Packaged Coconut Milk Market to grow by USD 942.7 million from 2022 to 2027, Robust demand for plant-based milk drives the market - Technavio

NEW YORK, Sept. 13, 2023 /PRNewswire/ — The packaged coconut milk market size is expected to grow by USD 942.7 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 12% during the forecast period. Robust demand for plant-based milk is notably driving the packaged coconut milk market. However, factors such as high prices and limited awareness of coconut milk may impede the market growth. Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format

Robust demand for plant-based milk is the major factor driving the growth of the global packaged coconut milk market. In recent years, demand for plant-based milk such as coconut milk has increased rapidly. People are looking for alternatives to traditional milk because they are becoming more aware of their diet and the environmental impact of animal husbandry. Further, coconut milk is often low in saturated fat and cholesterol, making it an attractive option for those looking to lower their intake of high-fat-containing animal products. Due to all such advantages, demand for coconut milk is increasing, which is anticipated to boost the growth of the packaged coconut milk market during the forecast period.

Key Segment Analysis

The market is segmented by product (Conventional and Organic), distribution channel (Supermarkets and hypermarkets, Convenience stores, Online retail, and Others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth by the conventional segment will be significant during the forecast period. Conventional coconut milk is made with traditional cultivation that uses pesticides to avoid pest attacks. Coconut milk is made by removing the coconut meat and soaking the coconut meat for a period of time to break down the coconut and make coconut cream, which rises on top of the coconut. Also, coconut milk can be sold fresh on the dairy shelf. As conventional coconut milk needs conventional raw materials including conventional coconut, the final product of coconut milk is reasonable, which will be the major driver of the conventional segment during the forecast period.

To know additional highlights and key points on various market segments and their impact in coming years, View the FREE PDF Sample Report.

Geographical Market Analysis

North America accounts for 31% of the global market during the forecast period.

Company Insights

The packaged coconut milk market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Ahya Coco Organic Food Manufacturing Corp., Campbell Soup Co., Celebes Coconut Corp., Cocomi Bio Organic, Coconut Palm Group Ltd., Dabur India Ltd., Danone SA, Edward and Sons Trading Co., Goya Foods Inc., Heng Guan Food Industrial Pte Ltd., McCormick and Co. Inc., Merit Food Products Co. Ltd., Nestle SA, PureHarvest, Thai Agri Foods Public Co. Ltd., Thai Coconut Public Co. Ltd., The Coconut Co. UK Ltd., The Vita Coco Co. Inc., Theppadungporn Coconut Co. Ltd., and Istore Direct Trading Pvt. Ltd.

View FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Trends

Rising veganism is an emerging trend shaping the growth of the global packaged coconut milk market.

Related Reports:

The Coconut Water Market in the US is poised to grow by USD 2.46 billion during 2022-2026, accelerating at a CAGR of 22.27% during the forecast period. This report extensively covers coconut water market segmentations by flavour (flavoured coconut water and plain coconut water) and product (sweetened coconut water and unsweetened coconut water). The increasing awareness among consumers about the various health benefits of coconut water is one of the key factors driving the global coconut water market growth in the US.

The virgin coconut oil market share is expected to increase by USD 816.95 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.14%. This report extensively covers virgin coconut oil market segmentation by application (organic and conventional) and geographic (APAC, Europe, North America, the Middle East and Africa, and South America). The increasing prominence of private-label brands is one of the major drivers impacting the virgin coconut oil market growth.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution Channel

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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