Tanzania Cashew Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 690.97 Million |
| Market Size (2029) | USD 860.25 Million |
| CAGR (2024 - 2029) | 4.48 % |
Tanzania Cashew Market Analysis
The Tanzania Cashew Market size is estimated at USD 690.97 million in 2024, and is expected to reach USD 860.25 million by 2029, growing at a CAGR of 4.48% during the forecast period (2024-2029).
Tanzania is one of the largest producers of cashew nuts in Africa and in the world. It is one of the major cash crops grown in the country. The country holds the eighth position in the world and fourth in Africa for the production of cashews. According to the International Nut and Dried Fruit Council, in 2020, cashew nut global output was 4.1 million metric tons, of which more than half came from Coast and Guinea-Bissau. India and Vietnam were the other main producers besides Tanzania.
The favorable climatic conditions, along with government support, are the factors that drive the growth of the cashew market in Tanzania. The government aims to triple cashew nut production over the next four to five years. Additionally, the harvest season of Tanzania matches with the off-season for the supply of cashews from India and West Africa, which provides a competitive advantage, thereby allowing the sale of the produce at higher prices.
Moreover, Tanzania has one of the largest-sized nuts with a very high natural yield per hectare, providing a good export value for Tanzanian cashews in the international market. Cashew nuts are Tanzania's most exported cash crop, generating USD 159 million in 2021. The major export countries are Vietnam, India, and China. Thus, the high export value of Tanzanian cashews is expected to boost the growth of the market over the forecast period.
Tanzania Cashew Market Trends
This section covers the major market trends shaping the Tanzania Cashew Market according to our research experts:
Increasing Government Support and Growing Production Driving the Market
Cashew is majorly grown as a cash crop in Tanzania. The high quality and bigger size of the nuts earn high prices for cashews in local as well as international markets. The high prices of exported cashews generate 10-15% of the country's foreign exchange. Hence, the government of Tanzania is generating favorable policies in order to increase production. One such is supporting local cashew processors, both as individuals and collectively, to grow, increase their capacity and become sustainable through an initiative that allows processors to buy directly from farmers. By implementing such initiatives, the government aims to triple cashew nut production in the country to 1 million metric ton by 2025. According to FAO, the production increased from 225,106 metric tons in 2019 to 232,681 metric tons in 2020.
Tanzania is one of the major cashew-producing countries in Africa. Major cashew-growing areas in Tanzania include Mtwara, Lindi, Ruvuma, and Tanga. Among these regions, the Mtwara and Lindi regions contribute more than 87% to the national cashew production. According to the Cashewnut Board of Tanzania, Tanzania has a substantial potential to extend production and increase the amount and add value to domestically processed cashew nuts beyond the current 10% while also making use of by-products. Therefore, the capacity to increase production is expected to boost the growth of the market during the forecast period.
Increasing Exports of Shelled Cashew
Cashew nuts are the most exported cash crop in Tanzania; 90% of the crop is exported in raw form with shell. It generates high export value. According to the ITC trade map in 2020, the export value of in-shell cashew was USD 356 million. Additionally, the harvest season of cashews in Tanzania is when there is no supply from the major exporting countries, such as India and Vietnam, increasing the demand for Tanzanian cashews in the international market. The export value and the lower competition are driving the market's growth.
The government aims to triple cashew nut production over the next four to five years to cater to the increasing demand for exports in the international market. The increased production is also expected to increase exports, thereby earning a good amount of foreign exchange.
Tanzania's cashew exports cater to various Asian countries. Vietnam and India are the major countries to import raw cashew nuts from Tanzania. In 2020, Vietnam imported 82,245 metric tons of cashews, followed by India with 71,735 metric tons. Thus, with the increasing demand for cashew globally, exports are increasing from Tanzania.
Tanzania Cashew Market News
- July 2022: Tanzania Investment Center (TIC) revealed that the government of Tanzania is planning to construct cashew nut processing factories in Tanzania in collaboration with local investors to supply value-added cashew nuts in the international market to earn high export value and create employment opportunities for the Tanzanian people.
- May 2022: The Government of Tanzania launched an initiative by investing USD 26 million to supply free agricultural inputs to cashew farmers across the country in the cashew-producing regions to improve the production of the crop.
- March 2022: The Tanzania Agriculture Research Institute (TARI) is involved in improving old cashew trees by grafting and budding techniques. The techniques combine parts of old plants with new hybrid ones to increase productivity.
Tanzania Cashew Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
5. MARKET SEGMENTATION
5.1 Production Analysis
5.2 Consumption Analysis (Volume and Value)
5.3 Import Market Analysis (Volume and Value)
5.4 Export Market Analysis (Volume and Value)
5.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Tanzania Cashew Industry Segmentation
Cashew nuts are edible kidney-shaped nuts, rich in oil and protein, and are roasted and shelled before being eaten. Oil extracted from the shell is used as a lubricant in the production of plastics.
The Tanzanian cashew market is segmented by production analysis, consumption analysis by value and volume, import analysis by value and volume, export analysis by value and volume, and price trend analysis. The report offers the market size and forecasts in terms of volume (in metric tons) and value (in USD thousand) for all the above segments.
Tanzania Cashew Market Research FAQs
How big is the Tanzania Cashew Market?
The Tanzania Cashew Market size is expected to reach USD 690.97 million in 2024 and grow at a CAGR of 4.48% to reach USD 860.25 million by 2029.
What is the current Tanzania Cashew Market size?
In 2024, the Tanzania Cashew Market size is expected to reach USD 690.97 million.
What years does this Tanzania Cashew Market cover, and what was the market size in 2023?
In 2023, the Tanzania Cashew Market size was estimated at USD 661.34 million. The report covers the Tanzania Cashew Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Tanzania Cashew Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Tanzania Cashew Industry Report
Statistics for the 2024 Tanzania Cashew market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Tanzania Cashew analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
