In 2024, the global coconut milk powder market was valued at USD 1,065.46 million. It is projected to grow to USD 1,152.99 million in 2025 and further reach USD 2,599.31 million by 2032, advancing at a notable CAGR of 12.31% during the forecast period. The Asia Pacific region dominated the market in 2024, accounting for 52.83% of the overall share.
Leading players in the industry include Nestlé S.A., Axelum Resources Corp., and S&P Industries Sdn Bhd, among others.
Coconut milk powder is produced by dehydrating liquid coconut milk into a smooth, white powder. Originating in Southeast Asia—where coconuts are widely integrated into traditional diets—it has gained global recognition for its versatility. It is commonly used in curries, sauces, beverages, and dressings within the food industry, while also finding applications in non-food sectors such as soaps, skincare products, and hair care formulations.
The market’s growth is primarily fueled by the increasing popularity of vegan diets and the rising consumer inclination toward nutrition-focused products.
Information Source: https://www.fortunebusinessinsights.com/coconut-milk-powder-market-113311
Market Trends
Growing Popularity of Coconut-Based Functional Beverages
An important trend shaping the industry is the surge in demand for functional drinks made with coconut ingredients. With consumers placing greater emphasis on health and wellness, coconut milk powder is becoming a preferred base for creating nourishing beverage alternatives.
Segmentation Overview
The coconut milk powder market is categorized by category, application, and distribution channel. The conventional category leads the market, driven by its affordability and widespread accessibility. By application, the food & beverage segment holds the largest share, owing to its extensive use in a wide range of culinary products. In terms of distribution, the foodservice channel remains dominant, supported by growing consumer spending on convenient meals and dining services.
Regional Insights
The market is analyzed across North America, Europe, Asia Pacific, and other regions. Asia Pacific continues to lead due to its high consumption levels, while North America and Europe are witnessing steady growth as plant-based alternatives gain traction.
Report Coverage
This report provides an in-depth analysis of the coconut milk powder market, combining both statistical data and qualitative insights. It examines market size projections, key trends, developments across different segments, regulatory landscapes, and competitive dynamics. Related markets are also explored to provide a holistic view of growth opportunities.
Major Companies Profiled