The global coconut milk powder market size is expected to reach USD 113.0 million by 2027 registering a CAGR of 10.1%, according to a new report by Grand View Research, Inc. Rising demand for vegan milk products across the globe, due to increasing concerns related to lactose intolerance, is expected to play a key role in the market growth. Furthermore, increasing demand for food items with higher shelf-life is projected to boost the consumption of coconut milk powder.
The demand for plant-based milk powders is expected to grow due to rapid adoption of veganism owing the numerous health benefits associated with it. Furthermore, people have become more conscious about reducing carbon footprint and thus, are opting for plant-based products.
In addition, increasing cases of allergy and intolerance pertaining to dairy products and its derivatives are likely to fuel the demand for plant-based milk powders. Further, according to a meta-analysis on “Country, Regional, And Global Estimates for Lactose Malabsorption in Adults” published in 2017 in U.S., 36% of the citizens were suffering from lactose intolerance.

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Coconut Milk Powder Market Report Highlights
• Conventional coconut milk powder accounted for the largest market share of more than 70% in 2019
• Organic product segment is expected to register the fastest CAGR during forecast years on account of increasing awareness regarding the benefits of consuming organic foods
• B2C application is expected to register the fastest growth during forecast years due to shifting inclination toward authentic cuisines
• Online distribution channel is expected to register the fastest CAGR of 11.1% from 2020 to 2027. This growth is attributed to the rising popularity of such channels as they offer various add-on benefits including cash-on delivery, coupon points, and cashback offers

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Coconut Milk Powder Market Segmentation
Grand View Research has segmented the global coconut milk powder market on the basis of product, application, distribution channel, and region:
Coconut Milk Powder Product Outlook (Revenue, USD Million, 2016 - 2027)
• Conventional
• Organic
Coconut Milk Powder Application Outlook (Revenue, USD Million, 2016 - 2027)
• B2B
• B2C
Coconut Milk Powder Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Online
• Offline
Coconut Milk Powder Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o India
o Australia
o Indonesia
• Central & South America
o Brazil
• Middle East & Africa (MEA)
List of Key Players of Coconut Milk Powder Market
• Nestlé Inc.
• Anthony’s Goods
• BareOrganics
• Bramble Berry Inc.
• Dr. Ben Kim Natural Health Solutions
• Enerhealth
• Grace Foods Canada Inc.
• HEALTHWORKS
• King Arthur Flour Company, Inc.
• KOS

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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.