The Global Coconut Milk Powder Market size is expected to reach $90.4 Million by 2026, rising at a market growth of 12.5% CAGR during the forecast period. Coconut milk powder is a fine white powder specially used in the countries of Southeast Asia. Coconut milk powder is produced by spray-drying raw non-sweetened coconut cream and is reconstituted with water for use in recipes that call for coconut milk. Currently sprayed coconut milk powder is available in convenient and ready-to-use packs with the same freshness of fresh coconut milk. It’s robust and easy to use.
The growing population of lactose intolerance, which increases the demand for coconut milk powder as it is used as a substitute for lactose-containing milk powder, is a key factor expected to boost the growth of the global market over the forecast period. Furthermore, rising demand for coconut milk powder in the manufacturing of beverages is another factor anticipated to further fuel growth in the market over the forecast period. In addition, the increasing development of new products by different manufacturers to meet the needs of consumers is another factor projected to boost the growth of the market during the forecast period.
Nevertheless, fluctuating prices of coconuts and related products are a key factor to hinder global demand growth during the forecast period. A continuous trend in the target market is to expand the usage of coconut milk powder in various foods and beverages applications as an alternative to traditional milk powder. Manufacturers’ production of organic vegan coconut milk powder and vegan coconut milk powder is projected to provide potential income opportunities for key players in the market.
Consumers are driving the shift to the consumption of plant-based food products. They consider multiple factors, such as plant source, animal welfare problems, etc., while purchasing a specific product. As a result, companies are trying to create vegan products according to consumer needs. Food and beverage producers can often use coconut milk products to produce vegan goods in order to boost their final products and nutritional value. The inclination of consumers for vegan products is also projected to have a positive impact on the growth of the market for coconut milk products.
Based on Product, the market is segmented into Conventional and Organic. Based on Application, the market is segmented into B2B (Business to Business) and B2C (Business to Consumer). Based on Distribution Channel, the market is segmented into Offline and Online. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A., Associated British Foods PLC (Wittington Investments Limited), Danone S.A., McCormick & Company, Inc., GraceKennedy Limited, Bramble Berry, Inc., BareOrganics, King Arthur Flour Company, Inc., Healthworks (Dignity Health), and Cocomi Bio Organic.
Scope of the Study
• Conventional and
• B2B (Business to Business) and
• B2C (Business to Consumer)
By Distribution Channel
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Nestle S.A.
• Associated British Foods PLC (Wittington Investments Limited)
• Danone S.A.
• McCormick & Company, Inc.
• GraceKennedy Limited
• Bramble Berry, Inc.
• King Arthur Flour Company, Inc.
• Healthworks (Dignity Health)
• Cocomi Bio Organic
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
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• Assured post sales research support with 10% customization free
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