Global Cashew Milk Market Size By Type (Plain & Flavored), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, Independent Small Groceries, & Specialty Stores), By Packaging (Cartons, Pouches, Jars, Bottles, Cans, & Others), By Geographic Scope And Forecast

Cashew Milk Market Size And Forecast

Cashew Milk Market size was valued at USD 107.7 Million in 2021 and is projected to reach USD 195.6 Million by 2030, growing at a CAGR of 6.86% from 2022 to 2030.

Low fat and sugar content, along with a large number of lactose intolerant population is expected to contribute to the upswing of the market. Additionally, rising awareness about the health benefits of cashew milk such as an improvement in blood sugar control, eye health, heart health, iron deficiency, anemia, etc., acts as a driver of growth of the market. The Global Cashew Milk Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Cashew Milk Market Definition

Cashew milk? It's basically a plant-based drink made by blending cashews and water! Making it involves a bunch of stepsdrying the nuts, soaking them, washing, sieving, extracting the "milk," filtering it, cooling, and finally storing it. And get this, cashews aren't just for milk; they're used to make things like cashew bagasse, alcohol, cashew shell oil, and even nut meal! Cashew milk has really taken off as a business with all the new tech. The good stuff is creamy and packed with vitamins, minerals, healthy fats, carbs, and protein. Plus, it's lactose-free, making these plant-based milks a great option if you can't have dairy from animals.

Cashew milk is pretty great for your heart! Around 75% of its fat is the good kind – mostly unsaturated, particularly monosaturated fats. And it's not just heart-healthy; cashew milk also packs in nutrients and proteins, helps with blood clotting, and might even have some anti-cancer effects. Plus, it can lower cholesterol and boost your antioxidant defenses. It’s loaded with omega 6 fatty acids, which are super important for healthy cells and overall development, and it's easy on the stomach too.

Lots of companies are jumping on the cashew milk bandwagon, trying to make it even healthier. Take So Delicious Co., for example. They make an unsweetened cashew milk beverage that's non-GMO, soy-free, gluten-free, vegan, and eco-friendly – a truly dairy alternative, and low in calories! Of course, many companies add things to thicken it up and improve the flavor, like Xantham Gum and Guar Gum for thickness, and vanilla and cinnamon for taste. Basically, it's made by blending cashews with water.

Global Cashew Milk Market Overview

More and more people are drawn to plant-based diets, often because of animal rights. This is a big reason why the Cashew Milk market is booming! Think about itas of January 2021, there were around 79 million vegans worldwide – that's a huge market for cashew milk to tap into. Plus, it's a fantastic alternative for those who are lactose intolerant. Experts say about 68% of the world’s population struggle with lactose, making Cashew Milk an efficient alternative with a lot of health benefits over conventional milk. All those benefits are a great platform for the growth of the Global Cashew Milk Market. And don't forget the demand for frozen desserts! Companies are using cashew milk (and almond milk, etc.) to make delicious frozen treats. Cashew milk yogurts are another exciting addition to the product line. Companies are really trying to expand their vegan offerings, which fuels market growth. On top of all this, ongoing R&D is helping to make plant-based products last longer, which is a major boost for the Cashew Milk Market!

Along with the high prices of cashews globally, COVID 19 had a detrimental impact on the global cashew milk market due to production lines being closed and supply chains being disrupted globally in a bid to prevent the transmission of the virus. The widespread availability of conventional milk also is a significant restraint to the market. Changing lifestyle trends, where people are shifting towards products facilitating high immunity development, along with standardizing quality and implementation of good manufacturing policies further presents an opportunity for growth to the Global Cashew Milk Market.

Global Cashew Milk MarketSegmentation Analysis

The Global Cashew Milk Market is segmented on the basis of Type, Distribution Channel, Packaging, and Geography.

Cashew Milk Market by Type

• Plain• Flavored

When it comes to cashew milk, the market is basically split into two campsPlain and Flavored. Back in 2018, the plain stuff was king, raking in USD 27.5 million. People are becoming more health-conscious, and that creamy, plant-based milk is really hitting the spot. Plus, it's packed with goodies like Magnesium and Vitamin K! But hold on, because Flavored cashew milk is catching up fast. Experts predict it'll grow at a CAGR of 5.3% – that's pretty impressive! You can find it in all sorts of yummy options, like vanilla, coffee, and even cinnamon. It seems like everyone's tastes are changing, leading to more and more people reaching for those flavored varieties. Think salted caramel or strawberry! For example, White Wave Foods Company even has a Silk Vanilla cashew milk that's Non-GMO and preservative-free.

Cashew Milk Market by Distribution Channel

• Supermarkets/Hypermarkets• Convenience Stores• Online• Independent Small Groceries• Specialty Stores

Global Cashew Milk Market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online, Independent Small Groceries, Specialty Stores on the basis of Distribution Channel. The online Stores (E-Retail) segment is projected to grow with the highest CAGR in the forecast period. It is due to the E-Retail reaching a vast consumer base with quality products, and the underlying apprehension in many economies due to the pandemic.

Cashew Milk Market by Packaging

• Cartons• Pouches• Jars• Bottles• Cans• Others

Global Cashew Milk Market is segmented into Cartons, Pouches, Jars, Bottles, Cans, and others on the basis of Packaging. Cartons and bottles are expected to have a high Market prevalence in the given forecast period due to the high shelf life of cashew milk in cartons and bottles and buying of Cashew Milk in small amounts by the consumers.

Cashew Milk Market by Geography

• North America• Europe• Asia Pacific• Rest of the world

So, when we look at where Cashew Milk is popular around the globe, we can break it down by regionNorth America, Europe, Asia Pacific, and basically, the rest of the world. Right now, North America is the biggest market. Why? Well, people there are really into lactose-free options, so cashew milk is super popular and made a lot in places like the U.S. and Canada. Plus, people are changing what they eat and learning more about the health benefits of cashew milk. On top of that, the vegan crowd is growing, and more companies are making cashew milk there, which all adds up to big growth. But hey, Asia Pacific is expected to grow the fastest, like at 5.9% each year! That's because people in Asian countries have more money to spend, and they're becoming more aware of health. And, a lot of people there can't handle lactose, so cashew milk is a great option. You've even got companies like So Delicious and Elmhurst expanding into Asia Pacific.

Key Players

The “Global Cashew Milk Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Alpro, Danone SA, White Wave Services Inc., Forager Project, LLC, So Delicious Dairy Free, Blue Diamond Growers, Plenish Cleanse Ltd., Nutty life, LLC., Vitasoy, DREAM Blends among others.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In September 2019, Z Natural Foods announced their new Cashew Milk Powder, a healthy and natural alternative to traditional milk products.

• In June 2019, a Brazilian startup named Benni Alimentos launched a soluble cashew nut milk powder with a 2-year shelf life.

• In April 2021, Forager launched a Vegan Cashew Milk Ice Cream, with 5 cashew-based flavors.

• In January 2020, international brand Coffee-Mate launched a new plant-based creamer. Slightly sweet with a hint of almond, the decadent cashew milk creamer is available at retailers across the United States.

• In March 2021, Forager Project launched a new line of organic plant-based cheeses called Cheeseworks. The dairy-free cheeses include queso fresco, jack, shredded mozzarella, shredded parmesan and shredded jack. Using Forager Project’s probiotic cashew milk yogurt as the base, the company said the product can perform like regular cheese when it comes to melting and stretching.

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