VALLEY COTTAGE, N.Y. – The quest of achieving optimized health is at its peak, especially among the millennial cohort. Whilst elderly are seeking healthier alternatives in a bid to age sans health-related issues. As the demand for functional food and drinks keeps surging, the market of coconut milk products, owing to myriads of benefits, is set to mushroom in near future.
Oceania and Asia remain center of gravity on grounds of amplifying vegan trend in countries, such as Australia, and India. FMI computes that the global coconut milk products market is estimated to reach ~US$ 880 Mn in 2019, and is projected to grow at CAGR of ~7% over the forecast period (2019-2029).
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Full Fat Coconut Milk Products – Product of Choice
Despite slight decline in market share by 2029 end, full fat coconut milk products sustain their hegemony throughout forecast period, opines FMI. As compared to other non-dairy milk items, full fat coconut milk products consist of greater amount of fat, and negligible amount of carbs. They are ideal for individuals following keto diet, and for consumers intolerant to lactose.
Full fat coconut milk products are affluent in saturated fat, which as per recent studies, is beneficial for health. Presence of medium-chain triglycerides (MCTs) in full fat coconut milk products is being associated with weight-loss, as well as enhanced immune system, and heart health.
2019 Analysis and Review of Coconut Milk Products Market by Product Type – Full Fat Coconut Milk, Lite Coconut Milk, Refrigerated Coconut Milk, Coconut Cream, and Coconut Milk Powder for 2019 – 2029:
Organic Becomes the Buzzword
Consumers across the globe are getting familiarized with harmful impacts of products incorporating chemicals. Further, they are looking for clean label products. Manufacturers are prompt in responding to the changing trend by targeting retail stores for distribution of coconut milk products. In addition, they are offering insights regarding the products to achieve enhanced consumer experience in tandem with improved brand reputation.
The trend of veganism is intensifying in every nook and corner of the world, especially in Europe. Consumers are looking for plant-sourced food & beverages. They scan the details of the product, such as source, and animal welfare issues, as part of their purchasing journey. Coconut milk products easily resonate with the trend, whilst retailers are encroaching the shelves of their stores with plant-based products.
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“Coconut milk products are poised to garner noteworthy traction from consumers owing to umpteen health benefits, along with abidance with vegan fad. Early adopters of changing consumption patterns are set to witness worthwhile prospects. Further, food & beverages processors are driving their attention towards maintaining product quality with abundant nutritional background.”
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