Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Coconut Milk & Cream Market by Category (Conventional, Organic), Form (Liquid, Powder), Distribution Channel, End-Use - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Coconut Milk & Cream Market grew from USD 21.64 billion in 2023 to USD 22.76 billion in 2024. It is expected to continue growing at a CAGR of 5.41%, reaching USD 31.31 billion by 2030. 
Coconut milk & cream are derived from the grated meat of mature coconuts and find extensive applications in the food, beverage, cosmetics, healthcare, and personal care industries. Consumer awareness about the health benefits of coconut-based products has driven demand for alternatives to conventional dairy products. The rise in veganism and plant-based diets has significantly increased demand for plant-derived substitutes such as coconut milk & cream.
However, volatility in raw material cost and allergic reactions associated with the consumption and use of coconut-based products may adversely impact end-users product utility. Moreover, ongoing research, innovation, and development of low-fat or reduced-calorie versions of coconut-based products to cater to health-conscious consumers are expected to encourage the adoption of coconut milk & cream.
Regional Insights
Increasing consumer preference for plant-based alternatives to dairy products and the numerous health benefits associated with coconut consumption are expanding the adoption of coconut milk & cream in the Americas. Consumers' interest in veganism has also contributed to an increased preference for plant-based milk options, including coconut milk in the Americas.
The Asia-Pacific region has the largest production volumes of coconuts globally, positioning itself as a significant exporter of coconut-based products such as coconut milk & cream. The presence of coconut producers helps drive regional demand through traditional culinary usage and increased export opportunities to other regions.
In the EMEA region, demand for coconut milk & cream is driven by cultural and health factors, and consumer awareness of lactose intolerance has fueled an interest in plant-based alternatives to traditional dairy products. Additionally, increasing application of coconut milk & cream in the cosmetic sector is anticipated to facilitate the use of coconut milk & cream in the upcoming years.
Recent Developments
Axelum Resources Corp. Launches its Newest Fiesta Coconut Milk Powder
Axelum Resources Corp. is expanding its consumer-branded segment with the introduction of Fiesta Coconut Milk Powder, made from freshly squeezed coconut milk, providing an ingredient for a wide range of recipes. It serves as a dairy substitute and can be conveniently found at leading supermarket chains and popular online stores such as Shopee and Lazada.
Vita Coco Expands Non-Dairy Coconut Milk Offering Launching Barista MLK Exclusively with Alfred Coffee
Vita Coco Company, Inc. is expanding its non-dairy product range with the exclusive launch of Vita Coco Barista MLK in partnership with Alfred Coffee. This milk alternative, made from coconut water and cream, has been created and endorsed by baristas. As part of this collaboration, all Alfred Coffee locations will now offer Vita Coco Barista MLK as an option to enhance customers' beverage orders.
Danone North America Launches Plant-Based Creamers Made From Almond & Coconut
Danone North America has recently expanded its range of plant-based creamers by introducing two new options under its alternative dairy brands, Silk and So Delicious. Silk, renowned as one of the leading non-dairy creamer brands in North America, has now introduced the Mocha Almond Creamer. With this new offering, Danone North America aims to provide plant-based consumers with exceptional choices that can elevate their enjoyment throughout the day, ensuring a satisfying and delicious plant-based coffee experience.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $22.76 Billion |
| Forecasted Market Value (USD) by 2030 | $31.31 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Market Insights
Market Drivers
- Increasing consumer preference for nutritional and health-beneficial food products
- Rising utilization in bakery and confectionery products
- Significant growth in vegan and lactose-intolerant population
Market Restraints
- Availability of low-cost alternatives
Market Opportunities
- Introduction of innovative products coconut milk & cream
- Growing adoption of coconut milk & cream in cosmetic sector
Market Challenges
- Allergic reactions associated with consumption of coconut milk
Market Segmentation Analysis
- Category: Rising popularity of cold-pressed organic coconut milk and cream products worldwide
- Distribution Channel: Availability of a wide range of coconut milk & cream products through online channels
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- Adamjee Lukmanjee & Sons (Pvt.) Ltd.
- Aldi Stores Limited
- Asiatic Agro Industry Co., Ltd.
- Axelum Resources Corp.
- Califia Farms, LLC
- Celebes Coconut Corporation
- Ceres Enterprises Limited
- Cha's Organics
- Danone SA
- Ecomil by Nutriops, S.L
- Edward & Sons Trading Co.
- Goya Foods, Inc.
- Greenville Agro Corporation
- Kapar Coconut Industries Sdn Bhd
- M & S Food Industries Sdn Bhd
- McCormick & Company Inc.
- Nature's Charm
- Nestle S.A.
- Only Earth by Naturise Consumer products Pvt Ltd
- Pacific Foods Of Oregon, LLC by Campbell Soup Company
- Primex Group of Companies
- PT Sari Segar Husada
- Renuka Foods PLC
- Roxas Sigma Agriventures Inc
- Sambu Group
- Santanku Sdn Bhd.
- Stancodex Sdn. Bhd.
- Thai Agri Foods LLC
Market Segmentation & Coverage
Category
- Conventional
- Organic
Form
- Liquid
- Powder
Distribution Channel
- Convenience Stores
- Online Retail Stores
- Supermarkets & Hypermarkets
End-Use
- Cosmetics & Personal Care
- Food & Beverage Processing
- Food Services
- Functional Food & Dietary Supplements
- Household
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/a456dc
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