Coconut Water is fasted growing segment fueling growth of the Coconut Products Market

 

Coconut Products market

The global Coconut Products Market is estimated to be valued at US$ 7.32 Bn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

The coconut products market comprises products obtained from coconut including coconut water, coconut oil, coconut milk powder, and desiccated coconut. Coconut products have various health benefits as they aid in weight loss, improving heart health, and managing diabetes. They also help boost energy and hydrate the body effectively.

 

Market key trends:

One of the key trends in the coconut products market is the shift towards organic products. Consumers are increasingly preferring organic certified coconut products over conventional ones due to rising health awareness. Various companies are launching organic coconut products made from coconuts grown without the use of pesticides and chemical fertilizers. For instance, Nestle launched its organic coconut milk under the brand name Nature's Promise. The product is made from coconuts grown on family farms in Sri Lanka using organic practices. Furthermore, it is certified as organic by Quality Assurance International (QAI).

 

Segment Analysis

 

The global coconut products market is segmented on the basis of product type and application. By product type, the market is divided into coconut water, coconut oil, coconut milk, dried coconut products, and others. The coconut oil segment dominates the market and is expected to witness high growth over the forecast period. Coconut oil is widely used in cooking applications and also possesses various health benefits such as weight management and heart health. This is a key factor driving the growth of the coconut oil segment.

 

Key Takeaways

 

The Global Coconut Products Market Size is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing health consciousness among consumers and growing awareness about various health benefits of coconut products.

 

Regional analysis: Asia Pacific dominates the global coconut products market and is expected to continue its dominance over the forecast period. Countries such as India, Indonesia, Philippines, and Thailand are major producers of coconuts. Abundant availability of raw materials and growing domestic demand drive the market growth in the region.

 

Key players: Key players operating in the coconut products market are The Coconut Company (UK) Ltd., Marico Ltd., Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd. These players are focusing on new product launches and strategic partnerships to strengthen their market position.

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https://www.dailyprbulletin.com/coconut-products-market-size-share-growth-outlook-2023/

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