Reduced Fat Coconut Milk: Market Outlook
Reduced fat coconut milk is witnessing rising application in the food and beverage industry due to its taste, nutritional value, and texture it adds to the product. Reduced Fat Coconut milk is made from mixing the grated meat of coconut due to which it has a thick and creamy consistency.
Reduced fat coconut milk usually contains fat levels less than 5-10% and is prepared with a slightly different procedure by consequently soaking and pressing coconut pulp in hot water for reducing the fat content.
Southeast Asia has been the prominent producer of reduced fat coconut milk as they produce and store it as a staple for multiple applications.
Countries like India, Japan, China has established consumer base with multiple application of reduced fat coconut milk that is expected to make significant growth in the global market.
Countries in Latin America have a large consumer base for reduced fat coconut milk as it is prominently used to make the beverage pina colada.
However, North America is one of the leading consumers of reduced fat coconut milk owing to the health benefits and is expected to drive the market in the forecast period.
European countries have started recognizing the benefits of reduced fat coconut milk as it has a superior nutritional profile along with less fat content that helps them maintain the desired weight.
According to FACT.MR analysis, reduced-fat coconut milk is produced in regions with tropical climates, for instance, South East Asia and Latin America, and is further processed and packed to be export to North America and Europe.
Increasing Vegan Population to Bolster the Market
Reduced fat coconut milk is rich in several electrolytes due to which helps it reduces fatigue after a workout, and thus is anticipated to have high demand among athletes and gym-goers.
As reduced fat coconut milk contains various essential elements such as manganese and copper which boosts heart health and nourishes muscle post-workout, it has great potential to grow in the global market.
Coconut milk has similar properties as milk and does not contain any amount of lactose due to which it can be easily consumed by the lactose intolerant population. According to studies, around 65% of the population have lost the ability to digest lactose due to which reduced fat coconut milk has a high large opportunity to grow.
Another rapidly growing segment of the population is vegan and flexitarian. Reduced fat coconut milk is a great alternative to animal-based milk with a superior nutritional profile and taste.
Bakers and confectioners are making great use of reduced fat coconut milk in cakes and patisseries to be consumed by the vegan population. With increasing awareness application of reduced fat coconut milk is expected to rise further.
Reduced fat coconut milk has increasing end-use with the rising vegan population. Due to the innate texture and taste of reduced fat coconut milk, it is seldom used as a thickening agent in many traditional as well as exotic dishes.
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Traditional and Novel Application of Reduced Fat Coconut Milk Enhancing Market Presence
Reduced fat coconut milk is used in a large number of traditional dishes of Asian as well as Latin American countries. Reduced fat coconut milk is significantly used to make Thai curries and dishes for instance coconut cream corn, tofu satay in coconut sauce, coconut pancake, coconut crème Brulee, and many more.
Besides food, reduced fat coconut milk is prominently used to make beverages and cocktails, for instance, Cendol, batida de coco, coquito, pina colada, and many more.
Reduced fat coconut milk is often used to make healthy smoothies and with cereals. Consumers with lactose intolerance or casein allergy are amicable including the reduced fat coconut milk in the diet.
In July 2020, prime coffee chain Starbucks to include vegan coffee and beverages to be included in menus made from almond and coconut milk.
Reduced fat coconut milk has a large opportunity in this segment of the market as a considerable portion of the consumer base is health-conscious and will readily move towards reduced fat coconut milk as an alternate.
Reduced Fat Coconut Milk: Key Players
Some of the key players in the global Reduced Fat Coconut Milk market are
- Goya Foods Inc.
- Edward & Sons Trading Company
- Marks and Spencer plc
- Gaya Foods
- Vita Coco
- Thai Agri Food
- Celebes Coconut Corp.
- Danone SA
- ThaiCoconut Public Company
- Whitewave Foods
- Pacific Food.
