The Latin America, Middle East and Africa Cashew Milk Market would witness market growth of 12.2% CAGR during the forecast period (2023-2030).
Cooking, baking, and creating sauces & soups are some culinary uses for cashew milk. It satisfies the needs of vegan and lactose-intolerant consumers by serving as a great dairy milk substitute in various recipes owing to its mild flavor and creamy texture. These are the primary elements that will provide great opportunities for market participants during the anticipated period of time.
Customers who want cashew milk's natural flavor and texture without additional tastes or sweeteners can purchase plain cashew milk. Customers who appreciate the adaptability of plain cashew milk in numerous culinary applications have made it more popular. As a result of its versatility as a base for smoothies, coffee, tea, cereal, baking, and cooking, it is a popular component in both savory and sweet dishes. These are anticipated to significantly impact the size of the market during the forecast period.
The United Arab Emirates continues to be a major contributor to F&B sales in the Middle East region as a result of the rising number of tourists. The nation and Dubai continue to draw a wide range of domestic and international food and drink products. The food and beverage sector, which is among the largest industries in the UAE, is crucial to both the country’s economy and the expansion and diversification of the economy of the entire region. Due to this growing food and beverage industry, it is expected that the market would also expand in the LAMEA region.
The Brazil market dominated the LAMEA Cashew Milk Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,248.8 Thousands by 2030. The Argentina market is showcasing a CAGR of 12.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 11.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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