Coconut Milk Market

Global Coconut Milk Market Size

The global coconut milk market size was valued at USD 1.89 billion in 2024, and the global market size is expected to reach USD 3.71 billion by 2033 from USD 2.04 billion in 2025. The market's promising CAGR for the predicted period is 7.74%.

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. 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 is 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, phosphorus, and iron. It contains cytokinin or zatine that helps in the growth of crops. 

MARKET DRIVERS

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 reresistanceramework, along these lines supporting ihe prevention of a few ailments.

 The high levels of lauric corrosive found in coconut milk are effectively consumed by the body and utilized for energy. It additionally helps in bringing down cholesterol levels, improving pulse, and preventing 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. A significant restriction for the coconut milk market is the constrained sources of delicate coconuts utilized for the preparation of the product. Its overabundant utilization can cause high blood cholesterol by increasing high-density lipoprotein cholesterol levels and lead to hypersensitivities. These elements may confine the coconut milk market's development over the forecast time frame.

MARKET RESTRAINTS

Rising interest in plant-based food items will drive the market development. Expanding the selection of coconut milk items in a few food plans is another factor boosting the market growth. The expanding pervasiveness of lactose intolerance in North America and Europe will support the marketDeveloping mindfulness about the medical advantages of coconut milk will likewise fuel the development of the market in the forecast period. Expanding hypersensitivities because of the high utilization of coconut milk will hamper the development of the market. Accessibility of substitutes to coconut milk, for example, spiced milk, soy milk, and yogurt, frustrates the market development. The significant expense of coconut milk, when contrasted with dairy milk, is another factor limiting the development of this market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

By Distribution Channel Insights                        

Liquid coconut milk is the main segment, which is developing at a generous CAGR to reach USD 1,550.5 million by the end of 2025. The fragment is anticipated to achieve market strength all through the estimated time frame as it is a readily accessible type of coconut milk and is favored for use as a drink.

The powdered coconut milk section is expected to witness the fastest CAGR of 14.78% during the fforecast periodbecause 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 compared to coconut milk is creating obstacles in the fragment development.

Based on the distribution channel, the coconut milk market is divided into store-based and non-store-based. Store-based channels were the prevailing segment in 2018 and are probably going to remain so over the forecast period. Strong development of composed retail far and wide is one of the significant drivers of the development of this market segment. Claim to fame stores are probably going to pick up conspicuousness over the term.

REGIONAL ANALYSIS

Asia-Pacific represented the biggest portion of the overall industry in 2024 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 expected to remain high in the region during the forecast period. The significant development factor for the coconut milk market in Asia-Pacific is the elevated level of lactose intolerance among 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 2024. The US represented the most noteworthy piece of the pie in North America and expected to stay predominant throughout the forecast period, inferable to the growing trend of veggie lovers seeking fewer carbs in the nation. This has contributed fundamentally to the developing interest in 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 2024. The rest of Europe represented the most elevated piece of the overall industry in the European market. The flooding interest in plant-based drinks and items containing common ingredients is are urgent determinant of powering provincial development. The Middle East and Africa areas are expected to develop at a moderate rate during the conjecture time frame.

KEY MARKET PLAYERS

Key market players of the Global Coconut Milk Market are WhiteWave Foods, McCormick, Theppadungporn Coconut Co. Ltd, Goya Foods, Pureharvest, Edward & Sons, Chi, Ducoco, iTi Tropicals, Thai Agri Foods, Turtle Mountain, and Pacific Foods.

RECENT HAPPENINGS IN THE MARKET

• Koko Dairy Free named Southpaw as the leading creative communication agency. The company has appointed a selected creative agency as it prepares for a major marketing investment focused on growing consumer interest in coconut milk as a dairy-free alternative.
• Vita Coco launched a dairy alternative, low-calorie, low-fat coconut milk. The new product was intended to meet the demand of health-conscious customers. Light coconut milk is made from a mixture of coconut water and coconut cream and contains 20 calories per 100 ml. According to the company CEO, Coconut-based innovation is at the heart of everything they do at Vita Coco. Their latest milk offering is just one more step in expanding the brand, and they are planning to innovate in all categories in the coming years.
• Ceylon Biscuits Limited (CBL) launched a new product that was marketed under the "Sera" brand. Sera is a premium liquid coconut milk that is conveniently available in 180 ml UHT packages. The company focused on expanding its coconut milk business to the market. The company has invested over INR 2 billion to establish a state-of-the-art factory that hygienically extracts, sterilizes, and conditions coconut milk, using high-quality machines and technologies from Europe. The Coconut Development Board (BDC) was a statutory body created by the Ministry of Agriculture, the Indian government launched coconut milk flavored with pistachio, rose, and chocolate. This new product is a rich source of iron and copper.

MARKET SEGMENTATION 

This research report on the global coconut milk market has been segmented and sub-segmented based on form, application, distribution channel, and region. 

By Form                        

• Liquid        
• Powder    
• Nature                          
• Organic     
• Conventional         

By Application     

• Household              
• Food and beverages           
• Cosmetics and personal care           
• Other applications               

By Distribution Channel                                

• Hypermarkets and supermarkets 
• Specialist retailers
• Convenience stores   

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle-East & Africa