In 2024, the global coconut milk powder market reached a valuation of USD 1,065.46 million. The market is expected to rise to USD 1,152.99 million in 2025 and further expand to USD 2,599.31 million by 2032, growing at a strong compound annual growth rate (CAGR) of 12.31% during the forecast period. Asia Pacific led the global market in 2024, holding a commanding 52.83% share.
Prominent companies operating in the industry include Nestlé S.A., Axelum Resources Corp., and S&P Industries Sdn Bhd, among others.
Coconut milk powder is produced by drying liquid coconut milk into a fine, white powder. Originating from Southeast Asia—where coconut is a staple in many dishes—the product has gained international popularity due to its versatility. It is widely used in both culinary and non-culinary applications. In kitchens and foodservice establishments, it features in curries, beverages, sauces, and dressings. Beyond food, it is also incorporated into personal care items such as soaps, hair care products, and skin treatments.
A growing preference for vegan products and heightened interest in health-focused nutrition are major factors driving the growth of this market.
Information Source: https://www.fortunebusinessinsights.com/coconut-milk-powder-market-113311
Market Trends:
Surging Demand for Functional Coconut-Based Beverages
A key trend in the market is the rising consumption of functional drinks made with coconut ingredients. As consumers increasingly prioritize wellness, coconut milk powder is becoming a popular choice for crafting healthy and nourishing beverage alternatives.
Segmentation Analysis:
The coconut milk powder market is segmented by category, application, and distribution channel. The conventional segment holds the largest share due to its widespread availability and affordability. In terms of application, the food & beverage segment leads the market, driven by the extensive use of coconut milk powder in a variety of food products. By distribution channel, the foodservice sector dominates, supported by increasing consumer spending on convenient meal options and dining experiences..
Regional Insights:
Regionally, the market includes North America, Europe, Asia Pacific, and other parts of the world. Asia Pacific continues to lead due to high regional consumption, while other regions are witnessing rising demand for plant-based product alternatives.
Report Scope:
This report offers comprehensive insights into the coconut milk powder market, combining quantitative data and qualitative analysis. It covers market size forecasts, trends, developments across major segments, country-specific regulations, and competitive dynamics. It also explores related markets to present a complete picture of industry opportunities.
Key Companies Profiled:
- Nestlé S.A. (Switzerland)
- Axelum Resources Corp. (Philippines)
- KAIRA ORGANIC WORLD (India)
- THE COCONUT COMPANY (U.K.)
- Tirumala Food Industries (India)
- Renuka Holdings PLC (Sri Lanka)
- Emma (Malaysia)
- S&P Industries Sdn Bhd (Malaysia)
- Unilever Food Solutions (India)
- Simabru Jaya Sdn Bhd (Malaysia)
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Recent Developments:
- March 2024: Thai Food Products International formed a strategic alliance with “Food Farm Hub,” a B2B digital marketplace, to launch an international range of premium powdered food and beverage ingredients, including coconut cream milk powder and freeze-dried durian powder.
