Cashew Milk Market Size, Share, and Growth Analysis

Cashew Milk Market by Product (Plain, Flavored), by Type (Conventional, Organic), by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores), by Region -Industry Forecast 2025-2032


Report ID: SQMIG30D2015 | Region: Global | Published Date: January, 2025
Pages: 186 |Tables: 88 |Figures: 71

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Cashew Milk Market Insights

Global Cashew Milk Market size was valued at USD 218.3 Billion in 2023 poised to grow from USD 234.2 Billion in 2024 to USD 411.58 Billion by 2032, growing at a CAGR of 7.3% in the forecast period (2025-2032).

The cashew milk market is seen to undergo several significant developments due to the rising awareness of health in consumers, demands for plant-based alternatives, and the search for dairy-free substitutes. Among all these developments is the increased adaptation of cashew milk as a substitute for milk coming from plants. Due to its smooth, nutty taste and silky texture, cashew milk has become a favorite among consumers who desire a dairy-free milk that feels and tastes just like conventional dairy milk. This trend aligns with growing market acceptance of plant-based diets as well as increased demand for alternate sources of milk. Health-related choices by consumers are driving demand in the cashew milk market as they seek drinks that are more plant-based with nutritional benefits.

For people who are concerned about their heart health and weight, cashew milk is a desirable option as it is naturally lower in calories and saturated fats than regular dairy milk. This attractiveness of cashew milk towards the consumers in search of a nutritious alternative to dairy is further supplemented by the existence of crucial ingredients, such as vitamins, minerals, and antioxidants. Increasing customer demand for transparent and easy-to-read ingredient lists has fueled clean-label demand in the cashew milk market. Since the main ingredients of cashew milk are cashews, water, and occasionally a natural sweetener, it is frequently preferred for its simple and uncomplicated ingredient profile.

Market snapshot - (2025-2032)

Global Market Size

USD 218.3 Billion

Largest Segment

Plain

Fastest Growth

Flavored

Growth Rate

7.3% CAGR

Global Cashew Milk Market ($ Bn)
Country Share by North America (%)

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Cashew Milk Market Segments Analysis

The global cashew milk market is segmented based on product, type, distribution channel, and regions. In terms of product, the market is divided into plain and flavored. Based on the type, the market is bifurcated into conventional and organic. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online, specialty stores, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and the Middle East & Africa.

Analysis by Product

As per categorization by product, the market is classified as plain and flavored. Among these, plain earned the largest share and continues to hold the dominant global cashew milk market share. Innovation in plain cashew milk, which involves enhancements in texture and creaminess along with nutritional profiles to cater to consumers' demands for clean-label plant-based alternatives, is currently occurring in the global cashew milk market. Plain accounts for the lion's share, as it forms a versatile base for coffee, smoothies, and cooking. Mild flavor, absence of added sugars, and its suitability for both lactose-intolerant and vegan consumers create further demand and make it a preferred option both in retail and foodservice channels.

The flavored product segment is set to be the fastest-growing in the global cashew milk market due to increasing consumer demand for taste-enhanced, plant-based dairy alternatives. Brands have managed to capture changing tastes, especially among kids and health-conscious adults, who seek variety. With flavors ranging from vanilla to chocolate and caramel. Fortified flavored cashew milk with added nutrients provides even more reason to be popular. Added nutrients in fortified flavored cashew milk enhance its appeal. Increasing adoption in smoothies, desserts, and specialty beverages accelerates the demand. In addition, the fact that it can rapidly grow is added by expanding retail availability, aggressive marketing, and increasing innovation in sugar-free and functional flavored options; thereby, Flavored cashew milk drives the growth in the market.

Analysis by Type

The conventional type dominates the global cashew milk market due to its affordability, widespread availability, and established consumer trust. Improvements in Traditional cashew milk include texture, shelf life, and nutritional value without significant cost increases. This type is used in beverages, coffee, cooking, and baking and is widely accepted by consumers. The cost-effectiveness of this type makes it the most preferred by households and foodservice industries, which in turn increases the sales volume. Other expansions include the number of retail distribution channels and private-label offerings that also help it remain on top, with Conventional being the cashew milk segment.

The organic type is projected to be the fastest-growing segment in the global cashew milk market due to increasing consumer demand for clean-label, chemical-free, and sustainably sourced plant-based products. Organic cashew milk is required by health-conscious buyers due to the absence of pesticides, synthetic additives, and GMOs. Awareness of ethical farming, environmental issues, and lactose intolerance will help grow the product further. Premiumization trends and expanded availability through specialty stores and e-commerce platforms will drive acceleration. With branding investing into certifications, transparency, and eco-friendly packaging, Organic cashew milk is expected to see rapid expansion in its market as well, and both vegan and wellness-focused consumers are sure to be attracted towards it.

