According to Vietnam Customs, in 2023, Vietnam’s cashew export turnover increased by 18% year-on-year, reaching USD 3.6 billion — though still below the 2021 record.
By 2024, cashew exports hit 730,000 tons, valued at USD 4.37 billion, up 13.3% in volume and 20.2% in valuecompared to 2023 — marking a new historic milestone for the industry.
Vietnam Remains the World’s Leading Cashew Exporter
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Mr. Trần Hữu Hậu, Deputy Secretary-General of the Vietnam Cashew Association (VINACAS), noted that despite facing challenges in both harvest and market conditions, cashew kernels continued to be one of Vietnam’s top seven agricultural export items surpassing USD 3 billion in turnover.
Vietnam maintained its position as the world’s largest cashew exporter for the 18th consecutive year, accounting for over 80% of global cashew kernel exports.
Key Markets: U.S., EU, China, and India
The United States remains one of the largest consumers of Vietnamese cashews. With the growing global demand for healthy and nutritious snacks, the U.S. will continue to be a core market for Vietnam’s cashew industry in 2025.
Under the EU–Vietnam Free Trade Agreement (EVFTA), Vietnamese cashews enjoy preferential tariffs, enabling deeper market penetration into Europe.
Within the EU, Germany is the largest importer. Demand for cashews peaks during the winter season, reflecting seasonal consumption patterns for snacks.
Cashews are increasingly used as ingredients in spreads, snack bars, and organic food products, thanks to the global shift toward healthy eating.
Meanwhile, China remains a key trading partner, though exporters must strictly comply with quality control and import regulations.
India, despite being a major cashew producer, also represents a promising buyer of raw cashews for processing and re-export.
Healthy Food Trends Drive Global Demand
The global shift toward healthy diets presents major opportunities for Vietnam’s cashew industry.
Cashews are highly valued for their nutritional content, versatile applications, and premium taste.
Vietnam’s competitive edge lies in its modern processing facilities, technological expertise, and export-oriented supply chain.
To sustain its global leadership, Vietnamese exporters must:
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Ensure compliance with international standards such as HACCP, ISO, and traceability systems.
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Continue improving quality and brand recognition.
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Focus on sustainability and ethical sourcing, which are increasingly prioritized by international buyers.
Strategic Directions for 2025
To fully unlock export potential, Vietnam’s cashew industry should pursue the following strategies:
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Invest in quality and branding to strengthen competitiveness and global market identity.
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Expand into emerging markets such as the Middle East, Japan, and South Korea.
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Develop high value-added products including cashew butter, cashew milk, roasted snacks, and flavored kernels to diversify product portfolios.
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Apply digital technology in production management and traceability to meet international buyers’ transparency and safety standards.
Global Market Outlook: Favorable Growth Ahead
According to global forecasts, the cashew market is expected to grow by 4.6% annually between 2022 and 2027.
The rising popularity of plant-based diets and vegan lifestyles has significantly boosted the consumption of nuts and plant-based food products — including cashews.
With its production capacity, processing advantage, and trade agreements, Vietnam is well-positioned to accelerate cashew exports and reinforce its dominance in the global market in 2025 and beyond.