Coconut milk is a mixture of oil, protein, and water made from freshly shredded coconut kernels. Diluted form of the mixture is referred to as milk, whereas the concentrated form identifies as coconut cream. Coconut cream/milk is utilized in a variety of recipes, including fish and meat dishes, as well as curries. Coconut milk that has been skimmed is also utilized as a protein supplement. Beverages, cocktails, and alcoholic drinks all contain coconut milk or cream. It is also good for skin care because of its hydrating and nourishing characteristics.
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Coconut milk can be found in a wide range of processed foods, including cookies, cakes, pies, soups, milkshakes, and ice cream. Copra, coconut chips, coconut squash, and coconut vinegar are all used in the food and beverage industries around the world. The demand for coconut milk is predicted to expand at a high rate in the future, owing to an increase in processed food consumption due to an increase in urban population.
Global Rise in Health-Related Concerns and Consciousness Projected to Fuel Growth of Coconut Milk Market
One of the primary factors driving the growth of the coconut milk market is the rise in demand for plant-based food items around the world. The increasing popularity of coconut milk owing to its numerous health benefits, such as improved cardiac health, weight loss, and immune system performance, as well as customer preferences for a vegetarian diet as expected to bode well for the market.
The usage of coconut milk products in a variety of cuisine recipes, as well as an increase in the vegan community as a result of rising environmental and animal welfare concerns, all have an impact on the market. Furthermore, the coconut milk market benefits from media influence on consumer awareness, rising health consciousness, increased food spending, and adoption of natural food products.
North America to Remain Biggest Stake Holder in Global Coconut Milk Market
The number of lactose-intolerant people in the United States have risen considerably. Aside from that, the rising prevalence of diabetes and obesity in the country has made people more cautious of their food choices. As a result, increased consumer health awareness is driving the expansion of coconut milk products in North America.
Meanwhile, Asia Pacific is the leading producer and exporter of coconut milk and cream. Sri Lanka, Thailand, and the Philippines are the top exporters of coconut milk and cream, respectively. In Asia Pacific, India is the largest user of coconut and coconut products, followed by Indonesia and the Philippines. These countries likewise primarily export to developed markets including the United States, Germany, France, and the Netherlands.
Danone SA (France), Goya Foods Inc. (New Jersey), Celebes Coconut Corp. (Philippines), McCormick & Company Inc. (US), Vita Coco (US), Thai Agri Foods Public Co. Ltd (Thailand), Pureharvest (Australia), Thai Coconut Public Company (Thailand), and Dabur India Ltd are among the key players profiled in this expansive coconut milk market. To expand their consumer base and enhance product sales, these companies are offering new and innovative products to the market.
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