The Latin America, Middle East and Africa Coconut Milk Powder Market would witness market growth of 11.1% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 197.3 Tonnes, showcasing a growth of 9.2% (2024-2031).
In the beverage industry, this powder is gaining popularity as a versatile ingredient for creating various drinks. It can be easily mixed with water to produce a creamy coconut milk that can be used in smoothies, shakes, and cocktails, adding a tropical flavor and rich texture. Coconut milk powder is also a key component in non-dairy milk alternatives, appealing to consumers seeking plant-based options. Thus, the Brazil Market Consumed a volume of 16.17 Tonnes in 2023.
The Brazil market dominated the LAMEA Coconut Milk Powder Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,171.8 Thousands by 2031. The Argentina market is showcasing a CAGR of 11.8% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 10.1% during (2024 - 2031).
The clean label movement, emphasizing transparency and simplicity in ingredient lists, influences consumer purchasing decisions. This powder, often perceived as a natural ingredient, is increasingly included in clean-label products that align with consumer preferences for wholesome and recognizable ingredients.
The growth of e-commerce platforms has made it easier for consumers to access this powder, enabling them to purchase specialty products online. This trend is especially attractive to health-conscious individuals searching for specific dietary items that may not be easily found in physical retail stores. Additionally, online shopping offers the convenience of home delivery and the ability to compare products and prices, further enhancing the shopping experience.
The rising food service industry in the UAE significantly impacts the growth of this market. As the UAE continues to establish itself as a culinary hub, the demand for diverse and innovative ingredients in food preparation has surged. This powder, known for its versatility and health benefits, is increasingly being adopted by restaurants, cafes, and catering services across the region. The retail sector in Brazil has shown significant resilience and growth, which positively impacts various product markets, including this powder. According to the Brazilian government, retail trade sales increased by 1.0% in January 2024 compared to December 2023, demonstrating a consistent upward trend despite a slight dip from the previous month’s increase of 2.8%. This indicates a steady consumer demand, essential for driving sales of niche products like this powder. In conclusion, the thriving food service industry in the UAE and the resilient retail sector in Brazil are both driving significant growth in this market.
Free Valuable Insights: The Worldwide Coconut Milk Powder Market is Projected to reach USD 140.8 Million by 2031, at a CAGR of 9.7%
Based on Product, the market is segmented into Conventional, and Organic. Based on Application, the market is segmented into Food, and Beverages. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Product (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Million, 2020-2031)
By Country (Volume, Tonnes, USD Million, 2020-2031)
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