Global Coconut Products Market Is Anticipated To Witness Growth Due To Rising Awareness Regarding Health Benefits

Coconut Products Market

Overview:

Coconut products are gaining popularity among health-conscious consumers. These products are available in a wide range of forms. They can be used in a variety of applications, including cooking, nutrition, and beauty. Coconuts are an excellent source of nutrients. They contain protein, fiber, and vitamins B and C. The substance also contains a variety of minerals. Coconut water has a hydrating effect and can be used in place of sugary beverages. It is also an excellent alternative for fruit juices. Coconut butter is an extremely versatile product. It can be used in a variety of applications, such as vegan butter replacements. Another popular coconut product is coconut flour. Unlike all-purpose flour, coconut flour is gluten-free.

Market Dynamics:

Increasing product launches is anticipated to propel growth of the global Coconut Products Market over the forecast period. For instance, Alpro, a dairy-free brand was launched by Danone in May 2022. The brand offers various products and coconut milk. Moreover, increasing fluctuations in coconut prices is estimated to hinder growth of the global coconut products market over the forecast period.

The Global Coconut Products Market Was Valued At US$ 5.7 Billion In 2018, And Is Expected To Register A CAGR Of 9.9% In Terms Of Revenue, Over The Forecast Period (2019 – 2027), To Reach US$ 13.14 Billion By 2027.

 

Impact of COVID-19:

The pandemic was first reported in 2019 and it was declared as a public health emergency in 2020 by the World Health Organization. Governments in many countries imposed strict lockdown measures for preventing the spread of the virus. Strict lockdowns were imposed in many countries along with social distancing, travel bans and quarantines. This affected the demand and supply of coconut products. As the agricultural sector was also affected due to these restrictions, there was shortage of manpower and supply chains were disturbed. This had a negative impact on the global Coconut Products Market. However, the demand for coconut products has been increasing due to increasing awareness regarding the health benefits of coconut products.

Key Takeaways:

The global coconut products market is anticipated to witness significant growth, exhibiting CAGR of XX% over the forecast period, owing to growing acquisitions by major players. For instance, PowerPlant Ventures, a growth-equity investor acquired ZICO coconut water from The Coca-Cola Company in February 2021.

North America is anticipated to witness significant growth in the global Coconut Products Market over the forecast period, due growing awareness regarding health amongst the population in the region.

Major players operating in the global coconut products market are Klassic Coconut, Sambu Group, Universal Coco Indonesia, Marico, PT. Pacific Eastern Coconut Utama., Cocotana, Vita Coco, Cocomate, and Danone. In addition to improving kidney health, coconut water also protects the heart, hydrates the body after exercise, helps control blood pressure, and manages diabetes

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