CORRECTING and REPLACING APAC Tops the Cashew Nut Processing Equipment Market | Technavio

Please replace the release dated February 1, 2018, with the following
corrected version due to multiple revisions.

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Technavio has published a new market research report on the global cashew nut processing equipment market 2018-2022 under their food and beverage library. (Graphic: Business Wire)

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The latest market research report by Technavio
on the global cashew nut processing equipment market predicts a CAGR of
more than 5% during the period 2018-2022.

The report segments the global cashew nut processing equipment market by
technology (automatic cashew nut processing equipment and semi-automatic
cashew nut processing equipment), by product (shelling equipment,
roasting equipment, peeling equipment, and drying equipment), and by
geography (the Americas, EMEA, and APAC). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global cashew nut processing
equipment market, according to Technavio food and beverage researchers:

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Increasing government support for cashew nut processing: a major
market driver

Increasing government support for cashew nut processing is one of the
major factors driving the global cashew nut processing equipment market.
There has been increasing government support for improving cashew nut
production and processing in various emerging economies such as India,
Ghana, Côte d’Ivoire, Kenya, and others. For instance, in March 2017,
the Government of Ghana revised its plan to establish the Cashew
Development Authority. The establishment of the authority is to increase
production, regulate prices, and revive the cashew nut processing sector
by establishing new cashew nut processing companies and re-establishing
the distressed cashew nut processing companies.

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Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

APAC: largest cashew nut processing equipment market

APAC held the largest share of the global cashew nut processing
equipment market in 2017. The region accounted for more than 51% of the
global market share in 2017. It is anticipated that there will be an
increase in government support for more cashew nut processing activities
in APAC during the forecast period. For instance, the Board of
Investments (BOI) has approved incentives for the expansion project of
cashew nut processing company, R-Ley Trading in the Philippines. Such
government support will assist in increasing the processing capacity
expansions, thereby propelling the market growth of the cashew nut
processing equipment.

According to a senior analyst at Technavio for research on food service,
“EMEA is anticipated to witness the highest growth rate in the cashew
nut processing equipment market during the forecast period. The region
accounted for close to 35% of the overall market in 2017 and is expected
to grow further during the forecast period. There have been increasing
foreign investments to enhance cashew nut processing in various
countries such as Tanzania, Kenya, and Côte d’Ivoire.”

Rise in foreign investments for cashew nut processing: a key market

The cashew nut processing industry is one of the major industries in
emerging economies such as India, Brazil, Côte d’Ivoire, Vietnam,
Nigeria, Thailand, and others. There is ample availability of raw cashew
nuts in countries such as Côte d’Ivoire, Nigeria, and Benin. In November
2016, the Government of Côte d’Ivoire exempted the locally processed
nuts from export duties. The objective of this move was to improve the
cashew nut processing industry in the country. Due to the enormous
opportunities for the cashew industry in these countries, several
foreign investors have been partnering with local entrepreneurs to set
up plantations and processing factories in various countries.

Get a sample copy of the global cashew nut processing
equipment market report free of cost

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library and find expert analysis on hundreds of markets.

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