Cashew Milk Market

Cashew Milk Market Size(2024 To 2029):

Cashew Milk Market size is estimated at USD 100.33 million in 2024 to achieve USD 128.05 million by 2029 to grow at a CAGR of 5.0% during the forecast period 2024 - 2029. 

Cashew milk is a creamy liquid made by mixing cashews with water. It is a lactose-free alternative to milk. Cashew milk marketers sell the product with a large number of excipients, namely thickening agents such as xanthan gum and guar gum, flavoring agents such as vanilla and cinnamon, and other excipients. Cashew milk is non-dairy milk since it comprises of no lactose. In its most major shape, it's produced using separated water and cashews. Cashew milk is effectively processed by methods for a great many people who are lactose illiberal. Not at all like dairy milk, it is LDL cholesterol-free and is inordinate in B vitamins, copper and magnesium. They likewise have a low general fats content material when contrasted and diverse nuts. Roughly 75% of the fats in cashews are unsaturated fats, regularly oleic corrosive, the indistinguishable monounsaturated fats decided in olive oil, which means the fat found in cashews is heart-energizing. It can help diminish your threat of stroke and coronary illness. 

Cashew Milk Market Drivers:

Various factors, such as the appearance of plant-based foods, are contributing to the growth of the market. Similarly, cashew milk is widely advertised as a calcium-rich vegetable drink. Its low fat and sugar properties attract the consumers.

Cashew milk market companies are gaining importance in the restaurant industry as cashew milk is gradually replacing conventional dairy milk for many consumers. Companies are capitalizing on this trend and developing gluten-free cashew milk. For example, Sanitarium, a health and wellness company, excels in the production of cashew milk, gluten, and cholesterol. An alarming death rate from high cholesterol in patients has fueled the demand for low-fat dairy such as cashew milk. People with vitamin B2 and B12 deficiencies increasingly choose cashew milk. Another trend that surrounds the cashew milk market is the demand for frozen desserts. Stakeholders in the value chain are expanding their portfolio of non-dairy products, such as frozen desserts made from cashew milk, almond milk, and coconut milk.In addition to major players, even startups are taking advantage of the trend for plant and non-dairy food products. For example, the manufacturer of plant-based food products, Benni Alimentos, has announced the launch of cashew soluble milk powder to meet consumer requirements for plant-based milk substitutes. Companies are increasing R&D to increase the shelf life of plant-based products. This research has helped companies gain a competitive advantage over others, as conventional herbal products degrade in a short time, causing food waste problems. Therefore, new companies in the cashew milk market are developing herbal products with a longer shelf life by introducing milk powder. 

Cashew Milk Market Restraints:

Cashew milk is expensive in consumers' pockets, compared to conventional dairy milk. Therefore, the companies in the cashew milk market are increasing the production capacity to produce cashew milk powder so that consumers do not have to throw out cashew milk, as milk has a shorter shelf life. The increasing awareness of cashew milk's various health benefits stimulates growth. For example, cashew milk helps lose weight; it is suitable for liver health and has antioxidant properties. It also helps improve immunity and reduces the risk of heart disease, improves the digestive system, reduces cholesterol levels, and helps treat inflammation.But still, the high price of cashews hampers world market demand for cashew milk. Few factors tending towards the global cashew milk market are mergers and acquisitions between cashew market players and cashew suppliers and high investments in the food industry. The leading players in the market can increase their market share by integrating upstream that is, collaborating with cashew nut suppliers and offering gluten-free and organic products on the market.

REPORT COVERAGE:

 This research report on the global cashew milk market has been segmented and sub-segmented based on packaging, product type, distribution channel, and region. 

Cashew Milk Market - By Packaging:

• Cartons

• Pouches

• Jars

• Bottles

• Cans

• Others

Cashew Milk Market - By Product Type:

• Plane Cashew Milk

• Flavoured Cashew Milk

Cashew Milk Market - By Distribution Channel:

• Convenient Stores

• Hypermarkets/Supermarket

• E-Commerce

Among these cartons, the segment is anticipated to contribute to the substantial revenue share in the global cashew milk market over the forecast period. The bottles segment is followed by cartons segment in the global cashew milk market. Among these, hypermarkets/supermarkets, the segment is anticipated to contribute for major revenue share whereas, the e-Commerce segment is anticipated to expand at a significant CAGR in the global cashew milk market, owing to the growing adoption of e-Commerce worldwide. On the basis of product type, the global cashew milk market is categorize as plane cashew milk and flavoured cashew milk, wherein flavored cashew milk has significant revenue share and is anticipated to register significant CAGR over the forecast period.

Cashew Milk Market - By Region:

• North America (U.S. and Canada)

• Europe (U.K., France, Germany and Rest of Europe)

• Asia Pacific (Japan, China, India and Rest of APAC)

• Latin America (Brazil, Mexico and Rest of Latin America)

• Middle-East & Africa (GCC and Rest of MEA)

Among the regions, the North America cashew milk market held a prominent share of about 34% in 2018. Rising demand and production in nations like the United States and Canada are promoting Cashew Milk market growth because of the adoption of lactose-free products. This is attributed to a change in eating habits and a surge in awareness of the benefits. The growth of the vegan population in North America has resulted in an increased demand for herbal milk, which has led to the rise in the adoption of cashew milk in this area. Additionally, the increase in the number of vendors and manufacturers has improved the availability of cashew milk in North America. Companies like White Waves Services Inc. Proyecto Forger; Provamel and So Delicious are a few companies that help to meet consumer demand for cashew milk.

Asia-Pacific is estimated to be rapidly evolving the Cashew Milk market, with a compound annual growth rate of about 6% over the forecast period. This due to the rise in awareness, changes in taste and preferences, and health concerns of the users. Consumers, due to higher disposable income and the health benefits associated with the products are spending more on the purchase of these products. The heightened focus on cashew milk consumption because of the growing demand for dairy alternatives and high lactose intolerance is a crucial factor in the region's market boom.

KEY MARKET PLAYERS:

Key market players of Cashew Milk Market  are Blue Diamond Growers, Forager Project, WhiteWave Services, Inc, VITASOY, Cashew Dream, SO DELICIOUS DAIRY FREE, Provamel, Dream Blends, Alpro

RECENT HAPPENINGS IN THE MARKET:

• The organic and vegan company Forager Project, based in San Francisco, introduced coconut milk and coconut cashew yogurt, a range of creamy and delicious high-fat, herbal milk and yogurt made from cashews and coconuts. Based on the success of its popular cashew milk and cashew yogurt, the fastest-growing dairy-free yogurt in the United States.

• Danone expanded its product line by acquiring American soy milk producer White Wave Foods for a modest sum of $ 12 billion.

• Z Natural Foods is proud to announce its new cashew milk powder, a healthy and natural alternative to traditional dairy products. Cashew produces sweet, tasty, dairy-free milk that is particularly suited to lactose-free, vegan, and vegetarian lifestyles.