According to the Vegan Society, the market for plant-based milk in Europe is expanding rapidly in the United Kingdom. Approximately 15% of the entire European market was made up by this industry in 2019, with a total market value of US$ 320.6 million. The changing consumer beliefs that items made from plants are safer and healthier than those made from animals will help to propel market expansion. The increase in its global sales has been largely attributed to consumers' shifting dietary preferences toward plant-based meals. Leading producers of coconut milk powder are also coming up with inventive methods to use the product in different baked goods and confections, which will further fuel market expansion. The rise in sales of plant-based milk can be attributed to the fact that lactose intolerance is becoming more common among customers.
Global Coconut Milk Powder Market was valued at US$ 32.40 Mn in 2021 in terms of revenue, exhibiting a CAGR of 8.92 % during the forecast period (2022 to 2030).
Top Companies in the Coconut Milk Powder Industry:
1.Tirumala Food Industries
Established in the year 2010, Tirumala Food Industries is engaged in offering a wide range of spices and other agro products. It has headquarter situated in Mumbai, India.
2. Nestlé S.A.
Nestlé S.A., together with its subsidiaries, operates as a food and beverage company. The company was founded in 1866 and is headquartered in Vevey, Switzerland. In November, 2022 Nescafé Dolce Gusto launches Neo, the brand's next generation coffee machines and pods.
3. Renuka Foods PLC
In 1975, Renuka Enterprises Ltd is established by Mrs. I. Renuka Rajiyah and within the first three years of operations becomes one of the leading exporters of agriculture commodities – desiccated coconut and spices from Sri Lanka. It has headquarters situated in Colombo, Sri Lanka.
4. The Coconut Company (UK) Ltd.
The Coconut Company (UK) Ltd is an active company incorporated in 2014 with the registered office located in London, Greater London.
5. Ayam Sarl
Ayam Sarl is one of the leading brand in food industries and was founded in 1892. The company has headquarters situated in Singapore.
6. S & P Industries Sdn Bhd
S&P Industries Sdn Bhd was established in 1983, pioneered the manufacturing and production of instant coconut milk powder in Malaysia. It has headquarters situated in Petaling Jaya, Malaysia and is operational in more than 40 countries.
7. Shriram Coconut Products Limited
Shriram Coconut Products Limited is a Non-govt company, incorporated in 1994. It has headquarters situated in Coimbatore, India.
8. Star Heritage Products
Since 2015, we are matching up with the never-ending necessities of the customers, our company is a leading Manufacturer, Wholesaler and Trader of Crispy Chips, Masala Namkeen, Jaggery Cubes and many more. It has Head office at Kochi, Kerala.
*Definition- Fiber, vitamins E, C, B1, B3, B5, and B6 as well as minerals like iron, sodium, calcium, magnesium, selenium, and phosphorus are all present in the exceptionally nutrient-dense coconut flesh.
