The global coconut milk powder market was valued at USD 3.2 billion in 2021 and is expected to register a CAGR of 6.3% over the forecast period from 2022 to 2030. Growing consumer awareness of the health benefits of coconut milk powder is the major factor driving the growth of the market. Coconut milk powder is well-known for its high nutritional value, including vitamins, minerals, and proteins, which has been gaining traction among health-conscious consumers. Furthermore, growing consumer preference for vegan alternatives due to the increasing awareness of animal rights and the health benefits of plant-based products is expected to drive the growth of the market.

The increasing demand for convenience food products is also driving the growth of the market. Coconut milk powder is used as an ingredient in various food products, such as curries, soups, sauces, and desserts, due to its unique flavor and creamy texture. Furthermore, the rising demand for dairy-free and vegan alternatives, along with the rising concerns regarding lactose intolerance and food allergies, is also contributing to the growth of the market.

The growing demand for plant-based beverages, such as almond and soy milk, is providing an opportunity for the market players to capitalize on the growing demand by introducing new coconut milk powder-based beverages. For instance, in April 2021, Califia Farms launched its new oat-coconut blend, which is rich in calcium, protein, and fiber. The product is non-dairy and vegan, and contains no added sugar.

In addition, the rising trend of health and wellness is another significant factor driving the growth of the market. Coconut milk powder is a popular ingredient in health and wellness products, owing to its high nutrition value. For instance, in May 2021, The Coconut Company launched a range of coconut milk powder-based health and wellness products, including protein shakes, vegan protein powders, and collagen shots.

Furthermore, market players are focusing on expanding their presence in the market by launching new products and entering into strategic collaborations. For instance, in February 2021, Kuli Kuli Foods launched an organic coconut milk powder made with 100% coconut, in a partnership with The Coconut Company. The product is vegan, gluten-free, soy-free, and non-GMO. These launches are expected to support the growth of the market in the coming years.

The coconut milk powder segment held a major share of the market in 2020. Coconut milk powder contains natural ingredients, such as minerals, vitamins, and other essential nutrients. It is also rich in fiber, protein, and carbohydrates, which makes it a healthy, natural, and nutritious dairy milk alternative. Coconut milk powder has a longer shelf life than fresh coconut milk, which allows it to be used as an ingredient in many food products. Furthermore, the increasing demand for dairy-free and vegan products is driving the growth of the coconut milk powder market.

The flavored coconut milk powder segment is expected to register the highest CAGR during the forecast period. The demand for flavored coconut milk powder is increasing due to its various health benefits, such as improved digestion, weight management, and cholesterol reduction. In addition, the growing popularity of healthy snacks, such as smoothies and energy drinks, is also driving the demand for flavored coconut milk powder. Furthermore, the increasing number of health-conscious consumers is propelling the demand for flavored coconut milk powder, as it is considered to be a healthier alternative to other dairy-based products.

Coconut milk powder products are primarily available in the retail stores and supermarkets & hypermarkets segment. The segment accounted for a share of over 50.0% in 2022. The growing demand for milk substitutes, such as coconut milk, is driving the growth of this segment. The retail stores and supermarkets & hypermarkets offer a wide range of coconut milk powder products to customers, allowing them to choose the desired product based on their preference. Also, the availability of coconut milk powder products in retail stores and supermarkets & hypermarkets makes it convenient for customers to purchase these products without having to wait for the delivery.

The online segment is anticipated to expand at the highest CAGR of 11.2% over the forecast period. The increasing penetration of the internet, especially in developing countries, has enabled customers to purchase coconut milk powder products online easily. Moreover, online stores offer discounts and promotions on coconut milk powder products, which is driving the growth of this segment. Also, increasing awareness about health benefits associated with coconut milk powder is encouraging customers to purchase these products online.

The unsweetened coconut milk powder segment accounted for the largest revenue share of 45.2% in the year 2022. The demand for unsweetened coconut milk powder is mainly driven by health-conscious consumers. The growing awareness regarding the benefits of plant-based proteins and dairy-free products is likely to drive the market over the forecast period. In addition, the increasing number of vegan consumers is also likely to boost the demand for unsweetened coconut milk powder.

The sweetened coconut milk powder segment is anticipated to expand at the highest CAGR of 8.5% over the forecast period. The growing popularity of sweetened coconut milk powder among health-conscious consumers owing to its low sugar content and dietary benefits is anticipated to propel the segment growth over the forecast period. Furthermore, the increasing demand for flavored coconut milk powder from food and beverage manufacturers is also likely to fuel the segment growth.

Asia Pacific dominated the market and accounted for the largest revenue share of over 40.3% in 2022. The growing demand for dairy alternative products in the region is expected to drive the growth of the market. Moreover, the growing awareness regarding the health benefits of coconut milk powder and its increasing application in various food products are expected to drive the growth of the market. For instance, in August 2021, Sona Foods launched its new product range of coconut milk powders, which is suitable for the vegan diet.

North America is expected to witness the second-fastest growth in the coming years. The increasing awareness among health-conscious consumers regarding the health benefits of coconut milk powder is expected to contribute to the market growth in the region. Moreover, the availability of these products in retail stores is also expected to contribute to the growth of the market in the region. For instance, in October 2021, Coconut Bliss launched its coconut milk powder in the U.S. market.

In this part of the coconut milk powder business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your coconut milk powder products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a coconut milk powder products business comes from the sale of the product itself, as well as any accessories associated with it. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, the sale of merchandise, and leasing the place for parties and corporate events.

Projecting Expenses

In this section, all the regular expenses related to keeping the coconut milk powder products business running will be described. The list of operating expenses includes raw materials, packaging, wages, shipping and handling, utilities, insurance policies, advertising, and others.

Some of the key players operating in the coconut milk powder market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In October 2022, Nutralite launched a range of vegan coconut milk powders in the Indian market.

– In August 2022, Cocolife launched a range of organic coconut milk powders in the European market.

– In September 2022, KTC launched a range of flavored coconut milk powders in Asia.

Some of the prominent players in the coconut milk powder market include:

– Nutralite
– Cocolife
– KTC
– Nutiva
– Vita Coco
– SunOpta
– Olam International
– Roar Coconut
– Dairy Farmers of America
– Earth Circle Organics

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global coconut milk powder market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Organic
– Conventional
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the market size of the global coconut milk powder products?
[A]: The global coconut milk powder products market size is expected to reach USD 20.3 billion by 2027, expanding at a CAGR of 6.4% during the forecast period.

[Q]: Who are the key players in the global coconut milk powder products market?
[A]: The key players in the global coconut milk powder products market include Cargill Incorporated, Archer Daniels Midland Company, Carbery Group, Aroy-D, The Coconut Company, Doehler Group, NutriCoco, Griffith Foods, Nutriasia, and Thai Preserved Food.

[Q]: What are the factors driving the global coconut milk powder products market?
[A]: The factors driving the global coconut milk powder products market include increasing demand for vegan and plant-based products, growing health consciousness among consumers, and increasing availability of coconut milk powder products.

[Q]: Which region offers the largest opportunity for sales of coconut milk powder products?
[A]: Asia Pacific is expected to be the largest market for coconut milk powder products, owing to increasing demand from India, China, and other countries in the region.

[Q]: What are the trends in the global coconut milk powder products market?
[A]: Some of the trends in the global coconut milk powder products market include increasing demand for organic and natural ingredients, increasing demand for flavored and fortified products, and increasing demand for vegan and plant-based products.