Coconut Milk & Cream Market by Category (Conventional, Organic), Form (Liquid, Powder), Distribution Channel, End-Use - Global Forecast 2024-2030

Coconut Milk & Cream Market by Category (Conventional, Organic), Form (Liquid, Powder), Distribution Channel, End-Use - Global Forecast 2024-2030

The Coconut Milk & Cream Market size was estimated at USD 21.64 billion in 2023 and expected to reach USD 22.76 billion in 2024, at a CAGR 5.41% to reach USD 31.31 billion by 2030.

The coconut milk & cream serve as alternatives to traditional dairy milk and cream, catering to the diverse needs of consumers with lactose intolerance, vegan lifestyles, or those simply seeking healthier options. Coconut milk & cream are derived from the grated meat of mature coconuts and find extensive applications in the food, beverage, cosmetics, healthcare, and personal care industries. Consumer awareness about the health benefits of coconut-based products has driven demand for alternatives to conventional dairy products. The rise in veganism and plant-based diets has significantly increased demand for plant-derived substitutes such as coconut milk & cream. However, volatility in raw material cost and allergic reactions associated with the consumption and use of coconut-based products may adversely impact end-users product utility. Moreover, ongoing research, innovation, and development of low-fat or reduced-calorie versions of coconut-based products to cater to health-conscious consumers are expected to encourage the adoption of coconut milk & cream.

Regional Insights

Increasing consumer preference for plant-based alternatives to dairy products and the numerous health benefits associated with coconut consumption are expanding the adoption of coconut milk & cream in the Americas. Consumers' interest in veganism has also contributed to an increased preference for plant-based milk options, including coconut milk in the Americas. The Asia-Pacific region has the largest production volumes of coconuts globally, positioning itself as a significant exporter of coconut-based products such as coconut milk & cream. The presence of coconut producers helps drive regional demand through traditional culinary usage and increased export opportunities to other regions. In the EMEA region, demand for coconut milk & cream is driven by cultural and health factors, and consumer awareness of lactose intolerance has fueled an interest in plant-based alternatives to traditional dairy products. Additionally, increasing application of coconut milk & cream in the cosmetic sector is anticipated to facilitate the use of coconut milk & cream in the upcoming years.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Coconut Milk & Cream Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing consumer preference for nutritional and health-beneficial food products
Rising utilization in bakery and confectionery products
Significant growth in vegan and lactose-intolerant population

Market Restraints

Availability of low-cost alternatives

Market Opportunities

Introduction of innovative products coconut milk & cream
Growing adoption of coconut milk & cream in cosmetic sector

Market Challenges

Allergic reactions associated with consumption of coconut milk

Market Segmentation Analysis

Category: Rising popularity of cold-pressed organic coconut milk and cream products worldwide
Distribution Channel: Availability of a wide range of coconut milk & cream products through online channels

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Coconut Milk & Cream Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Coconut Milk & Cream Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Axelum Resources Corp. Launches its Newest Fiesta Coconut Milk Powder

Axelum Resources Corp. is expanding its consumer-branded segment with the introduction of Fiesta Coconut Milk Powder, made from freshly squeezed coconut milk, providing an ingredient for a wide range of recipes. It serves as a dairy substitute and can be conveniently found at leading supermarket chains and popular online stores such as Shopee and Lazada.

Vita Coco Expands Non-Dairy Coconut Milk Offering Launching Barista MLK Exclusively with Alfred Coffee

Vita Coco Company, Inc. is expanding its non-dairy product range with the exclusive launch of Vita Coco Barista MLK in partnership with Alfred Coffee. This milk alternative, made from coconut water and cream, has been created and endorsed by baristas. As part of this collaboration, all Alfred Coffee locations will now offer Vita Coco Barista MLK as an option to enhance customers' beverage orders.

Danone North America Launches Plant-Based Creamers Made From Almond & Coconut

Danone North America has recently expanded its range of plant-based creamers by introducing two new options under its alternative dairy brands, Silk and So Delicious. Silk, renowned as one of the leading non-dairy creamer brands in North America, has now introduced the Mocha Almond Creamer. With this new offering, Danone North America aims to provide plant-based consumers with exceptional choices that can elevate their enjoyment throughout the day, ensuring a satisfying and delicious plant-based coffee experience.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Coconut Milk & Cream Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Coconut Milk & Cream Market, highlighting leading vendors and their innovative profiles. These include Adamjee Lukmanjee & Sons​ (Pvt.) Ltd., Aldi Stores Limited, Asiatic Agro Industry Co., Ltd., Axelum Resources Corp., Califia Farms, LLC, Celebes Coconut Corporation, Ceres Enterprises Limited, Cha's Organics, Danone SA, Ecomil by Nutriops, S.L, Edward & Sons Trading Co., Goya Foods, Inc., Greenville Agro Corporation, Kapar Coconut Industries Sdn Bhd, M & S Food Industries Sdn Bhd, McCormick & Company Inc., Nature's Charm, Nestlé S.A., Only Earth by Naturise Consumer products Pvt Ltd, Pacific Foods Of Oregon, LLC by Campbell Soup Company, Primex Group of Companies, PT Sari Segar Husada, Renuka Foods PLC, Roxas Sigma Agriventures Inc, Sambu Group, Santanku Sdn Bhd., Stancodex Sdn. Bhd., and Thai Agri Foods LLC.

Market Segmentation & Coverage

This research report categorizes the Coconut Milk & Cream Market to forecast the revenues and analyze trends in each of the following sub-markets:

Category
Conventional
Organic
Form
Liquid
Powder
Distribution Channel
Convenience Stores
Online Retail Stores
Supermarkets & Hypermarkets
End-Use
Cosmetics & Personal Care
Food & Beverage Processing
Food Services
Functional Food & Dietary Supplements
Household
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year