In 2024, the global coconut milk powder market was valued at USD 1,065.46 million. It is projected to grow from USD 1,152.99 million in 2025 to USD 2,599.31 million by 2032, registering a robust CAGR of 12.31% throughout the forecast period. Asia Pacific led the global market, accounting for a dominant share of 52.83% in 2024.
Leading players in the market include Nestlé S.A., Axelum Resources Corp., and S&P Industries Sdn Bhd, among others.
Coconut milk powder is derived from dehydrated coconut milk and appears as a fine white powder. With its roots in Southeast Asia—where coconut is a staple in many recipes—this product has now found a global presence due to its versatility. It serves multiple purposes across both the culinary and non-culinary sectors. Commonly used in households and food service outlets, it is an ingredient in curries, chilled beverages, sauces, and dressings. Additionally, it has found applications in personal care products such as soaps, shampoos, and hair masks.
The growing shift toward veganism and the increasing focus on health and wellness are key drivers fueling the expansion of this market.
Information Source: https://www.fortunebusinessinsights.com/coconut-milk-powder-market-113311
Market Trends
Rising Popularity of Coconut-Based Functional Beverages
One of the prominent trends in the market is the surge in demand for functional beverages made from coconut ingredients. As consumers increasingly pursue healthier lifestyles, coconut milk powder is becoming a favored ingredient for creating nourishing and functional drink options.
Segmentation Analysis
The market is segmented by category, application, and distribution channel. The conventional segment dominated the category due to its broad availability and affordability. In terms of application, the food & beverage segment held the largest share, driven by the widespread use of coconut milk powder in edible products. By distribution channel, the foodservice sector led the market, supported by rising consumer spending on convenience foods and dining experiences.
Geographically, the market analysis spans North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific remains at the forefront, with other regions showing increasing potential due to growing consumer demand for plant-based alternatives.
Report Coverage
This report delivers an in-depth analysis of the global coconut milk powder market, offering both qualitative and quantitative insights. It includes market sizing, growth projections across segments, industry developments, regulatory outlooks in key countries, and emerging trends. The report also examines the competitive landscape and adjacent markets to provide a comprehensive market overview.
Key Companies Profiled in the Market
- 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)
Recent Industry Developments
- March 2024: Thai Food Products International announced a strategic partnership with "Food Farm Hub," a B2B digital platform, to launch a range of high-quality powdered beverages and food ingredients globally. The company’s offerings include coconut cream milk powder and freeze-dried durian powder, among others.
