Coconut Milk Market Outlook
As per the new report furnished by Market Research Future (MRFR), the global coconut milk market is slated to showcase a highly impressive growth during the forecast period (2020-2028). Coconut milk refers to the thick white liquid extract of coconut. Coconut milk is obtained by grating and then extracting the liquid from coconut meat. Coconut meat is extensively used in various food industries for improving the aroma, flavor, and nutrient content of the food.
Market Drivers and Challenges
The global coconut milk market size is set to expand dramatically due to its increasing application in the food & beverage as well as agriculture industry. Moreover, shifting consumer dietary patterns coupled with the growing vegetarian population will be a few factors that will boost the product demand on a global platform. Because of environmental and ethical concerns, a greater number of people are inclining toward a vegetarian diet which in turn is augmenting the consumption of coconut milk. Coconut milk helps strengthen the immunity system of the body, in addition to reducing the incidence of illness.
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The coconut milk market is segmented on the basis of form, packaging, application, and distribution channel.
The Coconut Milk Market Share Revenue has been segmented on the basis of form, which is sub-segmented into powder, liquid, and others. The liquid form has been identified as the leading segment with a major share on account of its ready-to-drink and ready-to-use property.
The global coconut milk market is spread across Europe, North America, Asia Pacific, and the Rest of the World (ROW).
Duco Produtos Alimenticios S/A (Brazil), Goya Foods, Inc. (U.S.), WhiteWave Foods (U.S.), Theppadungporn Coconut Co. Ltd. (Thailand), Native Forest (U.S.), Pure Harvest (Australia), and McCormick & Company (U.S.) are some of the prominent companies making a massive contribution to the global coconut milk market.
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