Cashew Milk Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Plain Cashew Milk, Flavored Cashew Milk), By Packaging (Cartons, Bottles), By Distribution Channel (Online, Offline), And By Geography – Forecast From 2019 To 2024

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.

DRIVERS

Growing health concerns.
Rising prevalence of lactose intolerance.

RESTRAINT
Availability of substitutes.

INDUSTRY UPDATES

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,

Cashew Milk Market Scope:

Report Metric	Details
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
Base year	2018
Forecast period	2019–2024
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

Segmentation

The cashew milk market has been analyzed through the following segments:

By Type

Plain Cashew Milk
Flavored Cashew Milk
By Packaging

Cartons
Bottles
By Distribution Channel

Online
Offline

By Geography
North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others

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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.

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