Scandinavia: Cashew Nut Market 2025

Cashew Nut Market Size in Scandinavia

The Scandinavia cashew nut market skyrocketed to $X in 2021, jumping by 118% against the previous year. Over the period under review, consumption showed a buoyant expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Cashew Nut Production in Scandinavia

In value terms, cashew nut production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a dramatic decrease. The growth pace was the most rapid in 2019 with an increase of 562% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Finland (X tons) remains the largest cashew nut producing country in Scandinavia, accounting for 76% of total volume. Moreover, cashew nut production in Finland exceeded the figures recorded by the second-largest producer, Denmark (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume in Finland amounted to -23.3%.

Cashew Nut Exports

Exports in Scandinavia

After two years of decline, shipments abroad of cashew nuts increased by 83% to X tons in 2021. In general, exports, however, saw a dramatic descent. The pace of growth appeared the most rapid in 2018 when exports increased by 633%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cashew nut exports surged to $X in 2021. Overall, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 416%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Denmark (X tons) represented the main exporter of cashew nuts, achieving 67% of total exports. It was distantly followed by Sweden (X tons), mixing up a 30% share of total exports. Norway (X kg) took a little share of total exports.

Exports from Denmark increased at an average annual rate of +23.1% from 2012 to 2021. At the same time, Sweden (+73.0%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +73.0% from 2012-2021. By contrast, Norway (-13.6%) illustrated a downward trend over the same period. While the share of Denmark (+66 p.p.) and Sweden (+30 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest cashew nut supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was held by Sweden ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark stood at +19.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+71.0% per year) and Norway (-10.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, waning by -13.9% against the previous year. In general, the export price, however, posted strong growth. The pace of growth appeared the most rapid in 2013 an increase of 416%. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.4%), while the other leaders experienced a decline in the export price figures.

Cashew Nut Imports

Imports in Scandinavia

For the third consecutive year, Scandinavia recorded growth in supplies from abroad of cashew nuts, which increased by 113% to X tons in 2021. Over the period under review, imports showed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cashew nut imports surged to $X in 2021. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 112% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Denmark (X tons) was the key importer of cashew nuts, mixing up 70% of total imports. Finland (X tons) ranks second in terms of the total imports with a 13% share, followed by Norway (11%) and Sweden (5.8%).

Imports into Denmark increased at an average annual rate of +22.8% from 2012 to 2021. At the same time, Finland (+34.0%), Sweden (+10.2%) and Norway (+9.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +34.0% from 2012-2021. From 2012 to 2021, the share of Denmark and Finland increased by +15 and +8.6 percentage points, respectively.

In value terms, Denmark ($X) constitutes the largest market for imported cashew nuts in Scandinavia, comprising 58% of total imports. The second position in the ranking was taken by Norway ($X), with a 19% share of total imports. It was followed by Finland, with a 16% share.

In Denmark, cashew nut imports expanded at an average annual rate of +20.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (+14.7% per year) and Finland (+38.8% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, waning by -18.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+22.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform