The global coconut milk powder market is poised for robust growth over the next decade, with valuations projected to nearly double, from $ 224.2 million in 2025 to $ 409.9 million by 2032, driven by surging consumer demand for plant-based, dairy-free alternatives.
The forecast, released by Meticulous Research, anticipates a compound annual growth rate (CAGR) of 9% during the period, reflecting evolving global dietary trends and increased awareness of lactose intolerance.
Coconut milk powder has found a strong footing across multiple applications, ranging from food and beverages to personal care. Its long shelf life, convenience, and nutritional appeal are attracting manufacturers looking for versatile ingredients to meet rising demand for clean-label, vegan, and allergen-free products.
The segment’s expansion is closely tied to the global rise of veganism and health-conscious consumer behavior.
According to Meticulous Research, the growing popularity of coconut milk powder is further reinforced by the high prevalence of lactose intolerance, particularly in Asia and parts of Africa, where plant-based alternatives offer practical dietary solutions.
Asia-Pacific remains the dominant market region, bolstered by traditional coconut usage, abundant raw material supply, and strong domestic demand.
Countries like Indonesia, Thailand, and Sri Lanka play a leading role in global production, while North America is emerging as the fastest-growing region, spurred by rapidly expanding vegan demographics and a booming plant-based food industry.
Food applications currently account for the largest share of coconut milk powder usage, spanning bakery products, sauces, soups, and ready-to-eat meals.
However, beverages such as plant-based protein drinks and specialty coffees are gaining ground due to the ingredient’s solubility, flavour profile, and clean-label appeal.
Personal care products featuring coconut milk powder are also on the rise, particularly in the organic skincare segment.
While conventional coconut milk powder leads the market in volume due to cost advantages, the organic category is projected to grow the fastest, driven by consumer willingness to pay a premium for sustainably sourced, chemical-free products.