Jul 22, 2020 6:29 PM ET
iCrowd Newswire – Jul 22, 2020
Global Cashew Milk Market is expected to capture an optimistic CAGR in the forecast period. The surge in the vegan movement has contributed to an increased demand for products that meet the requirements. Reports that assess the food, beverage, and nutrition industry have been presented by Market Research Future, which creates reports on numerous industry verticals that examine the market progress and forecasts.
The rising number of cases related to lactose intolerance is anticipated to encourage the growth of the cashew milk market. The enhanced preference of end users to try different varieties of food is projected to motivate the market for cashew milk in the coming years. The strong inclination towards development of vegan products is expected to spur the development of the cashew milk market in the forthcoming years.
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A considerable ascension in the number of promoters in the market is estimated to form a beneficial outlook for market growth in the projected period. The conception of prodigious competitive advantages is likely to support the progress of the market. The surge in the market is credited to the presence of favorable market forces are expected to complement the development of the market. The positive reinforcement of the forces of demand and supply is expected to lift the market growth in the coming years. The synergies achieved in the manufacturing of the goods in the market are enhanced, leading to better growth prospects. The availability of productive resources is expected to further the progress of the market in the forecast period. The increased transaction level in the market is expected to spur an accelerated level of growth in the market. The relaxation of the barriers to the entry of new players in the market is expected to encourage the expansion of the market in the impending years.
Danone S.A.(France), Forager Project (US), Earth’s Own Food Company Inc. (Canada), Califia Farms (US), Pacific Foods (US), Rude Health (UK), Plenish Cleanse Ltd. (UK), Elmhurst Milked Direct LLC (US), Hain Celestial Group (US) and RITA Food & Drink Co., Ltd. (Vietnam) are the principal contenders in the Cashew Milk Market.
The segmental study of the Cashew Milk Market has been conducted on the basis of packaging type, category, distribution channel, and region. Based on the category, the cashew milk market has been segmented into organic and conventional. The segmentation of the cashew milk market based on packaging type comprises of divided into cartons, bottles, and others. Based on the distribution channel, the cashew milk market has been segmented into non-store based and store based. The store-based segment is sub-divided into convenience stores, supermarkets & hypermarkets, and others. Based on region, the cashew milk market has been segmented into North America, Europe, APAC, and the rest of the world.
The Regional assessment of the cashew milk market covers regions such as North America, Europe, Asia Pacific, and the rest of the world. The North American region is projected to govern the market for cashew milk through the forecast period due to the amplified demand for non-dairy milk among the existing lactose-intolerant population. The US is observed to be the chief contributor to the development of the cashew milk market in the North American region with improved demand for organic cashew milk among the consumers. The European region is also anticipated to control a noteworthy share of the cashew milk market with increasing demand for non-dairy milk in the making of confectionery and bakery products. The regional market in the Asia Pacific is expected to record the peak CAGR throughout the forecast period with China and India standing as the chief country-level markets for cashew milk in the region. The factor for developments such as intensifying health-conscious population along with growing awareness for cashew milk among the consumers is anticipated to motivate the market growth in the forecast period.
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