Vietnam’s Cashew Nut Market
Cashew nut is one of the important nut species in the global market. Since 2017, Vietnam has become the world’s top cashew nut processing center and largest exporter of cashew nuts, accounting for more than 50% of the global processed cashew nut raw materials. According to the analyst's analysis, Vietnam is characterized by the tropical monsoon climate, thus having natural advantages in cashew cultivation.
In 2021, according to the planting plan of the Ministry of Agriculture and Rural Development of Vietnam, the annual planting area of cashews will be 360,000 ha, and the cashew output will reach 360,000 tons.
In 2021, Vietnam exported 579,773 million tons of cashews, up 12.6% year on year, and nearly USD3.64 billion, up 13.3% year on year. Among them, Vietnam exported 176,363 tons to the United States, with an export value of USD1.052 billion. 85,162 tons cashew nuts were exported to China, with an export value of USD614.29 million. 68,903 tons cashew nuts were exported to Netherlands, with an export value of USD373.65 million; 21,200 tons cashew nuts were exported to Germany, with an export value of USD134.68 million
According to the analyst's analysis, with the entry into force of various FTAs such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP), and the gradual control of the COVID-19 epidemic.
In 2021, Vietnam's cashew nut industry recorded its first trade deficit in 31 years. Vietnam imported 2.87 million tons (US$4.2 billion) of raw cashews, up 98.3% and 131.5% year-on-year, respectively. According to the analyst's analysis, there are still some shortcomings in Vietnam’s cashew nut industry. For example, the cultivation of cashew nuts in Vietnam is still dominated by small-scale farmers, and has not yet formed large-scale production. And Vietnam is relatively backward in the cultivation technology, which to a certain extent limits the development of the cashew nut industry.
According to the analyst's analysis, in the global cashew nut value chain, Vietnam exports cashew nuts at about USD10 per kilogram or less, while cashew nut products are sold at up to USD20-30 per kilogram in the end market. Vietnam needs to increase the added value of cashew products and take advantage of modern processing technologies.
The analyst says that Vietnam’s cashew production and exports will continue to rise in 2022-2031, and for investors, there are many investment opportunities in Vietnam’s cashew industry, from cultivation to processing and trading.
Topics covered:
- Overview of Vietnam’s Cashew Industry
- Economic and Policy Environment of Vietnam’s Cashew Nut Industry
- What is the Impact of COVID-19 on Vietnam’s Cashew Nut Industry?
- Vietnam Cashew Nut Market Size, 2016-2021
- Forecast on Vietnam Cashew Nut Market, 2022-2031
- Analysis of Major Cashew Nut Companies in Vietnam
- Key Drivers and Market Opportunities in Vietnam’s Cashew Nut Industry
- What are the key drivers, challenges, and opportunities for the cashew nut industry in Vietnam during 2022-2031?
- What is the expected revenue of Vietnam cashew nuts market during 2022-2031?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of Vietnam’s cashew nuts market is expected to dominate the market in 2031?
- What are the major adverse factors facing the cashew nuts industry in Vietnam?
Table of Contents
Companies Mentioned
- Organics More
- Cao Phat Company
- Thanh Dat Nguyen Gia Company
- KM Green Company
- My An Co
- Son Thanh Company
- Macy Vietnam
- Lafooco
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 60 |
| Published | July 2022 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value in 2022 | 370.8 Thousand |
| Forecasted Market Value by 2031 | 484.9 Thousand |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 8 |
