Dry Coconut Powder Market Report Overview
-
Request a Free Sample to learn more about this report
The global dry coconut powder market size was USD 843.59 million in 2021 and market is projected to touch USD 1733.5 million by 2031, at a CAGR of 7.47% from 2021 to 2031. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
When something is described as dry coconut powder, it means that the dry meat or kernel of the coconut has been minced and shredded into a fine powder. The endosperm of the coconuts and any remaining liquid is removed before being finely minced in a machine to create the dry coconut powder. The absence of black or yellow specks or any other discoloration on the interior of the coconut fruit indicates that it is the best coconut to be ground into powder. Coconut is full of rich nutrients and fiber; the bonus part is that it is also gluten-free. Dry coconut powder can be used in various baking and cooking projects. It can also be sprinkled on top of sweets and confectionery items to decorate them.
The spike in demand for various baking and cooking methods is fueling the expansion of the market for dried coconut powder. The enormous success of the culinary business has a direct impact on the market for dried coconut powder. For the last few years, the market has been growing with the rising number of vegan consumers due to the fact that chocolate bars, pudding, and cakes all employ dried coconut powder to enhance flavor and smell. The dry coconut-powder market and coconut-based products such as coconut milk have grown due to the coconut's gentle and light flavor. The numerous nutritional benefits resulting from the consumption of coconut and the prolonged shelf life are also a few of the factors responsible for the growth of the market for dry coconut powder.
COVID-19 Impact: Disruption Of Global Supply Chain Impeded Market Success
In 2020, the COVID-19 outbreak had a detrimental impact on the market for dry coconut powder. Due to the severely enforced lockdown that kept people indoors, the market for dry coconut powder experienced a standstill in manufacturing. A shortage of laborers and a shortage of raw materials for the production of dry coconut powder. The success of the dry coconut-powder market has decreased due to this and the numerous bakeries and cafes' inability to continue with their regular operations. In a similar vein, during the early period of the imposed lockdowns by the government, numerous marketplaces around the globe also experienced the negative consequences of the pandemic. Following the lifting of the lockdown, the demand for the dry coconut powder market is anticipated to increase yet again.
Latest Trends
"Nutritional Benefits Of Coconut To Facilitate Product Value "
It is anticipated that various nutritional advantages of coconut eating and the goods made from the same fruits will continue to propel the market for dry coconut powder. The coconut has a number of advantages, one of which is its capacity to raise good cholesterol levels and lower bad cholesterol levels in the body through the consumption of goods made from coconut. Additionally, as they are known technically, medium-chain triglycerides are a known source of beneficial fats in the coconut fruit. Due to the fact that it reduces hunger and boosts energy levels, including coconut in a diet on a daily basis is especially crucial for those attempting to lose weight.
Dry Coconut Powder Market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into pure and mixed. Pure segment in the market by type is anticipated to dominate during the aforementioned market years.
- By Application Analysis
Based on application, the market can be divided into beverages, savory & snacks, bakery & confectionery, and dairy & frozen products. Beverages segment is predicted to lead the market by application during the market years of 2021-2031.
Driving Factors
"Increasing Favor For Organic Foods And Veganism Augments Market Value "
The market's expansion has mostly been fueled by the quicker adoption of organic foods that contribute to numerous health benefits. The market value of the fruit is influenced by the characteristics of coconuts and the numerous health advantages they provide. The enormous rise of the market for dry coconut powder has also been attributed to the increased popularity of healthy eating habits and veganism.
"The Rise Of The Food Industry Drives Product Demand"
In the last few years, the popularity of various food enterprises has surged, and it is anticipated that this trend will continue during the projected period. The popularity of dry coconut powder on the market has been boosted by the addition of more recent breakthroughs in bakery goods and advancements in the field of cooking, including numerous coconut-based products. It is frequently used in sweet and savory meals for flavor and texture due to its sweet smell and somewhat pleasant taste.
Restraining Factors
"Substitute Fruits And Nuts Hampers Market Expansion"
The dry coconut powder market growth is being hampered by the available substitute nuts that mimic the same taste and texture as the dry coconut powder. The effects of climate and the existence of fresh coconuts in the area are also hindering the steady growth as people prefer fresh coconut in lieu of dry coconut powder. The texture and the provided result from dry macadamia nuts are also the same as dry coconut powder, which has slowed down the progress of the market.
Dry Coconut Powder Market Regional Insights
-
Request a Free Sample to learn more about this report
"North America Leads Market Due To Increased Health Threats"
The market value is increasing in the North American region due to the growing risk of cardiovascular diseases among the elderly and younger population. The area's market for dry coconut powder is primarily driven by the beneficial attributes of coconut and its capacity to level cholesterol.
The European region holds the second most dry coconut powder market shares. This is a result of baked sweets and desserts becoming more and more popular, as well as the use of coconut powder in confections and other goods of a similar nature. The region's burgeoning number of bakeries is mostly to credit for the market's acceleration.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Renuka (Sri Lanka)
- Qbb (Japan)
- Cocos (U.S.)
- Caribbean (Trinidad and Tobago)
- Fiesta (U.S.)
- Ayam (Singapore)
- Cocomi (Mexico)
- Thai-Choice (Thailand)
- Maggi (Switzerland)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 843.59 Million in 2021 |
Market Size Value By |
US$ 1733.5 Million by 2031 |
Growth Rate |
CAGR of 7.47% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global dry coconut powder market expected to touch by 2031?
The global dry coconut powder market is expected to touch USD 1733.5 million by 2031.
-
What CAGR is the dry coconut powder market expected to exhibit during 2021-2031?
The dry coconut powder market is expected to exhibit a CAGR of 7.47% over 2021-2031.
-
Which are the driving factors of the dry coconut powder market?
Increasing favor for organic foods, the adoption of veganism, and the rise of food industry are few of the driving factors of the dry coconut powder market.
-
Which are the top companies operating in the dry coconut powder market?
Some of the key market players in the industry are Renuka (Sri Lanka), Qbb (Japan), Cocos (U.S.), Caribbean (Trinidad and Tobago), and Fiesta (U.S.) are the top companies operating in the dry coconut powder market.
