The global Coconut Milk Powder Market is estimated to be valued at US$ 38.44 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Coconut milk powder is a powder form of coconut milk derived from fresh coconut kernel. It has a rich, smooth, and creamy texture when reconstituted with water. Coconut milk powder maintains similar properties and flavors of fresh coconut milk and has advantages such as longer shelf life and ease of transportation. It is widely used in Southeast Asian cuisines and desserts. Growing popularity of plant-based dairy alternatives is driving demand for coconut milk powder from food and beverage makers launching new coconut milk-based products.
Market key trends:
Rising adoption of vegan and lactose-free diets is a major trend fueling growth of the coconut milk powder market. According to data by Plant Based Foods Association, plant-based food sales grew 27% between 2018 and 2020 in the US alone. Consumers are switching to plant-based dairy alternatives like coconut milk to reduce their carbon footprint as well as for ethical reasons. Coconut milk powder, being shelf-stable and versatile, is increasingly used by food manufactures to cater to the demand. Another key trend is introduction of innovative coconut milk powder-based products. For example, new flavored coconut yogurt and ice-cream launches by major brands has increased uptake of coconut milk powder. Furthermore, availability of organic and non-GMO coconut milk powders is appealing more consumers looking for clean label products. Popularity of Asian cuisines globally has also augmented the demand for coconut milk powder in Southeast-Asian cuisine staples and dessert recipes using coconut milk.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the market size is expected to grow over the forecast period requiring substantial investment and resources to enter the market. However, established brands enjoy economies of scale and customer loyalty making barriers to entry higher.
Bargaining power of buyers: The bargaining power of buyers is high as the market comprises numerous small and private label buyers. Buyers can negotiate lower prices from suppliers and easily switch between product brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the key raw material, coconut, is region specific and subject to climatic conditions. Suppliers are fewer in number making them influential.
Threat of new substitutes: The threat of new substitutes is low as coconut milk powder has no cost effective substitutes for producing dairy and non-dairy beverages, desserts, soups and other food applications.
Competitive rivalry: High due to the presence of numerous small and large players competing on pricing and quality.
Key Takeaways
The Global Coconut Milk Powder Market Demand is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing demand for plant-based dairy alternatives.
Regional analysis
The Asia Pacific region dominates the global coconut milk powder market and is expected to maintain its lead over the forecast period. Countries such as the Philippines, Indonesia, and India are the major producers and consumers of coconut and its products.
Key players
Key players operating in the coconut milk powder market are The Coconut Company (UK) Ltd., Tirumala Food Industries, Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd.
All things considered, a canned or tetra pack of liquefied coconut milk in the wake of being opened has a time frame of ease of use of fewer than 10 days instead of the powder varieties which can continue to go for over 30 days.
These shriveled things are dealt with by evaporating milk to dryness, which helps in defending it and gives a high time frame of convenience.
Also, coconut milk powder is seen as a doable thing for the people who can't acknowledge consolidated coconut milk regularly or lean toward buying food supplies in mass.The appropriation of the item is driven by the expanding mindfulness about its advantages over dairy partners.
Rising wellbeing awareness is additionally driving the item interest as coconut milk offers a decent substitute to dairy subordinates as they are comprised of short and medium-chain fatty oils.
Vegetarian populace bunches are pursuing eliminating the ware status of creatures and are progressively receiving other plant-based options including coconut milk.
Coconut milk powder market is utilized in the arrangement of different dishes, like smoothies, shakes, frozen yogurts, cakes, doughnuts, sauces, and flavors.
Advance Market Analytics released a new market study on Global Coconut Milk Powder Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis.
The research study provides estimates for Global Coconut Milk Powder Forecast till 2026*.Coconut milk powder is a fine, white powder which is widely used in Southeast Asian and other cuisines.
Numerous commercially available coconut milk powders contain milk or casein as their main ingredients.
The important driver is a growing lactose intolerant population that creates demand for coconut milk powder.
It has a wide range of applications & is great for soups, curries, sauces, seafood & vegetable dishes as well as cakes, desserts, biscuits, and beverages.
Can list of players be customize based on regional geographies or targeted areas Considering heat map analysis and based on market buzz or voice the profiled list of companies in the report are "Sambu Group (Singapore), Cocomi Bio Organic (Shri Lanka), Renuka Foods PLC (Shri Lanka), Nestlé S.A. (Switzerland), Fresh Fruit Ingredients Inc. (Philippines), HolistaTranzworld Limited (India), Baghban Foods (India), AYAM SARL.
The latest trending report Global Coconut Milk Powder Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Coconut Milk Powder market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Coconut Milk Powder industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Coconut Milk Powder and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/40767-coconut-milk-powder-industry-analysis-reportThe major players covered in Coconut Milk Powder are:CocomiThai-ChoiceFiestaCaribbeanQbbMaggiCocosRenukaAyamBy Type, Coconut Milk Powder market has been segmented into:PureMixedBy Application, Coconut Milk Powder has been segmented into:BeveragesSavory & SnacksBakery & ConfectioneryDairy & Frozen ProductsOthersThe report offers in-depth assessment of the growth and other aspects of the Coconut Milk Powder market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
)Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Coconut Milk Powder Market @ https://www.decisiondatabases.com/contact/download-sample-40767The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Coconut Milk Powder product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Coconut Milk Powder, with price, sales, revenue and global market share of Coconut Milk Powder in 2018 and 2019.Chapter 3, the Coconut Milk Powder competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Coconut Milk Powder breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Coconut Milk Powder market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Coconut Milk Powder sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Coconut Milk Powder Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-40767Other Reports by DecisionDatabases.com:Global Coconut Water Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Coconut Syrup Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Coconut Fibre Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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