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Coconut Products Market to Garner $ 30,587.53 Million by 2027 | 12.5 % CAGR - Global Analysis by The Insight Partners
Heath Benefits of Coconuts to Escalate Coconut Products Market at 12.5%CAGR during 2019–2027
NEW YORK, UNITED STATES, March 31, 2022 /EINPresswire.com/ -- According to our latest market study on “Global 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), and Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Retail, and Others); and Geography,” the 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 2019 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage- Details
Market Size Value in- US$ 10,627.83 Million in 2018
Market Size Value by- US$ 30,587.53 Million by 2027
Growth rate- CAGR of 12.5% from 2019-2027
Forecast Period- 2019-2027
Base Year- 2019
No. of Pages -298
No. Tables- 264
No. of Charts & Figures- 97
Historical data available- Yes
Segments covered- Type, Application, Distribution Channel, and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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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.
Coconut Products Market: Competitive Landscape and Key Developments
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.
Impact of COVID-19 Pandemic on Coconut Products Market
The COVID-19 pandemic has negatively impacted various industries due to lockdowns, travel bans, the shutdown of manufacturing units, and supply shortages. The food and beverage industry faced operational difficulties caused by disruption of supply chains, labor shortage, and shortage in raw material supply. Moreover, the prices of Coconut Products got significantly dropped as there was a decline in demand from various industries, such as food and beverage and personal care. This factor also affected the profitability of the market players and the farmers engaged in cultivating Coconut Products. Thus, the COVID-19 pandemic substantially affected the global Coconut Products market's growth. However, as the governments of various countries introduced relaxation in the restrictions and rising vaccination rates, the food and beverage industry is recovering from its losses. The demand for Coconut Products is projected to grow over the forecast period.
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Based on type, the coconut products market is bifurcated into coconut cream, coconut milk, coconut water, coconut sugar, coconut oil, coconut grated/shredded, coconut desiccated and others. The coconut oil segment accounted for a larger market share in 2019. Coconut oil is a colorless and tasteless product, which is extracted from the kernel of mature coconuts. Based on extraction, it is divided into two types, unrefined and refined or virgin coconut oil.
Based on application, the coconut products market is segmented into food, beverages, and end consumers. The food segment accounted for the largest market share in 2019. Coconut products are used in curries, confectionery, bakery, snacks, and many others. Increasing demand for healthier dairy substitutes is anticipated to raise the application of coconut products in food items. Coconut water, coconut oil, and coconut milk are heavily used in Asian and Thai culinary
.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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