Market Overview:
Global Coconut Milk Derivatives Market is estimated to touch a valuation of USD 4,423.5 Million by 2023, It is Projected to register 14.80% CAGR over the forecast period (2020-2027).
The coconut milk market refers to the global industry involved in the production, distribution, and consumption of coconut milk, a creamy liquid extracted from the grated meat of mature coconuts. Coconut milk is widely used in various cuisines, particularly in Southeast Asian and South Asian dishes. It is also gaining popularity as a dairy milk alternative among consumers following vegan, lactose-free, or plant-based diets.
The coconut milk market growth will be driven by the rising awareness about the health benefits. Based on the research report, the surge in lactose intolerance will accelerate growth in the market till 2027. Although fluctuating coconut prices will have a negative impact on the global coconut milk market’s growth during this period. The availability of alternative solutions is predicted to be a key challenge which could become a strong threat from 2018 to 2027 to companies. The market report published by expert analysts includes primary and secondary data and suggests that category, form, packaging type, and distribution channels segments are anticipated to witness tremendous growth till 2027. Factors such as the growing application areas will become key growth drivers during the forecast period and the surging usage across different industries is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by shrinking research and development budgets which could negatively affect activities taking place across the market. The unstable price of coconuts is another challenge the market could face till 2027.
The demand for coconut milk is driven by its nutritional profile, rich flavor, and versatility in culinary applications. Coconut milk is a good source of healthy fats, vitamins, and minerals, making it a popular ingredient in the preparation of curries, soups, sauces, desserts, and beverages. It adds a unique creamy texture and tropical taste to a wide range of dishes, appealing to both traditional and innovative cuisines.
Key Players:
Key players in the Coconut Milk Derivatives Market report include McCormick Company, Inc. (US), Goya Foods, Inc. (US), Dabur India Ltd. (India), Ducoco (Brazil), Vita Coco (US), Celebes Coconut Corporation (The Philippines), Thai Agri Foods Public Co., Ltd. (Thailand), The Hain Celestial Group (US), Heng Guan Food Industrial Pte Ltd. (Singapore), and ThaiCoconut (Thailand).
Coconut milk based organizations are profiled in the market research report. The coconut milk market along with companies and segments has been studied. The analysis of coconut milk based business is also done to identify key challenges and strengths of these companies. The global coconut milk market research report covers SWOT analysis, Porter’s Five Force analysis of major coconut milk related organizations. The strategy and other key details of these companies for the forecast period 2018 to 2027 are covered in the report.
Market Segmentation:
The coconut milk industry is segregated into different market segments based on category, form, packaging type, and distribution channels. For a comprehensive analysis of the market, the category, form, packaging type, and distribution channels segments are further split into smaller segments. The category segment is categorized into conventional and organic. Furthermore, based on distribution channels, the global market is also segmented into powder and liquid. Based on the market segmentation analysis, the report covers market forecasts. On the basis of form, the global market is split into sub segments including bottles, cans, pouches, and others. The packaging type segment is categorized into store-based and non-store-based.
Favorable government policies will support the market growth from 2018 to 2027. As per the market research report, the global market for coconut milk is anticipated to grow at a healthy rate across all the category, form, packaging type, and distribution channels segments. However, the presence of active threats such as concerns regarding side effects could hamper the market growth. Business activities across coconut milk have also been examined and studied by coconut milk industry’s experienced analysts. The coconut milk market research report covers findings with predictions and forecasts till 2027.
Regional Analysis:
The coconut milk market, with its product and service related segments, is spread across the world. coconut milk based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The increasing preference of consumers is anticipated to be a major factor for growth across the coconut milk space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The coconut milk sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. coconut milk based businesses in these regional markets are anticipated to grow due to growing investments across different sectors during the forecast period 2018 to 2027. Although the market’s growth could be affected by the fluctuating prices of raw materials. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.
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