Global Coconut Milk Market Shows Rapid Growth, Reaching $2.9 Billion by 2027

Allied Market Research Presents Comprehensive Industry Analysis

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 6, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Coconut Milk Market by Packaging Type, Category, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global coconut milk market size was valued at $1.1 billion in 2019 and is anticipated to reach $2.9 billion by 2027, with a CAGR of 17.1% during the forecast period.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/11519

Coconut milk and its products are still in nascent stages in various regions of Africa, such as Zimbabwe, Liberia, Eritrea, and Burundi, along with other developing regions. These are still untapped, which present lucrative coconut milk market opportunities for manufacturers of coconut milk.

Increase in use of coconut-based products in food & beverage applications is expected to drive the market for coconut milk in the future. Coconut milk is widely used as ingredient in a variety of cosmetic products and processed food products such as cookies, cakes, milkshakes, and ice cream. With growth in consumption of processed food products, owing to rise in urban population, the demand for coconut milk is expected to grow at a significant rate in future.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The coconut milk market is expected to have an incremental revenue opportunity of $1.8 billion from 2019 to 2027. Growth is driven by rising consumer health consciousness and an improved distribution network. Consumers are willing to pay more for products offering health benefits, contributing to market development. Untapped markets in various African regions present lucrative opportunities for coconut milk manufacturers.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

Increased use of coconut-based products in food & beverage applications. Coconut milk is utilized in various cosmetic products and processed food items like cookies, cakes, milkshakes, and ice cream. Growing consumption of processed food products due to the rise in the urban population is expected to drive coconut milk demand.

𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 : https://www.alliedmarketresearch.com/connect-to-analyst/11519

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:
Segmented based on packaging type, category, end user, distribution channel, and region.
Packaging types include plastic bottles, tetra packs, and cans.
Tetra packs are a prime packaging type with significant growth, reaching $1,778.8 million by 2027.

𝐂𝐚𝐭𝐞𝐠𝐨𝐫𝐲 𝐚𝐧𝐝 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫:
The conventional category dominates the coconut milk market, driven by the widespread availability of conventional coconut products globally.
Food services are the major end user, with increased purchasing power and spending on luxury foods leading to rapid growth.

𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:
Retail distribution channels, including hypermarkets/supermarkets, lead with significant market share and a substantial growth rate.
Large shelf space availability contributes to maximum sales in this channel.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Asia-Pacific is the prominent region, with a huge consumer base and population growth.
Small and medium-sized enterprises (SMEs) in the region are targeting online sales channels and investing in marketing and advertising activities.
Surge in the penetration of organic coconut milk among consumers fuels market growth.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A11154

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

The organic coconut milk market size was valued at $435.7 million in 2019, and is anticipated to reach $1227.2 million by 2027, with a CAGR of 18% during the forecast period.

In 2019, by packaging type, the tetra packs segment held the highest share, accounting for 62.6%.

On the basis of end user, the food services segment led the market, garnering 54.07% of the global coconut milk market share in 2019.

Depending on distribution channel, the direct distribution segment is estimated to exhibit the highest CAGR of 18%.

In 2019, Asia-Pacific was the most prominent market, and is expected to grow at a significant CAGR throughout the forecast period.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 𝐚𝐫𝐞 :

• McCormick & Company Inc. (US)
• Goya Foods Inc. (New Jersey)
• Celebes Coconut Corp. (Philippines)
• Vita Coco (US.)
• Celebes Coconut Corp. (Philippines)
• Thai Agri Foods Public Co. Ltd (Thailand)
• Danone SA (France)
• Pureharvest (Australia)
• Thai Coconut Public Company (Thailand)
• Dabur India Ltd (India).

𝐁𝐔𝐘 𝐍𝐎𝐖 : https://www.alliedmarketresearch.com/checkout-final/ba2e4c41f6b8e92a7565b67c75758a88

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

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David Correa
Allied Market Research
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