Coconut Milk Market | Strategic Industry Evolutionary Analysis Focus on Leading Key Players and Revenue Growth Analysis by Forecast To 2026

Market Drivers and Restrains
Market Research Future (MRFR) studied the Asia Pacific Coconut Milk Market 2020 along the review period till 2026. Through the review period, the APAC coconut milk market is likely to register 12.50% CAGR. By 2026, the review period market can value at USD 781.3 Mn. Coconut milk has several medicinal and nutritional properties. The growing awareness about benefits of coconut milk among people can favor the market. The cultural and traditional based in APAC regions, especially in India, can add impetus to the APAC coconut milk market. However, discouraged for consumption of coconut milk is discouraged in patients suffering from cardiovascular ailments due to their high level of lipid and saturated fat content. As hypertension cases surge in APAC, the APAC coconut milk can experience.

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Market Key Players
Market Research Future (MRFR) studied reputed players in the global APAC coconut milk market. They are; Danone S.A. (France), Dabur India Ltd (India), ThaiCoconut Public Company Limited (Thailand), McCormick & Company (US), Goya Foods, Inc. (US), Thai Agri Foods Public Co., Ltd (Thailand), Vita Coco (US), Celebes Coconut Corporation (Philippines), and Edward & Sons Trading Co (US).

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Segmental Analysis
The segments study of the Asia-Pacific Coconut Milk Market is based on Category, Distribution Channel, Form, and Packaging Type.
The category-based segments of the Asia Pacific coconut milk market are organic and conventional. The conventional segment is expected to surge at high pace and is likely to retain its dominance in the forecast tenure. The rise in practice of conventional farming is observed to favor the conventional coconut milk market in the years ahead. The drop in price of agrochemicals, such as; pesticides and fertilizers, used in conventional farming, can benefit the market. However, coconut milk obtained from conventional methods has certain number of chemical residues. Thus, surge in demand for organic coconut milk, obtained from coconut grown organically, can support expansion of the market. Coconut cultivated in chemical-free land and stringent guidelines to maintain purity of product can favor the organic segment. Although organic coconut milk is costlier and need high capital investment for cultivation, the rising consumption of organic coconut milk by fitness conscious and geriatric population can add to the market rise.

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The form-based segments of the Asia Pacific coconut milk market are powder and liquid. The commonly used liquid form of coconut milk undergoes less processing than its dry form. Liquid coconut milk is less expensive than the powder form. Coconut milk in liquid form is dispatched in tetra packs, bottles, pouches, and cartons. The liquid segment is expected to gain high profit owing to various advantages that are mentioned above. In addition, the readily available of liquid coconut milk as beverage is boosting its consumer base, thus can benefit the market. However, inconvenience in transportation of coconut milk gives edge to powder form of coconut milk, which, in turn, can promote the dry segment in the review period.

The packaging type-based segments of the APAC coconut milk market are bottles, pouches, and cans. The pouches segment can hold 43.12% share of the global market. MRFR study states that the pouches segment can rise at 12.47% CAGR in the forecast period. The cans segment is expected to thrive at 12.77% CAGR through the review tenure. The growing sales of cans due to their benefit of good storage option at high temperatures can support the segment. In addition, the increasing demand for trans-PET cans due to strong brand build of their manufacturers, and ingression of airtight packaging with 100% food-grade packaging material can bolster the market rise.

The distribution channel-based segments of the APAC coconut milk market are non-store-based and store-based. The sub-segments of the store-based segment are convenience stores, and supermarkets & hypermarkets among others. The store-based segment can garner decent revenue in the years to come. The one-stop shopping experience offered to consumers during sales from store-based channels can bolster the market.

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Regional Analysis
In Asia Pacific, the coconut milk market study is spanned across China, Japan, India, New Zealand, Australia and the Rest of Asia Pacific. MRFR regional analysis reveals that India is expected to hold high market value due to high production and sales of coconut milk. In China, the coconut milk market is expected to secure second-largest market share of the regional market by in 2026. Australia and New Zealand is expected to rise at 13.11% CAGR in the analysis period.

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This release was published on openPR.