Global cashew milk market was valued at USD 101.5 million in 2023 and is expected to reach USD 185.52 million in 2031, with a CAGR of 7.83% for the forecast period between 2024 and 2031. The market is driven by versatile uses of cashew milk, growing demand for dairy-free products, and evolving tastes and preferences of consumers.
Cashew milk is a great plant-based protein source for vegans, vegetarians, and other diets because of its high protein content. Its versatility stems from its buttery taste, creamy texture, and nutritional value, which make it favorable for baking, cooking, and creating recipes in addition to drinking raw milk. Cashews provide many advantages to both consumers and manufacturers, regardless of whether they are consumed alone or used in a cashew-based product such as cashew milk.
Cashew milk makes a thick and creamy base for smoothies, coffees, and teas, making it a dairy-free milk substitute. Due to its silky texture, it’s perfect for creating dairy-free ice creams, cheeses, yogurts, and creamy sauces. It helps in giving a rich mouthfeel to these dishes. Moreover, cashew milk tastes great as a reviving and wholesome drink. It is a popular substitute for dairy products because of its adaptability to be used in both savory and sweet dishes. It improves the flavor and texture of a wide range of food items.
Consumers looking to gain and maintain muscle mass select the brand with a higher protein concentration level. On the contrary, customers choose unsweetened or low-calorie cashew milk to help them lose weight. For instance, in September 2022, Vietnam-based Vinapro Group launched its cashew milk range, Richer Milk, in three variants, including cashew milk without sugar. The other two variants were cashew milk and barley cashew milk. The range was the country’s first cashew milk produced using native cashew nuts.
Growing Lactose-intolerant Population Drives Market Growth
The growing number of people intolerant to lactose is a catalyst for the growth of the cashew milk market. The lactose malabsorption rate in the world is around 65%. Lactose intolerance is caused by lactose malabsorption. People grappling with lactose intolerance seek alternatives to traditional dairy products, fuelling the demand for dairy-free options such as cashew milk, which has a creamy texture and is a nutritious alternative.
People managing lactose intolerance are drawn to cashew milk’s nutritional profile, which includes several minerals, vitamins, and healthy fats. Manufacturers are innovating and expanding their product offerings to align with the ongoing trend and capitalize on it, fueling the growth of the cashew milk market. In September 2022, a new plant-based, lactose-free, and low-calorie milk, Arummi Cashew Milk, was launched in Indonesia. The product was available online as well as offline through premium grocery stores.
Versatile Applications of Cashew Milk Fuel the Demand
Various culinary creations and beverage mixtures use cashew milk as a staple ingredient due to its rich and creamy texture and mild, sweet flavor. While baking cakes, muffins, and cookies, cashew milk adds thickness and moisture. Cashew milk is also a great dairy-free alternative in custards and puddings. Adding it to savory dishes like soups and sauces enhances their flavor and texture without compromising on the flavor and aroma of other ingredients. Apart from the kitchen, the beverage industry uses cashew milk as a base for preparing various types of smoothies, shakes, and cocktails. In October 2023, Elmhurst Milked Direct LLC expanded its unsweetened plant-based milk range by introducing Milked Coconuts & Cashews made using whole buttery cashews and rich coconut cream. The unsweetened product has a smooth thickness and can be used as a base in various other recipes.
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Innovation to Drive the Market Growth
Innovation in the form of new product development, providing a wide range of options to customers, drives the demand for cashew milk in the market. Manufacturers are continually working on developing products catering to the evolving tastes and preferences of the consumers. Unique formulations, flavors, and packaging appeal to consumers and add to the market’s growth. For instance, in September 2022, Z Natural Foods launched Organic Matcha Green Tea Cashew Milk powder, containing organic cashew milk along with organic matcha green tea and organic barley grass. The product claims to be rich in nutrients like calcium, amino acids, and omega-3 fatty acids.
Health-conscious consumers seek such incorporation of cashew milk into their favorite products to have access to the nutritional benefits of cashews.
North America Dominates the Market
North America held the dominant position in the global cashew milk market in 2023. The major driver behind the dominance is growing health awareness among people leading to increased demand for dairy alternatives. Cashew milk has gained abundant traction in the markets of the United States and Canada. With manufacturers expanding their product portfolios by innovating with flavors and formulations, the consumption of cashew milk in North America is the highest across the globe. In February 2023, US-based Clean Juice launched organic cashew milks made using USDA certified organic ingredients. The product has plenty of heart-healthy proteins and fats and low sugar levels, targeting the health-conscious consumers in the region.
Future Market Scenario (2024–2031F)
- Growing prevalence of lactose intolerance and dairy allergies are expected to drive the market in the future, with people preferring cashew milk as a better and more nutritious dairy alternative.
- Evolving consumer preferences for unique formulations, flavors, and packaging types will compel the manufacturers to produce such products, attracting a wider audience.
- Clean product trend, transparent labelling, and ethical production practices are expected to gain a competitive approach.
Report Scope
“Cashew Milk Market Assessment, Opportunities and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global cashew milk market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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The latest trending report Global Cashew Milk Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Cashew Milk market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 4.1% in the forecast period of 2020 to 2025 and will expected to reach USD 40 million by 2025, from USD 34 million in 2019.The Cashew Milk market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/47781-cashew-milk-industry-analysis-reportThe major players covered in Cashew Milk are:Russell Stover Candies(US)Nutpods(US)Milkadamia(US)So Delicious Dairy Free(US)Godiva(US)Britannia Industries Ltd.(India)Silk(US)Hain Celestial Group(US)By Type, Cashew Milk market has been segmented intoMilk Chocolate CashewCashew Coffee Nut MilkDairy Free Cashew MilkCashews Chocolate MilkBy Application, Cashew Milk has been segmented into:Drink To GoTakeawayRestaurant ServiceCoffeehouse ServicePersonal UseSupermarkets ServiceConvenience Stores ServiceVending Machines ServiceThe report offers in-depth assessment of the growth and other aspects of the Cashew Milk market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
)Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Cashew Milk Market @ https://www.decisiondatabases.com/contact/download-sample-47781The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Cashew Milk product scope, , market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Cashew Milk, with price, sales, revenue and global market share of Cashew Milk in 2018 and 2019.Chapter 3, the Cashew Milk competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Cashew Milk breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Cashew Milk market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Cashew Milk sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Cashew Milk Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-47781Other Reports by DecisionDatabases.com:Global Skim Milk Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Flax Milk Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Organic Milk Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
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The Global Cashew Milk Market is projected to reach USD 229.1 million by 2027.
The market is fueled by the rising trend of consuming dairy based cereal alternatives, and growing practices of vegan diet, concerns about antibody residues, or growth hormones in animal milk.
Cashew Milk are often highly preferred by the patients who suffer from radioiodine cancer, eczema, eyesight problem, weaker bone density, hypercholesterolemia, and allergic to dairy based products.
More than 16% European consumers try avoiding dairy products for these aids and cholesterol issues.The competitive landscape and company profiles offered in the report examine the key players in the Cashew Milk market.
The company profiles include data of established players and new entrants and are examined by using analytical tools like SWOT Analysis.Get sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/3413Key Players:Key participants include Whitewave Foods, Blue Diamond Growers, Daiya Foods Inc., Tofutti Brands Inc., SunOpta Inc., Fine Japan Co. Ltd., Hain Celestial Group, Galaxy Nutritional Foods, Inc., Nature's Choice B.V., and Vitasoy Australia Products Pty.
Ltd., among others.Further key findings from the report suggest:The overall nutritional supplement sales for children are expected to rise during the forecast period.
