According to the latest report by IMARC Group, titled “Coconut Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global coconut milk powder market exhibited strong growth during 2015-2020. Coconut milk powder is produced by spray-drying the water content from raw, unsweetened coconut cream. It is rich in magnesium, iron, calcium, zinc, phosphorus, medium-chain triglycerides (MCTs), and vitamins A, D, E, and K. The consumption of coconut milk powder aids in reducing inflammation, fighting bacteria, lowering blood pressure levels, building muscle, enhancing respiratory functions, and treating stomach ulcers. As compared to fresh coconut milk, the powder is lighter in weight and has a longer shelf life, which helps in maintaining the natural flavor, texture, and aroma of the product. On account of these benefits, coconut milk powder is extensively utilized as a base in various confectionery items and beverages, such as tea, coffee, sauces, yogurt, milkshakes, and chocolates.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Coconut Milk Powder Market Trends:
The global coconut milk powder market is majorly being driven by rapid expansion in the food and beverage (F&B) industry, wherein it is used as a foaming, thickening, and emulsifying agent. In line with this, the increasing health consciousness and rising awareness regarding the health benefits of coconut milk powder are further catalyzing the market growth. Additionally, the emerging trend of veganism and the growing lactose-intolerant population have prompted manufacturers to introduce non-genetically modified organisms (non-GMOs)- and gluten-free product variants, which are positively influencing the market growth. Furthermore, improvements in store-based distribution channels and the easy product availability through proliferating online retail channels are some other factors fueling the market growth. Looking forward, the market is expected to grow at a CAGR of around 10% during 2021-2026.
- Based on the product type, the market has been bifurcated into conventional and organic.
- On the basis of the type, the market has been divided into sweetened and unsweetened.
- Based on the packaging type, the market has been segmented into pouches, cartons, bottles, and others.
- On the basis of the application, the market has been classified into beverages, savories, bakery and confectionaries, dairy and frozen products, and others.
- Based on the distribution channel, the market has been segregated into B2B and B2C (supermarkets and hypermarkets, convenience stores, online retailers, and others).
- Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Anthony's Goods (ACH Food Companies Inc.), BareOrganics, Bramble Berry Inc., Dr. Ben Kim Natural Health Solutions, Enerhealth Botanicals LLC, Grace Foods Canada Inc., Healthworks, King Arthur Flour Company Inc., KOS Naturals and Nestle S.A.
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