Global Cashew Milk Market By Product (%)

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Cashew Milk Market Regional Insights

North America dominates the global cashew milk market due to rising consumer demand for plant-based dairy alternatives, driven by health consciousness, lactose intolerance, and veganism. A highly developed retail infrastructure in this region, via supermarkets and electronic commerce platforms, makes the products widely available. The big companies invest in R&D, innovating new flavors and fortified forms, for a broader client base. Consumers growing up understanding the importance of sustainability and moral sourcing also encourages market growth. Major food chains are incorporating cashew milk into beverages and recipes, leading to increased acceptance. With their high disposable incomes and changing preferences on diet, North America is dominant in consumption as well as innovative market.

Europe is the fastest-growing region in the global cashew milk market due to rising demand for plant-based dairy alternatives, driven by increasing veganism, lactose intolerance, and sustainability concerns. Consumers increasingly focus on healthy, organic, and clean-label options; hence, growth in the market is rather rapid. Support from government on plant-based diets and also a strict policy on dairy production increases the growth rate. An increased specialty coffee culture as well as innovation in plant-based foods accelerates cashew milk adoption across cafes and households. Strong retail penetration, increasing e-commerce, and aggressive marketing efforts by a few key brands are supporting the region's exponential growth and make Europe a key driver in the market.

Global Cashew Milk Market By Geography
  • Largest
  • Fastest

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Cashew Milk Market Dynamics

Drivers

Rising Demand for Plant-Based and Lactose-Free Alternatives

  • The growing shift toward plant-based diets, fuelled by rising lactose intolerance and dairy allergies, is a major driver for the global cashew milk market growth. Consumers are demanding more dairy-free options for health, ethical, and environmental reasons, and so cashew milk is becoming more in demand as a nutritious, sustainable, and versatile alternative.

Expanding Retail and E-Commerce Distribution

  • The widespread availability of cashew milk through supermarkets, convenience stores, and online platforms is accelerating market growth. E-commerce channels are very easy and allow a global reach to the products, especially for cashew milk. In addition, effective marketing strategies along with private labels help create greater awareness and, hence higher adoption rates globally.

Restraints

Allergen Concerns and Limited Consumer Awareness

  • Cashew milk’s growth is restrained by nut allergy concerns, which prevent a significant portion of consumers from choosing it over other plant-based options. Compared to almond or soy milk, cashew milk still has relatively lower consumer awareness, which limits market penetration, particularly in regions where plant-based dairy alternatives are less known.

Short Shelf Life and Storage Challenges

  • Compared to dairy milk and other plant-based alternatives, cashew milk has a relatively short shelf life, which makes storage and distribution challenging. Therefore, its storage and distribution are challenging. Fresh and organic variants have a high refrigeration requirement, which elevates the cost of logistics and reduces access in areas lacking cold chain infrastructure, thereby limiting the growth of the market.

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Cashew Milk Market Competitive Landscape

The global cashew milk market is highly competitive, with numerous brands vying for market share. Through novel flavourings, nutritional enhancements, and organic presentations, the biggest players compete more on differentiation aspects of products rather than pure functionality. Key overseas players are Califia Farms, So Delicious Dairy Free, Reed's Inc., and The Bridge. Through proper distribution, a well-executed marketing plan, and high levels of demand across consumers, leadership in this blossoming cashew milk market can easily be maintained, and the drive into competition would focus on availability and pricing and further consumer shifts into preference.

Top Players in Cashew Milk Market

  • Califia Farms (USA)
  • So Delicious Dairy Free (USA)
  • Reed's Inc. (USA)
  • The Bridge (Italy)
  • Alpro (Belgium)
  • Oatly (Sweden)
  • MALK Organics (USA)
  • Nutty Bruce (Australia)
  • Vitasoy International Holdings (Hong Kong)
  • Coconut Collaborative (UK)
  • Silk (USA)
  • Rude Health (UK)
  • Harmless Harvest (USA)
  • Pureharvest (Australia)
  • Dream (USA)

Recent Developments

  • In December 2024, Califia Farms expanded its cashew milk offerings with the launch of a new flavored line. The most innovative cashew milk combinations - matcha and turmeric - aim to enter the health-conscious, functional-beverage consumer market. This new launch advances them in a growing sector - the plant-based beverage market.
  • In November 2024, So Delicious Dairy Free launched an organic cashew milk variant. The new product is USDA-certified organic and made of simple, clean ingredients. It is made with this idea of increasing the consumer demand for organic, sustainable, and dairy-free alternatives and ensuring its presence in the premium market.
  • In October 2024, Oatly partnered with major retail chains in Europe to expand its cashew milk distribution. It can increase shelf space and visibility of the product across supermarkets to lure more customers toward a plant-based milk category. Partnership is part of Oatly's broader globalizing plans to strengthen footprint and meet emerging demand.

