Global Cashew Milk Market Extends at a Healthy CAGR of 6.15% by 2030

Introduction

The Global Cashew Milk Market Size was valued at USD 44.05 billion in 2021 and is projected to reach USD 75.37 billion by 2030, registering a CAGR of 6.15% from 2022 to 2030.

In a processing plant, cashews and water are combined to produce cashew milk, an alternative to dairy milk. The final product of a cashew mill undergoes multiple stages of processing, including drying, soaking, washing, sieving, extraction, filtration, cooling, and storage. In addition, cashews have been used to create numerous products, such as nut meal, alcohol, shell oil, and cashew bagasse. With the advancement of technology, cashew milk has emerged as a product with considerable commercial potential. In addition to resembling cream and being rich in vitamins, minerals, healthy fats, carbohydrates, and protein, high-quality cashew milk is lactose-free, making plant-based milk products a practical substitute for animal milk.

75 percent of the fat in cashew milk is comprised of unsaturated and indistinguishable monounsaturated fats, which are beneficial to heart health. In addition to its nutritional and protein benefits, cashew milk promotes blood clotting, has anti-cancer properties, reduces cholesterol levels, and fortifies antioxidant defences. Not only is it rich in omega-6 fatty acids, which are essential for the growth and health of cells, but it is also easy to digest. Multiple companies are attempting to market the health benefits of cashew milk. So Delicious Co., for instance, sells unsweetened cashew milk, which is non-GMO, soy-free, gluten-free, vegan, environmentally friendly, and low in calories. Many market participants do, however, use additives that contribute to cashew milk's thickness and flavour, such as Xantham Gum and Guar Gum for thickening and vanilla and cinnamon, respectively, for flavouring. It is made from cashews and filtered water.

Market Dynamics

Increasing Demand for Plant-Based Milk Products is driving the market

The development of plant-based foods is just one of many factors contributing to the expansion of the market. In contrast, cashew milk is heavily promoted as a vegetable beverage rich in calcium. Due to its low sugar and fat content, it attracts customers. Cashew milk is gradually replacing traditional dairy milk among many consumers, and key players are gaining prominence in the restaurant industry. In response to this trend, companies have developed gluten-free cashew milk. In addition to the major players, startups are profiting from the trend toward plant-based and non-dairy food products. Due to the alarmingly high mortality rate associated with high cholesterol, the demand for low-fat dairy products such as cashew milk has risen. People are more likely to consume cashew milk if they lack vitamin B12 and B2. The market for cashew milk is also affected by the demand for frozen desserts. The portfolios of value chain participants are expanding to include nondairy products, such as frozen desserts made with coconut milk, almond milk, and cashew milk.

Health benefits associated with cashew milk

Concerns about weight management, an emphasis on weight loss and maintenance, improvements to blood clotting, a reduction in cholesterol, aiding in the treatment of iron-deficiency anaemia, and an emphasis on blood sugar spike control are some of the factors driving market growth. In addition to its high calcium, vitamin E, vitamin D, fibre, and calorie content, cashew milk has been shown to be highly effective at boosting antioxidant levels, providing low sugar and calorie content, and serving as a dependable source of calcium. This promotes bone health, digestive wellness, and weight control. In addition to rising vegan diet practises, concerns about antibody residues or growth hormones in animal milk, preference for cereal-based milk, and avoidance of dairy-based products for medical conditions such as radioiodine cancer, eczema, eyesight problems, weakened bone density, and hypercholesterolemia, the demand for cashew milk is on the rise.

Regional analysis of the Global Cashew Milk Market

The market is segmented by region into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. The vast majority originated in North America. Due to the widespread adoption of lactose-free products, high demand and production in countries such as the United States and Canada are driving market expansion. This is a result of altered eating habits and greater awareness of the benefits. The increasing number of vegans in North America has increased the demand for plant-based milk and the consumption of cashew milk. During the forecasted period, the Asia-Pacific market will grow the fastest. Increased awareness, changes in taste and preference, and health-related concerns all contribute to the increase. Due to rising disposable income and the health benefits of these goods, consumers are spending more on them.

Key Highlights:

• The Global Cashew Milk Market was valued at USD 44.05 billion in 2021 and is projected to reach USD 75.37 billion by 2030, registering a CAGR of 6.15% from 2022 to 2030.
• The Global Cashew Milk Market is segmented by type, distribution channel and region. Based on type, the market is bifurcated into plain and flavoured. The market for plain cashew milk was the largest worldwide.
• By Distribution channel, the market is categorized into Supermarkets/Hypermarkets, Convenience Stores and Online. The main distribution channel was supermarkets and hypermarkets.
• According to the region, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The majority came from North America.

Competitive Players

Competitive analysis of the Global Cashew Milk Market

1. White Wave Services Inc.
2. Forager Project
3. Provamel
4. Plenish Cleanse Ltd.
5. Nutty Life, LLC.
6. So Delicious Dairy Free
7. Blue Diamond Growers
8. Cashew Dream
9. Danone SA
10. Alpro.

Recent Developments

Recent Development by the Key Players:

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

Segmentation

Cashew Milk Market Segmentation

By Type

• Plain
• Flavoured

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online

By Region

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa