The Global Coconut Milk Powder Market size is expected to reach $90.4 Million by 2026, rising at a market growth of 12.5% CAGR during the forecast period. Coconut milk powder is a fine white powder specially used in the countries of Southeast Asia. Coconut milk powder is produced by spray-drying raw non-sweetened coconut cream and is reconstituted with water for use in recipes that call for coconut milk. Currently sprayed coconut milk powder is available in convenient and ready-to-use packs with the same freshness of fresh coconut milk. It's robust and easy to use.
Global Coconut Milk Powder Market Size
The growing population of lactose intolerance, which increases the demand for coconut milk powder as it is used as a substitute for lactose-containing milk powder, is a key factor expected to boost the growth of the global market over the forecast period. Furthermore, rising demand for coconut milk powder in the manufacturing of beverages is another factor anticipated to further fuel growth in the market over the forecast period. In addition, the increasing development of new products by different manufacturers to meet the needs of consumers is another factor projected to boost the growth of the market during the forecast period.
Nevertheless, fluctuating prices of coconuts and related products are a key factor to hinder global demand growth during the forecast period. A continuous trend in the target market is to expand the usage of coconut milk powder in various foods and beverages applications as an alternative to traditional milk powder. Manufacturers' production of organic vegan coconut milk powder and vegan coconut milk powder is projected to provide potential income opportunities for key players in the market.
Coconut Milk Powder Market Share
Consumers are driving the shift to the consumption of plant-based food products. They consider multiple factors, such as plant source, animal welfare problems, etc., while purchasing a specific product. As a result, companies are trying to create vegan products according to consumer needs. Food and beverage producers can often use coconut milk products to produce vegan goods in order to boost their final products and nutritional value. The inclination of consumers for vegan products is also projected to have a positive impact on the growth of the market for coconut milk products.
Free Valuable Insights: Global Coconut Milk Powder Market to reach a market size of $90.4 million by 2026
Based on Product, the market is segmented into Conventional and Organic. Based on Application, the market is segmented into B2B (Business to Business) and B2C (Business to Consumer). Based on Distribution Channel, the market is segmented into Offline and Online. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A., Associated British Foods PLC (Wittington Investments Limited), Danone S.A., McCormick & Company, Inc., GraceKennedy Limited, Bramble Berry, Inc., BareOrganics, King Arthur Flour Company, Inc., Healthworks (Dignity Health), and Cocomi Bio Organic.
Market Segmentation:
By Product
By Application
By Distribution Channel
By Geography
Companies Profiled
The coconut milk powder market is projected to reach USD 90.4 million by 2026.
The major factors that are anticipated to drive the coconut milk powder industry include natural coconut milk powder consumption, Growing demand for plant-based milk products, and Healthful benefits of product.
The Conventional product type is expected to record a dominant share over the forecast period.
Nestle S.A., Associated British Foods PLC (Wittington Investments Limited), Danone S.A., McCormick & Company, Inc., GraceKennedy Limited, Bramble Berry, Inc., BareOrganics, King Arthur Flour Company, Inc., Healthworks (Dignity Health), and Cocomi Bio Organic.
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