Dublin, August 28, 2024 (GLOBE NEWSWIRE) — The report “Global Coconut Milk and Cream Market by Category (Conventional, Organic), Form (Liquid, Powder), Distribution Channel, End Use – Forecast 2024-2030” has been added to The Offer.
The Coconut Milk and Cream market grew from USD 21.64 billion in 2023 to USD 22.76 billion by 2024. It is expected to continue growing at a compound annual growth rate of 5.41% to reach USD 31.31 billion by 2030.
Coconut milk and cream are extracted from the grated flesh of mature coconuts and are widely used in the food, beverage, cosmetics, health and personal care industries. Consumer awareness about the health benefits of coconut-based products has fueled the demand for alternatives to traditional dairy products. The rise in veganism and plant-based diets has significantly increased the demand for plant-based substitutes such as coconut milk and cream.
However, volatility in raw material costs and allergic reactions associated with the consumption and use of coconut products may negatively impact the benefits of the product to the end consumer. In addition, ongoing research, innovation and development of reduced-fat or reduced-calorie versions of coconut products for health-conscious consumers are expected to promote the acceptance of coconut milk and cream.
Regional insights
Growing consumer preference for plant-based alternatives to dairy and the numerous health benefits of coconut consumption are leading to coconut milk and creamer becoming increasingly popular in America. Consumer interest in veganism has also contributed to a growing preference for plant-based dairy alternatives, including coconut milk, in America.
The Asia Pacific region has the largest coconut production in the world and is a major exporter of coconut products such as coconut milk and cream. The presence of coconut producers drives regional demand through traditional culinary uses and increased export opportunities to other regions.
In the EMEA region, demand for coconut milk and cream is driven by cultural and health factors. Consumer awareness of lactose intolerance has sparked interest in plant-based alternatives to traditional dairy products. In addition, the increasing use of coconut milk and cream in the cosmetics sector is expected to boost the use of coconut milk and cream in the coming years.
Recent developments
Axelum Resources Corp. launches its latest Fiesta coconut milk powder
Axelum Resources Corp. is expanding its consumer brands segment with the launch of Fiesta Coconut Milk Powder, which is made from freshly pressed coconut milk and is an ingredient in a wide range of recipes. It serves as a milk substitute and is conveniently available at leading supermarket chains and popular online stores such as Shopee and Lazada.
Vita Coco expands its range of dairy-free coconut milk and launches Barista MLK exclusively at Alfred Coffee
Vita Coco Company, Inc. is expanding its non-dairy product offerings with the exclusive launch of Vita Coco Barista MLK in partnership with Alfred Coffee. This milk alternative made with coconut water and cream was developed and recommended by baristas. As part of this collaboration, all Alfred Coffee locations now offer Vita Coco Barista MLK as an option to enhance customers’ beverage orders.
Danone North America launches plant-based cream substitutes made from almonds and coconuts
Danone North America recently expanded its plant-based creamer offering with two new options under its alternative milk brands Silk and So Delicious. Silk, known as one of the leading non-dairy creamer brands in North America, has now introduced the Mocha Almond Creamer. With this new offering, Danone North America aims to provide plant-based consumers with exceptional options that enhance their enjoyment throughout the day and ensure a satisfying and delicious plant-based coffee experience.
Main features:
Report Attribute | Details |
Number of pages | 187 |
Forecast period | 2024 – 2030 |
Estimated market value (USD) in 2024 | 22.76 billion US dollars |
Projected market value (USD) until 2030 | 31.31 billion US dollars |
Average annual growth rate | 5.4% |
Regions covered | Generally |
Market insights
Market drivers
- Increasing consumer preference for nutritious and healthy foods
- Increasing use in bakery and confectionery
- Significant increase in the number of vegan and lactose intolerant people
Market restrictions
- Availability of cost-effective alternatives
Market opportunities
- Introduction of innovative products coconut milk and cream
- Increasing use of coconut milk and cream in the cosmetics sector
Market challenges
- Allergic reactions associated with the consumption of coconut milk
Market segmentation analysis
- Category: Increasing popularity of cold-pressed organic coconut milk and cream products worldwide
- Distribution channel: Availability of a wide range of coconut milk and cream products through online channels
Industry insights
- Market disruption analysis
- Porter’s Five Forces Analysis
- Value chain and critical path analysis
- Price analysis
- Technology analysis
- Patent analysis
- Trading Analysis
- Analysis of the regulatory framework
Important company profiles
- Adamjee Lukmanjee & Sons (Pvt.) Ltd.
- Aldi Stores Limited
- Asian Agricultural Industry Co., Ltd.
- Axelum Resources Corp.
- Califia Farms, LLC
- Celebes Coconut Corporation
- Ceres Enterprises Limited
- Cha’s Organics
- Danone SA
- Ecomil by Nutriops, SL
- Edward & Sons Trading Co.
- Goya Foods, Inc.
- Greenville Agro Corporation
- Kapar Coconut Industries Sdn Bhd
- M & S Food Industries Sdn Bhd
- McCormick & Company Inc.
- The charm of nature
- Nestlé SA
- Only Earth by Naturise Consumer Products Pvt Ltd
- Campbell Soup Company’s Pacific Foods Of Oregon, LLC
- Primex Group
- PT Sari Segar Husada
- Renuka Foods PLC
- Roxas Sigma Agriventures Inc
- Sambu group
- Bhd.
- Bhd.
- Thai Agri Foods LLC
Market segmentation and coverage
category
Form
Sales channel
- Convenience stores
- Online retail stores
- Supermarkets and hypermarkets
End use
- Cosmetics and body care
- Food and beverage processing
- Catering service
- Functional foods and dietary supplements
- Household
region
America
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- new York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East and Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/a456dc
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Global coconut milk and cream market