Cashew Milk Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Flavored, Non-Flavored), By Packaging (Cartons, Pouches, Bottles), By Sales Channel (Supermarkets/Hypermarkets, Online, Convenience Stores, Specialty Stores, and Others (Direct Sales, etc.)), By Region, By Competition , 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 69.64 Million
CAGR (2026-2031)	5.42%
Fastest Growing Segment	Flavored
Largest Market	North America
Market Size (2031)	USD 95.57 Million

Market Overview

The Global Cashew Milk Market will grow from USD 69.64 Million in 2025 to USD 95.57 Million by 2031 at a 5.42% CAGR. Cashew milk is a plant-based beverage produced by blending soaked cashew nuts with water to create a creamy liquid that is often fortified with vitamins and minerals. The market is primarily driven by the rising global prevalence of lactose intolerance and milk allergies which necessitates viable dairy substitutes for a broad consumer base. Furthermore, the expanding population of health-conscious consumers and flexitarians favors the product for its naturally low caloric content and distinctively rich texture compared to other nut-based alternatives.

Despite these favorable demand dynamics, the market faces significant impediments regarding the volatility of raw material costs and supply chain constraints. Cashew cultivation is labor-intensive and susceptible to climatic variations, leading to price fluctuations that can hinder the final product's affordability compared to grain-based milks. According to the Good Food Institute, global sales of non-dairy alternatives increased by 5% to reach $22.4 billion in 2024, demonstrating the resilient demand for the broader category. However, maintaining competitive pricing remains a critical challenge for cashew milk manufacturers aiming to maximize this market potential.

Key Market Drivers

The accelerating adoption of vegan, vegetarian, and flexitarian lifestyles is a primary force propelling the Global Cashew Milk Market. Consumers are increasingly transitioning away from conventional dairy products, motivated by ethical concerns regarding animal welfare and a desire to reduce their personal carbon footprints. This shift is not limited to strict vegans but includes a vast demographic of flexitarians seeking plant-based variety, thereby widening the addressable audience for nut-based beverages. The momentum of this dietary transition is evident in global participation figures for plant-based challenges. According to Veganuary, February 2024, in the '2024 Campaign Report', more than 1.8 million people worldwide officially signed up to consume a strictly plant-based diet for the month of January, reflecting a rapidly expanding consumer base eager to explore alternatives like cashew milk.

Product innovation in flavored and barista-style variants significantly enhances market appeal, addressing the demand for functional and premium beverages that mimic the versatility of cow's milk. Manufacturers are aggressively diversifying their portfolios to include clean-label creamers and frothing-capable formulations designed specifically for coffee applications, a segment previously dominated by oat and almond varieties. For instance, according to Elmhurst 1925, June 2024, in the press release 'Elmhurst 1925 Launches the First Dairy-Free Cashew Creamers On The Market', the company introduced a new line of cashew-based creamers containing only five ingredients to meet the rising consumer preference for additive-free formulations. Such innovations are critical for capturing value in a competitive landscape where, according to the Plant Based Foods Association, in 2024, plant-based milk held a 15% dollar share of the total milk category in the United States.

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Key Market Challenges

The volatility of raw material costs and supply chain constraints constitutes a formidable barrier to the growth of the global cashew milk market. Since cashew cultivation remains heavily dependent on manual labor and specific tropical climatic conditions, the supply chain is inherently fragile and prone to disruption. These irregularities inevitably lead to sharp spikes in the price of raw cashew nuts, the primary input for production. Consequently, manufacturers struggle to maintain stable retail pricing, often passing increased costs onto consumers, which significantly reduces the product's competitiveness against more affordable and stable plant-based alternatives like soy or oat milk.

This economic instability directly hampers manufacturers' ability to secure the consistent profit margins necessary for market expansion. The unpredictability of input costs is underscored by recent industry data showing sustained price increases. According to the Vietnam Cashew Association, in 2024, the average export price of cashew kernels rose to approximately $5,873 per metric ton due to persistent supply challenges. Such inflationary pressure limits the capacity of brands to scale production or adopt aggressive pricing strategies, ultimately restricting the category's adoption among price-sensitive consumer segments.

Key Market Trends

The shift towards clean label and minimalist ingredient lists is reshaping the premium segment of the cashew milk market, as consumers increasingly scrutinize product back-of-packs for gums, oils, and artificial additives. This trend favors brands that utilize simple processing methods to preserve the nut's natural integrity without relying on emulsifiers like carrageenan or rapeseed oil. Consequently, manufacturers focusing on "nothing artificial" propositions are securing robust sales even as the broader plant-based category faces inflationary headwinds. For example, according to Just Food, November 2024, in the article 'Rude Health gets new owner amid plateau in UK plant-based milk', the clean-label manufacturer Rude Health was on track to deliver £28 million in revenue for the year, demonstrating the financial resilience of brands prioritizing high-quality, additive-free formulations.

