Creamed Coconut Market Segmentation by Distribution Channel (Direct Sales, and Indirect Sales); by Source (Organic, and Conventional); and by End User (Food & Beverages, Cosmetics & Personal Care, Household, and Others) - Global Demand Analysis & Opportunity Outlook 2030
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
September 29, 2020: Edward & Sons Trading Company expanded its distribution of coconut milk-based products, which are sold under its Native Forest brand, are now made available at a wider range of offline and online retailers.
The global creamed coconut market is anticipated to garner a sizeable revenue by recording a CAGR of ~7% throughout the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to factors such as the rising trend of veganism across the world, increasing number of innovations associated with creamed coconut-based products and growing product requirement in the cosmetics industry. For instance, it is evaluated that in 2018, more than 15% of the total food product lines were vegan. Approximately 2 million people in Britain alone identify themselves as vegan. In addition, escalating usage of creamed coconut for curing several diseases, including diabetes, arthritis and Alzheimer’s disease, is also expected to boost market growth in the forthcoming years. Furthermore, the demand for creamed coconut is rising as the people’s preference is shifting towards this product owing to many health benefits associated with it. The market for creamed coconut has seen a significant growth in the recent years as it is commonly used in the breakfast as a high-energy source food.
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The market is segmented by end user into food & beverages, cosmetics & personal care, household, and others, out of which, the cosmetics & personal care segment is anticipated to witness huge growth owing to the rising usage of coconut-related products in the industry. Additionally, creamed coconut is considered to be an essential ingredient for the preparation of deodorant agents, hair conditioners and body lotions, which in turn is projected to increase its demand in the cosmetics industry. Furthermore, creamed coconut is biodegradable and can be used as a substitute for the chemicals as a natural agent in the personal care products. This is another factor assessed to drive growth to the market segment during the forecast period.
On the basis of regional analysis, the global creamed coconut market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is anticipated to witness maximum market growth over the forecast period on the back of rising awareness regarding the benefits of creamed coconut as well as the increasing use of coconut products in the region. Apart from these, the consumers in Asia Pacific are expected to prefer the use of creamed coconut more readily, which in turn is estimated to drive the growth of the market in this region. In 2019, the largest volumes of coconuts were produced in Indonesia, Philippines and India. The production in each country was valued to be 17.12, 14.75 and 14.7 million tons respectively. Similarly, the Middle East & Africa region is also expected to witness notable market growth during the forecast period owing to the high dependence of the region on agriculture and related products for the growth of its economy.
The global creamed coconut market is further classified on the basis of region as follows:
Our in-depth analysis of the creamed coconut market includes the following segments:
Ans: The key growth drivers for the market are growing developments related to creamed coconut products and growing trend of veganism globally.
Ans: The key growth drivers for the market are growing developments related to creamed coconut products and growing trend of veganism globally.
Ans: Imposition of strict bans on the export of coconut in several countries and disease associated with coconut plantation are estimated to hamper the market growth.
Ans: Asia Pacific will provide more business growth opportunities on the back of increasing awareness regarding the benefits of creamed coconut in the region.
Ans: The key growth drivers for the market are growing developments related to creamed coconut products and growing trend of veganism globally.
Ans: The key growth drivers for the market are growing developments related to creamed coconut products and growing trend of veganism globally.
Ans: The market is segmented by distribution channel, source, end user, and by region.
Ans: The cosmetics & personal care segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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