Coconut oil, coconut water, coconut milk and dried coconut are commonly used for various food preparations across many cuisines. Coconuts provide valuable nutrients, antioxidants and are considered superfoods. The versatility and multi-functionality of coconut products have facilitated their use in cooking, personal care and other commercial applications.
The global coconut products market is estimated to be valued at US$ 8 Bn in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the coconut products market are The Coconut Company (UK) Ltd., Marico Ltd., Enature Organic Products, Ayam Sarl, Nestl; S.A., Renuka Foods PLC, S and P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd. These players are focusing on expanding their product portfolios and distribution networks globally.
The growing preference for healthy and natural food ingredients among consumers presents significant opportunities for players in the coconut products market. The market is witnessing increasing demand for coconut water, coconut oil and coconut flour.
Technological advancements have enabled larger scale production of value-added coconut products like coconut cream, yogurt, milk and butter. New product extraction methods help increase shelf life and aid in developing innovative offerings.
Market Drivers
The major driver for the Coconut Products Market Size is the rising health consciousness among consumers. Coconut products are considered superfoods due to presence of many essential nutrients, vitamins and minerals. Coconut water especially is becoming a popular choice due to hydrating properties and presence of electrolytes. Moreover, the organic and non-GMO attributes of coconut make its products appealing to health-focused consumers. The versatility of use across different end-use applications like food & beverages, personal care and others is also propelling the demand for coconut products globally.
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