Market research: How are global spices and cashew markets growing in 2026?

Black pepper, cinnamon, star anise and cashew nuts are four commodities where Vietnam holds a leading global export position. Here's a roundup of the 2026 global market forecasts for these two categories.

Spices: steady growth, black pepper leading by share

According to MarketDataForecast, the global spices market reached US$27.51 billion in 2025 and is projected to grow to US$28.95 billion in 2026, with a compound annual growth rate of roughly 5.25% through 2034. Notably, black pepper is forecast to account for 33.39% of the entire spice market in 2026 — the largest share of any single spice — driven by its distinctive flavor and growing awareness of its health benefits. Cinnamon holds roughly 6–7% share by volume, while star anise and other aromatic spices also contribute meaningfully to overall growth.

Cashew: 4–7% annual growth depending on the report

Cashew market reports show a fairly wide 2026 forecast range — from roughly $3.57 billion to over $10 billion depending on scope, with growth rates ranging from 4.25% to 6.74% per year. Key drivers: rising global nut consumption overall, the expanding plant-based food trend, and growing demand for roasted and flavored cashew varieties.

A shared consumer trend across both categories

Health-conscious consumers are driving demand for turmeric, ginger, cinnamon and black pepper for their perceived health benefits. At the same time, buyers — both end consumers and importing businesses — are increasingly looking for spices sourced through ethical procurement, environmentally responsible farming, and transparent supply chains. This trend lines up directly with the traceability focus that Vietnamese agri exporters, including Whitehorse Foodtech, are building around.

What this means for importers

With black pepper holding the largest share of the spice market and cashew demand continuing to grow, these remain two commodities worth building long-term supply relationships around rather than one-off purchases. Choosing a supplier that can demonstrate clear origin and quality standards will matter more as end buyers demand greater transparency.

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Sources:

• MarketDataForecast — Global Spices Market Size, Share, Growth, Trends & Analysis
• Mordor Intelligence — Global Cashew Market Report & Production Statistics

Figures are summarized in Whitehorse Foodtech's own words from the public reports above as of the publish date. Different research firms may report different numbers — please check the original sources for the full report and the most current data.