Study on Coconut Milk Market by Infinium Global Research is comprehensive presentation of qualitative and quantitative research to identify key trends, growth prospects, drivers, restraints and opportunities in the Global market. The report also deep dives into the sub-segments of Coconut Milk Market by distribution channel (department stores, online retailers, super/ hyper stores and grocery), by grade (thick and thin), by application (Cosmetics & Personal Care, Food Services, Food & Beverage Manufacturing, Household, Bakery, Confectionery, Frozen desserts) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW. Browse through over 100 tables and figures to get complete view of the global and regional markets of Coconut Milk over the period of 2017 to 2023. This report also provides the existing competitive scenario of some of the key players of the Global Coconut Milk Market which includes company profiling of The Sambu Group, The Whitewave foods, Thai Agri Foods, GraceKennedy Group, McCormick& co, Pacific Foods of Oregon, M&S Food Industries, Goya Foods, Celebes Coconut Corporation, and Fresh Fruit Ingredients Inc. According to the report the Global Coconut Milk Market is projected to grow at a CAGR 13.5% in terms of value over the period of 2017-2023.
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High nutritional content of coconut milk is harvesting the interests of consumers in the developed countries
Coconut milk is a liquid that comes from the grated meat of matured coconut. Coconut milk has the fat content of 24% depending upon the fat level and the quantity of added water. Coconut milk is rich in vitamin and minerals that helps in reducing the bad cholesterol in the body .Lauric acid present in coconut milk is absorbed by the body to produce energy instantly. The vegan population is the major factor driving the growth of the market. Additionally, adoption of natural food products and consumer preference for vegan diet has fuelled the growth of the coconut milk market over the forecast period. However, limited sources of tender coconut used for the preparation of the product is the factor restraining the growth of the coconut milk market. On the other hand, Asian cuisine has gained immense popularity among the food lovers across the globe. Besides the healthy content, consumers are growing towards new tastes, which is why Asian cuisines enriched in coconut milk are gaining popularity over the upcoming years. The application of coconut milk in bakery and confectionaries are expected to increase at a higher rate among the distribution channel for the sale of coconut milk in hypermarket and supermarket’s and so on. Among the major players recently, Vita coco has launched the product with added minerals and calcium. Moreover, Starbucks have launched coconut milk based drinks to expand their existing product portfolios. These factors are further anticipated to boost the market over the forecast period.
Asia Pacific will grab largest market share of the global coconut milk market during the forecast period
Among the regions, Asia Pacific is one of the fastest growing regions owing to the increase in vegan population. Moreover, Middle East Asia and Africa are the emerging markets owing to the increased adoption of coconut milk products. Additionally, increasing demand for dairy products in the Asia Pacific region will propel regional market growth. On the other hand, one of the major factor driving the demand is the lactose intolerant population in this region .Hence, according to the research carried shows that nearly 86% of the population in Brazil and 61% of the population in Argentina are lactose-intolerant.