Recent evidences showcasing health benefits of coconut milk products, coupled with consumer preference for a vegetarian
diet are driving coconut milk products sales, finds Future Market Insights (FMI) in a study. According to the report,
thecoconut milk products market
will reach a valuation of US$ 285.6 Mn by 2021. The demand in the market will continue rising as an increasing number
of consumers showcase inclination for plant-based food and beverages.
Other factors such as rapid urbanization, rising number of health-conscious consumers, increasing disposable income of
consumers, and their changing lifestyles especially in developing countries are expected to be a major driver for the
growth of the food processing industry. Coconut milk products help in the formation of hemoglobin as they contain iron
and also help in improving the health of patients suffering from anemia. Coconut milk products also strengthen immune
system against various microorganisms because they have various anti-bacterial and anti-viral properties. Increasing
awareness about various health benefits of coconut milk products and consumer preference for a vegetarian diet, will
drive the market.
The hectic lifestyle of people has increased the demand for ready to eat foods and processed food products. Increasing
use of coconut milk powder for enhancing the functional and nutritional value, shelf life, and quality of the product
will create growth opportunities in the market. According to the report, coconut milk powder accounts for over 80% of
sales in the market.
Coconut milk products are used in the preparation of nutritional foods and also used as a dietary supplement because of
their high nutritional content. Increasing application in the food and beverages sector will continue driving sales.
Key Takeaways from the Coconut Milk Products Market StudyIncreasing focus on health and wellness will push coconut milk product sales at 7.6% between 2021 and 2031As a result of rising cases of obesity and diabetes, the U.S. is exhibiting high demand for plant-based food and
beverages. It will account for over 88% of coconut milk products sold in North America in 2021Expansion of the food sector, especially growth in confectionaries and bakeries will drive sales in the U.K. at above 7%
in 2021Indonesia and India will emerge as key markets for coconut milk products in South Asia. Increasing coconut production
will seal Indonesia’s dominanceChina will account for maximum coconut milk product sales in East Asia. Increasing demand for plant-based food items
will drive sales in the country
“The increasing demand for food with high nutritional value and longer shelf life has been a key factor pushing
application of coconut milk products in the food processing industry. With focus on health expected to rise, the market
for coconut milk products will exhibit impressive growth in the coming years,” said a lead analyst at FMI
Vegan Food Popularity a Blessing for Coconut Milk Products Market
Vegan food is gaining popularity among consumers as a result of environmentally sustainable plant cultivation. Despite
the fact that vegan food is an expensive commodity, consumers are willing to pay more for it because they want to follow
safe and healthy eating habits and care about the environment. Vegan food products are becoming more common in developed
and developing countries as consumers have become more aware of food safety and quality. This will have a positive
impact on coconut milk products market, driving sales as a sought-after dairy alternative.
Who is winning?
Some of the leading companies involved in coconut milk products are Thai Coconut Public Company Limited, Nestle S.A.,
The Sambu Group, Pacific Foods of Oregon, Celebs Coconut Corporation, Grace Kennedy Limited, Asiatic Agro-Industry,
Monty and Totco Corporation Limited, McCormick & Company Incorporation, Primex Coco Products Incorporation and others.
Product launches remain a chief strategy among market players. For instance, Nestlé S.A launched Nespray Coco-Up in Sri
Lanka in 2018.
Get Valuable Insights into Coconut Milk Products Market
Future Market Insights, in its new offering, provides an unbiased analysis of the coconut milk product market,
presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study
divulges compelling insights on the coconut milk products market based on By Product Type (Coconut Milk Powder and
Coconut Cream Powder), By Nature (Organic and Conventional), By End-Use (Food and Beverage Processing, Personal Care and
Cosmetics, Functional Foods and Dietary Supplements, Foodservice/HoReCa and Household), by distribution channel (Direct
Sales/B2B, Indirect Sales- Hypermarkets/Supermarkets, Convenience stores, Mass Grocery Retailers, Specialty Stores and
Online Retailing) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, MEA and
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of
Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses
opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel
and End Use over the next 10-years.
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