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The South Korea coconut milk products industry is expected to grow at a CAGR of 11.8% between 2023 and 2028. 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.
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.
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.
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.
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.
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.
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.
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.
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%.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Source||
|Breakup by Product Type||
|Breakup by Application||
|Breakup by Region||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Coconut Milk Products Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Coconut Milk Products Historical Market (2018-2022)
8.3 South Korea Coconut Milk Products Market Forecast (2023-2028)
9 South Korea Coconut Milk Products Market by Source
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 South Korea Coconut Milk Products Market by Product Type
10.1 Full Fat Coconut Milk
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Lite Coconut Milk (Low Fat)
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 Cream Of Coconut
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Coconut Milk Powder
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
11 South Korea Coconut Milk Products Market by Application
11.1 Processed Food
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Personal Care and Cosmetics
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 Functional Food and Dietary Supplements
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 Food Service
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Nestlé S.A.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13.2.2 Interactive Co., Ltd. (Vaco)
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13.2.3 Aim Global Co., Ltd (Nita)
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13.2.4 Thaitan Foods International Co,.Ltd.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13.2.5 Ampolfood Group
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Coconut Milk Products Market: Key Industry Highlights, 2018 and 2028
2. South Korea Coconut Milk Products Historical Market: Breakup by Source (USD Billion), 2018-2022
3. South Korea Coconut Milk Products Market Forecast: Breakup by Source (USD Billion), 2023-2028
4. South Korea Coconut Milk Products Historical Market: Breakup by Product Type (USD Billion), 2018-2022
5. South Korea Coconut Milk Products Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
6. South Korea Coconut Milk Products Historical Market: Breakup by Application (USD Billion), 2018-2022
7. South Korea Coconut Milk Products Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. South Korea Coconut Milk Products Market Structure
The coconut milk products market is projected to grow at a CAGR of 11.8% between 2023 and 2028.
High living standards, increasing disposable income, growing awareness of veganism and plant-based products are the major drivers of the South Korea coconut milk products market.
Health benefits and an increasing number of lactose intolerant population are the key trends of the South Korea coconut milk products industry.
The dominant product type of coconut milk products in the industry are full fat coconut milk, lite coconut milk (low fat), cream of coconut, and coconut milk powder, among others.
The major players in the industry are Nestlé S.A., Interactive Co., Ltd. (Vaco), Aim Global Co., Ltd (Nita), Thaitan Foods International Co,.Ltd., and Ampolfood Group, among others.
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