Coconut is a versatile product and has multiple health benefits. Furthermore, products derived from coconut have multiple applications in food & beverage and cosmetics industries. The global coconut products market was valued at $11.5 billion in 2018 and is anticipated to reach $31.1 billion by 2026, with a CAGR of 13.6% during the forecast period. Increase in demand for coconut products such as coconut milk, coconut water, and desiccated coconut in the food & beverage industry is one of the major factors that drives the market globally.
Food & beverages and cosmetics product manufacturers have invested a lot in R&D to utilize coconut products to enhance characteristics, taste, or nutritional value of their products.
Consumers are actively focused toward fitness and health. Active and health conscious consumers have shifted their preference toward natural alternatives to caffeinated and sugar-based energy drinks.
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Hence, the demand for coconut water as a natural energy drink is growing rapidly due to its nutritional properties such as electrolytes and nutrients. Coconut oil is beneficial for hair and skin and hence, is widely used in range of cosmetic and personal care products such as hair oils and soaps. The rise in demand for coconut oil in the cosmetics industry is likely to drive the market for coconut products globally.
Coconut milk is widely used in cosmetic and food & beverage industries. It is also widely used as an effective alternative to dairy products. It has become increasingly popular, owing to its high nutrient content, which is beneficial for skin and hair and hence, is likely to experience high growth in the future. Desiccated coconut is used as a substitute for grated coconut in various food preparations like curries and baked food.
Products like copra, coconut chips, coconut squash, and coconut vinegar find application mainly in the food and beverage industry as a have gained popularity worldwide. Coir is widely used for making ropes, floor mats, brushes, doormats, and mattresses in Asian countries
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The coconut products market is segmented on the basis of type, application, form, and region. By type, it is categorized into coconut water, coconut oil, coconut milk, dried coconut products, and others. By application, it is divided into food, beverage, cosmetics, and others. By form, it is bifurcated into solid and liquid. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, the Netherlands, and Rest of Europe), Asia-Pacific (India, Indonesia, China, the Philippines, South Korea, Vietnam, Malaysia, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).
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.
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the global coconut products market, with current and future trends to elucidate the imminent investment pockets in the market.
• Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
• The report provides information regarding drivers, restraints, and opportunities with impact analysis.
• A quantitative analysis of the current market and estimation for the same from 2018 to 2026 is provided to showcase the financial competency of the market.
• Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as, threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
• Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
• Competitive intelligence highlights the business practices followed by the leading market players across various regions.
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KEY MARKET SEGMENTATION
• By Type
o Coconut Water
o Coconut Oil
o Coconut Milk
o Dried Coconut Products
• By Application
• By Form
• By Region
o North America
§ Rest of Europe
§ South Korea
§ Rest of Asia-Pacific
§ Latin America
§ Middle East