(Food-Beverage-News.Com, January 29, 2018 ) The Global Cashew Milk market size was around USD XX billion in 2017. It is expected to grow at a CAGR of XX% to reach USD XX billion by 2022. Cashew milk is a creamy liquid prepared by blending cashews with water. It is a lactose-free alternative to milk. Cashew milk market players are selling the product with a large number of excipients namely thickening agents like xanthan gum and guar gum, flavouring agents like vanilla and cinnamon, and other excipients.
Macroeconomic factors driving the global market are growing economy, the rapid rate of urbanization, changing lifestyle, and rising domestic income. The development of the global cashew milk market is also propelled by rising health consciousness among consumers, growing demand for dairy-free products, and rising demand for high nutrition and less fat containing food and beverages. The advantages of cashew milk including free from lactose attracts health-conscious people which are driving the global cashew milk market.
But still, the high price of cashews hampering the demand for global cashew milk market. Few factors trending the global cashew milk market are mergers & acquisitions between cashew milk market players and cashew suppliers and high investment in the food industry. Major players in the market can grow its share by backward integration i.e. collaboration with cashew suppliers, and offering gluten-free and organic products in the market.
The global cashew milk market is categorize on the basis of packaging, distribution channel, product type, and region. Based on packaging type, global cashew milk market is categorize into cartons, pouches, jars, bottles, cans, and others. Among these cartons, segment is anticipated to contribute for the substantial revenue share in global cashew milk market over the forecast period. Bottles segment is followed by cartons segment in the global cashew milk market. Based on distribution channel, the global cashew milk market categorize as convenient stores, hypermarkets/supermarket, and e-Commerce. Among which, hypermarkets/supermarket, the segment is anticipated to contribute for major revenue share whereas, e-Commerce segment is anticipated to expand at a significant CAGR in the global cashew milk market, owing to growing adoption of e-Commerce worldwide. On the basis of product type, the global cashew milk market is categorize as plane cashew milk and flavoured cashew milk, wherein flavoured cashew milk has significant revenue share and is anticipated to register significant CAGR over the forecast period.
By geographies, the market is split into Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa. North America is anticipated to lead the market, due to high demand for healthy and low-calories containing food products across the region. Europe is followed by North America and is anticipated to expand at a significant growth rate in cashew milk market, owing to increasing health awareness among consumers across the regions. Asia-Pacific accounts for relatively high volume share and is anticipated to expand at a significant growth rate in global cashew milk market, owing to easy availability of raw material across the region. On an average, the market will have a robust growth over the aforementioned forecast period, the rapid rate of urbanization, rapidly growing population, and changing consumer lifestyle across the globe being a counterfeiting factor.
Few players in the global cashew milk market Blue Diamond Growers, Forager Project, WhiteWave Services, Inc., VITASOY, Cashew Dream, SO DELICIOUS DAIRY FREE, Provamel, Dream Blends, and Alpro.
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