Coconut milk is extracted from the white flesh of mature coconuts. Coconut milk is popular amongst the healthcare community and is considered an option for dairy milk. Consuming coconut milk is beneficial for the body. It contains medium-chain triglycerides, that are related to weight loss and also boost energy through the process of thermogenesis. Studies have shown that MCTs are effective in reducing waist size and losing body weight. They can also balance the gut microbe levels.
Coconuts comprise a lipid known as lauric acid and this lipid can bolster the immune system. The milk is enriched with minerals and vitamins and comprises saturated fats. The thicker coconut milk is used for making rich sauces and desserts while the thin version is used for cooking soups and curries.
On that note, the cooking coconut market size is anticipated to surpass USD 655 million by the end of 2026.
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Growing lactose-intolerant population to increase the demand for cooking coconut milk
There has been a significant rise in the number of people diagnosed with lactose intolerance across the world. It is caused by a genetic mutation in the LCT gene. About 65% of the adult population has lactose intolerance, which can lead int gastrointestinal problems and abdominal pain after the consumption of dairy products.
As per the NIH, lactose intolerance in adults is mainly common in East Asia population, with over 70% of the population diagnosed with the condition. This increased intolerance for lactose has prompted consumers to look out for dairy alternatives. Such a growing demand for lactose-free dairy products will bolster the production of cooking coconut milk.
Increased consumer awareness pertaining to the side effects of artificial additives in foods
Many food products consist of a wide range of artificial additives like high-fructose corn syrup, sodium benzoate, guar gum, monosodium glutamate, sodium nitrite, etc. These chemicals can be harmful to the human body.
For instance, substances like perfluoroalkyl chemicals can cause problems in the immune systems, fertility and the thyroid. On the other hand, artificial food colors cause ADHD in children. Such adverse side effects have led consumers in avoiding food products with artificial additives. This is the reason food & beverage companies are making sure that their food products contain ingredients from organic sources.
Coconut milk is obtained in an organic manner and has more health benefits than any artificial ingredients. These factors have resulted in the growing usage of organic cooking coconut milk.
Growing demand for coconut-derived products
Many countries like the Philippines, Indonesia, India and Malaysia have huge landmasses dedicated to coconut plantations. This is the reason these countries are primary suppliers of products derived from coconut across the world. In addition, changing consumer preferences have paved the way for organic products like coconut milk. These facets will surely boost the consumption of cooking coconut milk in Asia Pacific.
Highly competitive food & beverage industry
Many industry players are implementing strategic acquisitions and business expansion to solidify their position in the market. Citing an instance, McCormick & Co., in December 2020, successfully acquired FONA International LLC. This has allowed the company to gain access to FONA’s wide customer range. These business ventures will encourage the consumption of cooking coconut milk over the projected timeframe.
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