The global coconut milk products market is projected to record a CAGR of over 7% during 2018-2028, reaching an anticipated revenue of more than US$ 500 million by the end of forecast period. Future Market Insights (FMI) delivers exclusive insights on the global coconut milk products market in a newly published research study.
Coconut milk products offer an exotic, naturally-rich aroma, and enhance the flavor of food items. On the basis of nature, organic and conventional coconut milk products are available in the market. With growing health awareness and changing consumer preferences, the demand for organic coconut milk products is estimated to increase at a higher rate.
Food Processing & Bakery to Provide Strong Impetus to Coconut Milk Products Market
To cope with busier lifestyle, consumers are preferring processed products in recent decades. A major concern for manufacturers in the food processing industry is to maintain the quality of the product and enhance its nutritional value. The usage of coconut milk products thus is a seemingly suitable alternative, as they have high nutritional value and long shelf life. Promising growth of the food processing sector is thus projected to increase the demand for coconut milk products in the years to come.
Although bakery market has been an established landscape in Europe and North America, there has been a significant change in consumer preferences. Moreover, the demand for bakery products is increasing at a high rate in the Asia Pacific region. Consumers constantly seek product insights, nutritional value, ingredient list, and new flavors. Manufacturers are thus emphasizing development of products that have a rich nutrition profile, in addition to a unique flavor.
For More Detailed Insights on Coconut Milk Products Consumption Analysis
Increasing proclivity of consumers for healthful bakery products is anticipated to escalate the demand for coconut milk products within the bakery industry. Coconut milk products offer a unique flavor and texture that enhance the taste of the finished products, and thus, are used in the preparation of various bakery items such as cookies, cakes, pies, bakery mixes, and wafers.
Packaging, Storage, & Transport Convenience of Coconut Milk Products to Capture Manufacturers’ Attention
Coconut milk products are plant-based and reflect a strong nutrition profile. In addition to enhancing the taste as well as nutritional value, coconut milk products also complement a growing trend of plant-based ingredients. Manufacturers in the bakery industry are thus more likely to use coconut milk products for improved taste and enhanced nutritional value of end products.
As coconut milk products are available in the powder form, they consumer relatively low space in terms of storage and transportation. Longer shelf life, and convenient packaging and transit will remain among the top factors nurturing interest of food processors and coconut milk products manufacturers in terms of investment. The report has covered comprehensive strategic profiles of some of the most prominent companies operating in global coconut milk products market, including S&P International Holding Limited, Sambu Group, Grace Foods Canada Inc., Nestlé S.A., Renuka Foods PLC, J Mitra Sdn. Bhd., Santanku Sdn Bhd, M&S Food Industries, Monty & Totco Co., Ltd., and Primex Coco Products, Inc. among others.
North America’s coconut milk powder market is projected to record a high growth rate between 2018 and 2028. On the other hand, South Asia, with a major share in the coconut milk products market, is anticipated to maintain its dominance in the global coconut milk products market throughout the projection period. On the basis of market attractiveness, North America and Europe have been positioned as relatively more attractive investment pockets for manufacturers in the global coconut milk products market.
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