Coconut Milk and Coconut Milk Derivatives Market Forecast,Latest Technology and Market Trends– 2027

 

Market Analysis

Coconut Milk and Coconut Milk Derivatives market is predicted to grow at an 14.80% CAGR over the forecast period (2018-2028), in accordance to the new Market Research Future (MRFR) report. Coconut derivatives comprise of all products that possess commercial relevance such as coconut milk, coconut water, and coconut oil. Coconut sugar, desiccated coconut, and coconut flour are some lesser-known derivatives that are also widely used in various application sectors.

Coconut oil is extremely beneficial for hair and skin, coconut milk is used as a substitute for dairy milk among the vegan population, while coconut water is widely consumed as an energy drink. On the other hand, desiccated coconut is used for food decoration and adding flavor to curries while coconut vinegar is used as a healthy alternative to synthetic vinegar as a flavoring agent or preservative in sauces and pickles.

Various factors are propelling Coconut Milk and Coconut Milk Derivatives market forecast growth. These factors in accordance to the MRFR report, include growing demand in pharmaceutical and cosmetic industries, increasing consumer awareness concerning the adverse impact of carbonated drinks, increasing demand as a healthy substitute to processed juices and carbonated drinks due to its blending and nutritional capabilities, various government initiatives to encourage coconut water consumption, and availability of sports drinks made with coconut water, and numerous health benefits of consuming coconut water. Coconut water is rich in potassium, sodium, and other minerals, including magnesium and calcium that restores the electrolyte balance in the body; thus, are consumed widely as a post-workout drink. This again, is boosting the market growth.  On the contrary, a decrease in coconut production may hamper Coconut Milk and Coconut Milk Derivatives market growth over the forecast period.

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Key Players

Key players in the global coconut milk & coconut milk derivatives market report include McCormick & Company, Inc. (US), Goya Foods, Inc. (US), Dabur India Ltd. (India), Ducoco (Brazil), Vita Coco (US), Celebes Coconut Corporation (The Philippines), Thai Agri Foods Public Co., Ltd. (Thailand), The Hain Celestial Group (US), Heng Guan Food Industrial Pte Ltd. (Singapore), and ThaiCoconut (Thailand).

Market Segmentation

The coconut milk & coconut milk derivatives market is segmented on the basis of category, type, packaging type, and distribution channel.

By packaging type, cans held 35.61% share of the coconut milk and coconut milk derivatives market in 2017. Cans are preferred due to its airtight nature and a reliable storage option at high temperatures. Bottles was the second-largest segment in the same year. This segment is expected to witness a declining growth rate owing to the ban on plastic bottles.

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Regional Analysis

Based on region, the coconut milk & coconut milk derivatives market is segmented into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

The market in Europe is predicted to have a lucrative growth over the forecast period. This is owing to increasing inclination towards veganism on account of the growing awareness of the various health benefits of taking coconut derivatives, animal welfare activism, and the growing influence of social media. Moreover, expanding obese population, growing trend for a healthy lifestyle, and increasing sales of packaged coconut water are also boosting the market growth.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

 

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