Key Coconut Milk Market Players, Key Drivers and Restraints, Regional Analysis, End-User Applicants By 2030

Comments · 19 Views

Coconut milk market is expected to be worth USD 3.128578947 billion by 2030, growing at a 18.10% CAGR due to the increasing prevalence of lactose intolerance

Coconut Milk Market Overview:

The coconut milk market is growing all over the world. By 2032, the coconut milk market is going to have a valuation of $ 3.128578947 Billion. It will grow at a rate of 18.10% from the year 2023 to 2032.

There are lots of reasons why the Coconut Milk Market is growing very fast in the global market.

The first reason is lactose intolerance among consumers. This reason plays a crucial role in boosting the coconut milk market. Other reasons can be awareness of health, increasing popularity of Asian dishes, increase in vegan population, changing preferences of the consumers, packaging styles, etc.

The reasons why the market can see a decline are continuously fluctuating prices of coconuts, revenue losses, etc.

The COVID-19 pandemic has also affected the coconut milk market severely. Shutdowns of the industrial units, a decline in demand, reduced supply chains, and eventually, a loss of revenue contributed to this.

Segmentations:

Let us now discuss the segmentation of the coconut milk market. We will also see the various classifications in those segments.

● Based On Category

The coconut milk market is divided into organic and conventional categories. In the conventional category, coconut milk is produced with the use of traditional methods; in the organic category, it is produced by machines. Coconut milk is produced with the help of machines.

● Based On Forms

The coconut milk market is classified into two forms: liquid and powdered. Out of these two liquids, coconut milk is considered the people’s choice.

However, powder from coconut milk is going to see the highest CAGR of 14.78%.

● Based On Packaging

The coconut milk market is divided into various packaging types like pouches, cans, bottles, etc. Out of all of this, can packaging is leading the industry because of its strength and stability.

● Based On Channels

The coconut milk market is divided into store-based and non-store-based channels. Store-based channels are dominating the global market. These stores make it easy for consumers to get what they want. These can be supermarkets, shops, malls, etc.

Key Players:

The Key Coconut Milk Market Players, including McCormick & Company Inc. (US), Goya Foods Inc. (New Jersey), Dabur India Ltd (India), Ducoco (Brazil), Vita Coco (US), Celebes Coconut Corp. (Philippines), Thai Agri Foods Public Co. (Thailand), Danone SA (France), Theppadungporn Coconut Co. Ltd (Thailand), ThaiCoconut Public Company (Thailand).and others, are attempting to increase market demand by investing in research and development operations.

 Regional Classifications:

According to the research, Asia Pacific captured the dominating share in the coconut milk market in 2023 as it was growing at a rate of 14.50% because the main ingredient in all Asian dishes is coconut milk. People are also becoming vegan at a very high rate in this region and are also one of the main reasons for it.

North America is the second most dominant region in the coconut milk market. Here also, people are becoming vegan, giving importance to natural products, and becoming health-conscious. North America also has a significant number of people who are lactose intolerant.

The other region that is seeing a great boom in the coconut milk market is Europe, as the popularity of plant-based beverages and natural products is increasing.

Industry News:

● In January 2021, QuikFood introduced their latest product, named Quik Tea Vegan Chai Tea Latte.

● In the same year, Nescafé also introduced their vegan flat white pods in the UK.

About Market Research Future:

Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.

Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.

Contact Us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com/

Comments