The cashew market in Europe is estimated to register a CAGR of 3.4% during the forecast period (2020-2025). Europe is completely dependent on imports for cashew with zero domestic production. The demand for cashew nut is growing at a continuous rate of 3-4% annually, making cashew the cheapest tree nut in the region. The majority of the regional demand is generated by countries such as the Netherlands, the United Kingdom, France, Germany, Spain, and Italy. The primary cashew market drivers in this region are the nutrient content of the nut and the demand for ready to eat snacks.
Key Market Trends
Germany and the Netherlands the leading Importers
The European cashew import trade is highly concentrated with two major importers, Netherlands and Germany with 60% of total European imports. Both countries are big consumers of cashew nuts and they are also transit countries for other European destinations. The Netherlands is an important trade hub for the re-export of cashew nuts within Europe. The Netherlands re-exports to other European countries approximately 75% (approximately 30 thousand tonnes) of its cashew imports.
Vietnam - The Leading Supplier to Europe
The leading supplier of cashew to Europe is Vietnam, followed by India. In 2017, Vietnam reached its highest ever export value of cashew nuts to Europe at USD 1,062.50 million, nearly USD 245.5 million more than in the previous year. Honduras and Indonesia have also been growing their shares of the European market at average annual export growth rates of 40% and 50% respectively in the past five years. However, the export volume of those two countries is still very small.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support