COCONUT MILK AND CREAM MARKET ANALYSIS

Market Challenges And Opportunities

Global Coconut Milk and Cream Market: Drivers

• Rising preference for plant-based proteins among consumers: Shifting consumer preferences from animal-based proteins to plant-based proteins is primarily fuelling the growth of the global coconut milk and cream market. So, the growing number of vegetarians is augmenting the market growth has this food companies are introducing a diverse range of coconut milk and creamers by varying their fat content and flavor and even launching easy-to-carry package formats to boost convenience.
• Growing prevalence of lactose intolerance in the population: Increasing incidence of lactose intolerance among the population is also driving the demand for plant-based proteins. According to the National Institute of Diabetes and Digestive and Kidney Diseases, about 68% of the world's population has lactose mal absorption. However, lactose intolerance rates vary widely depending on ethnicity, with, as few as 5% of Northern Europeans and as many as, 90% of East Asians having lactose intolerance, as stated by the Canadian Society of Intestinal Research.

Global Coconut Milk and Cream Market: Restraints

• Threat of substitutes available in the market: The availability of alternatives, such as soy milk, a direct alternative to coconut milk is hindering the market growth. It is also plant-based and has a slightly lower fat content than coconut milk. In most recipes, one can swap it in a 1:1 ratio. The presence of coconut cream alternatives is again restricting the market growth. Heavy cream from cow’s milk is produced by scraping fat from fresh milk and is mainly common in high-fat foods such as creamy soups, sauces, and ice cream. It is much higher in fat than coconut cream and can replace it in equal quantities in most recipes. Counterbalance: With the presence of many alternatives of coconut milk and cream available in the market, coconut milk carry lot of health benefits. It aids in stimulating weight loss (a main reason of worry in the present scenario), build of fat, and in lowering the cholesterol level. Coconut milk is the liquid present inside a coconut, which is often added in many sweets and savory dishes, by acting as an alternative to dairy milk. Reports have stated that adding coconut milk in high protein diets can reduce abdominal fat, weight gain, food intake, cholesterol, and triglycerides.

 Global Coconut Milk and Cream Market: Opportunity

• Increase preference for low calorie products: Key players are introducing low-fat coconut milk and cream products in order to meet the growing demand for low-calorie food products among health conscious consumers. Low-fat conventional dairy has witnessed significant popularity by providing an attractive option to the  low-fat diet concerned consumers. Similarly, low-fat coconut milk and cream products are experiencing high demand among the food manufacturers which produces low in fats and calories.