The global coconut milk products market is accounted to US$ 812.4 Mn in 2018 and is expected to grow at a CAGR of 9.3% during the forecast period 2019 – 2027, to account to US$ 1,775.4 Mn by 2027. Coconut cream and coconut milk powder are the most preferred coconut milk products globally. These products are rich in fats and nutrition. The coconut milk products are used as a dairy alternative by the people suffering from lactose intolerance. They are also used in various recipes due to its mild and sweet taste. Growing demand for plant-based food products in developed and developing countries is stimulating the demand for these products. Moreover, the rise in adoption of coconut milk products in several food recipes and products further boost the coconut milk products market globally.
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The demand for the plant-based food products is increasing with the rise in health awareness. The coconut milk is dairy free alternative which is an excellent source of fiber, calcium, zinc, iron, and magnesium. It also provides benefits such as bone strengthening, cardiovascular health benefits, immune strength, weight loss, and offers allergen free properties. Thus, leaders in the coconut milk products market are also focusing more on inventing new products with added nutritive value.
Coconut milk is largely used in several food applications owing to its plant-based nature and health benefits associated with its consumption. Every part of the coconut, such as water, milk, sugar, flesh, and oil can be used in several ways. It is used in the cosmetic industry to produce natural skin care products. It is used in moisturizing lotion and face creams owing to its superior moisturizing properties. Coconut milk is also used in shampoo and conditioners, which promotes hair growth, makes it less greasy, and adds volume to hair. Currently, leading beauty brands are using coconut milk in a wide range of products from moisturizers to make-up products.
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The global coconut milk products market by geography is segmented into six regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region is expected to account for the largest share of the global coconut milk products market in 2018, followed by North America. Some of the key players in the coconut milk products market include Danone S.A., Goya Foods, Inc., GraceKennedy Limited, McCormick & Company, Inc., Nestlé SA, Pacific Foods of Oregon, LLC, Sambu Group, Thai Agri Food PLC, Thai Coconut Public Company Limited, and Celebes Coconut Corporation among others.
The report segments the global coconut milk products market as follows:
Global Coconut Milk Products Market – By Nature
Global Coconut Milk Products Market – By Product Type
- Coconut Cream
- Coconut Milk Powder
Global Coconut Milk Products Market – By End Use
- Food & Beverage Processing
- Cosmetics & Personal Care
- Functional Food & Dietary Supplements
- Food Services
Global Coconut Milk Products Market – By Distribution Channel
- Direct Sales
- Indirect Sales
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- Highlights key business priorities in order to assist companies to realign their business strategies.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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