Maximize Market Research, a leading Healthcare business consultancy and research firm has published a report on the “Cashew Milk Market”. The total market opportunity for Cashew Milk Market was USD 49.40 Mn in 2023 and is expected to grow at a CAGR of 5.5 percent through the forecast period, reaching USD 71.86 Mn by 2030. As per the report, the global Cashew Milk Market is expected to be dominated by the North American and Asia Pacific regions to grow at a significant growth rate through the forecast period.
Cashew Milk Market Report Scope and Research Methodology
Market Size in 2023: USD 49.40 Million
Market Size in 2030: USD 71.86 Million
CAGR: 5.5 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 213
No. of Tables: 138
No. of Charts and Figures: 191
Segment Covered: By Type and Distribution Channel
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Cashew Milk Market Scope and Research Methodology
The market is for cashew milk Market analysis is a bottom-up technique to examine the competitive environment and market structure in depth in order to compute the size and growth of an industry. Key findings include things like elements that drive market growth both locally and globally, things that prevent growth from going further, and future opportunities resulting from technical advances. Regional study is conducted to provide insight into market leaders, penetration, and demographic implications on the industry. Target audiences, manufacturers, and the development of tailored advertising campaigns may all be better understood through market segmentation based on product and age groups. A competitive matrix has been built in order to analyze the competition in the Cashew Milk Market, which includes both established businesses and fresh entrants. The report includes a summary of each company’s earnings, financial situation, technical developments, recent adjustments, mergers, partnerships, collaborations, and marketing plans.
Cashew Milk Market Overview
Cashew milk is a non-dairy milk alternative made by combining water and cashews in a processing plant. It undergoes various stages, including drying, soaking, washing, sieving, extraction, filtration, cooling, and storage. Cashews are also used in the production of nut meal, alcohol, cashew shell oil, and cashew bagasse. With advancements in technology, cashew milk has strong economic potential. It is consistent with cream, rich in vitamins, minerals, healthy fats, carbs, and protein, and lactose-free, making it a practical alternative to animal milk.
Cashew Milk Market Dynamics
The cashew milk market is primarily driven by consumer awareness of its health benefits, including heart health, iron deficiency anemia, blood sugar control, eye health, skin health, cholesterol reduction, anti-cancer properties, antioxidant defenses, and minerals and proteins. The product is popular due to its easy digestibility and high omega-6 fatty acid content. The main consumers of dairy alternatives are lactose intolerant individuals. Companies like So Delicious Co. offer non-GMO, soy-free, gluten-free, vegan, environmentally friendly, and low-calorie unsweetened cashew milk beverages. Growing concerns about animal rights are expected to influence the market.
Cashew Milk Market Regional Insights
The growing number of vegans in North America has increased demand for plant-based milk and cashew milk. This is due to altered eating patterns and increased knowledge of its benefits. Retailers and producers like White Waves Services Inc., Forgar Project, Provamel, and So Delicious are helping meet customer demand for cashew milk.
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Cashew Milk Market Segmentation
by Type
- Plain
- Flavored
Based on Type, The Plain segment is predicted to grow at the highest CAGR due to increasing health awareness and demand for plant-based milk with a creamy texture. The market is also influenced by the availability of nutrients like magnesium and vitamin K. Flavored cashew milk is expected to grow at the fastest CAGR because of its diverse product lines, including vanilla, coffee, coconut, and cinnamon. This increase in flavored cashew milk is driven by shifting customer preferences, with options like strawberry, Silk Vanilla, and salted caramel. White Wave Foods Company introduced silk vanilla cashew milk as part of a non-GMO effort.
by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
Based on Distribution Channel, Supermarkets/Hypermarkets are expected to grow at the highest CAGR during the forecast period due to their advantages such as scanning products before buying and store associates helping customers choose the best products. Cashew milk distribution is primarily distributed through supermarkets like Reliance Fresh, Big Bazar, and Easy Day. Online distribution channels, such as Alibaba, Amazon, Walmart, Big Basket, Nature’s Basket, Luckyvitamin.com, and Delights Food, are expected to grow at the fastest CAGR. Forager Project Company has partnerships with various online portals, including prime now, fresh direct, mylk guys, Instacart, peapod, thrive market, and milk and eggs, in addition to its own portal.
Cashew Milk Market Key Competitors include:
North America
- Califia Farms
- Elmhurst Milked Direct LLC
- Pacific Foods
- Forager Project
- JOI
- MALK Organics
- blue diamond growers
- ALPRO
- Elmhurst Milked Direct LLC
- Earth’s Own Food Company Inc.
Europe
- Plenish
- Rude Health
- provamel
- Danone S.A.
APAC
- Dream Blend SOLUTION
- RITA Food & Drink Co. Ltd.
MEA
- Ripe organic
- Nutty life
- silk
- so good
- inc
Key questions answered in the Cashew Milk Market are:
- Who held the largest market share in the Cashew Milk Market?
- What are the opportunities for the Cashew Milk Market?
- What are the strategies used by competitors in the Cashew Milk Market?
- What are Cashew Milk Devices?
- What is the current growth rate of the Cashew Milk Market?
- Who are the key players in the Cashew Milk Market?
- What are the growth prospects in developing countries for the Cashew Milk Market?
- Which segment is expected to witness the fastest growth and why in the Cashew Milk Market?
- What are the factors affecting growth in the Cashew Milk Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segments | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Application, Component, Technology, End User, and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
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Citrus Fiber Market–The market size is expected to reach USD 72.6 Bn by 2030 at a CAGR of 5.9 percent during the forecast period. The growing rate of worldwide consumption offers bigger and better opportunities for citrus fiber, including its use as plant-based meats.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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