Moreover, key benefits including an increase in good HDL cholesterol in the body, efficient weight management, and protection from cardiovascular diseases will fuel the industry size.Ĭoconut milk is commonly used as an alternative to dairy milk owing to its creamy texture with a relatively high amount of saturated fat content. Factors such as widescale availability, easy processing, compatibility, and lower cost are among the key factors primarily driving product usage. Coconut milk is the dominating source, accounting for over 30% share of the non-dairy ice cream market in 2019. Non-Dairy ice cream market is bifurcated based on source as coconut milk, almond milk, cashew milk soy milk, and others. Positive application scope of coconut milk in improving metabolism, blood pressure and cholesterol levels to boost overall market share However, expansion of distribution channel by multinational corporations coupled with an upsurge in plant milk production will fuel market demand. Market profitability may get affected due to higher product prices as compared to counterparts and fluctuation in raw material prices. For instance, product branding as sugar-free and low-fat variant to meet diabetic & health-conscious consumers is anticipated to propel the industry demand.Ĭompanies invest in product innovations to purify, improvise, and evaluate their products through technological upgradations for taste improvements to comply with taste of dairy counterparts. Moreover, growing consumer-specific marketing strategies focusing on health benefits will stimulate the product scope. Stringent regulations for improving the food quality & safety coupled with consumer-driven movements, such as ‘clean label’, are positively influencing the adoption of both organic & natural products.
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