How big is the Coconut Milk Market | Dynamics & Industry Drivers 2025

Q: What is the current size of the coconut milk market?

The coconut milk market was valued at USD 1.7 billion in 2024 and is projected to reach USD 3.1 billion by 2031.

Q: What is the growth rate of the coconut milk market?

The coconut milk market is expected to grow at a CAGR of 8.9% during the forecast period of 2025 to 2031.

Q: Which applications contribute the most in the coconut milk market?

Dairy alternatives, culinary recipes, smoothies, desserts, beverages, and packaged food products.

Q: What is driving demand in the coconut milk market?

Lactose-free diets, vegan lifestyle trends, functional benefits, and rising foodservice and retail demand.

Q: What challenges does the coconut milk market face?

Shelf stability, supply chain volatility, flavor standardization, and competition from other plant milks.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA5482

Publication Date: Jul 2025

How big is the Coconut Milk Market?

According to 6Wresearch internal database and industry insights, the Global coconut milk market was valued at approximately USDâ€¯1.7â€¯billion in 2024 and is projected to reach USDâ€¯3.1â€¯billion by 2031, growing at a CAGR of 8.9%.

This growth is fueled by rising lactose intolerance, growing vegan population, and increasing demand for plant-based dairy alternatives in cooking, beverages, and packaged foods.

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Key Growth Drivers of the Coconut Milk Market

Growing preference for plant-based and lactose-free dairy alternatives
Rising adoption of coconut milk in culinary and bakery applications
Health benefits such as good fats, vitamins, and natural hydration
Increased use in smoothies, coffee, desserts, and packaged RTD beverages
Surge in vegan, vegetarian, and flexitarian lifestyles globally

Coconut Milk Market Trends

The Coconut Milk Market is witnessing strong growth in organic, unsweetened, and fortified coconut milk varieties. Consumers are shifting toward clean-label, low-fat, and additive-free options. Foodservice sectors are increasingly using coconut milk as a dairy substitute in recipes. Shelf-stable cartons and canned coconut milk are widely adopted for both retail and commercial use. RTD beverages like coconut milk lattes and protein shakes are expanding the market’s reach among health-conscious consumers.

Emerging Developments in the Coconut Milk Market

The coconut milk base yogurt, ice cream, whipped topping has also been launched which has diversified the products in the dairy-free segment. The brands are paying attention to environmental sustainability in sourcing of coconuts, fair practices in employment, and environment friendly packaging. Higher processing technology is also being utilized in order to enhance creaminess and stability. Barista-grade coconut milk is being entered to cafes and restaurants using new and first-time private labels, startups, and networks. Market penetration is taking place at higher speeds due to e-commerce and the presence of health-specific grocery chain stores.