Cashew Milk Key Market Trends

Cashew Milk Market SkyQuest Analysis

SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, the global cashew milk industry has been growing on a global basis, mainly attributed to rising consumer demand for plant-based and dairy-free products. The consumption of health-oriented food, with increasing acceptance of clean-label products, supports the growth in cashew milk market.

Additionally, innovations in flavored and organic variants are meeting evolving consumer preferences. North America leads the market, while Europe emerges as the fastest-growing region due to rising plant-based adoption. Despite challenges, such as allergen concerns and storage limitations, the cashew milk market's future remains promising, with increasing product offerings and wider distribution fueling continued growth.

Report Metric Details
Market size value in 2023 USD 218.3 Billion
Market size value in 2032 USD 411.58 Billion
Growth Rate 7.3%
Base year 2024
Forecast period (2025-2032)
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Plain and Flavored
  • Type
    • Conventional and Organic
  • Distribution Channel
    • Supermarkets/Hypermarkets, Convenience Stores, Online, Specialty Stores, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Califia Farms (USA)
  • So Delicious Dairy Free (USA)
  • Reed's Inc. (USA)
  • The Bridge (Italy)
  • Alpro (Belgium)
  • Oatly (Sweden)
  • MALK Organics (USA)
  • Nutty Bruce (Australia)
  • Vitasoy International Holdings (Hong Kong)
  • Coconut Collaborative (UK)
  • Silk (USA)
  • Rude Health (UK)
  • Harmless Harvest (USA)
  • Pureharvest (Australia)
  • Dream (USA)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Cashew Milk Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Cashew Milk Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Cashew Milk Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cashew Milk Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cashew Milk Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Cashew Milk Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Cashew Milk Market size was valued at USD 218.3 Billion in 2023 poised to grow from USD 234.2 Billion in 2024 to USD 411.58 Billion by 2032, growing at a CAGR of 7.3% in the forecast period (2025-2032).

The global cashew milk market is highly competitive, with numerous brands vying for market share. Through novel flavourings, nutritional enhancements, and organic presentations, the biggest players compete more on differentiation aspects of products rather than pure functionality. Key overseas players are Califia Farms, So Delicious Dairy Free, Reed's Inc., and The Bridge. Through proper distribution, a well-executed marketing plan, and high levels of demand across consumers, leadership in this blossoming cashew milk market can easily be maintained, and the drive into competition would focus on availability and pricing and further consumer shifts into preference. 'Califia Farms (USA)', 'So Delicious Dairy Free (USA)', 'Reed's Inc. (USA)', 'The Bridge (Italy)', 'Alpro (Belgium)', 'Oatly (Sweden)', 'MALK Organics (USA)', 'Nutty Bruce (Australia)', 'Vitasoy International Holdings (Hong Kong)', 'Coconut Collaborative (UK)', 'Silk (USA)', 'Rude Health (UK)', 'Harmless Harvest (USA)', 'Pureharvest (Australia)', 'Dream (USA)'

The growing shift toward plant-based diets, fuelled by rising lactose intolerance and dairy allergies, is a major driver for the global cashew milk market growth. Consumers are demanding more dairy-free options for health, ethical, and environmental reasons, and so cashew milk is becoming more in demand as a nutritious, sustainable, and versatile alternative.

Rising Demand for Health-Conscious and Plant-Based Alternatives: There is a growing shift towards health-conscious, plant-based diets, driving innovations in the global cashew milk market trends. Consumers are more interested in non-dairy, low sugar, and nutrient-enhanced products. This trend is highly prevalent in vegans, lactose-intolerant people, and those focused on sustainability and clean-label products.

North America dominates the global cashew milk market due to rising consumer demand for plant-based dairy alternatives, driven by health consciousness, lactose intolerance, and veganism. A highly developed retail infrastructure in this region, via supermarkets and electronic commerce platforms, makes the products widely available. The big companies invest in R&D, innovating new flavors and fortified forms, for a broader client base. Consumers growing up understanding the importance of sustainability and moral sourcing also encourages market growth. Major food chains are incorporating cashew milk into beverages and recipes, leading to increased acceptance. With their high disposable incomes and changing preferences on diet, North America is dominant in consumption as well as innovative market.

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Cashew Milk Market

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