The global Coconut Products Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global coconut products market size is anticipated to reach USD 95.64 Billion by the year 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 17.8% over the forecasted period, 2019 to 2025. Rising awareness about the health benefits from the consumption of coconut and its products is expected to boost the market growth during the forecast period.
Key Players:
- Vita Coco
- Pepsico
- Coca-Cola (Zico)
- Eco Biscuits
- Dutch Plantin
- Coconut Dream
- Koh Coconut
- PECU
- UFC Coconut Water
- Taste Nirvana
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Growth Drivers:
The rise in the variety of coconut derived products is expected to have positive effect on the market growth. The increase in the usage of products like oil and milk is expected to fuel the market growth in the upcoming years. The key players in the cosmetics and food & beverage industry have started investing in the R&Ds to develop new products using the coconut extracts.
The use of coconut oil enhances the growth of hair. Thus, its demand is on the rise for food & beverage as well as the personal care industry. The milk obtained from the coconut is also gaining acceptance across the vegan population. Other products obtained for its extracts such as sugar, coconut water, cookies, and chips are also gaining popularity, thereby boosting the market growth. Owing to the rise in the number of derived products, the market is expected to boost significantly in the upcoming years.
The popularity of coconut water as an energy drink is expected to increase continuously owing to its nutritional values and hydrating properties. Other derived products like sugar, coir, chips, and cookies are also gaining popularity across the globe. For example, coir is being used for the manufacturing of geotextiles owing to its excellent absorbent characteristics and higher durability.
Product Outlook:
- Oil
- Milk/ Cream
- Water
Application Outlook:
- Cosmetics
- Food & Beverages
In 2018, the cosmetics segment held the largest share of 65%. A variety of skincare and haircare products use coconut oil or milk as one of the major ingredients. Their antioxidant properties allow them to be used in anti-aging creams. The rising cosmetics market is expected to drive market growth for such products in the upcoming years.
Many countries especially in the Asia Pacific use these products for cooking and bakery preparations. They are becoming popular among the vegan population. However, due to higher fat content, the market growth is expected to witness a setback shortly.
Regional Outlook:
In 2018, the region of North America held the largest share of 28% in the global coconut products market. The U.S. is the major importer of these products across this region. Owing to its health benefits, these products find their application across products like energy drinks and smoothies.
The region of Europe is anticipated to witness the highest CAGR of 18.7% from 2019 to 2025 owing to an increase in the consumption of coconut milk and water. This milk is being used as an alternative to conventional dairy milk across various countries.
The regions of Asia Pacific and Central and South America also contribute to the consumption of such products. As a majority of the coconut plantations are found across countries like India, Brazil, Indonesia, Sri Lanka, and the Philippines these regions act as large exporters to the countries of Europe and North America.
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