Coconut Milk Market is Anticipated to Reach USD 1,391.2 Million By 2030: Reports and Data - EIN Presswire

2022-09-17 01:55:45 By : Ms. Carol Huang

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The Coconut Milk market is fueled by the rising usage of the healthy alternatives of the cow & other animal milk products.

NEW YORK CITY, NEW YORK, USA, September 15, 2022 /EINPresswire.com/ -- Market Synopsis

The global coconut milk market size was USD 746.1 Million in 2021 and is expected to register a revenue CAGR of 7.1% during the forecast period. Rising demand for healthy, nutritious, and environment-friendly foods that contain vitamin C, phytonutrients, minerals, potassium, and vitamins and can be used in food products, beauty and personal care products, and pharmaceutical products is expected to drive market revenue growth. Nutritional properties, health benefits, and rising consumer preference for using coconut milk in households, for preparing foods are increasing demand for coconut milk in the market. On 23 May 2022 for instance, Jooma, which is a China-based company, announced the launch of a new coconut yogurt range. This yogurt firm has launched coconut milk-based yogurt with a modified customer appeal in the market for attracting global customers. Coconut milk in food items such as beverages, desserts, and beauty products such as hair care, skincare, and healthcare products add nutritional benefits and other health benefits that assure healthy life and is expected to increase revenue growth of coconut milk in the market.

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Nutritional components and secondary metabolites such as phlobatannins, tannins, flavonoids, cardiac glycosides, terpenoids, saponins, alkaloids, and steroids in coconut milk make processed food products nutritious. Increasing preference for using coconut milk in food and beverages, rising health awareness for using organic ingredients, growing concern about intake of nutritious drink, and use of coconut milk in the growing cosmetic industry is driving revenue growth of the market. High saturated fat and carbohydrate-based coconut milk reduce bioavailability of isoniazid and absorption rate which further reduces incidence of tuberculosis. Reduced bioavailability up to 80.51% is possible if coconut milk is consumed before and after isoniazid. However, complex process of coconut milk extraction and declining coconut production is restraining revenue growth of the market.

A 100 ml coconut milk has various nutritional components such as 169 gm calories, 1.1 gm protein, 16.9 gm fat, 14.6 gm saturated fat, and 3.3 gm carbohydrate, which is encouraging businesses to introduce coconut milk-based food items. On 12 May 2022 for instance, Covico, which is a U.S.-based global manufacturer and supplier of innovative coconut ingredients for food, beverage, supplement, and cosmetic industries, announced the launch of four coconut-based products at the National Restaurant Association (NRA), in Chicago, which include coconut chips, coconut cheese, coconut BBQ sauce, and coconut salsa. These products are vegan, gluten-free, organic, and made from coconuts grown in India. Increasing demand for plant-based food and taste of coconut milk in snacks is driving demand for coconut milk in the market.

The COVID-19 pandemic has created endless disruptions to the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are skeptical about the market's future and try to redesign their strategies to support the challenge. The pandemic had a serious impact on the distribution chains as a result of regular lockdowns. The manufacturing industries have been disrupted due to reduced available human resources. The companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost.

Further key findings from the report suggest

• The growing cosmetic demand due to its highly competitive nature is encouraging manufacturers to introduce new and innovative cosmetics, which, in turn, is contributing to the accelerated growth of this segment. • An increase in awareness amongst health-conscious people for the use of coconut milk due to its high nutritional attributes is driving the market demand. Therefore, a significant contributor to the consumption of coconut sugar is the mineral composition, which generated significant revenue for the market. • Coconut milk is quite healthier owing to its nutritional attributes, which include Vitamin C, minerals such as potassium, iron, zinc, and phosphorus, and phytonutrients such as flavonoids, antioxidants, polyphenols, and anthocyanidin. • In October 2019, Nutiva launched Organic MCT Creamer, a powdered, plant-based creamer packed with the benefits of medium-chain triglycerides (MCTs). It is crafted with Nutiva Organic MCT Powder, coconut milk powder, and a touch of coconut sugar. • In August 2019, Cambridge Commodities Limited (CCL) acquired Earth Circle intending to expand the Cambridge footprint into the American market, focusing on organic superfoods and coconut-based products to combine and complement the vast ingredients at Cambridge Commodities. • Key participants include Anthony’s Goods, Bramble Berry Inc., Enerhealth, King Arthur Flour Company, Inc., Nestlé Inc., Grace Foods Canada Inc., Thai Agri Foods, M&S Food Industries, Celebes Coconut Corporation, and Fresh Fruit Ingredients Inc., among others.

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For the purpose of this report, Reports and Data have segmented into the global on the basis of nutritional components, form, end-use verticals, and region:

Nutritional components Outlook (Revenue, USD Million; 2019 – 2030)

Form Outlook (Revenue, USD Million; 2019 – 2030)

Packaging Outlook (Revenue, USD Million; 2019 – 2030)

• Plastic bottles • Tetra packs • Cans

End-use Verticals Outlook (Revenue, USD Million; 2019 – 2030)

• Personal Care & Pharmaceuticals • Household & Food Products • Nutraceuticals & Supplements • Infant Formulas • Animal Feed • Others

Regional Outlook (Revenue, USD Million; 2019 – 2030)

• North America o U.S. o Canada o Mexico • Europe o Germany o U.K. o France o Italy o Spain o Sweden o BENELUX o Rest of Europe • Asia-Pacific o China o India o Japan o South Korea o Rest of APAC • Latin America o Brazil o Rest of LATAM • Middle East & Africa o Saudi Arabia o UAE o South Africa o Israel o Rest of MEA

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