Coconut Milk Powder Market Overview:

The global market value of Coconut Milk Powder was valued at USD 65.39 million in 2021 and is expected to experience a 9.8% CAGR, between 2023-2032.

These powdered coconut milk powders are being adopted as an economical alternative to regular coconut cream. They also have a higher shelf-life than regular coconut milk.

A can or tetra pack of liquefied Coconut Milk after being opened will last less than 10 days, while the powder versions can last up to 30 days. This is because the dehydrated product is dried by evaporating the milk to dryness. This helps preserve it and gives it longer shelf life.

For those who can’t buy coconut milk powder regularly, or for those who prefer to purchase bulk groceries, coconut milk powder is a viable product.

Global Coconut Milk Powder Market Analysis

Product Analysis

The most popular product type is conventional milk powder, which was the first to be introduced onto the market. These products are also less expensive than organic alternatives.

In the next few years, organic coconut milk powder should see the greatest growth. This increase in demand is mainly due to increased awareness of the many benefits of eating organic foods. Organic coconut flour is free from chemical fungicides as well as herbicides and insecticides. The growing demand for organic products that are grown and manufactured in an environmentally-friendly manner is expected to help support this segment.

Application Analysis

In 2021, B2B applications were responsible for a significant revenue share. The commercial production of smoothies is made from coconut milk powder. In the near future, the B2B market will expand due to the growing demand for vegan desserts in fast-service restaurants (QSRs), dine-out hotels, and quick-service restaurants (DQSRs).

B2C is predicted to experience the fastest growth in forecast years, with a CAGR between 2023-2032 of 10.1%. Coconut milk powder, which can be used for the preparation of Indian and Hawaiian cuisines, is expected to continue to be one of the most important ingredients.

Distribution Channel Analysis

In 2021, the offline distribution channel held a high market share. This channel of distribution covers specialty stores and department stores as well mom & pop shops, hypermarkets, convenience stores, superstores, and supermarkets. This is what drove the segment’s growth.

Online sales are expected to grow at a 10.5% CAGR between 2023 to 2032. Online shopping is becoming more popular due to our hectic lifestyles and increased dependence on eCommerce channels. Additionally, online channels are convenient and offer many offers such as cashback and discounts.

Key Market Segments

By Product

• Conventional
• Organic

By Application

• B2C
• B2B

By Distribution Channel

• Online
• Offline

Market Dynamics

The increasing awareness of coconut milk‘s benefits over its dairy counterparts is driving increased adoption. The rising health consciousness is driving product demand. Coconut milk powder can be used as a substitute for dairy products because it contains short and medium-chain triglycerides.

It is also rich in Vitamins C and E which can reduce the risk of developing cancerous tumors or aging disorders.

Dairy products are prohibited for ethical vegans as well as those who follow a dietary diet. There are many dietary issues that must be considered when consuming dairy products. Poor treatment of dairy cows has also led to veganism becoming more popular. Vegan groups are working towards eliminating the commodity status for animals and are more inclined to adopt other plant-based milk alternatives, such as coconut milk.

Coconut milk powder can also be used in various dishes like shakes or cakes, smoothies, as well as sauces, and gravies. The product is an integral part of many cuisines such as the Burmese and Caribbean, Thais, Indians, Sri Lankans, Maldivian, and Vietnamese.

Regional Analysis

The Asia Pacific held a 34% share of the total market. It is expected to continue growing at a steady rate of CAGR between 2023-2032. Coconut is a key ingredient driving product demand.

Europe is predicted to experience the fastest CAGR during the forecast years. The rise in demand for veganism is due to the widespread adoption of this dietary style in most countries, including Spain and Germany.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

This market is dominated by small-scale producers, who mainly focus on domestic markets. The market is in a niche stage of development. It is expected to the inclusion cost-effective technologies by manufacturers, and to experience seismic changes, with new product development.

Маrkеt Кеу Рlауеrѕ:

• Nestlé Inc.
• Bramble Berry Inc.
• BareOrganics
• Anthony’s Goods
• Absolute Healthworks
• KOS
• Grace Foods Canada Inc.
• Enerhealth
• Other Key Players

For the Coconut Milk Powder Market research study, the following years have been considered to estimate the market size: