Coconut Milk Powder Market Size, Share & Industry Analysis, By Category (Organic and Conventional), By Application (Food & Beverages {Bakery, Confectionery, Dairy Alternatives, and Others}, Personal Care & Cosmetics, and Others), By Distribution Channel (Household Sector, Foodservice Sector, and Industrial Sector), and Regional Forecast, 2025-2032

The global coconut milk powder market size was valued at USD 1,065.46 million in 2024. The market is projected to grow from USD 1,152.99 million in 2025 to USD 2,599.31 million by 2032, exhibiting a growth at a CAGR of 12.31% during the forecast period. Asia Pacific dominated the coconut milk powder market with a market share of 52.83% in 2024.

A few of the key players in the global industry include Nestle S.A., Axelum Resources Corp., and S&P Industries Sdn Bhd, among others.

Coconut milk powder is a natural white powder produced by dehydrating coconut milk. Predominantly, it originated from Southeast Asian countries, where coconuts are abundant and utilized as a staple ingredient in dishes and drinks. However, its popularity has grown worldwide with a vast range of non-culinary and culinary applications. With respect to the household and food service sector, this ingredient can be used in preparing curries, cold beverages, salad dressings, and others. Along with this, it is utilized in creating beauty items such as hair masks, shampoo, and soaps, among others.

The surging vegan population and rising health consciousness are prime factors bolstering market growth.

Global Coconut Milk Powder Market Overview

Market Size & Forecast:

• 2024 Market Size: USD 1,065.46 million
• 2025 Market Size: USD 1,152.99 million
• 2032 Forecast Market Size: USD 2,599.31 million
• CAGR: 12.31% from 2025–2032

Market Share:

• Asia Pacific dominated the coconut milk powder market with a 52.83% share in 2024, driven by increasing coconut production, rising number of dine-out establishments, and a growing preference for vegan and plant-based diets across countries like Thailand, India, and the Philippines.

Key Country Highlights:

• Thailand: Leads the region with significant market share, fueled by culinary versatility and rising global popularity of Asian cuisine.
• United States: Demand driven by consumer preference for long shelf-life, convenience food, and a growing number of organic coconut-based product manufacturers.
• Germany: Health and wellness trends, strong preference for plant-based food, and flourishing personal care sector fuel market expansion.
• Brazil: Increased availability of conventional coconut powders and popularity of plant-based products support market growth.
• India: Rising lactose intolerance, increasing home cooking trends, and growing applications in both food and personal care sectors enhance market potential.

Coconut Milk Powder Market Trends

Surging Demand for Coconut-Based Functional Beverages is a Prominent Trend

In the global market, a trend of coconut-based functional beverages has been witnessed, fueling the sales of coconut powder. The majority of consumers are seeking functional drinks which align with their goals of a healthy lifestyle. This strong demand for functional beverages makes coconut powder an attractive option for individuals. Coconut-infused drinks are mostly fortified with probiotics, vitamins, and minerals, which benefit human health. Moreover, it has natural electrolytes, thus making it a famous choice for post-workout and hydration recovery. Asia Pacific witnessed a growth from USD 533.15 Million  in 2023 to USD 569.59 Million in 2024.

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MARKET DYNAMICS

Market Drivers

Surging Popularity of Asian Cuisine Augments Market Growth

The rising popularity of Asian cuisine is a remarkable factor triggering the intake of coconut milk powder. In recent years, Asian dishes have transformed from a niche market and have become more mainstream. This trend is witnessed due to the increasing younger consumer preferences and growing international cuisine trends. Owing to such trends, the demand for coconut milk, particularly in its powdered form, is also augmenting, as it is a core ingredient in desserts, stews, and others. Other than this, the trend of exploring new cuisines is another strong factor supporting the market’s growth. As individuals experiment with Asian flavors, they try to incorporate coconut milk-based powder into their culinary applications, resulting in high usage and consumption.

Market Restraints

Increasing Susceptibility to Diseases and Alteration in Climate Hinders Coconut Production

One of the biggest hurdles in the global market is the increasing susceptibility to numerous pests and diseases. The coconut palms are highly prone to diseases and pests, such as lethal yellowing caused by rhinoceros beetle pests and attack by coconut mites. If left unchecked, both the pest attack and diseases can hamper coconut plantations, further threatening the yield quality and health of the trees.

