The ‘Global Coconut Derivatives Market Size, Share, Scope, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global coconut derivatives market, assessing the market on the basis of its segments like type, derivatives product, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 10.20%
Increasing awareness regarding the health benefits associated with the coconut derivatives including maintenance of bone health, antifungal properties, improved oral health, antimicrobial effects, and aid in diabetes management is increasing their consumption rate in the coconut derivatives market. Coconut water among other edibles has dominated the market owing to the increasing health consciousness among consumers.
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Initiatives by various beverage manufacturers and companies to incorporate coconut water into other healthy drinks to enhance the taste and nutritional value of the final product is also helping in the growth of the coconut derivatives market. Further, the increasing use of coconut derivatives in producing packaged food items and in the pharmaceutical industry because of its health benefits is increasing their demand by other manufacturers. Coconut milk enhances the flavour of various food products such as curries and is also used extensively in the bakery products such as coconut jam, sweets, ice cream, and cookies, among others.
Increasing use of coconut derivatives in other sectors such as dental and cosmetics is also contributing to the growth of the coconut derivatives market. Coconut oil is known for improving dental health and is thereby increasingly used in oil pulling as it helps in preventing dental plaque, gum diseases, and tooth decay, among other issues. The cosmetics sector uses coconut oil for manufacturing lip balms and deodorants, for removing eye makeup and for manufacturing moisturisers and hair oil as well.
Coconut Derivatives Industry Definition and Major Segments
Coconut derivatives refer to various substances obtained from coconuts which include coconut milk, coconut oil, desiccated coconut, and coconut water. They offer various benefits including skin texture enhancement, digestion improvement, weight management, and hair growth and nourishment. Coconuts have high manganese content which is helpful for bone health and also for the metabolism of proteins, cholesterol, and carbohydrates.
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Based on type, the market is bifurcated into:
On the basis of derivatives product, the market is classified into:
- Coconut Water
- Coconut Oil
- Coconut Milk
- Desiccated Coconut
Based on end use, the market is divided into:
- Food and Beverages
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Coconut Derivatives Market Trends
The key trends in the global coconut derivatives market include the development of innovative coconut products in order to meet the consumer demands which is expected to help in the overall market growth. Introduction of coconut chips is expected to attract more consumers that will thereby affect the market positively. Launch of premium quality coconut products such as coconut cooking oil, coconut water, and virgin coconut oil with extended shelf life are rising trends that are enhancing the growth of the overall market.
The food and beverages sector is expanding and increasing the use of coconut derivatives such as coconut kernels or meat in both sweet as well as savoury food in order to give it a firm texture and unique flavour. Growing consumer preference for coconut flavoured items are increasing the demand for such food dishes, thereby bolstering the coconut derivatives market.
Initiatives by the governments from all across the world to expand the coconut cultivation to fulfil the increasing demand for coconut derivatives is a major factor fuelling the market growth. For example, the government of India has established a Coconut Development Board with a goal to support coconut cultivation, productivity increase, and diversification of products.
Key Market Players
The major players in the global coconut derivatives market report are :
- Axelum Resources Corp.
- Jaka Investments Corporation
- Celebes Coconut Corporation
- PT. Global Coconut
- The Vita Coco Company, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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