The cashew market in the United States is estimated to register a CAGR of 3.1% during the forecast period (2020-2025). Cashew production in the United States is negligible, therefore it depends on imports to meet the market demand. The united states are the leading importer of cashew kernels with 98 thousand metric tons in 2019, which is 11% of words total import quantity but the imports of in-shell cashew are very low. The United States is primarily dependent on Vietnam, Thailand, and India for importing cashew. Health benefits of cashew consumption and demand from cashew processing industries are the prime drivers of the market.
Key Market Trends
Decrease in Cashew Imports
The United States is the leading importer of cashew kernels in the world but raw, shelled cashew imports are very low and the imports have been decreasing at a significant rate since 2017. The import volume in 2019 was 150 metric tons, which is almost 50% less than the import value noticed in 2017. The main reason for the reduction in imports is due to the fall in the prices in the United States market. The prices of cashews have declined by 13.5% in 2018 which effected the global cashew exports.
Vietnam - Major Cashew Importing Partner
The United States imports in-shell cashew from Vietnam, Honduras, and India. Vietnam accounts for the major share of importing value with USD 1.2 million, followed by Honduras and India with USD 66,000 and 4,000, respectively in 2019. In shell cashew imports are very low in the United States, as the country primarily depends on shelled cashew imports. High demand from direct consumers and cashew milk processing industries in the United States are the key stimulants for the cashew importing market in the United States.
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