Global Coconut Milk Market 2016-2020
Global outlook of the coconut milk market
According to Technavio’s market research analyst, the global market for coconut milk will experience promising growth and post a CAGR of over 15% by 2020. Much of this market’s growth can be attributed to the numerous health benefits associated with the consumption of coconut milk. Coconut milk helps in improving the immune system of the body and helps to reduce instances serious illnesses. The lauric acid found in coconut milk is easily absorbed by the body and is used by the body for energy. Also, since this fatty acid helps in lowering cholesterol levels, improving blood pressure, and preventing heart attacks or strokes, its rate of consumption will increase substantially over the next few years.
Another crucial factor that results in the strong growth of this market is the recent increase in vegan population. It has been observed that most people are now adopting vegan diets as a result of ethical concerns toward animal and for the environment. Since this diet does not include anything of animal origin, veganism has become a style of living and philosophy. Furthermore, it has also been noted that most people perceive a vegan diet to be healthy and prefer consuming more natural food products. According to People for the Ethical Treatment of Animals (PETA) in 2011, approximately 2% of the global population are vegans, and 33% mostly eat vegetarian food. The increase in the number of all-vegan restaurants in different countries proves this trend.
Competitive landscape and key vendors
The global market for coconut milk is subject to rapidly changing consumer demands and preferences. As a result, the manufacturer’s performance is affected by the changing consumer spending pattern. Furthermore, factors like the changing economic conditions are also affecting customers’ living standards and will also affect vendors' businesses.
Leading vendors in this market are -
- Goya Foods
- Theppadungporn Coconut
- WhiteWave Foods
Other prominent vendors analyzed in this market study are CHI, Ducoco, Edward & Sons, iTi Tropicals, Pacific Foods, Thai Agri Foods, and Turtle Mountain.
Segmentation by distribution channel and analysis of the coconut milk market
- Supermarkets and hypermarkets
- Convenience stores
- Specialist retailers
During 2015, the supermarkets and hypermarkets segment was the most popular distribution channel for coconut milk. The strong growth of organized retail in developed and developing economies was a major factor leading to the growth of this market segment. It has also been noted that the number of supermarkets in the US is increasing, and the trend is expected to continue during the forecast period.
Geographical segmentation and analysis of the coconut milk market
During 2015, the Americas dominated this market space and is envisaged to remain the largest market for coconut milk until the end of 2020. One of the major factors for this growing demand is the rising lactose intolerant population in the region who are not able to digest the lactose present in the dairy milk. Extensive research carried out by the analysts has shown that nearly 86% of the population in Brazil and 61% of the population in Argentina are lactose-intolerant.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global coconut milk market?
- What are the key market trends impacting the growth of the global coconut milk market?
- What are the challenges to market growth?
- Who are the key vendors in the global coconut milk market?
- What are the market opportunities and threats faced by the vendors in the global coconut milk market?
- What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
- What are the key outcomes of the five forces analysis of the global coconut milk market?
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