North America Pegged to be at Forefront of Global Coconut Milk Consumption during 2017-2027

Nutrition-rich foods are becoming top choice of consumers in developing markets, while developed economies are already viewing them as top-grossing products. High nutritional content of coconut milk is garnering the interests of consumers in countries such as the US and Canada. Future Market Insights’ recent report on the global coconut milk market reveals that North America will be a dominant consumer & producer of coconut milk in the years to come. The global market for coconut milk, which is expected to witness sales of over 430,000 MT by the end of 2017, will garner around 25% of these sales from North America.

According to the report, revenues from global coconut milk sales reached S$ 780.4 Mn in 2016, and are estimated to soar towards US$ 830 Mn by the end f 2017. Key findings in the report project that the global market for coconut milk ill oar at a healthy 7.3% CAGR to bring in US$ 1,687.7 Mn in revenues during the ssessment period, 2017-2027. In terms of volume, the market will exhibit a 6.4% AGR and record an estimated sales of more than 800,000 MT towards the end of 027.

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Increasing demand for plant-based, organic beverages mong consumers, in developed as well as developing countries, is being bserved s the key attributor for growth of global coconut milk market. Besides the healthy ontent, consumers are also growing inclined towards new tastes, which is why avouring Asian cuisines enriched in coconut milk are gaining popularity across he lobe. However, high price of procuring raw coconut meat (in some countries), and rowing proliferation of organic substitutes for coconut milk, are likely to restrain he arket’s growth to a considerable extent.

Demand for oconut Milk Powder Losing Traction

One of the vital findings ompiled in the report indicate that in 2017, coconut milk in the form of powder is redicted to gain traction, reflecting a market share of 38%. However, towards the nd of the forecast period, presence of coconut milk powder products on global arket revenues is likely to incur a significant dip. Demand for coconut milk in form f fluids will grow steadily, and dominate with nearly 65% revenue share by 2027-nd. Likewise, the demand for conventional coconut milk is expected to gain raction in 2017, but may witness a decline in its global revenue share by the end f orecast period. Organic coconut milk products, on the other hand, will reflect an ptick in global sales, registering a value CAGR of 8.2% through 2027.

Growing consumption of coconut milk is mainly attributed by effective end-se. ousehold, food services and food & beverage manufacturing are observed s hree profitable end-uses of coconut milk. Collectively, revenues from these three nd-use applications will collectively account for more than 80% of global coconut ilk revenues by the end of 2027. The report also profiles leading producers and anufacturers of coconut milk in the world as key participants in the global coconut ilk market, which include Mc Cormick & co., The Whitewave foods, Goya oods, Charoen Pokphand Foods, Theppadungporn Agricultural Industry,Ducoco ilmentos SA, Thai Agri Foods, Celebes Coconut Corporation, Pacific Foods of regon, GraceKennedy Group, Thai Coconut Public Company Limited, M&S ood Industries, The Sambu Group, Fresh Fruit Ingredients Inc., Chef’s hoice Food Manufacturer Company Limited.

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