At the end of 2023, the global cashew processing machine market is estimated to be worth US$ 5203.10 million. The market is anticipated to expand at a CAGR of 7.4% over the course of the forecast period and will be worth US$10624.41 million by 2023.
Because cashew nuts are a great source of fibre, calcium, copper, antioxidants, and healthy fatty acids, doctors and health professionals all over the world recommend them to their patients who have certain conditions. This presents a huge opportunity for the cashew processing equipment market.
Additionally, according to research by FMI, the processed cashew market is anticipated to expand at a CAGR of roughly 5.8% over the course of the forecast period. This number unmistakably indicates that the market for cashew nut processing equipment has enormous potential.
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Additionally, there are a few areas with significant dry fruit markets, such as the Middle East and Europe. According to a survey, the market for dry fruits is expanding in Europe. This is well expected to increase the demand for cashew machine during the forecast period.
One of the biggest benefits related to the usage of cashew processing machine is that the fixed labour costs drastically come down.
Apart from that, the manufacturers are particularly impressed by the increase in yield and improvement in the sorting and grading efficiencies that is obtained because of the implementation of cashew processing machine.
Moreover, the adoption of certain technologies like TOMRA 5B, which is a smart view camera technology and the NIMBUS BSI+ technology, which is implemented for the purpose of scanning is attracting a lot of potential investors towards the cashew processing machine market.
The cashew processing machines come with an amazing ability of processing cashews worth 200 kg/hr to 350 kg/hr, which shows the potential of this machine.
Thus, from the insights provided by FMI, it is quite clear that “burgeoning cashew market, coupled with benefits offered like increase in yield, and implementation of latest technology to improve the efficiency is expected to increase the sales of cashew processing machine during the forecast period.”
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Key Takeaways:
- The cashew processing machine market is valued at US$ 5203.10 million as on 2023.
- By 2033, the market is expected to reach a valuation of US$ 10624.41 million.
- The market is expected to grow at a CAGR of 7.4% during the period 2023-2033.
- The US cashew processing machine market is valued at US$ 1873.12 million as on 2023, and is expected to grow at a CAGR of 6.8% during the forecast period.
- The UK market is valued at US$ 338.20 million as on 2023, and is forecasted to grow at a CAGR of 6.2% during the forecast period.
- The China cashew processing machine market is valued at US$ 473.48 million as on 2023, and is expected to grow at a CAGR of 8.9% during the forecast period.
- The Japan market holds a valuation of US$ 286.17 million as on 2023, and is projected to expand at a robust CAGR of 9.7% through 2033.
- The South Korea cashew processing machine market is expected to grow at a CAGR of 10.4% through 2033, and by 2033, the market is expected to be valued at US$ 167.93 million.
- Based on the type, the drying equipment segment has the highest market share, and is expected to grow at a CAGR of 7.5% during the forecast period.
- Based on the application, the cashew kernels segment has the highest market share, and is expected to grow at a CAGR of 7.1% during the forecast period.
Competitive Landscape
The key players in the market are implementing latest technologies to develop best quality machines. Apart from that, the focus has also been into entering into strategic partnership with cashew manufacturers, and in some cases, help them in forward integration as well.
Some of the recent developments in the cashew processing machine market are:
- AC Horn appoints Michael Douglas Horn Jr. as the new president of AC Horn manufacturing.
- In May 2022, TOMRA celebrated New South Wales container deposit scheme agreement extension.
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Key Companies Profiled in the Cashew Processing Machine Market
- Machinery
- Shri Avdhut Industries
- TOMRA
- Alidhra Cashew Industries
- Suraj Engineering
- Rotex Transmission
- Rami International
- nuttech.eu
- JEM Equipment
- AC Horn Manufacturing
- Savage Equipment.
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