About Coconut Foods
The increasing variety of coconut-derivatives coupled with their health benefits has positively affected the global Coconut Foods market. Rising application of major coconut-derivatives like oil and milk is anticipated to further fuel the overall market during the forecast period. Coconut is a versatile fruit with multiple health benefits. Products derived from coconut include coconut oil, coconut water, coconut milk, desiccated coconut, coir, and copra. Food and beverage, as well as cosmetic manufacturers, are investing in research and development to extract full benefits of the fruit to enhance their product offering.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 13.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that (Sri Lanka) Vendors will contribute the maximum growth to Global Coconut Foods market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
The Coconut Company (UK) Ltd. (United Kingdom), Marico Ltd. (India), Vita Coco (United States), QNET (Hong Kong), Goya Foods (United States), Sambu Group (Sri Lanka), Metshu exports (pvt) ltd (Sri Lanka, Cocomate (Sri Lanka), Klassic Coconut (Canada), Cocotana Coconut Products (Sri Lanka), Just Organik (India), Axelum Resources Corp. (United States), Universal Coco Indonesia ( INDONESIA) and Thai Coconut Public Company Limited. (Thailand) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Coconut Foods market by Type (Coconut Oil, Coconut Water, Coconut Milk/Cream, Desiccated Coconut and Other), Application (Cosmetics, Food & Beverage and Others) and Region.
On the basis of geography, the market of Coconut Foods has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Supermarket/Hypermarket will boost the Coconut Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Solid will boost the Coconut Foods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The demands for coconut water as a natural energy drink is growing rapidly and Huge demand for coconut oil in the cosmetics industry and an increase in its popularity in food applications
Market Growth Drivers:
The growing preference toward healthier dairy milk alternatives and naturalness is expected to increase the demand for coconut food products and High demand due to the growing innovations in the field, leading to enhanced product quality and enriching its dietary value
Challenges:
Large-scale coconut farming can raise concerns about deforestation and ethical labor practices
Restraints:
Changes in Government Policy and Rising Quality Standards of Markets and Competing Countries
Opportunities:
Increasing awareness regarding the benefits associated with the products coupled with growing demand from major developed countries
Market Leaders and their expansionary development strategies
In, October 2019 Axelum Resources Corp. had signed a new contract so as to supply organic coconut derivatives, especially coconut milk powder, to an international skincare products manufacturer.
In February 2020, QNET had launched a new product called Nutriplus Virgin Coconut Oil (VCO) under its health and wellness product category. and In February 2018, Just Organik, which is one of the leading brands that is selling organic products, had launched a new Organic Virgin Coconut Oil.
According to the Food Safety and Standards Authority of India, “Final notification on Food Safety and Standards (Food Products Standards and Food Additives) Second Amendment Regulations, 2019 related to the revision of existing standards of coconut milk and coconut cream”.
Key Target Audience
Service Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organizations, Research and Development (R&D) Companies, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.