Asia-Pacific Coconut Milk Market Outlook

Coconut Market Share refers to the thick white liquid extract of coconut. Coconut milk is obtained by grating and then extracting the liquid from coconut meat. Coconut meat is extensively used in various food industries for improving the aroma, flavor, and nutrient content of the food.

Coconuts are a popular ingredient in many different cuisines around the world, and its milk is an important part of many recipes. Coconut milk has become increasingly popular over the years as a dairy-free alternative to traditional dairy products, with demand for it growing in both the food industry and health and wellness markets.

The global coconut milk industry by 2032, with a compound annual growth rate of 12.50%. This growth is driven by the rising demand for plant-based alternatives to dairy products and an increasing preference for natural and organic products. Coconut milk is also gaining traction in the health and wellness market due to its high nutritional value. It contains lauric acid, which is believed to boost immunity and fight infection, as well as medium-chain triglycerides, which can help reduce cholesterol levels and improve metabolism.

The food industry is the largest consumer of coconut milk, as it is widely used in a range of products such as ice cream, curries, smoothies, and other desserts. Coconut milk is also widely used in the cosmetics industry, where it is used in a range of products such as soaps, lotions, shampoos, and conditioners.

As per the new report furnished by Market Research Future (MRFR) reveals that the Asia-Pacific Coconut Milk Market size is projected to register a CAGR of 18.1% and reach a value of USD 2,560.8 million by 2030.

Market Drivers and Challenges

The global Asia-Pacific Coconut Milk Market research is set to expand dramatically due to its increasing application in the food & beverage as well as agriculture industry. Moreover, shifting consumer dietary patterns coupled with the growing vegetarian population will be a few factors that will boost the product demand on a global platform. Because of environmental and ethical concerns, a greater number of people are inclining toward a vegetarian diet which in turn is augmenting the consumption of coconut milk. Coconut milk helps strengthen the immunity system of the body, in addition to reducing the incidence of illness.

A key restraint for the Asia-Pacific Coconut Milk Market Insights is the limited sources of tender coconuts that are required for the preparation of coconut milk. Increasing consumer health awareness plus an improved distribution network has been highly instrumental in the growing demand for the product. Coconut milk possesses lauric acid which is easily absorbed by the body for energy. Also, farmers make use of it to cultivate so that the rate of crop growth accelerates. The sum of all these factors is projected to fuel the Asia-Pacific Coconut Milk Market growth during the conjectured period.

Market Segmentation

The Asia-Pacific Coconut Milk Market is segmented on the basis of form, packaging, application, and distribution channel.

The Asia-Pacific Coconut Milk Market Share Revenue has been segmented on the basis of form, which is sub-segmented into powder, liquid, and others. The liquid form has been identified as the leading segment with a major share on account of its ready-to-drink and ready-to-use property.

The market is segmented on the basis of packaging, further segmented into the box, bottles, vacuum packs, cans, and others. The segment of bottle packaging has grabbed the lion’s share in the global Asia-Pacific Coconut Milk Market, owing to its on-the-go property and subsequent elevated demand globally.

The Asia-Pacific Coconut Milk Market outlook is segmented on the basis of application, which is sub-segmented into convenience foods, beverages, bakery and confectionery, dairy and frozen desserts, and others. Among these, bakery and confectionery account for a large share resulting from their wide application in various industries.

The Asia-Pacific Coconut Milk Market trends have been segmented based on distribution channels, which comprise hypermarkets and supermarkets, convenience stores, specialty stores, E-commerce, and others. The sale of coconut milk done through hypermarkets and supermarkets has been found to be high.

Regional Outlook

The global Key Asia-Pacific Coconut Milk Market Overview is spread across Europe, North America, Asia Pacific, and the Rest of the World (ROW).

Among these, the North American region holds a substantial market share followed by the market in the Asia Pacific. The strong market growth in the region is the result of the changing lifestyle which has led to the augmented adoption of a vegan and healthy diet by consumers. The market in Asia-Pacific is expected to generate a high revenue during the review period, with prominent importers of coconut milk including China, and Japan. The regional growth of the market is based on the growing demand for health drinks containing lesser calories. Also, the import and export of coconut milk in the developed economies in the region have been noted to be growing at a steady pace, which has proved to be highly beneficial for the coconut milk products market growth in the Asia Pacific.

Key Players

Asia-Pacific Coconut Milk Market, including McCormick & Company, Goya Foods, Inc., Dabur India Ltd, Thai Agri Foods Public Co., Ltd, Danone S.A., Theppadungporn Coconut Co., Ltd, ThaiCoconut Public Company Limited, Edward & Sons Trading Co, Vita Coco, and Celebes Coconut Corporation are some of the prominent companies making a massive contribution to the global Asia-Pacific Coconut Milk Market.

Read More : https://www.marketresearchfuture.com/reports/asia-pacific-coconut-milk-market-10336

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

+1 646 845 9312

Email: Sales@marketresearchfuture.com  

Browse Related Reports

Lavender Extracts Market Research Report: Information By Type (Powder and Liquid), By Applications (Cosmetics, Food & Beverages and Pharmaceuticals) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Confectionery Fillings Market Research Report Information by Type (Fruit Fillings, Non-fruit Fillings, Nut-Based Fillings), Form (Liquid, Semi-Liquid, Solid), Application (Bakery, Chocolate, Gummies, Others), and Region (North America, Asia-Pacific, Europe, South America, and the Middle East & Africa) —Forecast till 2030