by Coconut milk and cream have seen growing popularity in New Zealand as substitutes for dairy products due to rising veganism and health-consciousness. Coconut milk is a plant-based beverage produced by extracting and grinding the kernel or flesh of a mature coconut. It provides nutritional value from essential vitamins and minerals and is popularly used in beverages and foods like curries, soups, desserts, etc. Coconut cream on the other hand refers to the thick layer or extract separated from coconut milk and is used for cooking as well as in desserts and beverages.
New Zealand Coconut Milk and Cream Market is estimated to be valued at US$ 13.8 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the New Zealand Coconut Milk and Cream are Thaicoconut.,Tetra Pak International S.A.,KÅkiri Coconut Milk,Ceylon Kokonati,Savaii Popo. Key players are focusing on product innovation and introducing new flavors and formats such as creamers, single-serve cartons to appeal to the changing consumer preferences.
The growing vegan and flexitarian population and increasing cases of lactose intolerance offer significant growth opportunities for coconut milk and cream manufacturers. Market players are investing in marketing their products as dairy alternatives and healthy additions in diet and cuisine.
Countries in Europe and North America represent lucrative markets for expansion owing to high health awareness. Manufacturers are focusing on these regional markets through distribution partnerships and by establishing local manufacturing units.
Market Drivers
Rising lifestyle changes among consumers due to urbanization and hectic work schedules have increased the demand for ready-to-consume food and beverage products. Coconut milk and cream available in retail cartons or pouches cater to this demand well. They provide a healthy and convenient alternative to dairy milk especially for on-the-go consumption. This is a key factor fueling the growth of the New Zealand coconut milk and cream market.
PEST Analysis
Political: New Zealand government’s stringent quality standards and food safety regulations influence how coconut milk and cream products are imported, manufactured, and marketed in the country.
Economic: Factors such as rising disposable incomes, health and wellness trends, and growing demand for plant-based alternatives positively impact the demand for coconut milk and cream products in New Zealand.
Social: Social media influencers and health-conscious consumers driving demand for healthy and nutritious plant-based foods and beverages influence consumption patterns.
Technological: Automated equipment for processing and packaging coconut milk helps producers achieve higher productivity and efficiency while meeting the demand for packaged and convenient products. Blockchain technology can be leveraged to ensure supply chain traceability and transparency.
Geography Of Value Concentration
A significant portion of the total value of New Zealand’s coconut milk and cream market is concentrated in the North Island region, specifically urban centers like Auckland and Wellington. With the majority of the country’s population residing in the North Island, and supermarkets and retailers stocking various local and imported brands, this region accounts for over 60% of the total market value.
Fastest Growing Region
The South Island region, particularly Christchurch and surrounding areas, is projected to be the fastest growing region for New Zealand’s coconut milk and cream market during the forecast period. This can be attributed to growing health consciousness among consumers, rising influence of plant-based diets, and expanding availability of specialty products in supermarkets and health stores catering to diverse customer preferences.
What Are The Key Data Covered In This New Zealand Coconut Milk and Cream Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the New Zealand Coconut Milk and Cream’s growth between 2024 and 2031.
:- Accurate calculation of the size of the New Zealand Coconut Milk and Cream and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- New Zealand Coconut Milk and Cream Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of New Zealand Coconut Milk and Cream vendors
FAQ’s
Q.1 What are the main factors influencing the New Zealand Coconut Milk and Cream?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top New Zealand Coconut Milk and Cream companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the New Zealand Coconut Milk and Cream’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
