Coconut Milk Market Size and Growth Rate:
Coconut Milk Market size is likely to grow at a compound annual rate of about 15% to reach USD 2.35 billion by 2023. Coconut milk is a fluid obtained by the manual or mechanical extraction of coconut, with or without water. The composition of coconut milk depends on the water used during the extraction procedure. Water also affects the content of fat and moisture in coconut milk. Coconut milk with a pH of 6 is considered slightly acidic in nature. Coconut milk contains two types of protein, albumins, and globulins in the 6% to 8% range. Manufacturers use the spray drying method to dry coconut milk in powder form, as it increases its shelf life and is also easy to transport. On average, a coconut gives 60 to 100 grams of coconut powder depending on its size.
It is a liquid obtained after mixing grated meat (excluding the brown portion) and mature coconut water. It is high in oil, most of which are saturated fats that help lower cholesterol, improve blood pressure, and prevent heart attacks. Grating meat can be done manually or using a grating machine. Its fat content depends on the fat level of the meat and is generally around 24%. Milk is a rich source of manganese, phosphorous, manganese, and iron. It contains cytokinin or zatine that helps in the growth of crops.
Impact of Covid-19 on the Global Coconut Powder Market:
The effect of coronavirus pandemic has a deep impact on the global coconut milk market, with the world coming to stand still and the entire lockdown in almost all regions of the world. However, in the coming years, there is a high probability that people tend towards healthier options like coconut milk. Also, there is a high chance for increased vegetarianism around the world, which is supposed to boost the target market in the coming years.
Coconut Milk Market Recent Developments:
Market Dynamics:
The utilization of coconut milk bestows a few medical advantages, which are required to fuel market development during the estimated time frame. The utilization of coconut milk helps in improving the resistant framework, along these lines supporting in the anticipation of a few ailments. The high measures of lauric corrosive found in coconut milk are effectively consumed by the body and utilized for vitality. It additionally helps in bringing down cholesterol levels, improving pulse, and forestalling coronary failures and strokes. Rising buyer familiarity with these advantages is bringing about an inclination for coconut milk over other dairy options, boosting the development of the global coconut milk market.
Significant restriction for the coconut milk market is constrained wellsprings of delicate coconuts utilized for the readiness of the item. Its overabundance utilization can cause high blood cholesterol by expanding high thickness lipoprotein cholesterol levels and lead to hypersensitivities. These elements may confine the coconut milk market development over the conjecture time frame.
Market Drivers
Market Restraints
Coconut Milk Market Segmentation Analysis:
Based on Form:
Based on Application:
Based on Distribution channel:
Liquid coconut milk is the main fragment, which is developing at a generous CAGR to reach USD 1,550.5 million before the finish of 2025. The fragment is anticipated to achieve market strength all through the estimated time frame as it is a promptly accessible type of coconut milk and is favored for utilization as a drink.
Powdered coconut milk section is relied upon to witness the quickest CAGR of 14.78% during the figure time frame because of its expanded time frame of realistic usability and expanding use in different cooking styles and drinks. In any case, the significant expense of coconut milk powder when contrasted with coconut milk is making obstacles in the fragment development.
Based on the distribution channel, the coconut milk market is portioned into store-based and non-store-based. Store-based channels were the prevailing fragment in 2018 and are probably going to remain so over the figure time frame. Strong development of composed retail far and wide is one of the significant drivers of the development of this market portion. Claim to fame stores is probably going to pick up conspicuousness over the figure time frame.
Geographical Classification of the Market:
On the basis of the geographical segmentation, the global Coconut Milk Market is segmented into different regions: North America (U.S. and Canada), Europe (U.K., France, Germany and Rest of Europe), Asia Pacific (Japan, China, India and Rest of APAC), Latin America (Brazil, Mexico and Rest of Latin America), and Middle-East & Africa (GCC and Rest of MEA).
Asia-Pacific represented the biggest portion of the overall industry in 2016 and is anticipated to develop at the most noteworthy CAGR of 14.50% during the conjecture time frame. Coconut milk is a basic piece of Asian food, and the interest for coconut milk powder is relied upon to stay high in the locale during the figure time frame. The significant development factor for the coconut milk market in Asia-Pacific is the elevated level of lactose intolerance among the buyers.
Asia-Pacific district is trailed by North America, which represented the second biggest piece of the overall industry and is assessed to surpass USD 629.1 million by 2023. The US represented the most noteworthy piece of the pie in North America and expected to stay predominant all through the gauge time frame inferable from the expanding pattern of veggie lover eats fewer carbs in the nation. This has contributed fundamentally to the developing interest of coconut milk in the nation.
Europe is a huge locale in the global coconut milk market. It represented a significant piece of the pie of 21.72%, starting in 2016. The rest of Europe represented the most elevated piece of the overall industry in the European market. The flooding interest for plant-based drinks and items containing common ingredients are urgent determinants of powering provincial development. Center East and Africa areas are evaluated to develop at a moderate rate during the conjecture time frame.
Leading Key Companies Covered in this market report are:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Form
5.1.1 Introduction
5.1.2 Liquid
5.1.3 Powder
5.1.4 Y-o-Y Growth Analysis, By Form
5.1.5 Market Attractiveness Analysis, By Form
5.1.6 Market Share Analysis, By Form
5.2 Nature
5.2.1 Introduction
5.2.2 Organic
5.2.3 Conventional
5.2.4 Y-o-Y Growth Analysis, By Nature
5.2.5 Market Attractiveness Analysis, By Nature
5.2.6 Market Share Analysis, By Nature
5.3 Application
5.3.1 Introduction
5.3.2 Household
5.3.3 Food and beverages
5.3.4 Cosmetics and personal care
5.3.5 Other applications
5.3.6 Y-o-Y Growth Analysis, By Application
5.3.7 Market Attractiveness Analysis, By Application
5.3.8 Market Share Analysis, By Application
5.4 Distribution channel
5.4.1 Introduction
5.4.2 Hypermarkets and supermarkets
5.4.3 Specialist retailers
5.4.4 Convenience stores
5.4.5 Y-o-Y Growth Analysis, By Distribution channel
5.4.6 Market Attractiveness Analysis, By Distribution channel
5.4.7 Market Share Analysis, By Distribution channel
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Form
6.1.3.3 By Nature
6.1.3.4 By Application
6.1.3.5 By Distribution channel
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Form
6.1.4.3 By Nature
6.1.4.4 By Application
6.1.4.5 By Distribution channel
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Form
6.1.5.3 By Nature
6.1.5.4 By Application
6.1.5.5 By Distribution channel
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Goya Foods
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Pureharvest
8.3 WhiteWave Foods
8.4 McCormick
8.5 Theppadungporn Coconut Co. Ltd.
8.6 Edward & Sons
8.7 Ducoco
8.8 iTi Tropicals
8.9 Thai Agri Foods
8.10 Pacific Foods
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
