The global coconut milk powder market was valued at USD 315.3 Million in 2024 and is projected to reach USD 910.2 Million by 2033, growing at a CAGR of 11.88% during the forecast period of 2025-2033. Veganism rises so food and beverage industries adopt coconut milk more. It is easy to use. Its shelf-life is longer. Lactose intolerance cases rise. Asian cuisines gain popularity. These things drive the global coconut milk market. In 2023, Asia Pacific led in the market. Major reasons were about the region's cultural favor of coconut milk, the region's coconut production at a high rate, their customary use of coconut milk in classic cuisines, and the region's proximity to countries that produce coconut. The study provides a detailed analysis of the industry, including the Coconut Milk Powder Market growth, trends, share, size, and industry growth forecast.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Period: 2025-2033

Coconut Milk Powder Market Key Takeaways

• Current Market Size: USD 315.3 Million in 2024
• CAGR: 11.88%
• Forecast Period: 2025-2033
• Asia Pacific dominates the market driven by traditional cuisine and coconut production.
• Conventional powder leads product segment due to established market presence and affordability.
• Unsweetened powder holds largest share in type segment driven by health-conscious preferences.
• Pouches dominate packaging type segment offering convenience and resealability.
• Beverages represent leading application segment with growing plant-based drink demand.

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Market Growth Factors

Global demand for coconut milk powder is driven mainly by the rise in demand for veganism, a form of plant-based diet motivated by health, environmental, and ethical reasons to improve the plant-based dairy substitutes market. In 2023, there were nearly 88 million vegans (1.1% of the population) worldwide. India has the largest vegetarian population where an estimated 42% of its population abstains from the eating of meat products. People adopt veganism with a belief it is lower in saturated fat and cholesterol and higher in fiber, vitamins, and minerals than an omnivorous diet. Coconut milk powder gained interest as a nutritious and healthy dairy alternative because people associate veganism with health consciousness.

Other factors contributing to market growth include a greater demand from Asian cuisines. Coconut milk is an ingredient within Thai, Indian, Indonesian, Malaysian and Filipino cuisines. Coconut milk appears in curries, soups, stews, desserts, and drinks and has great demand because staple foods use it. It originated from Southeast Asia, where coconut palms grow very densely due to thousands of years of cultivation. However, from the increasing popularity of Asian dishes, demand for coconut milk and coconut milk powder is expected to increase. Vendors in the global coconut milk powder market are launching new coconut milk powder variants such as organic, flavored, and fortified coconut milk powder for differentiation.

Many people have a lactose intolerance, and this fact helps the dairy-free market grow. Individuals with lactose intolerance need to metabolize lactose inside dairy because they lack the enzyme. Those people have upset stomachs. According to Medline toward Plus (NIH), as of March 2023, 65% of human population digests lactose with decreased ability in infancy. Lactase does not persist most in people of east-Asian descent, 70% of whom do not have lactase persist. People with lactose intolerance are likely to use dairy-free products such as coconut milk powder for food nutrients. For lactose-intolerant people, customers tend to consider dairy-free products healthier or a more suitable nutrient source as a plant-based alternative.

Market Segmentation

Analysis by Product:

• Conventional: Dominates the market due to established presence and familiarity among consumers and manufacturers. More affordable compared to other variants such as organic or specialty powders. Lower cost appeals to wide range of consumers and allows manufacturers to maintain competitive pricing, driving market dominance.
• Organic: Growing segment appealing to health-conscious consumers seeking products free from synthetic pesticides, fertilizers, and genetically modified organisms. Commands premium pricing reflecting cultivation and processing standards.

Analysis by Type:

• Sweetened: Contains added sugars or sweeteners for enhanced flavor, suitable for desserts, beverages, and sweet applications requiring ready-to-use sweetened coconut milk.
• Unsweetened: Holds largest market share due to versatility in wide range of culinary applications. Used in both savory and sweet recipes, offering greater flexibility and creativity in kitchen. Neutral flavor profile makes it suitable for various dishes including curries, soups, sauces, desserts, beverages, and baked goods.

Analysis by Packaging Type:

• Pouches: Exhibit clear dominance offering convenience and ease of use for manufacturers and consumers. Resealable feature allows easy opening and closing, ensuring product longevity and preventing spoilage. Consumers can conveniently access and measure desired amounts without additional packaging or tools.
• Cartons: Provide rigid protection and stackability for retail display and transportation.
• Bottles: Offer premium presentation and resealability for household storage and portion control.
• Others: Include bulk packaging, sachets, and specialty containers for institutional and food service applications.

Analysis by Application:

• Beverages: Represent leading application segment driven by growing consumer shift toward plant-based and dairy-free beverage options. Serves as excellent alternative to dairy milk, offering creamy and flavorful base for various beverages. Coconut-based beverages gained popularity due to unique taste, nutritional benefits, and association with tropical flavors.
• Savories: Include curries, soups, sauces, and savory preparations utilizing coconut milk powder for rich flavor and creamy texture.
• Bakery & Confectionery: Utilized in cakes, cookies, pastries, and confectionery products as dairy milk replacement or flavor enhancer.
• Dairy & Frozen Products: Applied in dairy alternative products, ice creams, frozen desserts, and yogurt alternatives.
• Others: Include nutritional supplements, infant formula, coffee creamers, and specialty food applications.

Analysis by Distribution Channel:

• B2B: Accounts for majority of market share as coconut milk powder serves as key ingredient for food manufacturers across various industries. Used in production of baked goods, desserts, sauces, soups, curries, confectionery items, and dairy alternatives. Facilitates streamlined supply chains enabling efficient order processing, inventory management, and timely delivery.
• B2C: Includes supermarkets and hypermarkets, convenience stores, online retailers, and others serving individual consumers and households seeking retail-packaged products.

Analysis by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Countries Covered: United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico

Regional Insights

By region, the largest consumption of coconut milk exists within the Asia Pacific, because of the strong coconut culture, ancient Asian cuisines, and abundant availability of coconuts. Among the world's largest producers of coconut are Indonesia, the Philippines, India, Thailand, and Vietnam. Raw material availability/reliability of supply. Co-location with coconut growing regions enables the easy availability of coconut and processing into finished products. The Asia Pacific region is the world leader for coconut products. Health awareness increases and plant-based demands expand to contribute to the regional whole grains market.

Recent Developments & News

In April 2024, OAKBERRY and KAPOWDER collaborated, introducing a 100 percent plant-based smoothie someone makes from organic açaí, coconut milk, strawberries, and plant-based collagen powder. That month, Vita Coco Company said around that time Vita Coco Treats would launch, a coconut milk beverage containing sweet strawberries. In March 2024, Thai Food Products International partnered with Food Farm Hub for supply of quality food ingredients, including coconut cream powder. AXELUM Resources launched a new coconut milk powder in flexible retail packaging in August 2023 to penetrate the branded consumer segment. In April 2020, Danone S.A. launched yogurts made from coconut powder in the US under the So Delicious Dairy Free brand in four different flavors.

Key Players

• Anthony's Goods (ACH Food Companies Inc.)
• BareOrganics
• Bramble Berry Inc.
• Dr. Ben Kim Natural Health Solutions
• Enerhealth Botanicals LLC
• Grace Foods Canada Inc.
• Healthworks
• King Arthur Flour Company Inc.
• KOS Naturals
• Nestlé S.A.

Customization Note

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