Global Coconut Milk Market 2016-2020
About Coconut Milk
Coconut milk is a sweet, milky white liquid obtained from the grated meat of mature coconut. The rich taste and color of coconut milk can be attributed to the high oil and sugar contents in it. It is one of the main ingredients of Southeast Asian cuisine and is used for making curries, deserts, and sweets. Coconut milk is consumed as a drink and is also used as a cooking ingredient.
Technavio’s analysts forecast the global coconut milk market to grow at a CAGR of 15.4% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global coconut milk market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of coconut milk to individual consumers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Coconut Milk Market 2016-2020
Technavio recognizes the following companies as the key players in the global coconut market: Goya Foods, McCormick, Pureharvest, Theppadungporn Coconut, and WhiteWave Foods.
Other Prominent Vendors in the market are: CHI, Ducoco, Edward & Sons, iTi Tropicals, Pacific Foods, Thai Agri Foods, and Turtle Mountain.
Commenting on the report, an analyst from Technavio’s team said: “One of the positive trends that will affect the growth of the market during the forecast period is the increasing investments by the players in the market. The players in the market are investing in increasing their production capabilities and improving their distribution networks.”
According to the report, one of the main growth drivers of the coconut milk market is the health benefits associated with the consumption of coconut milk. Coconut milk helps in improving the immune system of the body, thereby helping to prevent diseases. The lauric acid found in coconut milk is easily absorbed by the body and used by the body for energy. Also, this fatty acid helps in lowering cholesterol levels, improving blood pressure, and preventing heart attacks or strokes.
Further, the report states that sourcing of tender coconuts is one of the main challenges faced by the global coconut milk market. The players in the market used to source their coconuts from Brazil initially, however due to the increase in demand, the supply from Brazil was not able to meet the demand. Hence, they have shifted to Asia to source the coconuts from countries such as the Philippines, Indonesia, and India, which are the largest coconut producers as of 2012.
Goya Foods, McCormick, Pureharvest, Theppadungporn Coconut, WhiteWave Foods, CHI, Ducoco, Edward & Sons, iTi Tropicals, Pacific Foods, Thai Agri Foods, Turtle Mountain.
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