Global Coconut Milk Market By Product Type (Organic & Conventional), By Packaging Type (Cans, Tetra Packs, Bottles, Pouches), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

The increasing number of Hotels/Restaurants/Cafes (HoReCa), in both developed as well as emerging economies, is one of the element that is expected to play a role in augmenting this target market’s projected expansion prospects

Market.US announces publication of its most recently generated research report titled, “Global Coconut Milk Market by Product Type (Organic & Conventional) and by Packaging Type (Cans, Tetra Packs, Bottles, and Pouches) – Global Forecast to 2031”, which offers a holistic view of Global Coconut Milk Market through systematic segmentation that covers every aspect of the target market.

Global Coconut Milk Market is projected to be US$ 1,374.6 Mn in 2021 to reach US$ 5,132.0 Mn by 2031 at a CAGR of 14.4%.

A coconut is a tropical fruit that is a member of the Arecaceae family, and are some of the most consumed fruits in the world. It comprises of an external husk, the kernel (fleshy meat), and coconut water. These fruits are grown worldwide; with Indonesia, Philippines, India, and Sri Lanka being major coconut-producing countries. Indonesia is the largest producer of coconuts, producing over 31.2% of the global supply, followed by the Philippines at 25.5%, and India at 17%. There are different varieties of coconuts, each with their own peculiar taste and other characteristics.

Coconuts are processed for their kernels, oil, water, milk, etc. In recent years, the use of coconut milk has steadily gained popularity across the world. Coconut milk is obtained by harvesting the inner fleshy part of the coconut. This milk is delicious, as well as aromatic, and is a great source of calcium, protein, potassium, and other essential nutrients. Coconuts are harvested and then transported to fruit processing plants.

At these facilities, high-quality coconuts are selected and deshelled to obtain coconut kernels. The deshelled coconut kernels are then washed and blanched in hot water for a specific amount of time, at about 80° Celsius. The blanched kernels are then shredded into fine gratings in a disintegrator and then fed into a screw press to extract the milk. Traditionally, coconut flesh was generally grated and soaked in hot water.

Coconut cream rises to the top and can be skimmed easily, the remaining liquid is then sieved through a clean cloth to extract the white liquid that is coconut milk. This straining process is repeated to obtain the final product. The obtained milk is filled in various types of storage containers and then pasteurized in order to maintain sterility.

Global Coconut Milk Market Revenue (US$ Mn), 2021–2031

The increasing number of Hotels/Restaurants/Cafes (HoReCa), in both developed as well as emerging economies, is another element that is expected to play a role in augmenting this target market’s projected expansion prospects. For instance, Starbucks has reported using coconut milk to make several of their beverages and other confectionary products. Additionally, consumer preferences are gradually leading them to make the transition to plant-based diets and beverages. Moreover, this transition is also inclined towards low-fat, low-cholesterol, and low-calorie food substitutes owing to greater awareness levels concerning their many benefits among consumers.

The shelf life of coconut milk is generally between 7-10 days in comparison to flavoring agents that mimic the various characteristics of this product, and these agents are often used as an alternative to coconut milk, which is also a major factor that may hamper the demand for coconut milk, thereby potentially restraining revenue growth prospects to a significant extent.

Moreover, coconut milk that also contains ingredients such as sugars as well as certain types of preservatives, may lower the nutritional value of the final product, thereby potentially impacting its adoption levels in the process. This is another factor that may hinder the revenue growth trajectory of the global coconut milk industry as a whole.

Global Coconut Milk Market Attractiveness Analysis by Product Type, 2015–2031

The segmentation of the global coconut milk market is as follows – product type, packaging type and by region. On the basis of product type, the market is further categorized into organic & conventional. These sub-segments are further classified into supermarkets/hypermarkets, retail stores, and online platforms. The conventional type market sub-segment is anticipated to account for the majority revenue share, followed by those channels listed under the organic type by distribution channel sub-segment.

In terms of packaging type, this market is further segmented into cans, tetra packs, bottles, and pouches. The tetra packing type sub-segment is expected to generate the majority revenue share, followed by those of the cans packaging type sub-segment. The global coconut milk market is segmented region-wise into North America, Europe, the Asia-Pacific, South America, and the MEA respectively. Among these aforementioned regions, markets in the North America region are expected to register the majority revenue share, followed by those in Asia-Pacific and Europe.

The research report on global coconut milk market includes profiles of some of the major companies such as Sofina SA, Dabur India Ltd., SunOpta, Inc., Thai Agri Foods Public Company Limited, Axelum Resources Corp., Thai Coconut Public Company Limited, PureHarvest, All Market Inc., Celebes Coconut Corp., Nutriops SL., Cocomi Bio Organic. and other key players.

Global Coconut Milk Market Segmentation Based on Product Type, Packaging Type and Region

Based on Product Type

• Organic
  • Supermarkets/Hypermarkets
  • Convenience Store
  • Retail Stores
  • Online Platforms
• Conventional
  • Supermarkets/Hypermarkets
  • Convenience Store
  • Retail Stores
  • Online Platforms

Based on Packaging Type-

• Cans
• Tetra packs
• Bottles
• Pouches

Based on Key Players

• Sofina SA
• Dabur India Ltd.
• SunOpta Inc.
• Thai Agri Foods Public Company Limited
• Axelum Resources Corp.
• Thai Coconut Public Company Limited
• PureHarvest
• All Market Inc.
• Celebes Coconut Corp.
• Nutriops SL.
• Cocomi Bio Organic
• other key players

Based on Region-

• North America
• Europe
• Asia-Pacific
• South America
• MEA

For the Coconut Milk Market research study, the following years have been considered to estimate the market size: