AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Growing awareness regarding the health benefits and applications of coconut products in a range of food & beverages, and personal care products among consumers in developed countries is likely to propel the demand for coconut products market.
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The market is expected to exhibit an incremental revenue opportunity of $19.7 billion from 2018 to 2026. The market growth is propelled by the rise in demand for coconut water as an energy drink. Active and health conscious consumers have shifted their preference toward natural alternatives to caffeinated and sugar-based energy drinks. Hence, the demand for coconut water as a natural energy drink is growing rapidly due to its nutritional properties such as electrolytes and nutrients, which is expected to drive the coconut products market growth.
Increase in use of coconut-based products in food and beverage applications is expected to drive the market for coconut products in the future. Coconut products are widely used as ingredients in variety of processed food products such as cookies, cakes, pies, soups, salads, milkshakes, and ice cream. With growth in consumption of processed food products, owing to the rise in urban population, the demand for coconut products is expected to grow at a significant rate in near future.
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The coconut products market is segmented on the basis of type, application, form, and region. Based on type, the coconut products market is categorized into coconut water, coconut oil, coconut milk, dried coconut products, and others. Coconut oil is widely used in cosmetics industry and is one of the prime products in hair care, thus is expected to influence the overall coconut products industry. The coconut oil segment was valued at $6.1 billion and is expected to grow with a CAGR of 5.6% from 2019 to 2026, to reach $9.4 billion by 2026. The coconut water segment is estimated to be the fastest growing segment, with a CAGR of 23.8% during the forecast period. The fastest growth of coconut water segment is attributed to growth in consumption of natural energy drinks and health concerns among the consumers.
The key players profiled in this report include The Coconut Company (UK) Ltd., Marico Ltd., Vita Coco, Sambu Group, Metshu exports (pvt) ltd, Cocomate, Klassic Coconut, Cocotana Coconut Products, Universal Coco Indonesia, and Thai Coconut Public Company Limited.
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