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Coconut Milk Market to Reach $2.9 Billion by 2027, Growing at 17.1% CAGR
According to a new report published by Allied Market Research, titled, โCoconut Milk Market by Packaging Type, Category, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021โ2027,โ the global coconut milk market size was valued at $1.1 billion in 2019 and is anticipated to reach $2.9 billion by 2027, with a CAGR of 17.1% during the forecast period.
๐ ๐๐จ ๐๐๐๐๐ฌ๐ฌ ๐๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ, ๐๐ฅ๐ข๐๐ค ๐๐๐ซ๐: https://www.alliedmarketresearch.com/request-sample/11519
๐๐ฑ๐๐ข๐ญ๐ข๐ง๐ ๐๐๐๐๐ซ ๐๐ฅ๐๐ซ๐ญ! ๐ ๐๐๐ญ ๐ ๐๐๐ฌ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐๐จ๐ฎ๐ซ ๐๐๐ฑ๐ญ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐! ๐๐ฎ๐ฒ ๐ง๐จ๐ฐ ๐๐ง๐ ๐ญ๐๐ค๐ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ฅ๐ข๐ฆ๐ข๐ญ๐๐-๐ญ๐ข๐ฆ๐ ๐จ๐๐๐๐ซ. ๐๏ธ
The coconut milk market is anticipated to experience substantial growth, with an expected incremental revenue opportunity of $1.8 billion from 2019 to 2027. This growth is primarily driven by the increasing health consciousness among consumers and improvements in distribution networks. Consumers' willingness to pay more for products offering health benefits is identified as a key driver for the development of the coconut milk products market.
Untapped markets in various regions of Africa, including Zimbabwe, Liberia, Eritrea, and Burundi, present lucrative opportunities for coconut milk manufacturers. These regions are still in the nascent stages of coconut milk consumption, indicating potential growth avenues.
Coconut milk and its products are still in nascent stages in various regions of Africa, such as Zimbabwe, Liberia, Eritrea, and Burundi, along with other developing regions. These are still untapped, which present lucrative coconut milk market opportunities for manufacturers of coconut milk.
๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A11154
The future market for coconut milk is expected to be propelled by the rising use of coconut-based products in the food and beverage industry. Coconut milk is a widely used ingredient in various cosmetic and processed food products, such as cookies, cakes, milkshakes, and ice cream. The demand for coconut milk is expected to grow significantly with the increase in the consumption of processed food products, driven by the rising urban population.
The coconut milk market analysis reveals segmentation based on packaging type, category, end-user, distribution channel, and region. Packaging types include plastic bottles, tetra packs, and cans. Tetra packs are a dominant packaging type globally, with an expected growth rate of 16.5% from 2021 to 2027, reaching $1,778.8 million by 2027.
The conventional category holds a major market share, driven by the widespread availability of conventional coconut products globally. In the Asia-Pacific region, the conventional category has gained a large consumer base, contributing to the growth of the coconut milk industry.
Increase in use of coconut-based products in food & beverage applications is expected to drive the market for coconut milk in the future. Coconut milk is widely used as ingredient in a variety of cosmetic products and processed food products such as cookies, cakes, milkshakes, and ice cream. With growth in consumption of processed food products, owing to rise in urban population, the demand for coconut milk is expected to grow at a significant rate in future.
๐ ๐๐๐ฅ๐ค ๐ญ๐จ ๐จ๐ฎ๐ซ ๐๐ฑ๐ฉ๐๐ซ๐ญ : https://www.alliedmarketresearch.com/connect-to-analyst/A11154
In terms of end-users, the food services segment holds a significant market share, attributed to the increased purchasing power of consumers and a rise in spending on luxury foods and beverages. The retail distribution channel, particularly hypermarkets/supermarkets, emerged as the leading channel in 2019, experiencing significant growth during the forecast period due to increased retail sales business and ample shelf space availability.
Asia-Pacific dominated the coconut milk market in 2019, securing the maximum share due to a substantial consumer base and population growth. Small and medium enterprises (SMEs) in the region are focusing on online sales channels, investing in marketing activities, and witnessing increased penetration of organic coconut milk among consumers, contributing to market growth.
According to the coconut milk market analysis, the market is segmented on the basis of packaging type, category, end user, distribution channel, and region. Based on packaging type, the coconut milk market is categorized into plastic bottles, tetra packs, and cans.
Tetra packs are widely used globally and is one of the prime packaging types for coconut milk; thus, is expected to influence the overall coconut milk industry. The tetra pack segment was valued at $699.5 million and is expected to grow with a CAGR of 16.5% from 2021 to 2027, to reach $1,778.8 million by 2027.
๐ ๐๐๐ค๐ ๐ ๐๐ข๐ซ๐๐๐ญ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ๐ฌ! ๐๐ข๐ฆ๐ข๐ญ๐๐ ๐๐ข๐ฆ๐ ๐๐๐๐๐ซ: ๐๐๐ฒ ๐๐๐๐ - ๐๐ฎ๐ฅ๐ฒ ๐๐๐๐ : https://www.alliedmarketresearch.com/checkout-final/4dc5e59c972bb65fe7705804e5344777
๐ ๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
- McCormick & Company Inc.
- Goya Foods Inc.
- Celebes Coconut Corp.
- Vita Coco
- Thai Agri Foods Public Co. Ltd
- Danone SA
- Pureharvest
- Thai Coconut Public Company
- Dabur India Ltd.
ยซ ยป ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐ ๐จ๐จ๐ ๐๐ง๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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