Another challenge faced by global producers is the adverse effect of climate change on coconut cultivation. Extreme weather events, erratic rainfall patterns, and fluctuating temperatures are the responsible factors hindering coconut production and, ultimately, its byproducts.

Market Opportunities

Emerging Use of Coconut Milk Powder in Beauty Items Creates Growth Opportunities

Coconut milk powder plays a tremendous role in the skincare industry, offering various growth opportunities globally. This powder is utilized in cleansers, lotions, and creams mainly due to its natural moisturizing properties. This beneficial ingredient makes it a suitable option for eczema-prone and sensitive skin. Moreover, this product provides anti-inflammatory properties, which can offer relief from redness and itching. Also, it is formulated to cure medical conditions such as psoriasis, dermatitis, and others. Along with this, coconut milk, which is lauric acid-enriched, has antifungal and antibacterial properties, thus making it an appropriate choice for skin infections.

SEGMENTATION ANALYSIS

By Category

Conventional Segment Dominated Market Owing to Its Wide Availability

On the basis of category, the market is segmented into organic and conventional.

Out of both, the conventional segment dominated the market and generated the highest share in 2024. Compared to organic, conventional powder provides several advantages, such as prolonged shelf life, health advantages, and convenience. Moreover, it is widely available and economical in comparison to organic, which makes it a preferred choice for consumers. As a result, such benefits fuel the conventional coconut milk powder market growth.

The organic sector emerged as the fastest-growing segment with a high CAGR. The growing lactose intolerance and surging use of organic powder in various food applications are shaping the segment’s potential.

By Application

Food & Beverage Segment Dominated Because of High Ingredient Usage

Based on application, the global market is distributed into food & beverage, personal care & cosmetics, and others.

Out of all, the food & beverage sector ranked first in the market and held a substantial market share in 2024. In comparison to other sectors, this powder is largely utilized for food purposes, ranging from smoothies and curries to baked goods. Moreover, owing to its dairy-free nature, this ingredient can be used in the preparation of lactose-free products such as yogurt, milk, and ice cream. As a result, such usage drives the global coconut milk powder market share.

Personal care & cosmetics is the fastest growing segment and is projected to maintain the same pace in the near term. In the skincare sector, this powder is used as a nourishing and moisturizing ingredient and aids in minimizing fine lines. Moreover, it helps in restoring damaged and dry hair and can be used in conditioners/hair masks.

By Distribution Channel

Foodservice Sector Leads Owing to Increasing Consumer Spending 

Depending on the distribution channel, the market is divided into household sector, foodservice sector, and industrial sector.

Amongst all, the foodservice sector dominated the market and held the highest share in 2024. The rising online food delivery platforms, growing consumer spending, and surging number of quick service restaurants are the crucial factors contributing to the segment’s growth. Moreover, the increasing trend of socializing with family/peers further bolsters the intake of milk powder-based Asian cuisines in the HoReCa sector.

The household sector is the fastest-growing segment in the global market and is projected to soar at the same pace in the coming years. The improved home cooking trend, the vast availability of powder at retail stores, and the rising demand for rich flavor and creamy texture of dishes strengthen the segment’s potential.

Coconut Milk Powder Market Regional Outlook

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

Asia Pacific

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Asia Pacific dominated the global marketplace and held the maximum share in 2024. This growth is attributed to the increasing coconut production and surging number of dine-out food establishments. Moreover, in recent years, the trend of veganism has considerably grown, and the majority of consumers are concentrating on adopting a plant-centric diet. This inclination toward a vegan diet drives the usage of coconut milk powder in food preparation. Along with this, the surging lactose intolerance, especially in Southeast Asian countries, further boosts the dependency on this ingredient.

Among all Asian countries, Thailand leads and holds a significant market share. The rising culinary versatility and increasing Asian cuisine trend encourage the market’s momentum. By witnessing such benefits, the global producers are focusing on innovation and are trying to incorporate powder in various culinary applications, which paves the way toward regional growth.

