NEW YORK, March 13, 2023 (GLOBE NEWSWIRE) -- Insight Partners has released the latest research study on "Coconut milk products marketSize, Share, Trends, Industry Analysis and Global Forecast to 2028: Impact of COVID-19 and Global Analysis by Product Type (Coconut Cream, Coconut Milk Powder, Coconut Milk and Others), Category (Organic and Conventional) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online retail and others)”, the size of the global coconut milk products market will register a CAGR of 5.2% between 2022 and 2028; it is expected to grow from $0.985 billion in 2021 to $1.40 billion in 2028.
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Global Coconut Milk Products Market - Scope of the Report:
|Market Size Value in||$985 billion in 2021|
|Market size value per||$1.40 billion by 2028|
|growth rate||5.2% CAGR from 2022 to 2028|
|number of pages||185|
|number of tables||109|
|Number of graphics and illustrations||86|
|Historical data available||And|
|segments covered||Product type, category and sales channel|
Global Coconut Milk Products Market: Competitive Landscape and Key Developments
Some of the major players in the coconut milk products market are Danone S.A.; Goya Foods, Inc.; Grace Kennedy Limited; McCormick & Company, Inc.; Nestlé SA; Oregon Pacific Foods, LLC; Sambu Group; Thai Farm Food PLC; Thai Coconut Public Company Limited; and Celebes Coconut Corporation. These players focus on developing innovative products to meet changing consumer demands.
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The contribution of coconut milk and coconut milk products to overall heart health is driving the growth of the global coconut milk products market:
Coconut milk is a common ingredient in various food recipes in Latin America, the Caribbean, West Africa, and Southeast Asia. Coconut milk is considered an effective ingredient that helps lower cholesterol and blood pressure. According to a research study, drinking non-dairy coconut milk regularly helps prevent heart disease. The saturated fats in coconut milk, which come from plants, have been shown to have an assertive effect in maintaining cholesterol levels and helping protect people from diseases like stroke, heart disease and high blood pressure. The Coconut Research Center in Colorado, USA, is conducting preclinical research on animals to explore the potential of coconut oil to prevent cancer. Such studies on the health benefits of coconut milk and other coconut products are expected to boost the coconut milk products market for years to come.
Coconut milk has several health benefits, making it suitable for use in various food and beverage products. In recent years, consumer focus has shifted to plant-based foods for their health benefits. Additionally, diets suggested by the health and wellness communities for overall well-being involve whole ingredients and minimal food processing. Therefore, manufacturers in the food industry are more focused on inventing new products with added nutritional value. This is one of the main factors driving the growth of the coconut milk products market as coconut milk is used to replace traditional milks such as cow milk and buffalo milk in food preparation.
Global Coconut Milk Products Market – Regional Overview:
The Asia Pacific coconut milk products market is expected to register the highest CAGR during the forecast period. The growth of the market in this region is attributed to the increase in the vegan population and the increase in lactose intolerance. Many Asian recipes contain coconut milk as one of the key ingredients. The Asia-Pacific region also has a well-established distribution system that helps cosmetic manufacturers meet demand for products made from coconut oil or milk. These factors are expected to drive the size of the coconut milk products market in the region.
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Coconut Milk Products Market – Segment Overview
Based on the type of product, Coconut Milk Products market is segmented into Coconut Cream, Coconut Milk Powder, and Others. The coconut cream segment had the largest market share in 2021. Coconut cream contains a significant amount of medium-chain fatty acids, commonly known as "good fats," which support brain function. In addition, these fats facilitate the digestion of coconut cream in the human intestine.
Based on categoryThe coconut milk products market is segmented into organic and conventional. The conventional segment had a larger market share in 2021. Conventional coconut milk products contain guar gum and many chemicals and stabilizers are added to extend their shelf life. Traditional coconut products cost less than organic products and are readily available, resulting in high demand for these products.
Based on the sales channel, Coconut Milk Products market is segmented into Super & Hypermarkets, Convenience Stores, Online Retail And Others. The online retail segment is expected to register the highest CAGR during the forecast period. Online retail stores offer various products at deep discounts and provide the convenience of shopping. In addition, home delivery services attract a large group of customers to shop through e-commerce platforms such as Amazon.com, Walmart, and E-Bay. These websites provide descriptive product information and user reviews to help shoppers compare products and make informed decisions.
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