The cashew milk market is anticipated to grow at a CAGR of 18.18% to reach US$267.997 million in 2024 from US$98.352 million in 2018. Cashew milk refers to the plant-based milk produced from cashews, it has various nutritional benefits. Cashew milk has no cholesterol and is also free from casein as well as lactose, it is a great alternative to dairy-based products especially for people who are lactose intolerant.
According to the National Library of Medicine (NLM), approximately 65 percent of the human population has a reduced ability to digest lactose after infancy. Lactose intolerance in adulthood is most prevalent in people of East Asian descent, affecting more than 90 percent of adults in some of these communities.
Unsweetened cashew milk has a lower calorie content than compared to its plant-based counterpart soy milk as well as cow’s milk. The rising prevalence of drinking low calories drinks is anticipated to drive the market for cashew milk. Furthermore, the rising health consciousness amongst the population is also projected to fuel the market for cashew milk. However, the availability of substitute products such as plant-based milk such as soy and rice milk as well as cow milk is expected to hamper the cashew milk market growth. Product innovations by major players in the form of new flavors and varieties are expected to widen up the growth opportunities for the cashew milk market during the forecast period.
Growing health concerns.
Rising prevalence of lactose intolerance.
Availability of substitutes.
In December 2017, Campbell Soups Company acquired Pacific Foods Of Oregon LLC for $700 million.
The major players profiled in the Cashew Milk market include Danone, Pacific Foods of Oregon LLC, Califia Farms, So Delicious Dairy Free, Alpro, Provamel, Forager Project, Nutty Life LLC,
|Market size value in 2018||US$98.352 million|
|Market size value in 2024||US$267.997 million|
|Growth Rate||CAGR of 18.18% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Packaging, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Danone, Pacific Foods of Oregon LLC (CSC Brands L.P.), Califia Farms, So Delicious Dairy Free, Alpro, Provamel, Forager Project, Nutty Life LLC|
|Customization scope||Free report customization with purchase|
The cashew milk market has been analyzed through the following segments:
Plain Cashew Milk
Flavored Cashew Milk
By Distribution Channel
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the cashew milk market size by 2024?
A1. The cashew milk market is anticipated to reach a market size of US$267.997 million in 2024.
Q2. What is the size of the cashew milk market?
A2. Cashew Milk Market was valued at US$98.352 million in 2018.
Q3. What are the growth prospects for the cashew milk market?
A3. The cashew milk market is anticipated to grow at a CAGR of 18.18% over the forecast period.
Q4. What factors are anticipated to drive the cashew milk market growth?
A4. The rising prevalence of drinking low calories drinks is anticipated to drive the market for cashew milk.
Q5. Who are the major players in the cashew milk market report?
A5. The major players profiled in the Cashew Milk market include Danone, Pacific Foods of Oregon LLC, Califia Farms, So Delicious Dairy Free, Alpro, Provamel, Forager Project, Nutty Life LLC.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. CASHEW MILK MARKET BY TYPE
5.1. Plain Cashew Milk
5.2. Flavored Cashew Milk
6. CASHEW MILK MARKET BY PACKAGING
7. CASHEW MILK MARKET BY DISTRIBUTION CHANNEL
8. CASHEW MILK MARKET BY GEOGRAPHY
8.1. North America
8.2. South America
8.3.3. United Kingdom
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.5. Asia Pacific
8.5.3. South Korea
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investmentss and Deals
9.3. Strategies of Key Players
10. COMPANY PROFILES
10.2. Pacific Foods of Oregon LLC (CSC Brands L.P.)
10.3. Califia Farms
10.4. So Delicious Dairy Free
10.7. Forager Project
10.8. Nutty Life LLC
LIST OF FIGURES
LIST OF TABLES
Pacific Foods of Oregon LLC (CSC Brands L.P.)
So Delicious Dairy Free
Nutty Life LLC
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