Coconut Milk Market to Surpass $2.9 Billion by 2027, Fueled by Growing Health Consciousness and Expanding Distribution.

Coconut-Milk-Market

Allied Market Research predicts substantial growth in the Coconut Milk Market, projecting a value of $2.9 billion by 2027, with a CAGR of 17.1%.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATE, February 20, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Coconut Milk Market by Packaging Type, Category, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global coconut milk market size 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.

𝐓𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/11519

The coconut milk market is anticipated to experience substantial growth, with an expected incremental revenue opportunity of $1.8 billion from 2019 to 2027. This growth is primarily driven by the increasing health consciousness among consumers and improvements in distribution networks. Consumers' willingness to pay more for products offering health benefits is identified as a key driver for the development of the coconut milk products market.

Untapped markets in various regions of Africa, including Zimbabwe, Liberia, Eritrea, and Burundi, present lucrative opportunities for coconut milk manufacturers. These regions are still in the nascent stages of coconut milk consumption, indicating potential growth avenues.

Coconut milk and its products are still in nascent stages in various regions of Africa, such as Zimbabwe, Liberia, Eritrea, and Burundi, along with other developing regions. These are still untapped, which present lucrative coconut milk market opportunities for manufacturers of coconut milk.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/A11154

The future market for coconut milk is expected to be propelled by the rising use of coconut-based products in the food and beverage industry. Coconut milk is a widely used ingredient in various cosmetic and processed food products, such as cookies, cakes, milkshakes, and ice cream. The demand for coconut milk is expected to grow significantly with the increase in the consumption of processed food products, driven by the rising urban population.

The coconut milk market analysis reveals segmentation based on packaging type, category, end-user, distribution channel, and region. Packaging types include plastic bottles, tetra packs, and cans. Tetra packs are a dominant packaging type globally, with an expected growth rate of 16.5% from 2021 to 2027, reaching $1,778.8 million by 2027.

The conventional category holds a major market share, driven by the widespread availability of conventional coconut products globally. In the Asia-Pacific region, the conventional category has gained a large consumer base, contributing to the growth of the coconut milk industry.

Increase in use of coconut-based products in food & beverage applications is expected to drive the market for coconut milk in the future. Coconut milk is widely used as ingredient in a variety of cosmetic products and processed food products such as cookies, cakes, milkshakes, and ice cream. With growth in consumption of processed food products, owing to rise in urban population, the demand for coconut milk is expected to grow at a significant rate in future.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭 : https://www.alliedmarketresearch.com/connect-to-analyst/A11154

In terms of end-users, the food services segment holds a significant market share, attributed to the increased purchasing power of consumers and a rise in spending on luxury foods and beverages. The retail distribution channel, particularly hypermarkets/supermarkets, emerged as the leading channel in 2019, experiencing significant growth during the forecast period due to increased retail sales business and ample shelf space availability.

Asia-Pacific dominated the coconut milk market in 2019, securing the maximum share due to a substantial consumer base and population growth. Small and medium enterprises (SMEs) in the region are focusing on online sales channels, investing in marketing activities, and witnessing increased penetration of organic coconut milk among consumers, contributing to market growth.
According to the coconut milk market analysis, the market is segmented on the basis of packaging type, category, end user, distribution channel, and region. Based on packaging type, the coconut milk market is categorized into plastic bottles, tetra packs, and cans.

Tetra packs are widely used globally and is one of the prime packaging types for coconut milk; thus, is expected to influence the overall coconut milk industry. The tetra pack segment was valued at $699.5 million and is expected to grow with a CAGR of 16.5% from 2021 to 2027, to reach $1,778.8 million by 2027.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 : https://www.alliedmarketresearch.com/checkout-final/4dc5e59c972bb65fe7705804e5344777

{ 𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 }

The organic coconut milk market size was valued at $435.7 million in 2019, and is anticipated to reach $1227.2 million by 2027, with a CAGR of 18% during the forecast period.

In 2019, by packaging type, the tetra packs segment held the highest share, accounting for 62.6%.

On the basis of end user, the food services segment led the market, garnering 54.07% of the global coconut milk market share in 2019.

Depending on distribution channel, the direct distribution segment is estimated to exhibit the highest CAGR of 18%.

In 2019, Asia-Pacific was the most prominent market, and is expected to grow at a significant CAGR throughout the forecast period.

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McCormick & Company Inc.
Goya Foods Inc.
Celebes Coconut Corp.
Vita Coco
Thai Agri Foods Public Co. Ltd
Danone SA
Pureharvest
Thai Coconut Public Company
Dabur India Ltd.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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