Cooking Coconut Milk Market Analysis

Cooking Coconut Milk Market Analysis

Organic cooking coconut milk market revenue should surpass USD 460 million by 2026 and is anticipated to register over 9.5% CAGR in the forecast period. The growth is attributed to increasing consumer consciousness about the side effects of artificial chemicals in food products. In addition, coupled with low-cost internet, surge of smart-phone usage, support an upsurge in access to information about organic food and its benefits over the convention food products should further boost the growth of organic cooking coconut milk industry.
 

Can based packaging segment is anticipated to surpass USD 420 million by 2026 and is anticipated to grow at a CAGR of over 8.5% between 2020 and 2026. The increasing demand for sustainable packaging is one of the critical factors, which drive the segment growth of cooking coconut milk market. Metal cans used for packaging different food & beverages can be recycled and returned to the store shelf as a new can in about 60 days. Furthermore, rising concerns about environmental pollution have increased the acceptance of recyclable packaging among consumers.  Metal cans have ability to be used several times without any quality change in the material which further promotes the usage of metal cans as a cost-effective and sustainable packaging solution.
 

The food and beverage application in the global cooking coconuts milk market is anticipated to show more than 45% of market share by 2026. The global food & beverage industry has seen strong growth over the last 10 years and is expected to continue in the coming years as well. This is being seen, not just in the more mature retail markets in the U.S. and Europe, but also in fast-growing emerging markets in Asia Pacific and the Middle East & Africa. Henceforth, this growing food & beverage industry worldwide will fuel the demand for the cooking coconut milk in multiple applications such as curries, soup, whipped cream, and others. The availability of a large raw material production base and advancements in the latest technologies for production and management of stocks support the industry share.
 

The Asia Pacific cooking coconut milk market is anticipated to register over 9% CAGR between 2020 to 2026. The region has huge potential for the market, owing to the highest cultivation of coconuts in the region. The main coconut-producing countries in Asia Pacific, Indonesia, Philippines, and India, account for more than 70% of the global coconut production. Therefore, new players in the region have huge opportunities to enter the cooking coconut milk market and export the product all over the world. Moreover, changing consumption patterns of people coupled with increasing consumer spending on eating resulted in the rise in demand for natural and organic food products and led to adopt healthy living will support the regional market statistics.