Selbyville, Delaware, Jan. 28, 2021 (GLOBE NEWSWIRE) —
The Cooking Coconut Milk Market revenue is poised to cross USD 655 million by 2026, according to a new research report by Global Market Insights, Inc. Increasing health-consciousness among consumers coupled with rising demand for natural and organic food products include flavoured health drinks & foods among younger generation, should support the industry demand.
Bakery and confectionery application segment is expected to surpass USD 165 million by 2026 and expected to register over 8.5% CAGR between 2020 to 2026. In recent past years, the demand for bakery products has shown a noticeable growth owing to changing snacking choices and eating pattern, resulted in increasing desire of eating baked goods. Moreover, the demand for baked products, such as cakes, donuts, rolls, cookies, and other bakery products, has increased owing to numerous factors such as increasing demand for ready-to-eat food with adequate nutrition value and easy availability; therefore, this will support the market growth of the product in the coming years.
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Some major findings of the cooking coconut milk market report include:
- Bakery and Confectionery application witnessed highest growth over the coming timeframe due to rising consumer preference for convenience foods due to hectic schedules and the lack of time for cooking healthy foods are attracting consumer attention toward ready-to-eat bakery and confectionary.
- Cans packaging hold the significant share up to 64% in the market, as cans are cost-effective and recyclable products, which also match the trend of environment friendly packing for food products.
- Organic cooking coconut milk industry is expected to register significant growth of over 9.5% between through 2026, due to rising health consciousness among the consumer and their demand form organic food products.
- Asia Pacific region holds the largest share in the market and is anticipated to grow with a lucrative CAGR over 9% owing to huge availability of raw material for cooking coconut milk and well-established food and beverage industry.
Browse key industry insights spread across 270 pages with 240 market data tables and 46 figures & charts from the report, “Cooking Coconut Milk Market Statistics By Nature (Organic, Conventional), End-Use (Food & Beverage, Bakery & Confectionary, Deserts), Packaging (Bottles, Cans, Pouches), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Europe cooking coconut milk market is exceeded USD 55 million in 2019 and expected to register heathy growth in the next few years owing to the increasing consumer preference for healthier bakery products, confectionary, and snacks. The rising demand for low-sugar, low-fat, and organic bakery products is expected to favour the use of plant-based ingredients such as coconut milk in the bakery & confectionary industry. Moreover, a large portion of the European consumers are buying healthy, natural, and plant-based products and More than 70% of the European consumers prefer heathy food. This growing demand for healthy food in the European market is expected to foster the regional market statistics.
Major players in the market are focusing on strategic initiatives such as mergers, acquisitions and introduction of new products to cater to rising demand of cooking coconut milk primarily from lactose-indolence population. The key players operating in the industry include McCormick & Company, Ducoco, SunOpta, Theppadungporn Coconut Co., Ltd, Sambu Group, Danone SA, Vita Coco, and Thai Coconut Public Company.
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Browse Related Report:
Coconut Milk Market Statistics, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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