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Effective Supple Chain and Production Process to Open New Opportunities for Manufacturers
Manufacturers of reduced fat coconut milk are refraining from the addition of any kind of thickeners, stabilizers, or gum to moderate the consistency of the milk. They are investing in developing a methodology to naturally regulate the taste, texture, and overall quality of reduced fat coconut milk.
Manufacturers are also promoting consumption of reduced fat coconut milk by putting out different appetizing recipes to be used as an ingredient such as mango coconut pudding, coco-mocha martini, Tembleque Ecuadorian Shrimp with coconut sauce, and many more.
For better reach in the local market, manufacturers of reducing fat coconut milk are strategizing for strengthening the distribution channel.
Having a robust distribution channel in place is very crucial as fresh reduced fat coconut milk is best for consumption and delay in any stage of the supply chain may affect the quality.
Partnering with retailers is also a trend that manufacturers are following to enhance market penetration. For instance, Tesco, a grocery distribution platform has partnered with a small manufacturer of reduced fat coconut milk and is distributing it under their brand name and packaging.
Similarly, established players are promoting reduce fat coconut milk on online retail platforms such as Amazon for better market reach.
Manufacturers for instance ThaiCoconut Public Company have developed different packaging facilities so as to suit consumer’s requirement. Different packaging used for reduced fat coconut milk are UHT, aseptic, and pasteurized. All these types have a different shelf life with the optimum environment provided and consist of different reduced fat levels.
Manufacturers to Produce Cruelty-free Reduced Fat Coconut Milk
Reduced fat coconut milk is vegan but some of the manufacturers in Thailand are involved in forcing monkeys to pick coconuts as they were caged and chained for the same. In early 2020, PETA identified these activities and had to face a mass boycott.
In late 2020, prime retail chain, Target dropped these brands and showcase brands for instance Ape Snacks, Chef’s Choice, DREAM Coconut Milk, and many more as monkey-friendly.
More than 15,000 stores have banned the distribution of coconut milk that is produced by using the monkey as slaves and further looking for a guarantee to be a cruelty-free brand.
Manufacturers of reduced fat coconut milk are thus now striving to label their product as cruelty-free to indicate cruel methods were involved in the production process.
The Reduced Fat Coconut Milk market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the Reduced Fat Coconut Milk market, including but not limited to: regional markets, nature, packaging, end-use, and distribution channel.
An Adaptive Approach to Modern-day Research Needs
The Report Covers Exhaustive Analysis on:
- Reduced Fat Coconut Milk market segment
- Reduced Fat Coconut Milk market dynamics
- Reduced Fat Coconut Milk market size
- Reduced Fat Coconut Milk supply and demand
- Current trends/issues/challenges pertaining to Reduced Fat Coconut Milk market
- Competition landscape and emerging market participants in Reduced Fat Coconut Milk market
- Technology related to production/processing of Reduced Fat Coconut Milk
- Value chain analysis of the Reduced Fat Coconut Milk market
Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, U.K., France, Italy, Spain, BENELUX, Poland, Russia, Nordic, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
The Reduced Fat Coconut Milk market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the Reduced Fat Coconut Milk market report projects the attractiveness of each major segment over the forecast period.
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Highlights of the Reduced Fat Coconut Milk Market Report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the Reduced Fat Coconut Milk market
- Recommendations to companies for strengthening their foothold in the Reduced Fat Coconut Milk market
Reduced Fat Coconut Milk: Market Segmentation
Based on Nature, Reduced Fat Coconut Milk Market can be segmented as:
Based on Packaging, Reduced Fat Coconut Milk Market can be segmented as:
- Tetra Pack
- Tin Can
Based on End Use, Reduced Fat Coconut Milk Market can be segmented as:
Based on Distribution Channel, Reduced Fat Coconut Milk Market can be segmented as:
- Specialty Stores
- Wholesale Stores
- Mass Grocery Stores
- Online Retail
Note: Although care has been taken to maintain the highest levels of accuracy in FACT.MR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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