Coconut milk is milky white in color, which is extracted from the flesh of mature coconuts. It has high oil content, most of which are saturated fats that help in reducing cholesterol, improve blood pressure and prevent heart attacks.
The global coconut milk market was valued at $1.1 billion in 2019, and is anticipated to reach $2.9 billion by 2027, with a CAGR of 17.1% during the forecast period.
Change in consumer tastes and increase in health concerns are the major factors that drive the market globally. Food & beverages manufacturers have invested a lot in R&D to utilize coconut milk enhance characteristics, taste, or nutritional value of their products. Coconut milk products offer a number of health advantages.
The global fast-moving consumer goods (FMCG) market has been witnessing abrupt changes in consumer choices. The demand for a diverse variety and new arrivals of products has been increasing regular basis. Be it food and beverage, personal care, home care, or healthcare, the demand of varied products from the consumers are creating significant growth opportunities for the market players.
Trends like development of new supermarkets and hypermarkets are forecast to create favorable opportunities. Moreover, rising disposable income and growing demand for advanced one-stop solutions would further expand the industrial growth in the coming years.
The value of FMCG sector is forecast to reach US$ 18.5 billion by the end of the year 2028, and is anticipated to grow at a CAGR of 4.9% in the forecast period. Of all the regions, North America is dominating the entire FMCG sector and is forecast to hold the largest market share during the study period. North America FMCG sector is growing significantly owing to change in lifestyles, growing number of supermarkets, and rising urban population. Moreover, the Asia-Pacific is forecast to record the CAGR of 7.8%, because of changing lifestyles, increasing urbanization, and rising employment rate. Apart from that, increasing focus of companies and organizations towards R&D and new product launches would further boost the popularity of FMCG domain and escalate the regional growth of the market.
Coconut milk products are used to prepare different products that can assist to avoid anemia and enhance anemic patients’ health as well.
The coconut milk is dairy free alternative, which is an excellent source of fiber, calcium, zinc, iron, and magnesium. It also provides benefits such as bone strengthening, cardiovascular health benefits, weight loss, immune strength, and offers allergen free properties. The demand for coconut milk is growing in developed countries such as the U.S., Germany, the UK, and France, owing to rise in awareness of its health benefits.
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Manufacturers are focusing on key innovations that cater to the requirements of large consumer base. Coconut milk is now being considered as healthy replacements for carbonated drinks, owing to which the demand for these products is expected to grow rapidly. Furthermore, increase has been witnessed in the number of netizens along with rise in internet penetration. Considering this, most of the key players in the market strategize on promoting their products on various social media platforms. Thus, through social media marketing strategy, the coconut milk market sights remunerative growth opportunity during the forecast period.
The significant decrease in the global coconut milk market size in 2020 is estimated on the basis of the COVID-19 outbreak and its positive impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation. Further, these scenarios were discussed with the food & beverages industry experts.
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The global coconut milk market is segmented into packaging type, category, end user, distribution channel, and region. By packaging type, it is categorized into plastic bottles, tetra packs, and cans. Based on category, it is segmented into organic and conventional. The end users studied in the report are household, food services, catering services, and others. On the basis of distribution channel, it is segregated into direct distribution and retail distribution. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Sri Lanka, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, Nigeria, Turkey, South Africa, and rest of LAMEA).
The key players profiled in this report include 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.
Key benefits for stakeholders
– The study provides an in-depth analysis of the coconut milk market with current and future trends to identify the imminent investment pockets in the market.
– Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
– The report provides information regarding drivers, restraints, and opportunities with impact analysis.
– Quantitative analysis of the current market and estimation for the same from 2019 to 2027 is provided to showcase the financial competency of the market.
– Porter’s five forces model of the industry demonstrates the competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of buyers, and bargaining power of suppliers operating in the market.
– Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
– Competitive intelligence highlights the business practices, followed by the leading market players across various regions.
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Key market segments
– By Packaging Type
o Plastic Bottles
o Tetra Packs
– By Category
– By End User
o Food Services
o Catering Services
– By Distribution Channel
o Direct Distribution
o Retail Distribution
? Convenience Stores
? Retail Pharmacies
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– By Region
o North America
? Rest of Europe
? South Korea
? Rest of Asia-Pacific
? South Africa
? Rest of LAMEA
What is the aim of the report?
The market report presents the estimated market size, by the end of the forecast period. Additionally, the historical and current market size is also examined in the report.
Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.
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What aspects regarding the regional analysis Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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