Coconut milk is derived from flesh of mature brown coconuts which is primarily used in many traditional cuisines around the world. Coconut milk is a popular food ingredient used in Southeast Asia, the Caribbean, and northern South America. Coconut milk is classified as either thick or thin, based on consistency and how much it’s processed. In traditional cuisines, thick coconut milk is used in desserts, and thick sauces while thin milk is used in soups, and thin sauces.
Coconut consumption provides numerous health benefits such as, it helps to improve the immune system, and also helps to cure certain illnesses. Coconut milk is good source of lauric acid which is stored by the human body and used as energy, which is a key factor driving growth of the global coconut milk market. In addition, coconut milk helps to control blood pressure, minimizes strokes, and heart attacks, and increasing number of lactose intolerant population, coupled with increasing number of individuals preferring vegan diet are major factors fuelling growth to the global coconut milk market over the forecast period.
However, over consumption of coconut milk can cause certain types of allergies and also increase weight of an individual which are key factors restraining growth of the global coconut milk market. Also, coconut milk contains high amounts of saturated fat that can increase cholesterol levels in individuals when consumed, this is a major factor hampering growth of the global coconut milk market over the forecast period.
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The global coconut milk market report has been segmented on the basis of state, nature, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is a dominant player in the global coconut milk market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed to factors such as increasing number of lactose intolerant population in the region. The market in Europe is accounts for second-highest revenue share, owing to high awareness levels among the general population about health benefits of coconut milk. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increasing use of coconut milk in various cuisines, coupled with relatively high consumption of coconut milk in various countries in the region.
Prominent players in the global market include, Pureharvest, WhiteWave Foods, Theppadungporn Coconut Co. Ltd., Goya Foods, Edward & Sons, Ducoco, Thai Agri Foods, Chi, McCormick, and Trader Joe.
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