The coconut milk powder market has witnessed significant growth in recent years due to the rising popularity of plant-based dairy alternatives among health-conscious consumers. Coconut milk powder is made by grinding the meat of mature coconuts and removing the moisture by spray drying. It is a powdered form of coconut milk which is soluble in hot water and reconstitutes into liquid coconut milk. Coconut milk powder offers a rich flavor and consistency similar to fresh coconut milk while being easier to store and transport. It is lactose-free, cholesterol-free, and provides various health benefits like improving heart health, weight management, and antioxidants. Coconut milk powder is used as a substitute for dairy milk in recipes like coffee creamers, soup bases, baked goods, smoothies, and desserts.

The Global coconut milk powder market is estimated to be valued at US$ 44.29 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the coconut milk powder market include Kibion AB (Mayoly Spindler), Avanos Medical, Inc.,Quest Diagnostics, Beijing Richen-Force Science & Technology Co., Ltd., Paladin Labs Inc., Beijing Binal Health Bio- Sci & Tech Co., Ltd., AB ANALITICA s.r.l., Otsuka Holdings Co., Ltd., Sercon Group, Campro Scientific GmbH, Shenzhen Zhonghe Headway Bio-Sci & Tech Co., Ltd., Avisa Diagnostics, INFAI GmbH, Meridian Bioscience, Inc., Metabolic Solutions, Inc., Laboratory Corporation of America Holdings, , Gulf Coast Scientific, Inc., FAN GmbH, and Kizlon Medical.

The demand for coconut milk powder is increasing significantly owing to the rising adoption of vegan and plant-based diets. Consumers are shifting towards dairy alternatives due to factors like lactose intolerance, food allergies, and preference for natural and organic products.

Technological advancements in spray drying and manufacturing processes have improved the quality and solubility of coconut milk powder. New product introductions like organic, low-fat, and sugar-free variants are expanding the application scope of coconut milk powder.

Market Trends

High nutritional value - Coconut milk powder is highly nutritious and provides various health benefits like supporting digestive health, heart health, weight management etc. due to the presence of fiber, vitamins, minerals and plant compounds.

Product innovation - Companies are innovating coconut milk powder by introducing new flavors, formulations and packaging types to suit the preferences of different consumer demographics. Instant coconut milk powders for convenience are gaining traction.

Rising exports from Asian countries - Countries like Thailand, Indonesia, Philippines are major producers and exporters of coconut milk powder. Increasing global demand is driving the exports from Asian markets to regions like North America and Europe.

Market Opportunities

Emerging application in plant-based products - Coconut Milk Powder Market Growth can be utilized in various plant-based substitutes for meat, dairy and eggs. This will support its demand in vegan food industry.

Convenience foods and beverages - Usage of coconut milk powder in ready-to-drink beverages, baking mixes, sauces and confectioneries present growth opportunities. Rapidly growing food processing industry supports this trend.

The COVID-19 pandemic has significantly impacted the growth of the coconut milk powder market. The disruptions in the supply chain network due to lockdown restrictions affected coconut milk powder manufacturing and distribution. With shutdowns across countries, demand and sales of coconut milk powder declined sharply in 2020.

However, with rising health awareness among people, there has been a renewed focus on consuming fresh, healthy, and nutritious foods during the pandemic. Coconut milk powder is gaining popularity for its numerous health benefits like boosting immunity. It is being used extensively in home cooking and baking activities as people spend more time at home. Moreover, the ease of use and longer shelf-life of coconut milk powder makes it a preferred choice for stockpiling.

As restrictions ease globally, the coconut milk powder market is recovering slowly. Manufacturers are investing in boosting production capacities and streamlining supply chains. The demand is projected to rise steadily as HoReCa sector and food service industry resume operations fully. Companies are innovating new product lines fortified with protein and calcium to target health-conscious consumers. The focus is on expanding the market in Asia Pacific and Americas through effective marketing campaigns highlighting the various uses and health attributes of coconut milk powder.

The Asia Pacific region dominates the coconut milk powder market in terms of value. Countries like Thailand, Indonesia, India, Philippines are among the top producers as well as consumers of coconut and coconut-based products. The availability of raw materials and price competitiveness are the key factors driving market growth. Southeast Asian countries have a well-established market for coconut milk powder owing to its traditional usage in various cuisines.

The European market is the fastest growing region for coconut milk powder. There is increasing popularity of plant-based, vegan, and paleo diets in countries like UK, Germany, France. Customers are opting for sustainable and natural ingredients like coconut milk powder. It is widely used in non-dairy beverages, desserts, sauces catering to the needs of health-conscious population. Manufacturers are launching innovative flavors to appeal to varied customer palates in the region.
 

Explore more information on this topic, Please visit-
https://www.newsstatix.com/coconut-milk-powder-market-share-size-and-growth-share-trends-analysis-demand-forecast/