About Coconut Milk Products
Coconut milk products are produced from the coconut with further processing. Coconut milk products are rich sources of vitamins, fibers, iron, calcium, phosphorus, sodium, and other nutrients. It is used as an alternative for conventional milk especially by lactose intolerance people. 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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 7.1% |
The key market players focus on strategies such as the adoption of new technologies to develop innovative products, and further enlargement of sales and distribution channels. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Coconut Milk Products market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Danone S.A. (France), Goya Foods, Inc. (United States), Gracekennedy Limited (Caribbean), Mccormick & Company, Inc. (United States), Nestle S.A. (Switzerland), Pacific Foods Of Oregon, Llc (United States), Sambu Group (United States), THAI Agri Food Plc (Thailand), Thai Coconut Public Company Limited (Thailand) and Celebes Coconut Corporation (Philippines) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Coconut Milk Products market by Type (Full Fat Coconut Milk, Lite Coconut Milk, Refrigerated Coconut Milk, Cream of Coconut and Coconut Milk Powder), Application (Food and Beverages, Cosmetics & Personal Care and Others) and Region.
On the basis of geography, the market of Coconut Milk Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Nature, the sub-segment i.e. Organic will boost the Coconut Milk Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. B2B will boost the Coconut Milk Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Flavor, the sub-segment i.e. Sweetened will boost the Coconut Milk Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Health Benefits of Coconut Milk Products Capturing Consumers’ Interest and Increasing Consumers prefer the use of plant-based cosmetic products
Market Growth Drivers:
Consumers drive the shift to plant-based food products consumption and Increased prevalence of lactose intolerance
Challenges:
The stringent Government Regulations
Restraints:
The fluctuating Prices of coconut
Opportunities:
The upsurging adoption of veganism and The growing demand from the untapped market of Africa and the Asia Pacific
Market Leaders and their expansionary development strategies
In 2019, Nestlé SA invests USD 72 million in the single largest coconut milk processing plant in Sri Lanka. It helped them in increasing product offering to wider customers in the food and beverage industry
In 2018, GraceKennedy Limited increased its new product offerings of coconut milk powder on Amazon. It was priced between USD 14.94 and USD 38.49 and sold under the Grace brand.
Key Target Audience
Coconut Milk Products Manufacturer, Suppliers, Distributors, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.