South Korea Coconut Products Market Outlook, 2029

The market for coconut milk products in South Korea is projected to expand .The public's growing inclination toward nutrient-dense, low-calorie plant-based foods and drinks as well as lactose intolerance are the main factors propelling the coconut market in South Korea. The flesh of mature coconuts is used to make the liquid known as coconut milk. Beyond its regular use in curries, soups, stews, and desserts, coconut milk is also a popular dairy alternative in baking and cooking. The milk is made by blending the coconut meat with water, and it is filtered to produce a smooth beverage. Cream and coconut oil can alternatively be prepared with milk. It's also a typical ingredient in non-dairy milk alternatives.

A high-protein diet that includes coconut milk may help minimize or manage levels of belly fat, weight gain, food consumption, cholesterol, and triglycerides. Coconuts contain phenols, which are antioxidants. Antioxidants can help the body fight against or eliminate free radicals, protecting it from disease. Coconut's phenolic content may protect the body's lipids, proteins, and DNA from damage caused by oxidative stress. Coconuts contain the lipid lauric acid. According to several researches, lauric acid seems to have antibacterial and anti-inflammatory properties, suggesting that it supports the immune system.

Studying the antibacterial qualities of lauric acid, found in coconuts, researchers found that it effectively prevents the growth of pneumonia, Mycobacterium tuberculosis, Streptococcus, and Staphylococcus aureus. Lauric acid causes apoptosis, or cell death, in breast and endometrial cancer cells, suggesting that it may inhibit the proliferation of cancer cells. But the amount of lauric acid that one is likely to consume from coconut milk is not high enough to suggest that it prevents cancer. Because of these health advantages, the market for coconut milk products is growing and drawing in more health-conscious customers in South Korea.

According to the research report 'South Korea Coconut Products Market Overview, 2029', the South Korea Coconut Product Market is projected to reach market size of more than USD 800 Million by 2029. A vegan diet and way of life significantly lessen reliance on animal products. A viable way to lessen our environmental impact is through veganism, especially in light of climate change. Furthermore, a well-thought-out vegan diet may promote the highest levels of fitness while reducing our risk of contracting certain chronic illnesses.

The market's growth is also being aided by rising disposable income, high standards of living, and greater consumer knowledge of healthy vegan choices. The prevalence of lactose intolerance among South Koreans is another significant element that drives up the demand for plant-based milk and boosts the market for coconut milk products in that country. Soups, smoothies, baked goods, milkshakes, iced coffee drinks, and whipped cream is just a few of the recipes that call for coconut milk. Canned coconut milk is similar to coconut cream since it is fattier and thicker than cow's milk. Coconut milk is necessary for both baking and morning cereals.

Products derived from coconut milk, like coconut cream and powder, are frequently utilized in the food and beverage industry in a range of baked goods and confections. Due to its prolonged shelf life and ease of container storage, coconut milk powder is becoming more and more popular. In South Korea, however, both well-known food and beverage franchises and individually owned cafes frequently employ both full-fat and low-fat coconut milk. The development of the market, however, may be hampered by the availability of other plant-based milks, such as almond and oat milk.

Based on product type market is divided into Coconut milk & cream, Coconut oil, Coconut water, coconut desiccated/flackes/shredded, other. Because of its emollient qualities, products made with coconut oil have become more popular in the personal care sector. Additionally, because of its mildly scented rich flavor, it has gained popularity as a fat substitute in a variety of culinary applications. Consequently, coconut oil held a larger value share in the worldwide market for coconut goods because of some of its primary attributes as well as the robust demand it received from the food and beverage and cosmetics industries.

Based on the form type of the market is divided into liquid, solid. The liquid category accounts for a sizeable portion of the market. Nonetheless, the solid category is anticipated to take a sizable portion due to the global rise in demand for healthy substitutes for traditional snack products - snacks made of coconut. Benefits like easier handling and a longer shelf life also contribute to the market expansion for solid coconut goods. Products made with coconut milk are frequently linked to a number of health advantages. Research suggests that consuming them can help prevent heart attacks and strokes, decrease blood pressure, cholesterol, and enhance renal health. The popularity of coconut milk products has been rising as a result of consumer preferences for vegetarian diets.

Based on the type of Application the market can be categorized by Food / beverages, Cosmetics, others. Cosmetic segment is dominating. The cosmetics sector uses a lot of coconut oil to make products for skin and hair care, including soaps and oils for the hair. Coconut oil is widely used by producers in food packaging, and it's also used by many customers to cook items like smoothies, fried dishes, and sweets.

The coconut oil market is expected to be driven by the enormous demand for the product in the cosmetics industry as well as by its growing popularity in culinary applications. Customers who are health-conscious and active now prefer natural energy drinks over those with added sugar and caffeine. Because coconut water contains nutrients and electrolytes, it is becoming more and more popular as a natural energy drink.

Based on type of Distribution Channel the market can be categorized by Hypermarket/supermarket, Conventional store, Specialty store, online retail. Hypermarket/Supermarket is leading. Supermarkets are easily accessible to a wide range of customers because they are typically located in suburban and metropolitan regions with plenty of parking facilities. Customers can buy complementing products like fruits, spices, and kitchenware in addition to coconut products, increasing sales by providing easy one-stop shopping. They frequently offer discounted bulk prices, drawing in budget-conscious customers and increasing the volume of sales of essential coconut products like milk and oil. Supermarkets appeal to customers looking for convenience and variety since they provide a wide range of coconut goods from different brands and price points under one roof.

Considered in this report:

• Geography: South Korea
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:

• South Korea Coconut Products market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:

• Coconut milk & cream
• Coconut oil
• Coconut water
• coconut desiccated /flackes /shredded
• Other

By Form:

• liquid
• solid

By Application:

• Food / beverages
• Cosmetics
• others

By Distribution Channel:

• Hypermarket/supermarket
• Conventional store
• Specialty store
• Online retail

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Coconut Products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.


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