Market Scope

Market Research Future (MRFR) believes that the coconut milk coconut milk derivatives market could reach close to USD 4,423.5 Million by 2027. Market Research Future (MRFR)’s findings also reveal that the projected growth rate of the market should be 14.80% between 2020 and 2027.

Growth Boosters and Deterrents

The consistent rise in the economic standards across the world, especially in emerging countries, in conjunction with the rising spending capacity of the people will ensure bolstered demand for coconut milk and its derivatives in the years to come.

A host of nutritional benefits associated with coconut milk including healthy fatty acids’ presence, ability to foster heart health and facilitate rapid fat burning add to its appeal. Its antimicrobial impact raises its consumption rate among consumers as well. The heightened use of coconut milk and coconut milk derivatives in the food service industry across prominent countries will encourage business growth too. Another growth rendering factor can be the prevalence of hectic lifestyles that gives rise to time-pressed consumers, which inclines them towards the product that remains fresh for a very long time.

Top Companies

Celebes Coconut Corporation (The Philippines), Thai Agri Foods Public Co., Ltd. (Thailand), Dabur India Ltd. (India), Ducoco (Brazil), Vita Coco (US), McCormick Company, Inc. (US), Heng Guan Food Industrial Pte Ltd. (Singapore), The Hain Celestial Group (US), ThaiCoconut (Thailand), Goya Foods, Inc. (US), are the eminent coconut milk and coconut milk derivatives developers covered in the extensive study.

Segmental Review 

Conventional and organic are the top categories considered in the study. The conventional segment takes the lead while the organic category could anticipate significantly rapid growth at a rate of 17.16% over the conjectured period.

Major types of coconut milk and its derivatives are coconut milk and coconut derivatives. Coconut milk forms the highest share of around 55.65% and therefore, dominates the worldwide market. Coconut milk enjoys considerable demand thanks to its preference as a drink among consumers, while its use as a cooking ingredient adds to the segment’s value as well. Meanwhile, the coconut milk derivative type should grow at a stellar pace due to the escalating preference for natural ingredients for use in a variety of food beverages.

Different packaging types are pouches, cans, bottle and others. The cans section holds 35.61% share in the total market, since these packaging types are known for their airtight nature as well as a dependable storage property at extreme temperatures. Bottles remains the second-biggest segment but the mounting environmental concerns have knocked down the demand for plastic bottles to a large extent.

Food service and food retail are the major distribution channels, where the food retail section has taken the lead with the highest share of 69.84% in the market.

Regional Insight

North America thrives as the top contender in the worldwide market, and could secure a 15.25% growth rate over the appraisal period. The significant consumption of a variety of coconut derived products and the launch of different coconut-based products by renowned brands like VitaCoco will bolster the business value. Consumers’ penchant for nutritious and healthy items and their increasing spending on these products, regardless of the premium prices should further benefit the North American market. The blossoming middle-class working population with huge preference for online shopping will further the market position.

Asia Pacific could accumulate the fastest development rate in the future, as consumers are progressively growing aware about the health advantages of coconut milk, therefore using it in their daily diets. Surging prominence of healthy eating habits combined with the notable increase in people’s disposable incomes boost business growth as well. Manufacturers in the region are constantly infusing coconut milk and its derivatives in their cosmetic, and pharmaceutical products, resulting in considerable demand among consumers. Other than this, incredible rise in quick service restaurants, hotels, lounges, cafes and fine dining restaurants encourages market demand. The surge in the organized retail sector should further accelerate market growth across Asia Pacific.

Recent Updates

February 2022

HEMP LOVE launches three flavors of Coconut, Espresso and Roasted Almond that are extremely healthy and tasty. Containing organic coconut milk along with protein rich hemp hearts, these are dairy free, organic, paleo friendly, and vegan. The chocolate bars are also crunchy, naturally sweet and creamy, which the customers can indulge without any regrets.

January 2022

So Delicious, Danone subsidiary, confirms the latest range of Coconut milk Yogurt Alternatives infused with Botanical Extracts. So Delicious Yogurt Alternative infused with Botanical Extracts have organic coconut, 7-8 grams of sugar, active and live cultures and no artificial sweeteners and preservatives. The brand says that every purchase will help support the Philippine coconut farmers via the Good People Loop.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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