Coconut Milk Market:
Growth opportunities in the Coconut Milk Market look promising over the next six years. This is mainly due to their rising use in various end-use areas and the growing demand for dairy alternatives such as almond and soy milk.
Coconut Milk Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The prominent drivers supplementing the growth of the global coconut milk market include the augmenting demand for plant-based products throughout the world and the surging consciousness related to its advantages. Also, the consumption of products derived from coconut milk imparts various health benefits such as reduced cholesterol levels, improved blood pressures, fewer chances of heart attacks and strokes, and enhanced kidney health, which further strengthens the coconut milk market size. In addition, the changing preference of individuals towards a vegetarian diet along with the increasing adoption of these products will propel the market demand. The expanding inclination towards dairy alternatives followed by the rising health recognition contributes to the market growth. The mounting implementation of these products across enormous end-use industries is projected to offer significant growth opportunities to the market. However, variation in the prices of coconut and its product will hinder the market growth.
End-Use Segment Drivers
Based on the end-use, food & beverage is expected to witness a faster CAGR during the forecast period. This is primarily attributed to its amplifying applications in confectionery, bakery, and dairy products. Moreover, it is extensively used to add flavor to the products and is rich in fiber, with low calories and high nutritional content which is accelerate the market growth. On the other hand, cosmetics & personal care is predicted to expand at a higher CAGR over the forecast period due to the extending demand for plant-based cosmetic products as coconut milk products are a good source of nutrients.
Regional Drivers
Based on the regional coverage, North America is projected to grow at a higher CAGR during the forecast period. This is mainly because of the increasing health awareness related to lactose restrictions and obesity. On the other edge, Asia-Pacific is forecasted to increase at a faster CAGR over the forecast period. This is owing to the altering consumer tendency towards a vegetarian diet in countries like India and China. In addition, the increasing prevalence of lactose-intolerant population will drive the market growth.
Coconut Milk Market’s leading Manufacturers:
- Danone S.A
- Monty & Totco Co.Ltd.
- S&P International Holding Limited
- J Mitra Sdn. Bhd.
- Nestlé S.A
- Sambu Group
- Primex Coco Products Inc
- M&S Food Industries
- Santanku Sdn Bhd
- Renuka Foods PLC
- Grace Foods Canada Inc.
Coconut Milk Market Segmentation:
Segmentation by Product Type
- Coconut Milk Powder
- Coconut Cream
- Others
Segmentation by Nature
- Organic
- Conventional
Segmentation by Flavor
- Sweetened
- Unsweetened
Segmentation by End-Use
- Food & Beverage
- Cosmetics & Personal Care
- Others
Segmentation by Distribution Channel
- Online Stores
- Hypermarkets
- Specialized Stores
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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