PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887017
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887017
The global coconut milk powder market is experiencing robust growth driven by rising health consciousness, the global shift toward plant-based diets, and the increasing popularity of Asian cuisine. According to the latest market assessment, the global coconut milk powder market size stood at USD 1,065.46 million in 2024, supported by rising coconut production and expanded applications in both food and non-food sectors. In 2025, the market is projected to reach USD 1,152.99 million, reflecting growing consumption across households, foodservice chains, and personal care industries. By 2032, the global market value is expected to rise significantly to USD 2,599.31 million, growing at a CAGR of 12.31% between 2025 and 2032.
In 2024, Asia Pacific held the largest market share of 52.83%, driven by strong coconut cultivation, deep-rooted culinary traditions, and a rapidly rising vegan population across countries such as Thailand, India, and the Philippines.
Market Drivers
Rising Popularity of Asian Cuisine Fuels Global Adoption
One of the strongest drivers of the global coconut milk powder market is the rising demand for Asian cuisine worldwide. Dishes from Thailand, India, Indonesia, and the Philippines have gained mainstream popularity, increasing the use of coconut milk powder in curries, soups, beverages, desserts, and sauces. The convenience and long shelf-life of powdered coconut milk make it a preferred choice for foodservice operators as well as home cooks. As consumers increasingly experiment with global flavors, the adoption of coconut-based ingredients continues to surge.
Growing Shift Toward Dairy-Free and Vegan Diets
The global surge in veganism and lactose intolerance is significantly boosting coconut milk powder consumption. The ingredient serves as a dairy alternative in products such as yogurt, ice cream, smoothies, and bakery preparations. In markets such as India and Europe, the rise in dairy-free and clean-label products directly supports the increased use of coconut-derived powders.
Market Restraints
Climate Change and Plant Diseases Impact Coconut Production
Coconut plantations across Asia Pacific face rising challenges due to pests such as rhinoceros beetles, coconut mites, and diseases like lethal yellowing. Additionally, climate change-marked by irregular rainfall patterns, extreme temperatures, and natural calamities-poses a threat to global coconut supply. These factors may lead to production shortage and fluctuations in raw material costs, which can hinder market stability.
Market Opportunities
Expanding Use in Beauty and Personal Care Products
Coconut milk powder is increasingly used in skincare and haircare products due to its natural moisturizing, anti-inflammatory, and antibacterial properties. From lotions and soaps to conditioners and face masks, the ingredient offers multiple benefits for dry and sensitive skin. Its rich lauric acid content helps treat eczema, dermatitis, and scalp conditions, expanding growth opportunities within the global beauty industry. As personal care brands push toward natural and plant-based formulations, coconut milk powder adoption is expected to accelerate.
By Category
The conventional segment dominated in 2024, supported by wide availability and affordability. Its strong shelf life and cost-effectiveness make it a favored ingredient across mass-market applications.
The organic segment is growing at the fastest pace due to rising consumer preference for chemical-free, clean-label, and sustainable food products.
By Application
The food & beverage segment held the largest share in 2024, as coconut milk powder is widely used in curries, baked items, smoothies, beverages, and dairy alternatives.
The personal care & cosmetics segment is projected to record the highest growth as natural beauty trends strengthen.
By Distribution Channel
The foodservice sector dominated in 2024, driven by rising quick-service restaurants, Asian dining trends, and increased appetite for coconut-flavored dishes.
The household sector is the fastest-growing, supported by home cooking trends and the availability of coconut milk powder in supermarkets and online channels.
Asia Pacific
The region led the global market with USD 569.59 million in 2024, supported by high coconut production and strong culinary demand. Thailand dominates the region due to its rich coconut-based cuisine and strong export capacity.
Europe
Europe is the fastest-growing region, with rising demand for plant-based foods and clean-label ingredients. The strong personal care industry further boosts coconut milk powder usage.
North America
North America ranked third in 2024, driven by demand for long shelf-life products, sustainability concerns, and rising adoption of organic coconut-based ingredients. The U.S. leads regional consumption.
Rest of the World
Growing availability of conventional coconut powders and rising interest in plant-based diets support future market expansion.
Conclusion
With a market size rising from USD 1,065.46 million in 2024 to USD 2,599.31 million by 2032, the global coconut milk powder market is poised for strong growth. The shift toward plant-based diets, rising culinary diversification, and expanding beauty applications make coconut milk powder one of the fastest-growing coconut-derived ingredients globally.
Segmentation By Category
By Application
By Distribution Channel
By Geography