Industry Background:
Coconut milk powder is a fine, white powder which is widely used in Southeast Asian and other cuisines. It is manufactured by the spray drying procedure of raw unsweetened coconut cream & is reconstructed with water for usage in recipes. Numerous commercially available coconut milk powders contain milk or casein as their main ingredients. The important driver is a growing lactose intolerant population that creates demand for coconut milk powder. Coconut milk powder is mainly used as a substitute for milk powder that contains lactose. Also when coconut milk is not obtainable coconut milk powder is used as substitute. It has a wide range of applications & is great for soups, curries, sauces, seafood & vegetable dishes as well as cakes, desserts, biscuits, and beverages.
According to AMA Research, the market for Coconut Milk Powder is expected to register a CAGR of 9.16% during the forecast period to 2030. This growth is primarily driven by Growing Lactose Intolerant Population Increasing Demand for Coconut Milk
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Tonnes |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Sambu Group (Singapore), Cocomi Bio Organic (Shri Lanka), Renuka Foods PLC (Shri Lanka), Nestlé S.A. (Switzerland), Fresh Fruit Ingredients Inc. (Philippines), HolistaTranzworld Limited (India), Baghban Foods (India), AYAM SARL. (France), Enature Organic Products (Mexico) and S & P Industries Sdn Bhd (Malaysia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On December 7, 2023 – DKSH’s Business Unit Consumer Goods, a leading partner for companies seeking to grow their consumer goods business in Asia and beyond, is proud to announce a new strategic partnership with S&P Industries Sdn. Bhd., a local manufacturing and production company specializing in the production of coconut products. This collaboration aims to expand S&P’s presence in the West Malaysian market by capitalizing on DKSH’s extensive distribution network and profound local expertise.
In August 2023, AXELUM Resources Corp. launched its latest coconut milk powder in flexible retail pouches to boost its branded segment for the consumer market. and In a media release on Monday, the coconut product manufacturer said its Fiesta Coconut Milk Powder may be used as an ingredient in different dishes or as a dairy substitute.The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies
Influencing Trend:
Growing Consumption of Vegan Desserts and Ice Creams
Market Growth Drivers:
Growing Lactose Intolerant Population Increasing Demand for Coconut Milk, High Use of Coconut Milk in Food and Beverage Industry and Growing Popularity of Asian Cuisine
Challenges:
High Cost of Product
Restraints:
Growing Health Risks Associated With Excess Consumption of Coconut Milk Powder
Opportunities:
High Availability of Coconut and Rising Tourist Population Visiting Countries in Asia
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Coconut Milk Powder Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Coconut Milk Powder Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Coconut Milk Powder players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Coconut Milk Powder Study Sheds Light on
The Coconut Milk Powder Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Coconut Milk Powder industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Coconut Milk Powder industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.