Dublin, Aug. 18, 2022 (GLOBE NEWSWIRE) -- The "Research Report on Vietnam's Cashew Nut Market, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
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 of cashew nuts were exported to China, with an export value of USD614.29 million. 68,903 tons of cashew nuts were exported to the Netherlands, with an export value of USD373.65 million; 21,200 tons of 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 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.
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 the 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?
Key Topics Covered:
1 Overview of Vietnam
1.1 Geographical Situation
1.2 Demographic Structure of Vietnam
1.3 Economy of Vietnam
1.4 Minimum Wage in Vietnam, 2011-2021
1.5 Impact of COVID-19 on Vietnam's Cashew Nut Industry
2 Development Environment of Cashew Nut industry in Vietnam
2.1 Brief history of Cashew Nuts Development in Vietnam
2.2 Types of Cashew Nuts in Vietnam
2.3 Policy Environment of Vietnam's Cashew Nut Industry
3 Supply and Demand Situation of Vietnam's Cashew Nut Industry
3.1 Supply Situation
3.2 Demand Situation
4 Import and Export Status of Vietnam's Cashew Nut Industry
4.1 Import Status
4.1.1 Import Volume and Import Value
4.1.2 Main Import Sources
4.2 Export Status
4.2.1 Export Volume and Export Value
4.2.2 Main Export Destinations
5 Market Competition of Vietnam's Cashew Nut Industry
5.1 Barriers to Entry in Vietnam's Cashew Nut Industry
5.1.1 Brand Barriers
5.1.2 Quality Barriers
5.1.3 Capital Barriers
5.2 Competition Structure of Vietnam's Cashew Nut Industry
5.2.1 Bargaining Power of Cashew Nut Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Competition in Vietnam's Cashew Nut Industry
5.2.4 Potential Entrants in the Cashew Nut Industry
5.2.5 Alternatives to Cashew Nuts
6 Analysis of Major Cashew Nut Brand Companies in Vietnam
6.1 Organics More
6.1.1 Development History of Organics More
6.1.2 Main Products of Organics More
6.1.3 Operation Model of Organics More
6.2 Cao Phat Company
6.3 Thanh Dat Nguyen Gia Company
6.4 KM Green Company
6.5 My An Co
6.6 Son Thanh Company
6.7 Macy Vietnam
6.8 Lafooco
7 Outlook on Vietnam's Cashew Nut Industry, 2021-2031
7.1 Analysis of Vietnam's Cashew Nut Industry Development Factors
7.1.1 Drivers and Development Opportunities for Vietnam's Cashew Nut Industry
7.1.2 Threats and Challenges to Vietnam's Cashew Nut Industry
7.2 Forecast on Vietnam's Cashew Nut Industry Supply
7.3 Forecast on Vietnam's Cashew Nut Market Demand
7.4 Forecast on Vietnam's Cashew Nut Import and Export
Companies Mentioned
- Organics More
- Cao Phat Company
- Thanh Dat Nguyen Gia Company
- KM Green Company
- My An Co
- Son Thanh Company
- Macy Vietnam
- Lafooco
For more information about this report visit https://www.researchandmarkets.com/r/iq47t2
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