IMARC Group, a leading market research company, has recently releases report titled “Cashew Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global cashew milk market trends, size, share, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the cashew milk market?
The global cashew milk market size reached US$ 111.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 179.3 Million by 2032, exhibiting a growth rate (CAGR) of 5.43% during 2024-2032.
What is Cashew Milk?
Cashew milk is a plant-based milk alternative derived from cashew nuts. It is rich in essential nutrients like magnesium, iron, and healthy fats, offering various health benefits. The milk is also low in sugar and calories, making it an ideal choice for people monitoring their caloric intake. It boasts a creamy texture and a nutty flavor, rendering it a favored option for both culinary and beverage applications. Additionally, cashew milk is often fortified with vitamins and minerals like calcium and vitamin D, enhancing its nutritional profile. It is also well-suited for those with lactose intolerance, as it is naturally lactose-free.
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What are the growth prospects and trends in the cashew milk industry?
The rising trend in veganism and the growing focus on health-conscious consumption are primary factors driving the demand for cashew milk. Its low calorie and sugar content make it particularly attractive for those pursuing weight management and a balanced diet, thereby acting as a significant growth driver. Additionally, as more consumers turn to plant-based and dairy-free alternatives, the market for cashew milk is witnessing substantial growth. Manufacturers are continually innovating, offering flavored versions and fortified options to cater to diverse consumer needs. Beyond its dietary applications, cashew milk is also finding its way into skincare and cosmetic products due to its moisturizing properties, further enhancing its market potential. The nutrient-rich profile of cashew milk makes it a beneficial ingredient in topical applications aimed at nourishing the skin. Moreover, its hypoallergenic properties make it suitable for consumers with sensitive skin, contributing to market expansion. Premium brands offering organic, non-GMO, and fortified cashew milk options are also strengthening the market. This taps into the growing consumer demand for high-quality, ethically sourced products. Cashew milk’s versatility is another strength, as it can be used in a range of culinary applications, from coffee creamers to cooking sauces, expanding its appeal.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Plain
- Flavoured
Breakup by Packaging:
- Cartons
- Bottles
- Others
Breakup by Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Danone
- Dream (SunOpta Inc.)
- Elmhurst Milked Direct LLC
- Forager Project LLC
- Pacific Foods of Oregon LLC (Campbell Soup Company)
- Plenish Cleanse Ltd. (Britvic plc)
- RITA Food & Drink Co. Ltd.
- Rude Health Foods Limited
- The Hain Celestial Group Inc
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