The US cashew nuts market is estimated to grow at a CAGR of 4.6% during the forecast period. Increasing consumption of cashew nuts is the major factor accelerating market growth. As per the International Nut and Dried Fruit Council, the estimated consumption of cashew in the US increased from 150,230 metric tons in 2017 to 151,087 metric tons in 2018. This is being significantly consumed as a roasted form in the US. Roasted cashew nuts are available in a range of flavors and increasing launches of gourmet nuts is supporting the growth of the market.
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Additionally, several health benefits associated with cashew nuts are also driving the consumption of these nuts in the country. Cashews are rich in fiber and low in sugar and contain plant protein and heart-healthy fats. Cashew nuts are also a potential source of some essential nutrients such as manganese, copper, and magnesium that are important for energy production, bone health, brain health, and immunity. Apart from these benefits, cashews are rich in polyphenols and carotenoids, which are two antioxidants categories that may support reduce inflammation and provide protection from conditions such as cancer and CVD.
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Scope of the US Cashew Nuts Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Form and Distribution Channel
- Competitive Landscape- PepsiCo, Inc., Blue Diamond Growers, and the Kraft Heinz Co.
Recent Strategic Initiatives in the US Cashew Nuts Market
- In May 2020, PepsiCo, Inc. launched two direct-to-consumer websites, including Snacks.com and PantryShop.com. These websites allow shoppers to order a range of food and beverage brands from PepsiCo. With the increasing consumers’ inclination towards online platforms for their food and beverage requirements during the COVID-19 pandemic, these websites will offer shoppers easy and fast access to PepsiCo’s products.
- In July 2019, Pear’s Gourmet revealed new snack nut flavors which are developed particularly for consumers requiring exciting, unique flavors. These nut flavors are free from artificial preservatives, colors, and flavors. These newly released trios of premium snack nuts sell are available in 7 oz stand-up resealable foil pouches. This includes sugar cookie confetti cashews, cocoa dusted truffle peanuts, and salted caramel churro flavored almonds. Suggested retail for the almonds and cashews SRP is $5.99, and peanuts are $2.99.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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US Cashew Nuts Market-Segmentation
By Form
- Raw
- Roasted
By Distribution Channel
- Offline
- Online
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
