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Coconut Milk Market

The research report on Coconut Milk Market is segmented By Form, By Application, By Source, By Region – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2025
Coconut Milk Market – Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2025
Coconut milk is a liquid obtained by manual or mechanical extraction of coconut meat, with
or without water. The composition of coconut milk depends on water used during extraction.
Water also affects the fat content and moisture of coconut milk. Coconut milk is slightly
acidic in nature with a pH of 6. Coconut milk contains two types of protein, albumins and
globulins in the range of 6 to 8%. Spray drying method is used by manufacturers to dry
coconut milk into powdered form as it increases its shelf life and also becomes easy for
transportation. On an average, one coconut yields 60 to 100 grams of coconut powder
depending on its size.
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Market Dynamics
Diverse applications of coconut milk and high availability of coconut are the key factors
driving growth of the global coconut milk market. Coconut milk is a rich source of protein
such as prolamin, glutein, albumin, and globulin. Coconut milk is associated with various
health benefits such as weight loss, boosts immune system, improves digestion, prevents
acne, promotes hair growth, and treats sunburn as well as reduces the risk of diabetes and
Alzheimer’s disease. Coconut milk is added to various dishes and cuisines and has diverse
usage in food and beverage industry such as ice cream, yogurt, sauces, and beverages.
High availability of coconut will create growth opportunities for manufacturers and will fuel
growth of global coconut milk market. According to statistics of Food and Agricultural
Organization (FAO), global production of coconut was 58.4 million tons in 2016 and grew at
the rate of 1.0% from 2011.
However, consumers should take measures before consuming coconut milk as it contains
high calories, abundant saturated fat, and often causes allergies. Moreover, popular
substitutes to coconut milk such as spiced milk, soy milk, and yoghurt might be a hindrance
in growth of the market. Consumption of coconut milk may increase blood fat levels, which
can increase the risk of heart disease. Presence of saturated fat will increase cholesterol level,
which results in weight gain and constipation. Other factors such high cost of coconut milk as
compared to dairy milk and increasing health risks associated with consumption of coconut
milk are expected to hamper growth of the market.
Market Outlook
Among form, liquid coconut milk segment accounted for the highest market share in the
coconut milk market in 2017. This is due to its wide applications in food and beverages
industry, it is preferred to be used in a liquid form. Household consumers prefer liquid
coconut milk due to its wide culinary usage such as to prepare curries, sauces and desserts.
Among applications, food & beverages segment was dominant in the market in 2017. There
are various applications of coconut milk such as ice creams, paddings, smoothies, cream, and
as a substitute for dairy milk. This segment is projected to hold the dominant position in the
market over the forecast period.
Asia Pacific held the largest market share in the global coconut milk market in 2017, and is
projected to be the dominant region over the forecast period, owing to abundant production of
coconut and widespread uses of coconut milk in various cuisines is popular in Asian
countries. For instance, according to Food and Agricultural Organization (FAO), Asia
accounted for 82.6% of the global coconut production in 2016.
Key players in Global Coconut Milk Market
Key players operating in the global coconut milk market include Goya Foods, Pureharvest,
McCormick, WhiteWave Foods, and Theppadungporn Coconut Co. Ltd. Some other coconut
milk manufacturers are Edward & Sons, Chi, Ducoco, Zurtle Mountain, Thai Agri Foods, iTi
Tropicals, and Pacific Foods.
Key market players are launching new types of coconut milk-based products in order to meet
rising demand from consumers. For instance, in February 2018, Nestle launched a new
beverage based on coconut milk, Nespray Coco-Up.
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