Cashew Milk Market Overview:
Cashew Milk Market is projected to register a CAGR of 6.56% and reach a value of USD 229.1 million by 2027.
Cashews are a wonderful snack or meal replacement since they are high in protein and low in fat. Vitamin B2 (riboflavin), calcium, iron, zinc, and magnesium are also present. Cashew milk is a tasty beverage that has grown in popularity over time. It is frequently used in recipes as a dairy milk substitute. It is becoming increasingly popular as a healthier alternative for persons suffering from lactose intolerance, obesity, or diabetes.
As many underdeveloped nations lack the necessary supply of dairy products and experience health issues such as hunger, plant-based milk alternatives are seen as a viable solution. Increased health awareness, inclination toward boosting immunity and eating healthy, technological advancements in beverage industries, investment in RD, enhanced sensory attributes of the product, availability of flavor variants, low fat and sugar content, shortage of natural milk, and use of cashew milk in other products are all key drivers in the market's growth.
Market Segmentation:
The global Cashew Milk Market is segmented by packaging type, product category, and distribution channel.
Based on packaging type, the market is divided into three types of packaging: Cartons, Bottles, and others.
Based on category, the market is divided into Organic and Conventional segments.
The market is segmented into store-based and non-store-based distribution channels. The store-based market is further classified into Convenience Stores, Supermarkets, and Hypermarkets.
Regional Classification:
The cashew milk market is segmented into four regions: Europe, Asia Pacific, North America, and the Rest of the World. North America is predicted to have the largest share of the cashew nut milk market. This is because this is where most lactose-intolerant people live. The United States controls a significant chunk of the cashew milk business in the region.
Cashew milk market growth in Europe is likewise expected to be impressive. However, among all regions, Asia Pacific may experience the quickest development. This is because nations like India and China are establishing themselves as the primary cashew milk markets.
Competitive Landscape
The Key Cashew Milk Market Players is dominated by a few important companies. The cashew milk from central market key companies is completely free of lactose since it is plant-based. These key companies account for most of the market profit. They do so by implementing various market trends, such as offering a variety of cashew milk products like powder and yogurt.
Key Players:
Listed below are the key competitive companies of the cashew nut milk market with the location of their headquarters:
Earth’s Own Food Company Inc. (Canada)
- Califia Farms (US)
- Danone S.A.(France)
- Elmhurst Milked Direct LLC (US)
- Pacific Foods (US)
- Forager Project (US)
- RITA Food Drink Co. Ltd. (Vietnam)
- Hain Celestial Group (US)
- Plenish Cleanse Ltd. (UK)
- Rude Health (UK)
Industry News:
The cashew milk market is segmented into four regions: Europe, Asia Pacific, North America, and the rest of the World. North America is predicted to have the largest share of the cashew milk market. This is because this is where most lactose-intolerant people live. The United States controls a significant chunk of the cashew milk business in the region. This market growth in Europe is likewise expected to be impressive. However, among all regions, Asia Pacific may experience the quickest development thanks to the nations like India and China that are establishing themselves as the primary cashew milk markets.
At this year's ISM in Cologne, Germany, premium candy firm Chocolate Madagascar will debut its latest line of vegan bars made with fresh cashew chocolate. The brand has won numerous prizes and honors from Great Taste and the Academy of Chocolate. Its newest product, fine milk and white replacement chocolate variety made with pure cashews, provides a nutritious creamy alternative to milk, and the company grows cashew nuts, fine cacao, and cane sugar in Madagascar.
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