Growing consumer demand for dairy alternatives has increased the market’s investment potential. Companies that sell plant-based milk are growing their clientele and emphasising the availability of cutting-edge product lines. Rapid consumer preference for dairy-free goods has produced profitable investment opportunities for big firms. As a result, one of the major drivers boosting the Coconut Milk Market is the rise in investment activity in the plant-based milk industry.
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The consumption of coconut milk is projected to rise from 2022 to 2032 at a strong CAGR of 8.5%. Currently valued at US$ 1.66 billion, the worldwide coconut milk industry is anticipated to grow to US$
Currently, sales of coconut milk worldwide represent a 10% to 12% value share of the market for plant-based milk.
Key Takeaways from Market Study
- The market for coconut milk is expected to grow at a CAGR of 10.4% in South Asia through 2032.
- Market shares of South Asia and Oceania are 17.2% and 6.7%, respectively, in 2022.
- The Europe coconut milk market is currently pegged at 148,011 tons.
- Growing consumer preference for healthy and nutritious food products is driving the sales of coconut milk across the world. Based on nature, demand for organic coconut milk is expected to increase at a CAGR of 9%.
- Although by flavor, unsweetened coconut milk holds the highest market share, sales of sweetened coconut milk are set to increase at a CAGR of 8.9%.
- COVID-19 disrupted the supply chain of coconut milk, due to which, the market was affected. However, it is expected to witness significant growth going ahead with increasing consumer demand for healthy and nutritious food products.
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Coconut Milk Industry Survey by Category
Coconut Milk Market by Nature:
- Organic Coconut Milk
- Conventional Coconut Milk
Coconut Milk Market by Product Type:
- Full Fat Coconut Milk
- Low Fat Coconut Milk
- Coconut Milk Cream
- Coconut Milk Powder
Coconut Milk Market by Flavor:
- Sweetened Coconut Milk
- Unsweetened Coconut Milk
Coconut Milk Market by End Use:
- Food and Beverages
- Foodservice
- Retail/Household
- Others
Coconut Milk Market by Distribution Channel:
Business to Business
Business to Consumer
- Hypermarkets/Supermarkets
- Specialty Stores
- Online Retail
- Other Retail Sectors
Coconut Milk Market by Region:
- North America Coconut Milk Market
- Latin America Coconut Milk Market
- Europe Coconut Milk Market
- South Asia Coconut Milk Market
- East Asia Coconut Milk Market
- Oceania Coconut Milk Market
- Middle East and Africa Coconut Milk Market
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FAQ’s:
- How much is the coconut milk market worth?
- Which region dominates the global market for coconut milk?
- Which end use of coconut milk is showing high potential growth?
- Who are the leading manufacturers of coconut milk?
- At what rate is the South Asia and East Asia markets predicted to expand?
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