Demand For Coconut-Based Products Accelerates New Zealand Coconut Milk And Cream Market Trends

The New Zealand coconut milk and cream market has witnessed substantial growth in recent years owing to the growing popularity of plant-based beverages and dairy alternatives. Coconut milk offers several health advantages over dairy milk as it is cholesterol-free, rich in nutrients like vitamin C, E, B1, B3, B5, B6, and minerals such as potassium, manganese, selenium, magnesium, and phosphorus. It provides numerous benefits such as boosting metabolism, promoting heart health, and fighting free radicals. Coconut milk and cream are used as alternatives for dairy milk in recipes, beverages, coffee, soups, curries, and more.

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 of 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. Key players are focusing on product launches, mergers, acquisitions, and partnerships to strengthen their market position and expand their global footprint. For instance, in 2022, Thaicoconut launched coconut milk powders to cater to the growing demand from individuals looking for dairy-free options.

The global coconut milk and cream market is driven by a rising vegan population and consumer preference for plant-based alternatives. Food intolerance and allergies related to dairy products are further boosting the popularity of coconut milk and cream. According to data, over 30% of the global population is lactose intolerant. The market is expected to grow steadily due to the wide adoption of coconut milk as a dairy milk substitute.

The New Zealand coconut milk and cream market is witnessing strong growth opportunities across international markets. Leading players are expanding their reach in countries like the United States, United Kingdom, Germany, China, and India through partnerships with local retailers and online distribution channels. Asian countries especially represent major foreign markets due to the widespread use of coconut milk in regional cuisines.

Market Key Trends

The increasing popularity of plant-based beverages is a key trend driving the New Zealand coconut milk and cream market. Today’s health-conscious consumers are shifting towards non-dairy beverage options owing to perceived health benefits. Coconut milk provides a delicious dairy-free substitute for coffee, smoothies, and other plant-based recipes. Furthermore, the rising vegan population has created robust demand for coconut milk, fueling investments by market players in new product innovations, flavors, and packaging formats. The market is expected to continue growing at a steady pace over the forecast period as more individuals adopt flexitarian and vegan diets globally.

Porter’s Analysis

Threat of new entrants: Medium barriers to entry owing to high setup and production costs for new players.

Bargaining power of buyers: Moderate bargaining power due to presence of multiple buyers for coconut milk and cream in New Zealand.

Bargaining power of suppliers: Low bargaining power of suppliers due to availability of large number of coconut suppliers in New Zealand and neighboring regions.

Threat of new substitutes: Low threat from substitutes as coconut milk and cream offer unique taste and nutrition profile compared to alternatives.

Competitive rivalry: Intense competition among existing players to gain market share through product innovation, strong brand positioning, and competitive pricing.

Geographical Regions Of Concentration

North Island region dominates the New Zealand coconut milk and cream market in terms of value owing to higher population and consumption in cities of Auckland and Wellington. Accounting for around 60% value share, North Island serves as a major consumption hub.

Fastest Growing Region

South Island region is poised to witness fastest value CAGR during the forecast period aided by rising health consciousness and popularity of plant-based milk alternatives. Expanding retail infrastructure is also supporting market growth in South Island.

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