Saturday, May 18, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Food Beverage and tobacco 3 Key Insights on US$ 7 Bn Opportunity in the Global Coconut...

3 Key Insights on US$ 7 Bn Opportunity in the Global Coconut Milk and Cream Market: Ken Research

Driven by the increasing prevalence of lactose intolerance coupled with the rising trend for veganism and plant-based diet boosting the demand for coconut milk and milk products among consumers, the Global Coconut Milk and Cream Market is Forecasted to reach nearly US$ 7 Bn by 2028 says Ken Research Study

Coconut milk has a liquid consistency made from shredded coconut and water and pureed until smooth, whereas coconut cream is comparatively much thicker and richer. Coconut cream is made from four parts of shredded coconut and one part of water simmered until it thickens. Coconut milk and creams are plant-based and are widely popular among vegetarians, vegans, lactose intolerant, and others. It comes in two categories namely organic and conventional.

Ken Research shares 3 key insights on this high-demand market from its latest research study.

1.    Growing Popularity of Dairy-Free, Plant-Based, and Vegan Products Among Consumers Encourage Market Growth

Coconut milk and cream are widely popular among consumers of all age groups as an alternative to animal-based products. The increasing awareness regarding the health benefits of coconuts along with the wide usage of coconut products in multiple cuisines and processed food products to enhance the taste and texture are anticipated to propel the growth of the market. In addition, an increase in health-conscious consumers opting for healthy products to lead a healthier lifestyle is expected to boost the demand for coconut milk and cream in the Global Coconut Milk and Cream Market. However, allergies caused due to the consumption of coconut and coconut-based products along with fluctuating prices of raw materials may hamper the growth of the market.

According to Ken Research estimates, the Global Coconut Milk and Cream Market – valued at around US$ 2 Bn in 2017 and estimated to reach nearly US$ 4 Bn by 2022 – is expected to grow to around US$ 7 Bn opportunity by 2028.

Global Coconut Milk and Cream Market Revenue Forecast

2.    Rising Prevalence of Lactose Intolerance Among Consumers Globally is Driving the Market Growth

The increasing incidence of lactose intolerance among consumers is ultimately increasing the demand for plant-based products such as coconut milk and creams, which is likely to augment the growth of the market. Rising health awareness in the wake of COVID-19 is boosting the trend for vegan diets and plant-based products. The shift in consumer preference towards plant-based products over animal-based products along with the increasing number of vegetarians and the vegan population is anticipated to aid in the growth of the market.

The below graph depicts the prevalence of some level of lactose intolerance among population for select countries.

Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDY1

Prevalence of Some Lactose Intolerance among Population by Country

3.    High Prices of Coconut Milk and Cream Products Compared to Animal-Based products are the Most Significant Barrier to the Growth of the Market

The high prices of coconut milk and cream due to the fluctuating cost of raw materials may hinder the growth of the market. The lack of awareness regarding lactose intolerance among consumers and comparatively higher prices of plant-based products like coconut milk are anticipated to restrict the growth of the market. In addition, the availability of other substitutes at cheaper prices in the market is likely to hinder the market growth globally.

The below graph depicts the comparison in prices of animal-based milk and plant-based coconut milk in US$/gallon.

Average Price Comparison for Animal Based Milk and Coconut Milk

For more information on the research report, refer to the below link:

Global Coconut Milk and Cream Market

RELATED ARTICLES

Retail Vending Machine Market Size & Trends Report, 2030

The retail vending machine market is no longer just about sugary snacks and greasy chips. It's evolving into a convenient and versatile solution, offering...

Used Cooking Oil Market Size, Growth & Trends

Used cooking oil (UCO), once a discarded element of our kitchens, is now a burgeoning market driven by sustainability and resource efficiency. This content...

Frozen Food Packaging Market Size, Growth and Key Trends

The frozen food industry is experiencing a delicious renaissance, and frozen food packaging is playing a crucial role in this revolution. Gone are the...

Most Popular

Navigating the Dynamic Landscape of the Smartphone Industry

The Smartphone industry stands at the forefront of technological innovation, shaping the way individuals communicate, work, and interact with the digital world. From cutting-edge...

US Food Allergen Testing Industry: Trends, Challenges, and Opportunities

The US Food Allergen Testing industry is a critical sector safeguarding public health by ensuring food safety and catering to the growing population with...

The Dynamics of the Coal Mining Market: Growth Drivers and Challenges

Introduction Coal mining serves as a cornerstone in fueling industries, generating electricity, and fostering economic growth worldwide. This article delves into various facets of the...

A Market Research Report on the Cosmeceuticals Industry in India

The Indian beauty landscape is witnessing a fascinating shift. Consumers are no longer just seeking products that enhance appearance; they are actively seeking solutions...