Europe

Europe is recognized as the fastest-growing segment globally and is expected to record a high CAGR during the forecast period. In this region, individuals are highly inclined toward health and wellness trends and are seeking safe food options. Owing to its potential health advantages and natural origin, the powder associates well with this trend. Moreover, compared to other regions, Europe is considered a prominent consumer of plant-sourced food products. This high preference for plant-based products propels the usage of coconut milk-extracted powder. Other than this, the flourishing personal care industry further supports the growth of powder.

North America

North America is considered the third leading region and is expected to maintain the same pace in the near term. Numerous factors, such as the increasing consumer preference for healthy lifestyles, surging sustainability concerns, and improved convenience, are propelling the region’s potential. In comparison to other developed/emerging regions, North American individuals are dependent on convenience food items that offer flavor along with health advantages. As a result, such reliance on packaged items encourages the demand for coconut milk powder-enriched bakery items, dairy products, and others.

Out of all the North American countries, the U.S. secured a foremost position in the region and generated the maximum share. The improved demand for long shelf-life products and rising organic coconut milk and its byproducts producers are anticipated to strengthen the region’s potential.

Rest of the World

The rest of the world is still at its nascent stage and is projected to soar at the same pace in the coming years. The growing availability of conventional powders and the surging popularity of plant-based items are expected to enhance the intake of ingredients.

COMPETITIVE LANDSCAPE

Key Industry Players

Key Players are Focusing on New Launches and Collaborations to Improve Brand Visibility

The prominent players in the global industry are Nestle S.A., Axelum Resources Corp., and S&P Industries Sdn Bhd., among others. All the enterprises are keenly working toward the area of collaboration, which aids in strengthening their market reach. Moreover, the firms are introducing new products in the global space, which helps to garner huge consumer traction and improve product sales.

List of Key Coconut Milk Powder Companies Profiled

• Nestle S.A. (Switzerland)
• Axelum Resources Corp. (Philippines)
• KAIRA ORGANIC WORLD (India)
• THE COCONUT COMPANY (U.K.)
• Tirumala Food Industries (India)
• Renuka Holdings PLC (Sri Lanka)
• Emma (Malaysia)
• S&P Industries Sdn Bhd (Malaysia)
• Unilever Food Solutions (India)
• Simabru Jaya Sdn Bhd (Malaysia)

KEY INDUSTRY DEVELOPMENTS

• March 2024: Thai Food Products International, a food ingredient developer in Thailand, announced its partnership with an online B2B business, “Food Farm Hub,” to introduce superior quality powdered beverage & food, additives, and ingredients globally. The firm’s portfolio includes coconut cream milk powder, freeze-dried durian powder, and others.
• August 2023: AXELUM Resource Corp., a Philippine-based producer and exporter of coconut products, released a new “Fiesta coconut milk powder,” packaged in retail pouches. This product can be used as an ingredient in dairy alternatives to traditional dairy products or in numerous dishes across the Philippines market.
• November 2022: Sternchemie, a German-based supplier of ingredients, introduced SternCream, a coconut-milk-based powder for use in vegan ice cream, pralines, and other applications. This ingredient can be easily purchased across the German market.
• July 2020: iTi Tropicals, Inc., an ingredient manufacturer in the U.S., revealed a vegan coconut milk powder that is free from stabilizers, additives, and other food starches. This powder is suitable for the production of muffins, pancake mixes, cake mixes, and others.
• September 2019: Nestle S.A., a Swiss-based consumer food products conglomerate, via its brand, Maggi, unveiled the news of celebrating World Coconut Day with Sri Lankan farmers. With the help of this event, the enterprise will be able to enhance its brand and product’s visibility worldwide.

REPORT COVERAGE

The global coconut milk powder market research report includes quantitative and qualitative insights into the market. It also offers a detailed market analysis of the market sizing and growth rate for all possible market segments. Key insights presented in the report include an overview of related markets, a competitive landscape, recent industry developments such as mergers & acquisitions, the regulatory environment in critical countries, and current market trends.

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Report Scope & Segmentation