Coconut Milk Powder Market Size Worth $113.0 Million by 2027 | CAGR 10%: Grand View Research, Inc.

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Jun 16, 2020, 05:35 ET

SAN FRANCISCO, June 16, 2020 /PRNewswire/ -- The global coconut milk powder market size is expected to reach USD 113.0 million by 2027 registering a CAGR of 10.1%, according to a new report by Grand View Research, Inc. Rising demand for vegan milk products across the globe, due to increasing concerns related to lactose intolerance, is expected to play a key role in the market growth. Furthermore, increasing demand for food items with higher shelf-life is projected to boost the consumption of coconut milk powder.

The demand for plant-based milk powders is expected to grow due to rapid adoption of veganism owing the numerous health benefits associated with it. Furthermore, people have become more conscious about reducing carbon footprint and thus, are opting for plant-based products.

Key suggestions from the report:

Conventional coconut milk powder accounted for the largest market share of more than 70% in 2019
Organic product segment is expected to register the fastest CAGR during forecast years on account of increasing awareness regarding the benefits of consuming organic foods
B2C application is expected to register the fastest growth during forecast years due to shifting inclination toward authentic cuisines
Online distribution channel is expected to register the fastest CAGR of 11.1% from 2020 to 2027. This growth is attributed to the rising popularity of such channels as they offer various add-on benefits including cash-on delivery, coupon points, and cashback offers

Read 80 page research report with ToC on "Coconut Milk Powder Market Size, Share & Trends Analysis Report By Product (Organic, Conventional), By Application (B2B, B2C), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/coconut-milk-powder-market

In addition, increasing cases of allergy and intolerance pertaining to dairy products and its derivatives are likely to fuel the demand for plant-based milk powders. Further, according to a meta-analysis on "Country, Regional, And Global Estimates for Lactose Malabsorption in Adults" published in 2017 in U.S., 36% of the citizens were suffering from lactose intolerance.

Grand View Research has segmented the global coconut milk powder market on the basis of product, application, distribution channel, and region:

Coconut Milk Powder Product Outlook (Revenue, USD Million, 2016 - 2027

Conventional
Organic

Coconut Milk Powder Application Outlook (Revenue, USD Million, 2016 - 2027)

Coconut Milk Powder Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

Online
Offline

Coconut Milk Powder Regional Outlook (Revenue, USD Million, 2016 - 2027)

North America

U.S.

Europe

Germany
U.K.

Asia Pacific

India
Australia
Indonesia

Central & South America

Brazil

Middle East & Africa (MEA)

List of Key Players of Coconut Milk Powder Market

Nestlé Inc.
Anthony's Goods
BareOrganics
Bramble Berry Inc.
Dr. Ben Kim Natural Health Solutions
Enerhealth
Grace Foods Canada Inc.
HEALTHWORKS
King Arthur Flour Company, Inc.
KOS

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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