Coconut Milk Market Size To Expand at a Notable CAGR Of 18.1% During 2020-2030

March, 2022- Market Research Future has published a Report on Global Coconut Milk Market.

Coconut Milk Market Highlights

The coconut milk market is set to grow at a CAGR of 18.10% during the forecast period 2022 to 2032. As per the market research report, the market will hit USD 3.128578947 billion by 2032 in terms of valuation by the end of 2032. The market growth will be driven by the rising awareness about the health benefits. Based on the research report, the surge in lactose intolerance will accelerate growth in the market till 2032. Although fluctuating coconut prices will have a negative impact on the global coconut milk market’s growth during this period. The availability of alternative solutions is predicted to be a key challenge which could become a strong threat from 2020 to 2032 to companies. The market report published by expert analysts includes primary and secondary data and suggests that category, form, packaging type, and distribution channels segments are anticipated to witness tremendous growth till 2027. Factors such as the growing application areas will become key growth drivers during the forecast period and the surging usage across different industries is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by shrinking research and development budgets which could negatively affect activities taking place across the market. The unstable price of coconuts is another challenge the market could face till 2027.

Market Segmentation

The coconut milk market is segregated into different market segments based on category, form, packaging type, and distribution channels. For a comprehensive analysis of the market, the category, form, packaging type, and distribution channels segments are further split into smaller segments. The category segment is categorized into conventional and organic. Furthermore, based on distribution channels, the global market is also segmented into powder and liquid. Based on the market segmentation analysis, the report covers market forecasts. On the basis of form, the global market is split into sub segments including bottles, cans, pouches, and others. The packaging type segment is categorized into store-based and non-store-based. 

 Favorable government policies will support the market growth from 2020 to 2027. As per the market research report, the global market for coconut milk is anticipated to grow at a healthy rate across all the category, form, packaging type, and distribution channels segments. However, the presence of active threats such as concerns regarding side effects could hamper the market growth. Business activities across coconut milk have also been examined and studied by coconut milk industry’s experienced analysts. The coconut milk market research report covers findings with predictions and forecasts till 2032.

Regional Overview

The coconut milk market, with its product and service related segments, is spread across the world. coconut milk based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The increasing preference of consumers is anticipated to be a major factor for growth across the coconut milk space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The coconut milk sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. coconut milk based businesses in these regional markets are anticipated to grow due to growing investments across different sectors during the forecast period 2020 to 2027. Although the market’s growth could be affected by the fluctuating prices of raw materials. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

Coconut milk based organizations are profiled in the market research report. The coconut milk market along with companies and segments has been studied. The analysis of coconut milk based business is also done to identify key challenges and strengths of these companies. The global coconut milk market research report covers SWOT analysis, Porter’s Five Force analysis of major coconut milk related organizations. The strategy and other key details of these companies for the forecast period 2020 to 2032 are covered in the report. A rise in the disposable income is anticipated to support the market growth as the market is set to grow at a CAGR of 18.1% and reach a value of USD 2560.8 million by 2032.

Industry News

Danone, the food manufacturer, revealed today that it intends to buy out all of Earth Island, the company behind the Vegenaise brand Follow Your Heart. Danone will be able to achieve its target of $6 billion in worldwide plant-based revenues by 2027 as a result of the deal, while Earth Island will be able to significantly expand its footprint. Though the financial terms of this transaction were not disclosed, Danone paid $12.5 billion for WhiteWave Foods, the majority owner of vegan brands Silk, Vega, and Alpro.