The global coconut products market is expected to witness significant growth in the forecast period of 2023-2030, according to a report by ResearchAndMarkets.com. The report provides in-depth analysis of the market’s growth potential, market size, and cumulative annual growth rate (CAGR%) for the forecast period, considering 2022 as the base year.
Global Coconut Products Market:Market Dynamics:
Coconut products are widely known for their numerous health benefits, including improved cardiovascular health, weight loss, and digestive health. Coconut water is known to have a cardio-protective effect, boost kidney health, aid in diabetes management, provide a rehydrating effect post-exercise, and maintain blood pressure levels. The increasing awareness of these benefits is driving the growth of the coconut products market.
The report also notes that the coconut oil segment is expected to witness significant growth, owing to various advantages associated with it. Coconut oil is widely used in food, toiletry, and industrial sectors, as it is saturated, stable, and biodegradable, and enhances the shelf life of products prepared using coconut oil. Moreover, refined coconut oil is used in the manufacturing of biscuits, chocolates, confectionery items, ice cream, pharmaceutical products, and paints.
Regional Outlook:
The report suggests that the Asia Pacific region is expected to hold a significant market share during the forecast period. This is owing to the substantial demand for coconut products from South Asian countries. The increasing lactose-intolerant population in the region increases the demand for coconut milk, as it is largely used as a substitute for milk, which contains lactose.
Market Segmentation:
The global coconut products market is segmented based on form, including solid and liquid, and based on products, including coconut powder, coconut water, coconut milk/cream, coconut oil, desiccated coconut, and others.
Company Profiles:
The report provides company profiles of key players in the global coconut products market, including The Coconut Company (UK) Ltd., Marico Ltd., Enature Organic Products, AYAM SARL, Nestle S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd. The company profiles are based on parameters such as company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
Conclusion:
The global coconut products market’s growth potential, market size, and future opportunities make it an attractive investment proposition for stakeholders in this industry, including investors, suppliers, customized tea packaging manufacturers, distributors, new entrants, and financial analysts. The report’s insights into market drivers, growth potential, and company profiles would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launches, technology up-gradation, market expansion, and marketing tactics.