Organic Coconut Product Market Scope
The United States organic coconut product market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Increasing imports of coconut across the United States due to the growing production of coconut biproducts such as coconut milk, coconut oil, shampoo, and various beverages across the country is expected to be one of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ayam Sarl (Singapore), Eco Biscuits (Belgium), Marico (India), Nestlé S.A. (Switzerland), Palmo (India), PepsiCo (United States), Renuka Holding PLC (Sri Lanka), S&P Industries Sdn Bhd (Malaysia), Sambu Group (Singapore), Starheritage Products PVT Ltd (India) and The Coca-Cola Company (United States) |
CAGR | % |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the market. The recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that India, United States Vendors will contribute to the maximum growth of Global Organic Coconut Product market throughout the predicted period.
Ayam Sarl (Singapore), Eco Biscuits (Belgium), Marico (India), Nestlé S.A. (Switzerland), Palmo (India), PepsiCo (United States), Renuka Holding PLC (Sri Lanka), S&P Industries Sdn Bhd (Malaysia), Sambu Group (Singapore), Starheritage Products PVT Ltd (India) and The Coca-Cola Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are The Coconut Company (United Kingdom), Vihaan Direct Selling (India) Pvt. Ltd. (India), Vita Coco (United States) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Organic Coconut Product market by Type , by Application (Cosmetics, Food & Beverage, Medical & Healthcare and Others) and Region with country level break-up.
On the basis of geography, the market of Organic Coconut Product 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In September 2023, Kannadi Karshaka Kootayma launched three varieties of herb infused virgin coconut oil under the brand name kannadi.
In February 2020, QNET a brand of Vihaan Direct Selling (India) Pvt. Ltd. announced the launch of a new product 'Nutriplus Virgin Coconut Oil (VCO)' under its health and wellness product category which is cold-pressed, unrefined, pure, and naturally extracted from the fresh milk of high-quality organic coconuts of Kerala, India.
Stringent Government Regulations Regarding Shutting-Down of Different Industry's Operations Due to COVID-19 Pandemic Across the United States has Impacted the Organic Coconut Products Market in the FY 2020
Influencing Trend:
Increasing Adoption of Online Sales Channel
Market Growth Drivers:
Rising Coconut Imports Across the United Stats is Driving the Demand for Coconut Products Across the Country and Increasing Demand for Shampoo, Sports Drinks, and Synthetic Rubber Across the United States
Challenges:
Disrupted Supply Chain due to COVID-19 Pandemic Leading to Shortage of Supplies & Difficulties in Transportation which is Expected to be one of the Major Challenges for the Market
Restraints:
Fluctuations in Raw Materials Prices
Opportunities:
The Rising Health Awareness Among Consumers for Coconut Products Across the United States is Expected to Generate Huge Opportunities for Market Vendors During the Forecast Period
Analyst View
The coconut is imported across the United States throughout the year. Most of the coconut capacity is imported in the month of October to December. Some of the main sources of coconut for the United States are Puerto Rico, Cuba, Central America, and the Pacific Islands. Moreover, the rising coconut oil supply across the United States is another major factors driving the market for organic coconut products across United States. For instance, in 2018; 2019; 2020 the coconut oil supply across the United States was estimated to be around 477,000 MT; 590,000 MT; 561,000 MT respectively. In the FY 2020, the market has witnessed a slight decline in the supply of coconut products across the country due to disrupted supply chain, hampered production due to shortage of raw materials, and many other factors.
Key Target Audience
Manufacturers, Distributors/Traders/Wholesalers, Subcomponent Manufacturers, Industry Association and Downstream Vendors