The Europe Cashew Milk Market would witness market growth of 9.7% CAGR during the forecast period (2023-2030).
Plant-based or non-dairy milk substitutes are growing rapidly in the regional functional and specialty beverage area of emerging food product development. Due to widespread cow milk allergies, calorie concerns, and the growing popularity of vegan diets, consumers choose milk substitutes such as cashew, almond, soy, and others. Regional demand for plant-based milk substitutes is rising as more low-income populations in developing nations and areas with limited access to cow's milk look for more affordable alternatives. Dairy made from plants has recently been more well-liked among consumers moving toward vegetarian or vegan diets.
Numerous variables, such as sensitivity to milk protein, hypercholesterolemia, and calorie intake, may be responsible for the surge in plant-based dairy substitutes. Oats, almonds, cashews, coconut, and rice are some examples of plant-based foods that have enough quantities of lipids, proteins, and oils and can be used to make milk. Animal milk is commonly substituted with plant-based cashew milk because of its nutritional, physiological, and sensory properties.
According to OECD data, the percentage of obese adults in Germany quadrupled between 1990 and 2015, from 12.0% to 23.6%, and was – for the first time – considerably over the OECD average of 19.5% in 2015, placing it among the top ten nations with the highest obesity rates. The high prevalence of obesity and its associated health issues are anticipated to increase the demand for healthy food products such as sugar-free cashew milk as it is rich in vitamins and proteins. As a result, the market is estimated to witness growth in the region.
The Germany market dominated the Europe Cashew Milk Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8,877.9 Thousands by 2030. The UK market is exhibiting a CAGR of 8.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 10.5% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Supermarket, Retail Stores, and Online. Based on Product Type, the market is segmented into Plain and Flavored. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Cashew Milk Market is Projected to reach USD 129.4 Million by 2030, at a CAGR of 9.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Blue Diamond Growers, Inc., Danone S.A., Edward & Sons Trading Co., Inc., Nutty life, LLC., ProVeg e.V., SunOpta, Inc., Earth's Own Food Company, Inc., Plenish Cleanse Ltd. (Britvic PLC) and The Gentle Nut.
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