Global Cashew Nut Processing Equipment Market 2024 - By Growth Opportunities, Future Insights, Regional Segments, Latest Innovations And Forecast To 2033

The cashew nut processing equipment market size has grown strongly in recent years. It will grow from $5.34 billion in 2023 to $5.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growing cashew nut consumption, quality and safety standards, globalization of trade, rising consumer awareness, supply chain integration.

The cashew nut processing equipment market size is expected to see strong growth in the next few years. It will grow to $7.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to emerging markets demand, automation and industry 4.0, sustainability practices, customization and flexibility, e-commerce growth. Major trends in the forecast period include technological advancements, automation and technology integration, energy-efficient processing, hygienic processing standards, customization for small and medium enterprises (smes).

Market Overview -
Cashew nut processing equipment refers to machinery and tools that process raw cashew nuts into edible cashew kernels by removing the highest possible weight of kernels from the nut in-shell, unbroken. It processes the cashew nuts, turning them from raw to peeled and roasted. This equipment streamline the production process, enhancing efficiency and quality.

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The Veganism Boom Fueling Growth In The Cashew Nut Processing Equipment Market
The increasing popularity of veganism is expected to propel the growth of the cashew nut processing equipment market going forward. Veganism is both a lifestyle and a dietary selection that refrains from utilizing wholly animal-derived products, dairy products, and the products that might be derived from the animals. Cashew nut processing equipment is used to peel the thin skin layer that covers the kernel, which can be further used into various food products . For instance, in March 2022, according to the Plant Based Foods Association, a US-based trade association representing the nation's plant-based food companies, retail sales of plant-based meals in the United States increased by 6.2% in 2021 compared to a record year of growth in 2020, bringing the market value of all plant-based products to an all-time high of $7.4 billion. Currently, 79 million households in the United States, or 62%, buy products made from plants, which is a 61% increase from 2020 (77 million in 2020). Therefore, the increasing popularity of veganism is driving the growth of the cashew nut processing equipment market.

Competitive Landscape -
Major companies operating in the cashew nut processing equipment market report are Tomra Systems ASA, Rotex Manufacturers & Engineers Pvt. Ltd., A/S Cimbria, GELGOOG Machinery Inc., Ss Engineering Works Limited, Abhay Engineering Private Limited, APS Industries Limited, Italiya International Food Machinery, Jem Equipment Corp., Krishna Industries Private Limited, Oltremare S.R.L., Oscar Cashew Tech Private Limited, Rami International Limited, Sree Rama Technology Industries (P) Ltd., AC Horn Manufacturing Company, Chirag Gopalbhai Chhatrala, CNSL Privet Limited, Divyesh Vyas & Co., Gayathri Industrial Products Limited Liability Partnership, GI Technology Private Limited, Locus Exim Private Limited, Mastana Jogi International Private Limited, MK Tech Engineering Pte. Ltd., Muskan Equipments Co., Parivartan Kaju House, Thai Cashew International Co. Ltd.

Increasing Focus On Introducing Automatic And Modern Cashew Processing Plants To Gain A Competitive Edge Tn The Market
Major companies operating in the cashew nut processing equipment market are focused on developing innovative cashew processing plants, such as automatic cashew processing plants, to gain a competitive edge in the market. An automatic cashew processing plant uses machines to reduce the amount of manual labor required to process raw cashew nuts into finished cashew kernels. For instance, in October 2021, Mekong Tech Group, a Vietnam-based manufacturer of whole-kind cashew machines, launched VN-2022, a new modern automatic cashew processing plant. It is operated automatically from the cleaning process through shelling and separating to tray filling in preparation for filling the tray. The labor required to shell cashews is reduced by 60-70%. It has a modern automatic control system that connects machine systems through SCADA (supervisory control and data acquisition) control systems or ERP (enterprise resource planning) management software. The main elements of the cashew processing factory, such as the cashew steaming and chilling system and the cashew shelling and separating system, are created using the most recent technology available in Vietnam.

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Key Segments -
The cashew nut processing equipment market covered in this report is segmented -
1) By Type: Roasting Equipment, Peeling Equipment, Drying Equipment, Shelling Equipment, Sorting And Grading Equipment, Other Types
2) By Operation: Automatic, Semi-Automatic
3) By End-Use: Cashew Nut Processing Plants, Commercial Kitchens

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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