Global Cashew Milk Market By Type (Milk Chocolate Cashew, Cashew Coffee Nut Milk?, Dairy Free Cashew Milk, and Cashews Chocolate Milk), By Application (Drink To Go, Takeaway, Restaurant Service, Coffeehouse Service, Personal Use, Supermarkets Service, Convenience Stores Service, and Vending Machines Service), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2020-2029

Cashew Milk Market Overview

Global cashew milk markets were valued at US$ 43.8 Million in 2021. They are expected to increase by 5.3% between 2023-2032.

Increased awareness about the many benefits of cashew dairy products, such as heart health, iron deficiencies, anemia, blood sugar control, and skin health, are key factors driving the market.

Global Cashew Milk Market Scope:

Type Analysis

Due to growing health consciousness, there is a high demand for plant milk in creamy fluid texture. Plain cashew milk dominated the global market in 2021, with revenue exceeding US$ 27.5 million. The segment is driven by its richness in vitamins, and minerals, such as vitamin K and magnesium. For texture and natural sweetness, many companies use wholesome date, which is rich in fiber, vitamin B6, potassium, and iron. Forger Project introduced unsweetened plain organic cashew milk without added sugar and carrageen. It provides medium-chain triglycerides, a form of saturated fatty acid that is good for your heart and brain.

Flavored milk with cashew flavor is the fastest-growing segment. This market will grow at a 5.3% CAGR over the forecast period. Flavored cashew is now available with cinnamon, vanilla, coconut, and other flavors. Flavored cashew milk is increasingly popular because of changing taste preferences and tastes. There are many flavors of cashew milk available, such as strawberry flavored, silk vanilla, and salted caramel flavored. White Wave Foods Company introduced silk vanilla cashew milk under the Non-GMO Project with unique creaminess and no preservatives.

Distribution Channel Analysis

In 2021, hypermarkets and supermarkets accounted for 46.5% of the largest distribution channel. This channel is gaining popularity due to its advantages, such as the ability to scan products before purchasing and the presence in the store of an associate who can help customers choose the right product. This influences their buying decision. For various companies, the largest distributors of cashew milk are supermarkets such as Big Bazar and reliance fresh.

From 2023 to 2032, the online distribution channel will grow at an average CAGR of 5.7%. To reach a large consumer base, companies have begun tying up and introducing their E-portals, such as Walmart, Amazon, Big baskets, nature’s baskets, luckyvitamin.com, and delights food. For example, Forager Project Company has its portal and tie-ups with other online outlets, such as Prime Now, Fresh Direct, mylk Guys, Instacart, and a thriving market.

Key Market Segments

By Type

• Plain
• Flavored

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online

Market Dynamics

Cashew milk also contains nutrients and protein, aids in blood clotting, and has anti-cancer and antioxidant effects. It also lowers cholesterol. It is accessible to digest and rich in omega 6, which has driven the demand for this product. People suffering from lactose intolerance, such as cashew milk, are significant consumers of alternative dairy products.

Many companies offer cashew milk with high quality and unique features. So Delicious Co., for example, offers unsweetened cashew milk beverages. It is non-GMO and soy-free. A growing number of animal rights concerns drive consumers to choose a vegan diet.

Global demand is rising due to rising consumer attention on well-being, such as high nutritional value intake and high levels of vitamins and proteins offered by milk replacements. Companies spend on research and development to distribute their products online and make them accessible to consumers. Elmhurst offers cashew milk with 11 cashews for every glass. The product is non-GMO and does not contain high fructose corn syrup or artificial flavor. It is also non-GMO, dairy-free, and gluten-free.

Regional Analysis

The largest share, 36.8%, was held by North America in 2021. Due to the widespread adoption of lactose-free foods, there is a high demand for these products and increased manufacturing in the U.S. and Canada. This is due to changes in eating habits and awareness about the health benefits. An increase in demand and adoption of plant-based milk has led the population of North America to consume cashew milk. This is due to the growing vegan population. In North America, there has been a rise in the availability of cashew milk due to increased producers and sellers. White Waves Services Inc.; Forger Project, Provamel; So Delicious all help meet the demand for cashew dairy products.

Asia Pacific is the growing region, growing at a CAGR of 5.9% during the coming years. The increase in awareness, changes in taste and preference, and health concerns are the main factors behind this growth. Due to the increasing disposable income and the health benefits associated with these products, consumers are spending more on them. A key driver of the market in this region is the increasing focus on cashew milk consumption due to the growing demand for high lactose intolerance and non-dairy dairy products. APAC is witnessing the expansion of companies like Elmhurst and So Delicious.

 Key Regions and Countries covered in the report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Companies are launching new products as part of their strategic initiatives, fueling the market’s growth. So Delicious Dairy Free Blue Diamond Growers; Cashew Dream. Danone SA. and Alpro. Pacific Food launched four cashew-milk flavors, including vanilla unsweetened, original unsweetened, and vanilla. These flavors were created to enhance nourishment products that are organic and ethical.

Market Key Players:

• Forager Project
• Provamel
• White Wave Services Inc.
• Plenish Cleanse Ltd.
• Nutty Life, LLC.
• So Delicious Dairy Free
• Blue Diamond Growers
• Cashew Dream
• Danone SA
• Alpro
• Other Key Players

For the Cashew Milk Market research study, the following years have been considered to estimate the market size: