Coconut Milk Powder Market Size - By Form (Organic, Conventional), By Nature (Full-Fat, Low-Fat), By Application (Food and Beverages, {Beverages, Confectionery, Bakery, Soups and Sauce}, Personal Care Products), By Distribution Channel & Forecast, 2024-2032

Coconut Milk Powder Market Size

Coconut Milk Powder Market size was valued at USD 2.5 billion in 2023 and is projected to expand at over 7.3% CAGR from 2024 to 2032. Global coconut milk powder, a plant-based dairy alternative, is produced by spray-drying fresh coconut milk. This ingredient is not only convenient and long-lasting but also versatile for cooking, baking, and beverage applications. The market is witnessing growth, fueled by a rising demand for vegan, lactose-free, and organic products, especially in North America, Europe, and the Asia-Pacific.

According to the USDA, the demand for plant-based foods has increased by 27% over the past year. Key drivers of this growth include heightened health consciousness, the surging popularity of plant-based diets, and broader applications spanning food, beverages, and personal care. Furthermore, there's a significant opportunity in innovative product development and expanding distribution channels, with a particular emphasis on online retail and specialty stores that cater to health-conscious consumers.
 

The global coconut milk powder market is witnessing significant growth, primarily fueled by two key drivers such as the surging demand for plant-based and vegan products and a heightened awareness of lactose intolerance and the benefits of dairy-free diets. According to the United States Department of Agriculture (USDA), the demand for plant-based foods has increased by 11% in the past year. With an increasing number of consumers embracing plant-based lifestyles for health, ethical, and environmental reasons, coconut milk powder has emerged as a preferred dairy alternative.
 

Furthermore, the widespread prevalence of lactose intolerance, particularly in regions like North America and Europe, is steering consumers towards non-dairy options. The National Institutes of Health (NIH) reports that approximately 65% of the global population has a reduced ability to digest lactose after infancy. These dynamics, combined with a rising interest in organic and natural ingredients, are driving the demand for coconut milk powder across diverse sectors, including food, beverages, and personal care.
 

The global coconut milk powder market faces two primary challenges such as fluctuating raw material prices and limited consumer awareness in specific regions. Climate conditions heavily influence coconut production, rendering it susceptible to supply disruptions and price volatility. This volatility can subsequently affect both the cost and availability of coconut milk powder.
 

Furthermore, although demand is on the rise in developed markets, certain areas, especially in Latin America and parts of Africa, exhibit limited consumer awareness and adoption. Addressing these challenges necessitates an emphasis on sustainable sourcing and strategic marketing initiatives aimed at enlightening consumers about the advantages of coconut milk powder.
 

Coconut Milk Powder Market Trends

Key trends are shaping the global coconut milk powder industry. These include a surging demand for organic and clean-label products, the increasing popularity of plant-based diets, and innovative applications for the product. According to the USDA, the organic food market in the United States grew by 12.4% in 2023, reflecting a broader emphasis on health and wellness. Today's consumers are gravitating towards organic, non-GMO, and additive-free coconut milk powder.
 

As more individuals adopt plant-based and vegan lifestyles, sectors like dairy alternatives, confectionery, and baked goods are witnessing heightened demand. Furthermore, manufacturers are broadening the horizons of coconut milk powder, integrating it into functional foods, snacks, and even personal care items. With these trends and the rise of e-commerce, the market's growth trajectory is being distinctly shaped.
 

Coconut Milk Powder Market Analysis

The coconut milk powder industry for conventional segment is anticipated to reach USD 3 billion by 2032, growing at a CAGR of over 7.2% during the forecast period. Due to its affordability and widespread availability, the conventional segment of the coconut milk powder market has significant growth potential, especially when compared to organic alternatives. Produced through standard farming and processing methods, conventional coconut milk powder is more accessible to a wider consumer base. This is particularly evident in cost-sensitive regions such as Asia-Pacific and Latin America.
 

The powder finds common applications in food and beverage manufacturing, spanning processed foods, desserts, and various culinary products. With the rising demand for plant-based ingredients, the conventional segment is poised to benefit, leveraging its versatility and price advantage, especially in bulk production and mainstream retail markets.
 

The coconut milk powder market share from the full-fat segment will observe around 7.1% CAGR through 2032 with a market size of USD 2.7 billion. Full-fat coconut milk powder is gaining traction in the market, thanks to its creamy texture and versatility. The food and beverage sectors favor full-fat variants for curries, sauces, soups, desserts, and dairy alternatives such as ice cream and yogurt.
 

Its rich fat content attracts consumers looking for indulgent, plant-based choices, especially among the expanding vegan and lactose-intolerant demographics. As demand surges for natural, clean-label products, full-fat coconut milk powder finds its way into premium and organic food formulations, signaling robust growth potential in both established and emerging markets.
 

The coconut milk powder market share from the food and beverages segment will observe around 7.2% CAGR through 2032 with a market size of USD 3.3 billion. The scope of food and beverages in the market is extensive, driven by its versatility and growing popularity. In the food sector, it is used in baking, cooking, and confectionery, offering a dairy-free alternative with rich flavor and creamy texture.
 

In the beverages sector, coconut milk powder is a popular ingredient in smoothies, coffee creamers, and plant-based milk alternatives. Its appeal spans across various segments, including health-conscious consumers, vegans, and those with lactose intolerance. The expanding use of coconut milk powder in product innovation and the demand for convenience foods are further enhancing its market presence in these sectors.
 

The coconut milk powder market share from the supermarkets/hypermarkets segment will observe around 7.1% CAGR through 2032 with a market size of USD 1.8 billion. The scope of food and beverages in the market is extensive, driven by its versatility and growing popularity. In the food sector, it is used in baking, cooking, and confectionery, offering a dairy-free alternative with rich flavor and creamy texture.
 

In the beverages sector, coconut milk powder is a popular ingredient in smoothies, coffee creamers, and plant-based milk alternatives. Its appeal spans across various segments, including health-conscious consumers, vegans, and those with lactose intolerance. The expanding use of coconut milk powder in product innovation and the demand for convenience foods are further enhancing its market presence in these sectors.
 

Asia Pacific coconut milk powder market will record a market size of about USD 2 billion and 7.7% CAGR during 2024 and 2032, driven by the region's substantial coconut production and consumption. Countries like the Philippines, Thailand, and Indonesia are key producers and exporters, benefiting from established cultivation and processing infrastructure. The industry's growth is fueled by increasing domestic and international demand for dairy alternatives and plant-based products.
 

Additionally, rising health awareness and the popularity of traditional coconut-based recipes contribute to market expansion. Innovations in product formulations and packaging, along with expanding distribution channels, are further supporting the industry's growth in this dynamic and diverse region.
 

Coconut Milk Powder Market Share

Players in the coconut milk powder industry are employing various strategies to bolster their market presence. Key to their approach is product innovation, with firms rolling out new formulations, including organic and fortified variants, to cater to a wide array of consumer preferences. Emphasizing sustainable sourcing not only ensures consistent product quality but also addresses pressing environmental concerns.
 

By forging strategic partnerships and collaborations with distributors and retailers, companies are broadening their market reach and enhancing supply chain efficiency. Through targeted marketing and educational initiatives, they are enlightening consumers about the myriad benefits of coconut milk powder. Furthermore, with the surge in online shopping demand, companies are tapping into e-commerce platforms to boost product accessibility.
 

Coconut Milk Powder Market Companies

Top companies operating in the coconut milk powder industry include:

• THE WHITEWAVE FOODS COMPANY,
• Cocomi Bio Organic
• THE COCONUT COMPANY
• Nestlé S.A,
• Ekowarehouse Ltd.
• Specialty Food Association, Inc.
• Fiesta Ingredients Australia Pty Ltd
• Pulau Sambu
• Singapore Pte Ltd.
• Renuka Foods
• AYAM SARL
• BareOrganics
• Natural Sourcing, LLC
   

Coconut Milk Powder Industry News

• In 2022, SUNRNBIRD introduced grain oats milk and coconut milk, both of which are sugar-free and made with natural ingredients. The updated coconut milk now boasts enhanced freshness, aroma, and flavor, thanks to its new zero-sugar formulation.
   

The coconut milk powder market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Form

• Organic
• Conventional

Market, By Nature

• Full-fat
• Low-fat

Market, By Application

• Food and beverages           
  • Beverages        
  • Confectionery
  • Bakery
  • Soups and sauce          
• Personal care products

Market, By Distribution Channel

• Supermarkets/Hypermarkets
• Online retail
• Specialty stores
• Convenience stores

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA