The coconut milk market is projected to grow at a CAGR of 10.31% to reach US$837.006 million by 2024, from US$464.472 million in 2018. Coconut milk comes from the grated pulp of a mature coconut. The shift in consumer dietary pattern and the growing vegan population is expected to drive the growth of the market during the forecast period. In addition, rising consumer health consciousness and increasing environmental and ethical concerns the demand for coconut milk is expected to increase in the coming years. Furthermore, increasing innovation in the development of new products by the manufacturers around the globe may also propel the market growth opportunities during the forecast period. North America region holds the significant market share due to an increasing population suffering from obesity and lactose intolerance while Asia Pacific region is expected to be one of the fastest growing regions owing to increasing consumer preference towards a vegan diet. However, limited availability of tender coconut for the preparation of the product may hinder the growth of the market in the coming years.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottoms-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the coconut milk value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the coconut milk market.
Major industry players profiled as part of the report are WhiteWave Foods, Goya Foods, Pureharvest, McCormick Nutribiotic, Pacific Foods and Edward & Sons among others.
The coconut milk market has been analyzed through following segments:
Full Fat Coconut Milk
Lite Coconut Milk
By Distribution channel
Middle East and Africa