The
global Cashew Milk Market size is expected to reach USD 53.2
million by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 5.0% from 2019 to 2025. Growing awareness regarding
benefits of cashew milk such as weight loss, strengthening of immunity,
beneficial for lever health, and antioxidant support. Moreover, it reduces the
risk of heart diseases, lowers the cholesterol level, improves digestive
system, and treats inflammation, thereby driving the demand for the
product.
Growing
penetration of cashew milk as a diary alternative is attributed to increasing
number of individuals with lactose intolerance. Moreover, rising health
consciousness among the consumers and growing demand for high nutrition and
reduced fat beverages are expected to drive the market in the coming years.
Companies are spending on research and development to distribute the product
through emerging online channels and make it feasible for the consumers to
consume it.
Plain
milk held the largest share of 72.7% in 2018. High demand for plant based milk in
the creamy fluid texture due to increasing health consciousness is driving the
segment. Flavored milk is expected to expand at the fastest CAGR of 5.3% over
the forecast period. Changing taste and preferences are resulting in high
consumption of flavored milk. For instance, White Wave Foods Company launched
silk vanilla cashew milk under Non-GMO project with special creaminess and no
preservatives.
Online
distribution channel is expected to expand at the fastest CAGR of 5.7% over the
forecast period. Companies are tying up with online retailers as well as
introducing their e-portals such as Alibaba, Amazon, Walmart, Big basket,
nature’s basket, luckyvitamin.com, and delights food (India). For instance, So
Delicious Co. has tied up with Amazon to distribute its product and reach a
vast consumer base.
North
America was the largest regional market with a revenue of USD 12.9 million in
2018 and is expected to maintain its lead over the forecast period. Companies
are engaging themselves into development and new product launches owing to
growing trend of consumption of nutrients, vitamins, and proteins. For
instance, So Delicious Co. provides unsweetened cashew milk beverage through
various distribution channels in order to cater to the vast consumer base.
Key
players in the market include White Wave Services Inc.; Forager Project;
Provamel; Plenish Cleanse Ltd.; Nutty life, LLC.; So Delicious Dairy Free; Blue
Diamond Growers; Cashew Dream; Danone SA; and Alpro.
Request
a sample copy or view summary of this report @ https://www.grandviewresearch.com/industry-analysis/cashew-milk-market
Further
key findings from the report suggest:
- By type, plain cashew milk led the global market
with a share of 72.7% in 2018
- North America dominated the market in 2018 with a
revenue of USD 12.9 million in 2018. This trend is projected to continue
over the next few years
- APAC is anticipated to witness high demand on
account of increase in awareness and change in lifestyle
- The cashew milk market is highly competitive in
nature with the main players including White Wave Services Inc.; Forager
Project; Provamel; Plenish Cleanse Ltd.; and Nutty life, LLC
- Various manufacturers are concentrating on new
product launches and capacity expansion in order to estimate existing and
future demand patterns from upcoming product segments.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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