South Korea Coconut Milk Products Market Report and Forecast 2024-2032

South Korea Coconut Milk Products Market Outlook

The South Korea coconut milk products industry is expected to grow at a CAGR of 11.8% between 2024 and 2032. The growing preference for nutrient-rich and low in calorie plant-based food products and beverages, and lactose intolerance among the general public are majorly driving the South Korea coconut market.

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Key Trends in the South Korea Coconut Milk Products Market

The mature coconut's flesh is used to make coconut milk, a liquid. In addition to being used in curries, soups, stews, and sweets, coconut milk is frequently utilised as a dairy-free substitute in baking and cooking. The coconut meat and water are blended to produce the milk, which is then strained to create a smooth drink. Coconut oil and cream may also be made from milk. It is also a common component used to make non-dairy milk substitutes.

Health Benefits of Coconut Milk Boosts its Consumption

A high-protein diet with coconut milk may help lower or regulate levels of belly fat, weight growth, food intake, cholesterol, and triglycerides, according to some research findings. Antioxidants called phenols can be found in coconut. Antioxidants can aid in the body's defence against or removal of free radicals, so defending it against illness. The phenolic component of coconut may help shield the body's lipids, proteins, and DNA from oxidative stress-related damage.

Lauric acid is a lipid found in coconuts. Lauric acid appears to have antibacterial and anti-inflammatory characteristics, which indicate they help strengthen the immune system, according to some studies. Researchers examined the antibacterial properties of lauric acid, which is contained in coconuts, and discovered that it efficiently inhibits the development of pneumoniae, Mycobacterium TB, Streptococcus, and Staphylococcus aureus. In breast and endometrial cancer cells, lauric acid induces apoptosis, or cell death, indicating that it may slow the growth of cancer cells. However, the quantity of lauric acid that a person is likely to ingest in coconut milk is inadequate to declare that it prevents cancer. These health benefits aid in attracting health-conscious consumers, which helps in bolstering the development of the coconut milk products market in South Korea.

The growing Popularity of Veganism and Lactose Intolerance is Boosting the South Korea Coconut Milk products Market

A vegan diet and lifestyle drastically reduce the dependence on animal met. Veganism provides a sustainable method to reduce our environmental impact, particularly in light of climate change. And a well-planned vegan diet may support the greatest levels of fitness while lowering our chance of getting a number of chronic illnesses. Also, the growing consumer awareness regarding healthy vegan alternatives, along with high disposable income and high standards of living, are aiding the market's development. Another prominent factor is that lactose intolerance is quite common among the South Korean population, which increases the consumption of plant-based milk, thereby augmenting the coconut milk products market in South Korea.

Market Analysis

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Based on source, the South Korea coconut milk products market is segmented into organic and conventional. On the basis of product type, the South Korea coconut milk products market is divided into full fat coconut milk, lite coconut milk (low fat), cream of coconut, and coconut milk powder, among others. Based on application, the coconut milk products market of South Korea is bifurcated into processed food, personal care and cosmetics, functional food and dietary supplements, food service, and retail, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea coconut milk products market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Nestlé S.A.

• Interactive Co., Ltd. (Vaco)

• Aim Global Co., Ltd (Nita)

• Thaitan Foods International Co,.Ltd.

• Ampolfood Group

• Others

Market Share by Source

Guar gum, a widely used stabiliser, is frequently found in coconut milk. Brands that are organic include organic guar gum. It is used to stabilise coconut milk, resulting in a smooth and creamy end product. However, regular coconut milk is significantly more affordable than organic coconut milk, and it is a key driver of market expansion in this industry. The key market players now have a number of profitable options to develop and introduce new goods in order to generate profitable income in the upcoming years.

Market Share by Product Type

Coconut milk powder is gaining traction in the market as it is easy to store in a container and has a longer shelf life. On the other hand, full-fat and low-fat coconut milk are widely used in independently run cafes as well as renowned food and beverage chains in South Korea. However, the availability of other plant-based milk such as oat milk and almond milk, among others could pose a challenge to the market growth.

Market Share by Application

Coconut Milk can be used in various dishes including soups, smoothies, baked products, milkshakes, iced coffee drinks, and whipped cream, among others. Since canned coconut milk is both thicker and fattier than cow's milk, it is comparable to coconut cream. Cereals for breakfast or baking both need coconut milk. Products made from coconut milk, such as coconut milk powder and coconut cream, are widely used in the food and beverage sector in a variety of confections and baked goods.

In addition to this, coconut milk is used to make a variety of dishes, ice cream, drinks, and other foods and beverages. When applied topically to dry skin, coconut milk's high fat content can moisturise and act as a sealant to lock in hydration and moisture. The lipids in it smooth skin cells, make it simple to absorb, and keep the skin supple. Due to numerous applications in processed food, cosmetics and personal care, functional food, and dietary supplements, among others, the coconut milk product market will proliferate in the upcoming years.

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Competitive Landscape

Thaitan Foods International Co,.Ltd- 'Real Thai' is a trademark of Thaitan Foods International Co., Ltd., which specialises in producing and marketing traditional Thai cuisine items. Their goods include, among others, Thai seasonings, paste, ready-to-eat meals, sauces, fish sauces, soybeans, and mustard. The company is headquartered in Bangkok, Thailand.

Ampolfood Group- Ampol Food Processing Ltd is situated in Thailand. Bangkok's Special Governmental District serves as the headquarters. The company is involved in the fruit and vegetable canning business. It was founded in 1988. The firm declared in its financial overview that net sales revenue increased by 9.26% in 2021. Its total assets saw an increase of 3.97%. In 2021, Ampol Food Processing Ltd's net profit margin improved by 1.43%.

Key Highlights of the Report