Cashew Milk Market Size, Share, Analysis, Trends, Growth Report, 2032

Cashew Milk Market Insights

According to a report from Zion Market Research, the global Cashew Milk Market was valued at USD 51.94 Million in 2023 and is projected to hit USD 93.11 Million by 2032, with a compound annual growth rate (CAGR) of 6.7% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Cashew Milk industry over the next decade.

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The report analyzes the global cashew milk market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cashew milk industry.       

Global Cashew Milk Market: Overview

Cashew milk is made by blending cashews with water. It is a creamy lactose-free liquid which is a perfect alternative to milk. Marketers sell cashew milk with several excipients like thickening agents namely guar gum and xanthan gum, flavoring agents namely vanilla and cinnamon, and many others.

Cashew milk is known as non-dairy milk as it does not comprise lactose. It is popular among people who are lactose intolerant and want LDL cholesterol-free drinks. It comprises low-fat content materials when compared to other nuts. These are majorly unsaturated fats. It is very beneficial in coronary illness and stroke.

Global Cashew Milk Market: Growth Factors

Increasing awareness of people about the benefits of cashew milk such as skin health, eye health, blood sugar control, iron deficiency anemia, heart health and many more is propelling the global cashew milk market growth. Moreover, it also aids in blood clotting, increases antioxidant defenses, and has anti-cancer effects. It is easily digestible and has enormous omega-3 fatty acids, which further boosts the global cashew milk market growth.

Growing concerns over increasing animal rights and a surge in the adoption of a vegan diet are the key factors fuelling the growth of the global cashew milk market.  Several companies are launching cashew milk with distinct features and quality to attract consumers like non-GMO, unsweetened, soy-free, eco-friendly, gluten-free, low calorie, dairy alternative, and many others.

The rising concern for individual well-being induced people to count on the nutritional value of the food items they consume and hence demand for cashew milk consumption has increased significantly. Vigorous campaigns launched by the companies to induce people to switch to cashew drinks are also expected to boost market growth. Cashew milk is promoted as a calcium-rich plant-based drink to increase the consumer base in the global cashew milk market.

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Global Cashew Milk Market: Segmentation

The cashew milk market is divided on the basis of milk type, packaging type, distribution channel, and region.

By milk type, the market is segmented into flavored and plain.

The packaging type segment is further segregated into bottles, cartons, and others.

Based on distribution channels, the market is further split into supermarkets & hypermarkets, convenience stores, online, and others.

Cashew Milk Market: Report Scope

Global Cashew Milk Market: Regional Analysis

North America holds the largest share of the global cashew milk market owing to the huge demand and manufacturing of cashew milk in the region. Countries like Canada and the US have enormous demand for lactose-free products and hence boost the regional market. Furthermore, the changing lifestyle of people and the dwindling interest in consumers in plant-based products are creating a huge demand for cashew milk in the region.

Asia Pacific is expected to grow significantly with a high CAGR during the forecast period owing to the increasing per capita and disposable income of the people in the region along with growing health consciousness among people.

Global Cashew Milk Market: Competitive Players

Some of the key players in the cashew milk market are 

• So Delicious Dairy Free
• Danone
• Forager Project
• Silk
• Elmhurst Milked Direct LLC
• Nutty Life
• LLC
• Plenish
• PACIFIC FOODS OF OREGON
• LLC
• RITA FOOD AND DRINK CO. LTD.
• Rude Health
• among others. 

The global cashew milk market is segmented as follows:

By Milk Type

• Flavored and Plain

By Packaging Type

• Bottles
• Cartons
• Others

By Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Online
• and others.

Global Cashew Milk Market: Regional Segment Analysis

• North America

  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa