Coconut Products Market Revenue to Cross US$ 30,587.53 million by 2028

According to a new market research report "Coconut Products Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Coconut Cream, Coconut Milk, Coconut Water, Coconut Sugar, Coconut Oil, Coconut Grated/Shredded, Coconut Desiccated and Others); Application (Food, Beverage and End Consumers); Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Retail, and Others); and Geography" published by The Insight Partners, The coconut products market was valued at US$ 10,627.83 million in 2018 and is projected to reach US$ 30,587.53 million by 2027; it is expected to grow at a CAGR of 12.5% from 2020 to 2027.

A few players operating in the Coconut Products market are Marico, PepsiCo Inc., The Coca-Cola Company, The Coconut Company, Nexpo Conversion, Danone S.A., Nestle S.A., Sambu Group, THAI Agri Food Plc., and Thai Coconut Public Company Limited, among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

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Coconuts are highly nutritious as they are high on fibers; vitamins C, E, B1, B3, B5, and B6; and minerals such as sodium, iron, calcium, magnesium, phosphorous, and selenium. Coconut products, i.e., products extracted or derived from coconuts, improve cardiovascular health, promote blood sugar control, aid in weight loss, and boost brain function in Alzheimer's disease. Coconut water boosts kidney health, provides a cardio-protective effect, offers rehydrating effect post-exercise, aids in maintaining blood pressure levels, and aids in diabetes management.

The coconut products market in North America is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to higher consumer inclination toward a healthy foodstuff and ingredients such as coconut products. Consumers in countries such as the US, Canada, and Mexico have become more conscious regarding their diet and food intake. Also, surging demand for coconut products such as coconut milk, cream, and water in alcoholic drinks further bolsters the demand for coconut products in North America. The US is the primary market in the region, followed by Canada and Mexico. North America is positioned to be an attractive market for investments in coconut products as these products are highly utilized by food & beverages and food service industries.

The COVID-19 outbreak adversely affects economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Due to the global pandemic crisis and the indefinite lockdown across nations, the food & beverage industry witnessed high demand for household staples, healthy food items, and food products with longer shelf lives. Therefore, thedemand for national and shelf-stable coconut products such as coconut powder, coconut oil, coconut milk, and cream, among other products, is also increasing. Presently, major coconut producers in the market are faced with supply chain challenges and low consumption of their products. The major players are focusing on modifying and altering their supply chains in order to reinforce their online presence and delivery measures in an attempt to adapt to the present

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Coconut and coconut derivatives have become a major ingredient used in several food recipes and products. Products such as coconut oil, milk, flour, water, cream, and sugar; grated or shredded coconut; and desiccated coconut are extensively used in various food and beverages. In Asia countries, virgin coconut oil is extensively used as edible oil. Coconut oil is unique cooking oil as it contains short and medium-chain saturated fatty acids. It finds extensive use in the food industry due to its easy melting behavior, pleasing flavor, good digestibility, and oxidative rancidity resistance. It can also be used for margarine production. Coconut oil is a preferred fat source in infant milk powder, filled milk, ice-cream and confectionery, and bakery product preparations. Dehydrated coconut is mainly used in the confectionery and other food industries. Dehydrated coconut is also used as a substitute to grated coconut in various household food preparations.

Coconut milk is an instant product that can be used directly or diluted with water to prepare curries, sweets, desserts, fish and meat dishes, cookies, cocktails, puddings, cakes, ice creams, coconut jam, etc. The demand for coconut products has also increased in the production of convenience food products. Coconut biscuits are gaining high popularity in the ready-to-eat snack products category, and they mainly constitute all-purpose flour and coconut powder, along with other ingredients such as butter, cocoa, and ginger that enhance the taste.

The coconut biscuits have a shelf life of three months under ambient conditions. These biscuits are delicious and highly nutritious with low calorie and high fiber content and are highly popular in the US and in the countries in Asia Pacific, Europe, and Middle East and Africa. Also, coconut candy is another coconut-based product prepared from coconut milk mixed with grated coconut. It is a new snack product mainly produced in Asia Pacific countries. Coconut chocolates are prepared from the crux containing grated coconut sugar and milk butter, coated with chocolate. The product has a shelf life of three months under refrigerated conditions. It has extensive demand in Europe, Australia, North America, Middle East, and China.

Coconut Products Market- by Type
• Coconut Cream
• Coconut Milk
• Coconut Water
• Coconut Sugar
• Coconut Oil
• Coconut Grated/Shredded
• Coconut Desiccated
• Others

Coconut Products Market – by Application
• Food
• Beverage
• End Consumers

Coconut Products Market- by Distribution Channel
• Hypermarkets and Supermarkets
• Convenience Stores
• Online Retail
• Others

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This release was published on openPR.