Cashew milk is plant-based and non-dairy milk beverage obtained from the processing of cashew and water. The processing of cashew milk involves processes such as drying, soaking, washing, sieving, extraction, filtration, cooling, and storage of the end product. Earlier cashew has been used for producing cashew shell oil, alcohol, nut meal, cashew bagasse, and others, with the development in innovation and technology, the cashew milk became a commercial product. The good quality of cashew milk has a creamy consistency and constitutes vitamins, minerals, healthy fats, carbohydrates, protein, and free of lactose thus, plant-based milk products have become an alternative source of milk requirement.

Market scope and structure analysis:

COVID-19 Scenario Analysis:

• The COVID-19 pandemic has initially caused the manufacturing units to shut down in many countries. The shortage of manpower due to fear of the communicable coronavirus has caused a loss in production to many companies. 
• The supply chain has been highly disrupted due to the shutdown of distribution channels such as supermarkets and retail stores, thus the revenues and sales have faced a downturn in the cashew milk market.
• The manufacturing companies faced a shortage of raw material as the supply chain of raw material was interrupted due to decreased mobility.
• The cashew milk market is anticipated to increase in terms of sales as the outbreak has changed consumer buying behavior. Consumers are more inclined toward healthy food alternatives to boost immunity.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Cashew milk is considered as an alternative source of natural milk and milk products due to their nutritive, sensory, and functional properties. Certain developing countries, lack in required supply of the dairy products and face health problems such as malnutrition, thus the plant-based milk alternative is considered to be beneficial as a substitute. The sufficient availability of cashew nuts, increase in health awareness, inclination toward boosting immunity and eating healthy, technological advancements in beverage industries, investment in R&D, enhanced sensory attributes of the product, availability of variants in terms of flavor, low fat and sugar content, shortage in supply of natural milk, allergies due to lactose intolerance and use of cashew milk in other products, present askey drivers in the growth of the global cashew milk market. However, the high price of the product, the low shelf life of cashew milk, nut allergies, and lack of awareness about the product hinder the market growth. Whereas, expansion of product line, investment in new technology, partnership with the suppliers, introduction of new cashew products such as frozen desserts and flavored cashew milk, quality standardization, and implementation of good manufacturing practices present new pathways in the industry.

The global cashew milk trends are as follows:

Investment in the product line

Cashew milk has presented a potential vegan alternative for the health consciousness and fulfillment of daily nutritional requirements. The use of cashew milk is not only limited to direct consumption but is also used for preparing other milk-based products such as frozen desserts, yogurt, creamers, milk powders, and others. The awareness among the consumers for healthy products has increased day by day and has presented a new pathway for the plant-based milk products to gain a significant presence in the market. The processed cashew milk contains less amount of fat, fiber, lactose and is fortified with the essential vitamins and minerals making it more reliable and beneficial for people suffering from conditions such as lactose intolerance, heart disorders, the problem in nerve function, blood pressure, blood sugar and boosts the immune health. The key players in the cashew milk market are inclined to improve the quality, palatability of the product, and providing consumer satisfaction. Therefore the introduction of variants such as original cashew milk, unsweetened cashew milk, and flavored cashew milk has expanded the product line.

WhiteWave, a leading brand in the plant-based alternatives introduced the cashew milk and cashew milk products under the brands' Silk and So Delicious, inclined toward trending food categories, sustainable practices, hunger relief, and innovation. The key players have been enhancing the quality of the products and leading toward sustainable development by introducing Non-GMO and vegan products.

Key Segments Covered:

Key Benefits of the Report:

• This study presents the analytical depiction of the global cashew milk market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global cashew milk market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global cashew milk market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global cashew milk market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Cashew Milk Market Research Report:

• What are the leading market players active in cashew milk market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?