Coconut Milk Market Value was worth USD xx billion in 2017 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2022. Coconut milk is derived from the shreds of mature coconut. Coconut milk has a rich taste and colour due to the presence of high oil content which is saturated fat. It has various health benefits like- helps to improve the immune system and helps reduce critical illness.
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Coconut milk has various health benefits including the improvement of immune system which makes it a major driver of the market. Due to the increase in vegan population the consumption of naturally obtained coconut milk has gone up. Asian cuisine is become increasingly popular across the globe which in turn fuels the market growth as coconut milk is one of the major ingredients of Asian cuisine. There has been a rise in the lactose intolerant population which in turn further drives the market growth.
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The Coconut Milk market Segmentation into form, nature, application and distribution channel. By form the market is divided into liquid and powder. By nature the market is segmented into organic and conventional. Organic coconut milk has gained immense popularity over the past few years. By application the market is classified into household, food and beverage, cosmetics and personal care and others. By distribution channel the market is classified into supermarkets and hypermarkets, specialist retailers and convenience stores. Supermarkets and hypermarkets are likely to dominate the market during the forecast period. On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Coconut Milk market was dominated by North America. Europe is growing at a steady rate while Asia Pacific is expected to grow at the highest CAGR. Middle East and Africa is an emerging market for coconut milk.
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The major Coconut Milk market players in the coconut milk market are WhiteWave Foods, McCormick, Theppadungporn Coconut Co. Ltd. , Goya Foods, Pureharvest, , Edward & Sons, Chi, Ducoco, iTi Tropicals, Thai Agri Foods, Turtle Mountain, and Pacific Foods.
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