher price, accounted for 30% of export volume. Peru’s high export growth, projected to reach USD 30 million by 2025 and a compound annual growth rate of 12%, is bolstered by advantageous trade agreements and continued investments in processing facilities.

Competitive Landscape

Examining the competitive landscape of the South America Cashew Market is considered crucial for gaining insights into the industry’s dynamics. This research aims to analyze the competitive landscape, focusing on key players, market trends, innovations, and strategies. By conducting this analysis, valuable insights will be provided to industry stakeholders, assisting them in effectively navigating the competitive environment and seizing emerging opportunities. Understanding the competitive landscape will enable stakeholders to make informed decisions, adapt to market trends, and develop strategies to enhance their market position and competitiveness in the South America Cashew Market.

Some of the prominent players operating in the South America Cashew market include:

Alphonsa Cashew Industries, Bata Food, CBL Natural Foods, Kalbavi Cashews, Lafooco, Tierra Farm, Shivam Cashew Industry, Odelia Foods, Sahale Snacks, Royal Dry Fruits Pvt Ltd, Caju Brasil, Nuts of the Amazon.

Latest Developments:

• In June 2024, AgDevCo, an agriculture-focused investor, announced the specifics of its most recent investment in Cashew Coast, a rapidly expanding cashew nut processing company in Cote d’Ivoire. Cashew Coast employs 750 people and gets its raw materials from more than 7,000 smallholder growers.
• In April 2024, Tanzania, the Ivory Coast, and Cambodia are the top three raw cashew nut importers in Vietnam. The volume of commodities imported from Cambodia has been increasing; in March alone, 386,000 tons were brought in for USD 449 million. While import turnover increased by 40%, the quantity of cashews imported increased by 65.6%.

Report Scope

South America Cashew Market, By Category

Form:

• Whole
• Roasted
• Powder
• Paste
• Splits

Usage:

• Dairy Products
• Confectionaries
• Bakery Products
• Snacks
• Bars
• Cereals
• Desserts and Beverages

Distribution Channels:

• Hypermarkets
• Supermarkets
• Specialist Stores
• Convenience Stores
• Retailers

Region:

• Argentina
• Brazil
• Chile
• Colombia
• Peru

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
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