Asia-Pacific Coconut Milk Market Research Report: Information By Category (Conventional and Organic), Form (Liquid and Powder), Packaging Type (Bottles, Cans, Pouches), Distribution Channel (Store-Based {Supermarkets & Hypermarkets, Convenience Stores and Others} and Non-Store-Based) and Country (China, India, Japan, Australia & New Zealand, Rest of Asia-Pacific) - Forecast till 2027

Market Overview

Asia-Pacific Coconut Milk Market is projected to register a CAGR of 12.50% and reach USD 781.3 Million by 2026. Deshelled coconuts have many nutritional and medicinal properties. Coconut is a highly valued ingredient in a wide range of cuisines and is known for its enormous medical benefits, increasing the consumption of coconut milk. It is a source of saturated fats, which are considered to be good for health. It also helps in lowering cholesterol levels, improving blood pressure, and preventing heart attacks and strokes. However, due to the high lipid and saturated fat content of coconut milk, it is discouraged in the diet of patients suffering from cardiovascular ailments and hypertension. Coconut milk is mainly used to impart flavor and texture to Asian food.

Market Dynamics

The Asia-Pacific coconut milk market has witnessed significant growth over the last few years and is projected to register a 12.50% CAGR during the forecast period. The key drivers boosting the growth of the Asia-Pacific coconut milk market are growing lactose intolerance among the population in Asia-Pacific and the various health benefits of consuming coconut milk. However, the fluctuating prices of coconut and the availability of several substitute products are set to curb the growth of the Asia-Pacific coconut milk market. Nevertheless, the growing adoption of veganism and untapped markets of Asia-Pacific are expected to create lucrative opportunities for players operating in the regional market during the forecast period.

Asia-Pacific Coconut Milk Market Revenue, By Category, 2026 (USD Million)

Sources: MRFR Analysis

Segmentation

Based on Category, the Asia-Pacific coconut milk market has been divided into conventional and organic. The conventional segment accounted for a major market share of 84.13% in 2019 and is estimated to retain its dominance throughout the forecast period. However, the organic segment is projected to register the highest CAGR of 12.95% during the forecast period.

Asia-Pacific Coconut Milk Market Share, By Country, 2019 (%)

Sources: MRFR Analysis

Regional Analysis

The Rest of Asia-Pacific is expected to constitute a dominant share of the coconut milk market during the forecast period. It accounted for a 32.74% share of the market in 2019. The consumption of coconut milk is exceptionally high in ASEAN countries, which include Malaysia, Indonesia, Thailand, and the Philippines. Moreover, China also accounted for a substantial market proportion in 2019 and projected to exhibit a CAGR of 12.54% during the forecast period. However, Australia & New Zealand is projected to register the highest CAGR during the forecast period. Increasing lactose intolerance among the consumers and rising consumer inclination towards a vegan diet is expected to accelerate the growth of the coconut milk market in Australia & New Zealand during the forecast period.

Key Players

The Key Players in the Asia-Pacific Coconut Milk Market include McCormick & Company (US), Goya Foods, Inc. (US), Dabur India Ltd (India), Thai Agri Foods Public Co., Ltd (Thailand), Danone S.A. (France), Theppadungporn Coconut Co., Ltd (Thailand), ThaiCoconut Public Company Limited (Thailand), Edward & Sons Trading Co (US), Vita Coco (US), and Celebes Coconut Corporation (Philippines).

The players operating in the Asia-Pacific Coconut Milk Market are focusing on strengthening their geographic footprints through expansion and by launching innovative products.   

Market Segmentation

Asia-Pacific Coconut Milk Market, By Category

• Conventional


• Organic

Asia-Pacific Coconut Milk Market, By Form

• Liquid


• Powder

Asia-Pacific Coconut Milk Market, By Packaging Type

• Bottles


• Cans


• Pouches

Asia-Pacific Coconut Milk Market, By Distribution Channel

• 
  Store-Based
  
  
  
  • Supermarkets & Hypermarkets
  
  
  • Convenience Stores
  
  
  • Others
  
  
  
  


• Non-Store-Based

Asia-Pacific Coconut Milk Market, By Country

• 
  Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia & New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  

Intended Audience

• Milk manufacturers


• Dairy Products manufacturers


• Coconut milk manufacturers


• Convenience food manufacturers


• Processed food manufacturers


• Hotels, Restaurants, & Cafes


• Traders, Wholesalers, and Distributors


• Governments, Associations, and Industrial Bodies


• Investors and Trade Experts