The market for cashew in the Germany is estimated to grow at a CAGR of 4.1% in terms of consumption during the forecast period of 2020-2025. Germany is one of the major markets for cashew consumption in the European Union. The country’s market accounts for around of the European market demand, which is growing continuously due to the high demand from the food and food processing industries. The favorable exchange rates and stable prices in the regional market are triggering the interest of packers and consumers equally.
Key Market Trends
Increasing Import Demand for the Cashew
Germany accounts for 53% of the imported cashew circulated within the region. The major countries exporting cashew nuts to Germany are Vietnam, Nigeria, India, Côte d'Ivoire, and Benin. The import demand for cashew is enhancing owing to the increasing health benefits among the customers In addition to this, cashews are high in monounsaturated and polyunsaturated fats and are a good source of protein. The rich fat content of cashews makes them a seamless substitute for heavy cream, as it can be added to a variety of sweet or savory dishes as a healthy vegan substitute for heavy whipping cream.
Increasing Usage of Cashew in Food Industry
The country’s market for cashew kernels is highly focused on the snack segment, whereas, the demand for pieces and broken kernels are derived from the growing food industry. Cashew kernels are largely used in the German market as a roasted-and-salted snack. Lately, cashew kernel also turns out to be interesting to industrial users and is used in cookies and cereals, and is also promoted as a topping on ice cream. The consumers in Germany are increasing, mainly due to the lower price differentiation between cashew and other nuts, like almonds. Despite the minimal production within the country, it is completely dependent on the imports in order to satiate the domestic demand.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support