Skip to main content

Coconut Milk Market to Hit USD 2,172.49 Million in 2028; Rising Adoption of Vegan Diet and Prevalence of Lactose Intolerance to Aid Growth, Says Fortune Business Insights™

Top companies covered in coconut milk market report are Givaudan (Switzerland), International Flavors & Fragrances (IFF) (U.S.), Symrise AG (Germany), Robertet Group (France), Kerry Group plc (Ireland), Sensient Technologies (U.S.), Firmenich SA (Switzerland), Takasago International Corp (Japan), T. Hasegawa Co., Ltd. (Japan), Mane (France), Archer Daniel Midland Company (U.S.), Solvay S.A. (Belgium), BASF (Germany), and more players profiled

Pune, India, June 28, 2021 (GLOBE NEWSWIRE) — The global coconut milk market is set to gain traction from the increasing awareness among consumers about the health benefits associated with vegan diet. The Plant Based Foods Association published its data in 2020 mentioning that the sales of plant-based milk surged by 5% the same year in the U.S. Companies are also grabbing this opportunity to launch their products in the market. As per a report by Fortune Business Insights™, titled, “Coconut Milk Market, 2021-2028,” the market stood at USD 919.57 million in 2020. It is projected to grow from USD 1,009.07 million in 2021 to USD 2,172.49 million in 2028 at a CAGR of 11.58% in the forecast period.


COVID-19 Pandemic: Disturbances in Raw Material Transportation to Hinder Growth

The outbreak of the COVID-19 pandemic has affected the market severely. Lockdown norms implemented by renowned regulatory bodies worldwide have resulted in the disruption in raw material transportation and high prices. Coconut and associated product manufacturers are therefore unable to continue their manufacturing processes. These factors are set to decline the demand for this type of milk amid the pandemic. 


Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/coconut-milk-market-105439  


Competitive Landscape:

Key Players Focus on Introducing New Products to Attract More Consumers

The market houses a large number of international and domestic companies that are presently focusing on launching unique products infused with coconut milk to attract more consumers. A few others are joining hands with start-up firms to co-develop novel food products containing this ingredient.

Below are the two crucial industry developments:

  • June 2020: Epigamia introduced a new line of plant-based yogurt in India. It is made of coconut milk and has a creamy texture. It is available in two flavors, namely, Coconut Jaggery and Unsweetened. Both are free from preservatives and high in probiotics.
  • March 2020: Kite Hill unveiled two new products, including Kite Hill Sour Cream Alternative, a plant-based sour cream made with almond milk and coconut, as well as Kite Hill Blissful, a creamy and thick range of yoghurts made of coconut milk.


List of reputed vendors operating in the Coconut Milk Market are:

  • Danone S.A. (Paris France)
  • Nestle S.A. (Vevey, Switzerland)
  • Dabur India Ltd. (Ghaziabad, India)
  • Cocomi Bio Organic (Sri Lanka)
  • The Coconut Company (UK) Ltd. (United Kingdom)
  • Coconuts of the Caribbean Ltd. (Tune Puna, Trinidad and Tobago)
  • Thai Coconut Public Company Ltd. (Thailand)
  • Pt. Sari Segar Husada (Indonesia)
  • Celebes Coconut Corporation (Cebu, Philippines)
  • Merit Food Products Co., Ltd. (Nong Khang Khok, Thailand)


Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/coconut-milk-market-105439   


Segments:

Organic Segment Held 26.80% Share in 2020: Fortune Business Insights™

Based on nature, the market for coconut is bifurcated into conventional and organic. Out of these, the organic segment procured 26.80% in terms of the coconut milk market share in 2020. This growth is attributable to the increasing trend of consuming clean-label products. Besides, organic products are gaining high popularity because of the rising demand for pesticide and chemical-free products from consumers.


Report Coverage:

We follow an innovative research methodology that includes data triangulation on the basis of bottom-up and top-down approaches. We conduct extensive primary research to validate the projected market numbers. We also derive information from paid databases, industry journals, SEC filings, and other authentic resources. The report includes numerous details, such as drivers, opportunities, challenges, and dynamics of the market.


Drivers & Restraints:

Increasing Incorporation in Bakery and Confectionery Items to Bolster Growth

Consumers nowadays are inclining rapidly towards plant-based products as they are considered to be healthier and safer, compared to animal-originated products. The Vegan Society, for instance, declared that in Europe, the U.K. is showcasing an exponential growth in its plant-based milk sector. In 2019, it stood at USD 320.6 million in the overall European market. At the same time, several people are practicing vegan diets worldwide. This is encouraging numerous companies to incorporate plant-based milk in a wide range of confectionery and bakery items. In February 2021, the Scottish Government announced that it would soon include plant-based milk alternatives on a government-funded early learning milk scheme and nursery. Additionally, the surging prevalence of lactose intolerance has compelled people to opt for coconut milk.

However, coconut farming depends mainly on climatic conditions. As the amount of greenhouse gas emissions is increasing, the global climatic conditions are also changing at a fast pace. Therefore, the frequent harsh weather conditions may hamper the coconut milk market growth in the near future.


Regional Insights:

Increasing Production of Coconuts in Sri Lanka to Help Asia Pacific Dominate

In 2020, Asia Pacific earned USD 398.08 million in terms of revenue owing to the rising trade activities of coconut-based products between major Asian countries and others. Sri Lanka, Indonesia, and Thailand are considered to be the major producers of coconut in this region. As per Sri Lanka Export Development Board, the country’s total coconut production accounts for around 12% and in 2017, approximately 2,500 -3000 million coconuts were produced. Europe, on the other hand, is estimated to show high growth stoked by the increasing adoption of this milk in numerous bakery products, such as cookies, pies, and cakes.


Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/coconut-milk-market-105439   


Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview on the Parent/Related Market
      •  Analysis on Global Plant-Milk Sector
      •  Overview on Raw Material (Coconut) Price Trend Analysis
      •  Factors Impacting Consumers’ Buying Behaviour
    • Supply Chain & Regulatory Analysis
    • Recent Industry Developments – Policies, Mergers & Acquisitions, and
    • New Product Launches
    • Market Analysis and Insights (in Relation with COVID-19)
      •  Impact of COVID-19 on the Market
      •  Supply Chain Challenges due to the Pandemic
      •  Potential Opportunities to Support the Market during the Global Crisis
  • Global Coconut Milk Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Nature (Value)
        • Organic
        • Conventional
      • By Form (Value)
        • Powder
        • Liquid
      • By Distribution Channel (Value)
        • Supermarkets/Hypermarkets
        • Convenience Stores
        • Grocery Stores
        • Online Retails
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • Rest of the World

TOC Continued…!


Speak to Our Expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/coconut-milk-market-105439  


Have a Look at Related Research Insights:

Coconut Derivatives Market Size, Share & COVID-19 Impact Analysis, By Type (Young and Mature), By Derivatives (Coconut Oil, Coconut Water, Coconut Milk, Desiccated Coconut, and Others), End-User (Food & Beverages, Cosmetics, Pharmaceuticals, and Others), Regional Forecast, 2020 – 2027

Soy Milk Market Size, Share & Industry Analysis, By Type (Unflavoured, Flavoured), By Application (Beverages, Desserts, Cheese and Snacks, Others) and Regional Forecast, 2021-2028


About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.


Phone:

US:+1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

Twitter: https://twitter.com/FBInsightPvtLtd

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.