New Zealand Coconut Milk And Cream Market Poised For Significant Growth Owing To Rising Health Consciousness Among Consumers




The New Zealand coconut milk and cream market has experienced steady growth in recent years attributed to the rising adoption of plant-based dairy alternatives. Coconut milk and cream are gaining popularity among health-conscious consumers as these products are free from lactose, dairy allergens, and cholesterol. The coconut milk provides vital nutrients including various vitamins, minerals, and fibers that support overall wellbeing.

Coconut milk and cream have applications across various food segments such as beverages, bakery & confectionery products, desserts, and others due to their mild flavor and creamy texture. Coconut milk and cream are commonly used as alternatives to dairy milk by vegans and people with lactose intolerance. The growing vegan population and instances of milk allergies have boosted the demand for coconut milk and cream-based products in New Zealand.

New Zealand Coconut Milk And Cream Market is estimated to be valued at US$ 13.8 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the New Zealand coconut milk and cream market are Thaicoconut.,Tetra Pak International S.A.,Kōkiri Coconut Milk,Ceylon Kokonati,Savaii Popo. The major manufacturers are focusing on new product launches, portfolio expansion, and mergers & acquisitions to gain a competitive advantage in the market.

Key opportunities in the New Zealand coconut milk and cream market include the growing popularity of plant-based food & beverages. The rising adoption of veganism and flexitarian diets has increased product demand. The booming foodservice industry fueled by consumers seeking dairy-free and ethnic food options outside homes also presents growth prospects.

Global expansion is a key focus area for leading brands to leverage new growth avenues. New Zealand coconut milk and cream producers are eyeing international markets like Australia, the United States, Canada, and Europe for tapping the growing demand. Strategic partnerships with restaurants and cafes to offer coconut milk & cream-based food & beverages will support global footprint expansion plans.

Market Drivers

The rising health consciousness among New Zealand consumers due to increasing cases of lifestyle diseases is a key driver bolstering the coconut milk and cream market growth. The growing cholesterol-free and dairy-free trends have elevated demand. Coconut milk and cream are considered healthier alternatives by health experts as they provide various nutrients and are easily digestible.

Market Restrains

While demand is rising, high commodity and transportation costs pose challenges for New Zealand coconut milk producers due to the island nation's geographical isolation. Importing coconuts and transporting finished goods internationally increases expenses. Fluctuating raw material prices and currency volatility can also negatively impact the supply chain in the long run and restrain market potential.

Segment Analysis

The New Zealand coconut milk and cream market is dominated by the packaged segment. The packaged coconut milk and cream segment accounts for over 70% of the total market share owing to the rising demand for convenient and easy-to-use products. The rising preference for ready-to-consume packaged coconut milk and cream over loose products is driving the growth of this segment. The canned sub-segment leads the packaged segment attributed to its longer shelf life as canned coconut milk and cream does not require refrigeration.

Global Analysis

The Asia Pacific region currently dominates the New Zealand coconut milk and cream market with a share of around 60% of the total market. Countries like Indonesia, Thailand, Philippines are major producers and consumers of coconut milk and cream. The consumption and demand for coconut milk and cream is increasing rapidly in countries like India, China, Japan attributable to rising health awareness. The New Zealand market imports coconut milk and cream majorly from Philippines, Thailand and Indonesia. The APAC region is expected to continue its dominance during the forecast period supported by the accelerated pace of coconut product innovations, expanding applications in food processing industries and rapid urbanization in developing economies of the region.

Get more insights on this topic: https://www.newsanalyticspro.com/new-zealand-coconut-milk-and-cream-market-estimated-to-witness-high-growth-owing-to-rising-lifestyle-changes/

 

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

What Are The Key Data Covered In This New Zealand Coconut Milk and Cream Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the New Zealand Coconut Milk and Cream's growth between 2024 and 2031.

:- Accurate calculation of the size of the New Zealand Coconut Milk and Cream and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- New Zealand Coconut Milk and Cream Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of New Zealand Coconut Milk and Cream vendors

FAQ’s

Q.1 What are the main factors influencing the New Zealand Coconut Milk and Cream?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top New Zealand Coconut Milk and Cream companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the New Zealand Coconut Milk and Cream’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

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