Creamed Coconut Market Highlights 2022 – 2030
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.
Global Creamed Coconut Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the creamed coconut market includes the following segments:
By Distribution Channel
- Direct Sales
- Indirect Sales
By Source
- Organic
- Conventional
By End User
- Food & Beverages
- Cosmetics & Personal Care
- Household
- Others
Growth Drivers
- Innovations Associated with Creamed Coconut Products
- Rising Veganism Trend Worldwide
Challenges
- Imposition of Strict Bans on the Export of Coconut in Several Countries
- Disease Associated with Coconut Plantation
Top Featured Companies Dominating the Market
- Jaindi Exports (Pvt) Ltd
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- GloryBee
- Renuka Foods PLC
- Edward & Sons Trading Co.
- AB World Foods Limited
- Lucy Bee Beauty
- The Bart Ingredients Company Ltd
- Rapunzel Naturkost GmbH
- KTC Edibles
- Tropical Sun Foods™
