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Coconut milk powder is one of the earliest forms of cooking. It
was created by the Maasai tribe who lived in the Kalahari Desert. The tribe
discovered the health benefits of the unsweetened liquid from coconuts as early
as the nineteenth century. Since then, this natural sweetener has continued to
increase in popularity as well as availability. Today, there are many new
products introduced on the market to take advantage of the increasing demand
for this natural organic substance. Several companies have jumped on the
bandwagon to capitalize on the emerging demand for natural product.
Rising adoption of powdered forms as an economic alternative is
expected to drive growth of the global coconut milk powder market during the
forecast period. A powdered form of coconut milk offers an economic alternative
to regular coconut milk. Besides, the powdered form has increased the
shelf-life of coconut milk, thereby expanding its reach and use across the
globe. A canned or tetra pack of liquefied coconut milk after being opened
ranged somewhere around fewer than 10 days. On the contrary, the shelf life of
powdered form of coconut milk is over 30 days. Since these products are
processed using the evaporation process, it increases the shelf of these
products. Thus, these factors are expected to drive growth of the global coconut
milk powder market during the forecast period. Rising consumer awareness
regarding the benefits of coconut milk is expected to boost the global coconut
milk powder market growth over the forecast period.
However, high price of coconut milk powder is expected to restrain
growth of the global coconut milk powder market during the forecast period.
Among regions, Asia Pacific is expected to witness significant growth in the
global coconut milk powder market during the forecast period. This is owing to
rising demand from consumers across the region. Furthermore, Europe is expected
to register a robust growth rate over the forecast period. This is owing to
increasing demand for plant-based beverages and products with natural
ingredients across the region.
Key companies operating in the global coconut milk powder market
are Bramble Berry Inc., Nestlé Inc., King Arthur Flour Company, Inc.,
BareOrganics, Grace Foods Canada Inc., Dr. Ben Kim Natural Health Solutions,
HEALTHWORKS, KOS, iTi Tropicals Inc., and Anthony’s Goods.
For instance, in July 2020, iTi Tropicals Inc., a U.S.-based supplier of tropical fruit juice concentrates and purees, introduced a 100% vegan coconut milk powder, which is free from food starches, emulsifiers, stabilizers, and other additives.
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