Global Cashew Milk Market is valued approximately at USD xx Billion in 2020 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2021-2027. Cashew milk is non-dairy healthy product which is lactose free and rich in zinc, iron, vitamins, magnesium and phosphorus. The global Cashew Milk market is being driven by increasing lactose intolerant consumers. According to Ambulatory Surgery Center Association, around 65% of people have a reduced ability to digest lactose and more than 70% people of East Asian descent have prevalence of lactose intolerance. The increase in product launches acts as a driving factor for the market growth. For instance, in 2019, Brazil’s company Benni Alimentos launched cashew milk powder which has 2-year shelf life. Also, in September 2021, The Switch Fix with Goodmylk launched Mylky Way Deep Pore Cleansing Mylk that nourishes the skin. Furthermore, increase in milk consumption, enhancing food & beverage industry, growing vegan population and increasing demand for milk protein in daily lifestyle will provide new opportunities for the global Cashew Milk industry. However, high price of the product may impede market growth over the forecast period of 2021-2027.
The key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World are studied for regional analysis of the global Cashew Milk Market. North America is the leading region across the world in terms of market share owing to high growth in vegan population and increase in availability of cashew milk. Whereas Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to rising introduction of plant-based milk products, increasing health-conscious consumers and increasing investments by the private companies in the region.
Major market player included in this report are:
White Wave Services Inc.
Plenish Cleanse Ltd.
Nutty life, LLC.
So Delicious Dairy Free
Blue Diamond Growers
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative apects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Cashew Milk Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers