Coconut Milk Market worth USD 4.5 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Coconut Milk Market by Packaging Type (Plastic Bottles, Tetra Packs, and Cans), by Category (Organic and Conventional), by End-Users (Household, Food Services, Catering Services, and Others), by Distribution Channel (Direct Distribution and Retail Distribution), by Region – Global Share and Forecast to 2030".

The global coconut milk market size is estimated to reach USD 4.5 billion by 2030 from USD 1.1 billion. The market is growing at a CAGR of 17.1% during the study period (2022-2030). Coconut milk is the oil-protein-water mixture produced from freshly grated coconut kernels. Coconut milk/cream is used in cocktails, beverages, and alcoholic drinks. Coconut cream has moisturizing and nourishing properties making it useful for skin care.

Futhrer, the demand for coconut products such as coconut milk and water has soared in the food & beverages industry. A rise in the working population has led to high demand for conventional food, packaged food, and ready-to-eat food due to their busy & hectic schedule. These food are designed for ease of consumption, such as shelf-stable products, refrigerated or frozen products, and dry mixes, which require minimal preparation. Coconut milk is used as an ingredient in various processed food products such as cookies, cakes, pies, soups, milkshakes, and ice cream.

Global Coconut Milk Market Segmentation

The coconut milk market has been segmented into the packaging type, category, end-users, distribution channel, and region.

By Packaging Type Outlook (Revenue, USD Billion, 2017-2030)

• Plastic Bottles
• Tetra Packs
• Cans

By Category Outlook (Revenue, USD Billion, 2017-2030)

• Organic
• Conventional

By End-Users Outlook (Revenue, USD Billion, 2017-2030)

• Household
• Food Services
• Catering Services
• Others

By Distribution Channel Outlook (Revenue, USD Billion, 2017-2030)

• Direct Distribution
• Retail Distribution
  • Hypermarket/Supermarket
  • Convenience Stores
  • Retail Pharmacies
  • E-commerce
  • Others

By Region Outlook (Revenue, USD Billion, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • the Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Conventional, by category, is estimated to hold the largest market share during the forecast period

Depending on the category, the coconut milk market is categorized into conventional and organic. In 2021, the conventional segment accounted for the largest market share and is anticipated to grow at the highest CAGR during the forecast period. Conventional coconut milk contributes the largest share in the category segment because of various reasons such as a huge number of varieties, economical as it is produced from easily available raw material. Still, it can affect health as well as it is less nutritious than organic coconut milk.

It has been seen that conventional coconut milk is the leading product segment over the years because it is the first product introduced in the market. The presence of only one category in previous year before awareness of organic coconut milk has increased its dominance in the coconut milk market globally. Various varieties in this segment is also one of the major reasons to become trend in this market.

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Asia Pacific accounts for the largest market share in the coconut milk market in 2021

Region wise, the market is analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia-Pacific was the highest revenue contributor, accounting for the market share of 46.5%. Asia-Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market is experiencing growth rapidly due to improved living standards and a rise in disposable income among consumers.

This region is one of the fast-growing regions for the market in consideration with its increasing vegan population. Different uses of coconut in preparing various recipes in one of the trends as well as driving the product demand in this region. Asian cuisine has gained huge popularity among food lovers across the globe as well as they have been developing a taste for cuisines. Asian cuisine includes coconut or coconut milk, which provides huge opportunities among key players in this region.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the coconut milk market. It also consists of the profiles of leading companies such as McCormick & Company Inc., Thai Agri Foods Public Co. Ltd, Dabur India Ltd., Thai Coconut Public Company, Celebes Coconut Corp., Vita Coco, Danone SA, Celebes Coconut Corp., Goya Foods Inc., and Pureharvest. These market players have focused on acquisitions and expansion to gain a larger market share in the coconut milk market.

Browse complete report: https://www.marketstatsville.com/coconut-milk-market

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