Coconut milk powder market set to nearly double by 2032
The Morning: The global coconut milk powder market is poised for robust growth over the next decade, with valuations projected to nearly double, from $ 224.2 million in 2025 to $ 409.9 million by 2032, driven by surging consumer demand for plant-based, dairy-free alternatives.
The forecast, released by Meticulous Research, anticipates a compound annual growth rate (CAGR) of 9% during the period, reflecting evolving global dietary trends and increased awareness of lactose intolerance.
Coconut milk powder has found a strong footing across multiple applications, ranging from food and beverages to personal care. Its long shelf life, convenience, and nutritional appeal are attracting manufacturers looking for versatile ingredients to meet rising demand for clean-label, vegan, and allergen-free products.
The segment’s expansion is closely tied to the global rise of veganism and health-conscious consumer behavior.
According to Meticulous Research, the growing popularity of coconut milk powder is further reinforced by the high prevalence of lactose intolerance, particularly in Asia and parts of Africa, where plant-based alternatives offer practical dietary solutions.
Asia-Pacific remains the dominant market region, bolstered by traditional coconut usage, abundant raw material supply, and strong domestic demand.
Countries like Indonesia, Thailand, and Sri Lanka play a leading role in global production, while North America is emerging as the fastest-growing region, spurred by rapidly expanding vegan demographics and a booming plant-based food industry.
OSL take:
The report of the increasing global demand for coconut milk has opened up business/investment opportunities for foreign businesses/investors to explore in Sri Lanka. The current coconut industry in Sri Lanka and the conditions conducive to further expand the industry in the country have presented a set of new business/investment opportunities for foreign businesses/investors on the lookout for lucrative ventures. Given the growing global market and business potential in Sri Lanka’s coconut industry, a business or an investment in Sri Lanka’s coconut industry with the focus of exporting to foreign markets could provide quick returns on investments (ROIs). Also, the strong trade ties enjoyed by Sri Lanka with many foreign countries provide further access for businesses in the country’s coconut industry and related sectors to gain access to foreign markets. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in Sri Lanka’s coconut industry while also looking at expanding operations through local collaborations.
| Article Code : | VBS/AT/20250702/Z_4 |