Coconut Milk Powder Market Size 2024 To 2025
- The global coconut milk powder market size reached USD 280.3 Million in 2023.
- The coconut milk powder market size is expected to reach USD 855.5 Million by 2032, exhibiting a growth rate (CAGR) of 12.50% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest coconut milk powder market share.
- Conventional powder accounts for the majority of the market share in the product segment due to its lower price point.
- Unsweetened powder holds the largest share in the coconut milk powder industry, owing to its versatility in various culinary applications.
- Pouches remain a dominant packaging type segment in the market, as they are easy to store, resealable, and extend the shelf life of coconut milk powder.
- Beverages represents the leading application segment.
- B2B channels accounts for the majority of the share in the market, as these partnerships allow producers to secure large contracts.
- The rising popularity of plant-based alternatives to dairy products is a primary driver of the coconut milk powder.
- The increasing awareness of the health benefits associated with coconut milk powder are reshaping the coconut milk powder market.
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Industry Trends and Drivers:
- Rising Demand for Plant-Based Alternatives:
The increasing consumer demand for plant-based alternatives to dairy products is one of the major factors boosting the market growth.
Moreover, the rising adoption of vegan, lactose-free, and plant-forward diets, leading to the popularity of coconut milk powder among those looking for dairy-free options, is fueling the market growth.
Additionally, the heightened product application as a convenient substitute in cooking, baking, and beverage preparation due to its long shelf life and ease of use is bolstering the market growth. Furthermore, the growing concerns among consumers about environmental sustainability and animal welfare propelling the shift toward coconut-based products are enhancing the market growth.
- Increasing Awareness of Product Health Benefits and Nutritional Value:
The increasing awareness of coconut milk powder’s health benefits is positively impacting the market growth. It is packed with essential nutrients, such as healthy fats, vitamins, and minerals, that make it an attractive choice for health-conscious consumers.
Moreover, coconut milk powder contains medium-chain triglycerides (MCTs), which are known to provide quick energy and support fat burning, making it popular among those following ketogenic or low-carb diets. Besides this, it is also rich in electrolytes like potassium, magnesium, and phosphorus, which help maintain hydration and proper muscle function.
Furthermore, the increasing focus on research that reveals the positive impacts of coconut-based products on cholesterol levels, heart health, and digestion is enhancing the market growth.
- Expanding Use in Food and Beverage (F&B) Industry:
The versatility of coconut milk powder in the food and beverage industry is creating a positive outlook for the market.
Moreover, the rising ability of coconut milk powder to blend easily into various recipes that make it a preferred ingredient for manufacturers of instant beverages, baked goods, and packaged foods is fueling the market growth. It serves as a flavor enhancer and a base for soups, sauces, and curries, making it a staple in cuisines.
Besides this, the increasing popularity of ethnic foods that contribute to the growing demand for coconut milk powder, as consumers seek to recreate authentic flavors at home, is enhancing the market growth.
Coconut Milk Powder Market Report Segmentation:
Breakup By Product:
- Conventional
- Organic
Conventional account for the majority of shares as it is widely available and affordable compared to organic alternatives.
Breakup By Type:
- Sweetened
- Unsweetened
Unsweetened dominates the market as it aligns with consumer preferences for natural and healthier products.
Breakup By Packaging Type:
- Pouches
- Cartons
- Bottles
- Others
Pouches represents the majority of shares as it offers lightweight, convenient, and cost-effective packaging solutions that appeal to manufacturers and consumers.
Breakup By Application:
- Beverages
- Savories
- Bakery & Confectionery
- Dairy & Frozen Products
- Others
Beverages exhibits a clear dominance as coconut milk powder is used in beverages such as smoothies, coffee, and shakes due to its creamy texture and plant-based appeal.
Breakup By Distribution Channel:
B2B
B2C
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retailers
- Others
B2B channels hold the majority of shares as they purchase coconut milk powder in bulk for use in various recipes and packaged foods.
Breakup By Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Asia Pacific holds the leading position owing to a large market for coconut milk powder driven by the highest coconut production and the growing consumer awareness of plant-based diets.
Top Coconut Milk Powder Market Leaders:
The coconut milk powder market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- Anthony's Goods (ACH Food Companies Inc.)
- BareOrganics
- Bramble Berry Inc.
- Ben Kim Natural Health Solutions
- Enerhealth Botanicals LLC
- Grace Foods Canada Inc.
- Healthworks
- King Arthur Flour Company Inc.
- KOS Naturals
- Nestlé S.A.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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