Coconut Milk Market Research Report: Information By Packaging Type (Bottles, Cans, Pouches, & Others), By Category (Conventional & Organic), By Form (Powder, & Liquid), By Distribution Channel (Store-based & Non-store-based) –Forecast 2027
|ID: VPR/F&B/1142||Publishing Year: January 2022||Pages: 103||Format:|
Coconut Milk Market Overview:
Coconut Milk Products' low calorie and high nutrition content have raised their demand in the food and beverage industry. Because of its sweet and mild flavour, coconut milk products such as coconut milk powder and coconut cream powder are utilised in a variety of dishes. The expansion of the food and beverage industry is predicted to increase demand for Coconut Milk Products in the future years.
Coconut Milk Products are frequently linked to a variety of health advantages. They have been shown to decrease blood pressure, cholesterol, improve renal health, and prevent heart attacks and strokes when consumed. In addition, consumer desires for a vegetarian diet have increased the use of Coconut Milk Products.
Several plant-based milk replacements, such as oat milk, almond milk, maize milk, and so on, are predicted to dampen demand for Coconut Milk Products. Oat milk products have become popular among consumers because they include phytochemicals and dietary fibre, as well as providing a number of health benefits. Several considerations, such as price, availability, health advantages, shelf life, and so on, impact their decision. The rising availability of a number of other plant-based milk substitutes may cause a drop in market demand.
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), and Dabur India Ltd (India). These players are introducing new products in the market to increase the customer base and product sale.
The target market is likely to be driven by an increasing number of customers who are altering their diets to vegan diets because they are healthier than non-vegan diets. Other reasons projected to fuel demand for rice syrup include rising wellness and fitness consciousness, which has led to customers opting for products that are healthier and more natural around the world. Increasing demand for Coconut Milk Products as dairy milk substitutes, particularly in a variety of sweet and savoury meals, is another reason projected to propel the target market forward. However, overconsumption of Coconut Milk can lead to heart disease, which is one of the primary factors limiting the target market's growth.
In terms of packaging type, the tetra pack segment dominated the Worldwide Coconut Milk Market in 2019 and is likely to continue to do so during the forecast period. This style of packaging extends the shelf life of the items and reduces the loss of aroma. It maintains coconut goods clean and free of pollutants, retaining freshness and quality for a longer shelf life. As a result, goods manufacturers and suppliers are increasingly using this packaging option. Tetra packs are the most popular packaging on the market. Due to its sustainable nature and on-the-go ease, it continues to be the top choice for market players such as Vita Coco and O.N.E.
In 2019, the conventional segment accounted for the largest proportion of the Global Coconut Milk Market by category. Conventional Coconut Milk is significantly less expensive than Organic Coconut Milk, and it is one of the key growth drivers in this market. All of these reasons present attractive prospects for leading market players to innovate and launch new goods in order to produce profitable income in the coming years.
The Coconut Milk Market, which includes both product and service categories, is global. The market research report also covers regional markets based on Coconut Milk. Asia-Pacific, Europe, North America, the Middle East and Africa, and the rest of the world are the regional markets. Increasing customer desire is expected to be a primary driver of growth in the Coconut Milk Market throughout the forecast period. The United States, Mexico, Canada, and others make up the North American regional market. In Europe, the Coconut Milk Sector is divided into four regional markets: Italy, Germany, France, and the United Kingdom. The Asia Pacific market is divided into China, India, Japan, and other countries. During the projection period of 2018 to 2023, coconut milk-based enterprises in these regional marketplaces are expected to grow due to increased investments across various industries. Although fluctuating raw material prices may have an impact on market growth. Markets in the Middle East, Africa, and the rest of the world have also been segmented by the analysts.
COVID-19 is an unprecedented global public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the forecast period. This ongoing study expands on this research methodology to ensure that underlying COVID-19 concerns and potential solutions are addressed. The research examines COVID-19 in light of changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, market dynamics, and government involvement. The updated study considers the impact of COVID-19 on the market and provides insights, analysis, projections, and forecasts.
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