Coconut Milk Market Outlook: Size, Share, Trends & Growth Analysis (2024-2029) 

The market report presents a thorough analysis segmented by Nature (Organic, Conventional); by Form (Powder, Liquid); by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Grocery Stores, Online Retail); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The coconut milk market is estimated to be at USD 1,726.40 Mn in 2024 and is anticipated to reach USD 3,692.90 Mn in 2029. 

• The coconut milk market is registering a CAGR of 16.42% during the forecast period of 2024-2029. 

• The global coconut milk market is poised for significant growth, driven by the rising demand for plant-based alternatives, increasing consumer health consciousness, and the expansion of e-commerce platforms. 

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Ecosystem 

• The global coconut milk industry participants are constantly developing strategies to preserve a competitive advantage. 

• These companies are focusing on innovation, sustainable sourcing, and expanding product offerings to meet the evolving needs of consumers. 

• Several important entities in the coconut milk market include Danone S.A.; Nestle S.A.; Dabur India Ltd.; Thai Coconut Public Co., Ltd.; The Coconut Co., Ltd.; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 1,726.40 Mn
Market Size (2029)	USD 3,692.90 Mn
Growth Rate	16.42% CAGR from 2024 to 2029
Key Segments	Nature (Organic, Conventional); Form (Powder, Liquid); Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Grocery Stores, Online Retail); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Danone S.A.; Nestle S.A.; Dabur India Ltd.; Thai Coconut Public Co., Ltd.; The Coconut Co., Ltd.
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends  

• Coconut Milk-Infused Beverages: The beverage industry is notably integrating coconut milk into a variety of products, from smoothies and coffee creamers to non-dairy yogurt drinks. This shift highlights a rising preference for coconut milk’s unique flavor and creamy consistency, enhancing product offerings and catering to diverse dietary needs. 

• Organic and Non-GMO Coconut Milk: As consumers increasingly prioritize health and wellness, there is a noticeable shift towards organic and non-GMO coconut milk products. This trend underscores a preference for cleaner, more natural ingredients in everyday beverages. The focus on organic and non-GMO options reflects a broader commitment to healthier, more sustainable choices in the food and beverage industry. 

• Increased Focus on Sustainable Sourcing: Sustainability is becoming a critical factor in the coconut milk market, with companies focusing on ethically sourced coconuts and sustainable farming practices. In 2022, Danone announced its commitment to sourcing coconuts from sustainable farms for its popular coconut milk brand, Alpro, to reduce environmental impact and support local communities. 

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Catalysts 

• Growing Health Consciousness and Lactose Intolerance: The increasing awareness of the health benefits of coconut milk, such as its richness in vitamins, minerals, and healthy fats, is driving market growth. Additionally, the rise in lactose intolerance among consumers is pushing the demand for non-dairy alternatives. 

• Expanding Vegan and Vegetarian Population: The global shift towards veganism and vegetarianism is a significant driver for the coconut milk market. As more consumers adopt plant-based diets, the demand for coconut milk as an alternative to dairy products continues to rise. 

• Rising Demand in the Food and Beverage Industry: The food and beverage industry’s demand for coconut milk is growing, driven by its application in products such as dairy-free ice creams, sauces, and baked goods. In 2023, several food manufacturers, including Nestlé and Unilever, expanded their plant-based product lines to include coconut milk, catering to the demand for versatile, non-dairy ingredients. 

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Restraints 

• Fluctuating Raw Material Prices: The price volatility of coconuts, driven by weather conditions and supply chain disruptions, poses a challenge to the coconut milk market. In 2022, extreme weather in Indonesia significantly increased raw coconut prices, impacting manufacturers’ production costs. 

• Consumer Misconceptions about Coconut Milk: Despite its health benefits, coconut milk faces challenges due to consumer misconceptions, particularly regarding its fat content. Some consumers avoid coconut milk, fearing it is high in saturated fats, despite the health benefits of medium-chain triglycerides (MCTs) found in coconut milk. 

• Logistics and Storage Challenges: Transporting and storing coconut milk, particularly in its fresh or refrigerated form, presents challenges. Coconut milk’s relatively short shelf life compared to plant-based milk requires efficient cold-chain management. In 2022, supply chain disruptions caused by the COVID-19 pandemic highlighted the vulnerabilities in distributing perishable goods of coconut milk. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Coconut Milk Market (2018 – 2022)         2.2.    Global Coconut Milk Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Coconut Milk Market by Nature                3.1.1.    Organic                3.1.2.    Conventional         3.2.    Global Coconut Milk Market by Form                3.2.1.    Powder                3.2.2.    Liquid         3.3.    Global Coconut Milk Market by Distribution Channel                3.3.1.    Supermarkets/Hypermarkets                3.3.2.    Convenience Stores                3.3.3.    Grocery Stores                3.3.4.    Online Retail  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Coconut Milk Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Danone S.A.         9.2.    Nestle S.A.         9.3.    Dabur India Ltd.         9.4.    Thai Coconut Public Co., Ltd.         9.5.    The Coconut Co., Ltd.         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Coconut Milk Market – FAQs 

1.  What is the current size of the coconut milk market? 

Ans. In 2024, the coconut milk market size is USD 1,726.40 Mn. 

2.  Who are the major vendors in the coconut milk market?  

Ans. The major vendors in the coconut milk market are Danone S.A.; Nestle S.A.; Dabur India Ltd.; Thai Coconut Public Co., Ltd.; The Coconut Co., Ltd. 

3.  Which segments are covered under the coconut milk market segments analysis?  

Ans. The coconut milk market report offers in-depth insights into Nature, Form, Distribution Channel, and Geography.