Coconut Sales Market Size, Share, and Growth Analysis, By Type (Coconut Water, Coconut Milk, Coconut Oil, Coconut Snack, Coconut Desiccated, And Coconut Fiber), By Application (Food & Beverage, Cosmetic, Healthcare Products, And Textile), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Coconut Sales Market REPORT OVERVIEW

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The global coconut sales market size was USD 13520 million in 2021 and the market is projected to touch USD 29347 million by 2032 at a CAGR of 7.3% during the forecast period.

Coconut is a fruit that grows on the coconut palm tree and is widely cultivated in tropical regions worldwide. It has a hard, brown, fibrous outer shell or husk, and inside is white, fleshy meat with a slightly sweet taste. It can be eaten raw or used in cooking, and its milk and oil are popular ingredients in many recipes. The water inside a young green coconut is a refreshing drink and is also rich in electrolytes. It is known for its nutritional benefits and is high in fiber, vitamins, minerals, and healthy fats. It is also used in many beauty and skincare products due to its moisturizing properties.

It is a popular cooking oil and is also used in traditional medicine to treat various ailments. It is a key ingredient in many traditional dishes in Para, including moqueca, a fish stew made with coconut milk and dendê oil. It is a refreshing drink popular in Para and often served straight from the product itself. It is used in gluten-free baking in Para and is often mixed with manioc flour to make traditional dishes such as bijou.

COVID-19 Impact: Pandemic Had a Moderate Impact On Market Growth

The COVID-19 pandemic has had a mixed impact on the coconut market growth, with both positive and negative effects. On the positive side, the demand for coconut-based products such as oil, water, and milk of coconut has increased due to the growing awareness of their health benefits. Additionally, with people spending more time at home during lockdowns, there has been a rise in home cooking, which has led to an increased demand for coconut-based ingredients. On the negative side, the pandemic has disrupted global supply chains and caused logistic issues, which has affected the production and distribution of coconuts and its products. Travel restrictions and social distancing measures have also affected the availability of labor in some coconut-producing regions, leading to reduced harvests and higher production costs.

LATEST TRENDS

"Steady Adoption of a Flexitarian and Vegan Diets to Surge the Market Growth"

The rise in consumer knowledge of the advantages of plant-based diets for health is credited with the market expansion. Environmental difficulties, health awareness, ethical or religious convictions, environmental problems, and awareness of animal rights are the main factors influencing this gradual change toward a plant-based diet. Also, increased government measures and better animal welfare impact consumer adoption of vegan diets. These factors are estimated to spur the coconut market growth. For instance, the Indian government started the "#EatRightIndiacampaign" in 2020 and urged Indians to choose plant-based diets to live sustainably and combat climate change.

Coconut Sales Market Segmentation

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• By Type Analysis

By type, the market is segmented into coconut water, coconut milk, coconut oil, coconut snack, coconut desiccated, and coconut fiber.

• By Application Analysis

Based on application, the market is classified into food & beverage, cosmetic, healthcare products, and textile.

DRIVING FACTORS

"Growing Health Consciousness Among the Population to Boost Product Demand"

Coconut and its products are known for their numerous health benefits, such as being rich in fiber, vitamins, minerals, and healthy fats. This has led to an increase in demand for this products among health-conscious consumers. The rising popularity of plant-based diets: these products are widely used in plant-based diets as a dairy-free and vegan alternative to milk, cream, and butter. As the popularity of plant-based diets continues to grow, so does the demand for coconut-derived products.  Consumers are increasingly seeking out natural and organic products, and coconut products fit this trend due to their minimal processing and natural origin.

"Applications of Product in Various Industries to Prosper Growth in the Market"

Coconut oil and other coconut-derived products have gained popularity in the beauty and personal care industry due to their moisturizing and nourishing properties for the skin and hair. The globalization of trade and transportation has led to greater availability of its products in different regions of the world, contributing to the growth of the market. Government policies that support the cultivation and production of coconut have also contributed to the growth of the market, particularly in countries with a large coconut industry such as the Philippines, Indonesia, and India.

RESTRAINING FACTORS

"Rising Price of Coconut to Restrain Growth in the Market"

The prices of coconut have been increasing due to the limited supply of coconuts caused by natural disasters, the increasing demand for coconut products, and the high cost of inputs such as labor and fertilizers. These factors are anticipated to hamper the coconut market growth.

Coconut Sales Market REGIONAL INSIGHTS

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"North America to Dominate the Market Due to the Expansion of Cosmetics and Textile Industries"

North America and Asia hold about 68% of the coconut market share. North America is expected to hold about 41% of the market share owing to the growing demand for the product from cosmetics, textiles, and other industries.

Asia Pacific is likely to account for exponential growth due to the growing consumption of product from various industries. 

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis On the Development of Advanced Technology"

Key market players are focused on strengthening their presence by adopting advanced technologies. The competitors are adopting strategies to gain mergers and acquisitions in the global market. Major players of the market are emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

List of Market Players Profiled

• Pepsico (U.S.)
• Yeshu (India)
• Coca-Cola (Zico) (U.S.)
• KKP Industry (India)
• Viva Labs (Norway)
• Dutch Plantin (India)
• Theppadungporn Coconut (Thailand)
• COCO & CO (U.S.)
• Renuka Holdings PLC (India)
• Coconut Dream (Netherlands)
• Radha (India)
• Dangfoods (U.S.)
• Maverick Brands (U.S.)
• PT. Global Coconut (Indonesia)
• So Delicious (U.S.)
• Coconut Organics (India)
• Creative Snacks (U.S.)
• Eco Biscuits (Belgium)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2024 through 2032, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.