Simultaneously, the adoption of sustainable and aseptic packaging solutions has become a critical differentiation strategy for manufacturers aiming to align their logistical operations with their environmental value propositions. Beyond the fluid content, companies are aggressively mitigating the carbon footprint of their supply chains by transitioning to post-consumer recycled materials and optimizing circular packaging ecosystems. This operational shift directly addresses the demands of eco-conscious shoppers who evaluate the holistic environmental impact of their dairy alternatives. Illustrating this commitment, according to Forager Project, November 2024, in the report 'Our Impact', the company successfully transitioned all its cashew milk bottles to 98% post-consumer recycled plastic (rPET), significantly reducing its reliance on virgin plastics and lowering the overall greenhouse gas intensity of its product line.

Segmental Insights

According to reputable market research, the Flavored segment is emerging as the fastest-growing category within the Global Cashew Milk Market. This expansion is fueled by continuous product innovation aimed at enhancing palatability for consumers seeking variety beyond plain formulations. Manufacturers are actively introducing popular options such as chocolate, vanilla, and coffee to mask the naturally nutty flavor profile of cashews, thereby attracting younger demographics and first-time buyers. Furthermore, the rising demand for convenient, on-the-go nutrition has bolstered the sales of single-serve flavored options, positioning them as a preferred choice for individuals seeking indulgent yet healthy dairy alternatives.

Regional Insights

North America holds the dominant position in the global cashew milk market, primarily driven by the widespread consumer shift toward lactose-free and plant-based dietary habits. The United States contributes significantly to this regional leadership due to rising health consciousness and the robust availability of non-dairy alternatives across established retail chains. Furthermore, the market benefits from a strong domestic manufacturing base that ensures consistent supply to meet the growing demand for fortified beverages. The adherence to food safety standards monitored by the U.S. Food and Drug Administration further supports consumer confidence and ongoing market stability.

Recent Developments

• In September 2025, Forager Project launched a comprehensive sustainability initiative known as "The Cashew Project" in Côte d'Ivoire, established in collaboration with GIZ and Olam Food Ingredients (ofi). This strategic partnership focused on training women in organic cashew farming and business management to promote gender equality and financial independence within the raw material supply chain. The program also included extensive education on climate-smart agricultural practices to support biodiversity and enhance production quality. This initiative aimed to secure a resilient, ethical source of cashews for the company's extensive range of organic plant-based dairy alternatives.
• In November 2024, PT Comextra Majora, a prominent exporter of cashew kernels based in Indonesia, entered the consumer beverage market with the launch of Plantiq, a new cashew milk alternative. The product line was introduced in original and chocolate flavors, packaged in shelf-stable bottles designed for convenient, on-the-go consumption. Leveraging the company's established position as a major cashew processor, this launch represented a strategic vertical integration to create value-added products for the domestic market. The milk was fortified with essential vitamins and minerals, specifically targeting health-conscious consumers seeking nutritious, locally produced plant-based beverage options.
• In June 2024, Elmhurst 1925 introduced a new line of dairy-free Cashew Creamers, marking the brand's strategic expansion into the plant-based coffee enhancement category. The new collection featured four distinct varieties: Sweet Cream, Cinnamon Churro, Caramel Brûlée, and Unsweetened, all utilizing cashew as the primary base ingredient. These products were developed using the company's proprietary HydroRelease method, which preserves the nutritional integrity of the nuts without the use of added gums or oils. The launch aimed to provide consumers with a rich, creamy, and shelf-stable alternative to traditional dairy creamers, available through various online and retail channels.
• In March 2024, Malk Organics announced the closing of an internal investment round led by existing investors Benvolio Group and Rotor Capital to support its growth strategy. Concurrently, the company expanded its product portfolio with the launch of a new Cashew MALK, crafted with a minimal ingredient list that includes filtered water, organic cashews, Himalayan pink salt, and organic almonds. This product release was accompanied by a significant distribution expansion into nationwide retailers, including Whole Foods Market, aiming to meet the growing consumer demand for premium, clean-label plant-based milk alternatives without gums or fillers.

Key Market Players

• Blue Diamond Growers
• So Delicious Dairy Free
• Aplro
• Cashew Dream
• Forager Project
• Nutty life, LLC.
• Provamel
• Danone SA
• Plenish Cleanse Ltd.
• White Waves Food Company

By Type	By Packaging	By Sales Channel	By Region
Flavored Non-Flavored	Cartons Pouches Bottles	Supermarkets/Hypermarkets Online Convenience Stores Specialty Stores and Others (Direct Sales, etc.)	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Cashew Milk Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Cashew Milk Market, By Type:

• Flavored
• Non-Flavored

• Cashew Milk Market, By Packaging:

• Cartons
• Pouches
• Bottles

• Cashew Milk Market, By Sales Channel:

• Supermarkets/Hypermarkets
• Online
• Convenience Stores
• Specialty Stores
• and Others (Direct Sales, etc.)

• Cashew Milk Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE