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What are the factors that affect the cashew consumption at the most?

Sep 14, 2021
Edited By
Jinwoo Cheon
Sep 14, 2021
Edited By
Jinwoo Cheon
Cashew consumption is affected by consumers' income, price change, demographic factors such as age pyramid, advertisement, availability, nutritional properties, individual preferences, and seasons and special occasions.

The international cashew market is extremely volatile and the slightest changes in any factors can impact the market drastically. The below-mentioned factors influence cashew demand and consumption at a rapid pace.

A. Real Income of Consumers: The level of real income is the basic factor that determines consumers’ cashew consumptions. Basically, when real income increases then consumers buy more cashews and other exotic nuts.

B. Expectation of Changes in Price: When processors and importers expect high demand and low supply in near future then they procure more cashews to take advantage of the future market and it can affect the price for a while. When price increases then consumers either stop or reduce cashew purchases.

C. Demographic Factors: Various demographic factors including the rate of population growth, urbanization, the age pyramid, are positively correlated to cashew consumption. The young urban population of developing nations is a huge market of cashew consumers that is emerging constantly. That market is stronger than in Western countries.

D. Demonstration Effect: Constant advertisement also leaves an impression on the mind of the consumers. Many consumers associate cashew consumption with economic prosperity.

E. Availability: The availability of cashew nuts also influences consumer habits. Abundant supply leads to low prices and it encourages consumers to buy more cashews. On the contrary, the rise in the price of cashews influences consumers to buy cheaper substitute snacks instead of cashews including peanuts.

F. Nutritional Properties of Cashew: Cashew is a rich source of various nutritional properties and it has immense positive effects on human bodies. Therefore, the consumption of cashews has increased in both developed and developing nations as a healthy snack substitute.

G. Individual Tests and Preferences: Cashew nuts are very important to few cooking cultures and they are especially popular among affluent vegetarian families.

H. Season & Occasion Based Demands: For many cashew consumers, the festive seasons and special occasions are a great reason to buy cashews. The main peaks of consumption are from October to January, during the different festivities around the world.

Source: Global Cashew Market A Snapshot Overview

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