United States Cashew Market – Growth, Trends, Covid-19 Impact, And Forecasts (2021 – 2026)

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The United States cashew market is estimated to register a CAGR of 3.1% during the forecast period (2021-2026).

COVID-19 has a direct and negative impact on the cashew market in United States. Due to the closure of cashew factories, value addition activities were affected negatively and this has resulted in the rise of cashew prices.

Health benefits of cashew consumption and demand from cashew processing industries are the prime drivers of the market.The consumption of cashew is majorly concentrated in states, like California, Florida, New York, Texas, and New Jersey.

In 2020, the country exports about USD 679 thouand of cashew majorly to Jamaica, Trinidad & Tobago, Canada and South Korea. Similarly the county imports the cashew majorly from the countries such as Vietnam, Cote d Ivoire and Honduras.

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Key Market Trends

Decrease in the Cashew Imports

In United States, Cashew (in shell) imports are very low and have been decreasing at a significant rate since 2017. According to the ...
... ITC Trade Map, the country imports 143 metric ton of cashew (in shell) in 2020, which is almost 56.4% less than the imports noticed in 2017, which was 328 metric tons. The main reason for the reduction in imports is due to the fall in the prices in the US market. The prices of cashews have declined by 13.5% in 2018 which effected the cashew imports. Vietnam is the largest exporter of cashew in shell to United States accounting for the 89% of the total imports in terms of volume followed by Cote d Ivoire and Honduras with 9% and 2% respectively in 2020.

Growth in the Consumption of Cashew in United States

The United States is the 2nd largest consumer of cashew in terms of volume with the share of 20.97% of the total global consumption in 2018. Cashews are also increasingly used as a constituent in muesli, energy bars, cookies, chocolate, and ice creams . Therefore, high demand from direct consumers and cashew milk processing industries in the United States are the key stimulants for the cashew consumption in the United States.

vegetarians have prioritized plant-based diets and as alternative sources of protein, instead of those derived from animals, resulting in the soaring demand for nuts and nut-infused food, thereby increasing the per capita consumption of cashew nuts in the country. According to the International Nut and Dried Fruits Council, the Per capita consumption of cashews in the country is increased from 0.44 kilograms in 2016 to 0.46 kilograms in 2018.

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