Coconut Milk Market will see an impressive year-on-year growth from 2018 to 2024
The recent study titled, “Coconut Milk Market - Forecasts from 2019 to 2024” covers an in-depth analysis of the market on the basis of the type, distribution channel, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024. The report has segmented the coconut milk market by type (full fat coconut milk, lite coconut milk, others), distribution channel (online, offline) and geography (North America, South America, Europe, Middle East, and Africa, Asia Pacific). Coconut milk comes from the grated pulp of a mature coconut. Increasing consumer preference towards the adoption of plant-based beverages is considered as one of the prime drivers for the growth of the market. In addition, the growing vegan population coupled with the rising health consciousness is expected to be the prime drivers for the growth of the coconut milk market during the forecast period. Moreover, there is an increasing demand for coconut milk owing to health benefits derived from the consumption of coconut milk. However, the limited availability of tender coconut for the preparation of the product may hinder the growth of the market in the coming years.
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By distribution channel, the offline segment is showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period.
By distribution channel, offline distribution of coconut milk is estimated to account significant market share and is expected to grow rapidly during the forecast period on account of expanding food and beverage industry and growing adoption of packed food and beverages. In addition, robust growth of the organized retail in different parts of the world is considered as one of the major drivers of the growth of the market for this segment.
North America is expected to account for a significant share in the market.
North America coconut milk market is estimated to have a significant share in terms of both value and volume in the global market, and the region is further anticipated to grow during the forecast period on account of increasing population suffering from obesity and lactose intolerance. In addition, growing beverage industry and growing product launches in the region also drive the growth of the market during the forecast period. Moreover, North America accounts for a steady demand for coconut milk due to the increasing awareness of health benefits from its consumption.
Some of the major industry players profiled as part of the report are White Wave Foods (DANONE), Goya Foods, Pure harvest, McCormick Nutribiotic, Pacific Foods, Edward & Sons and Ducoco, among others.
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