The global coconut products market size is expected to reach USD 105.84 billion by 2025,
according to a new report by Grand View Research, Inc. It is anticipated to
expand at a CAGR of 17.8% during the forecast period. The market is expected to
witness significant growth due to rapidly rising consumption in countries from
Europe and North America. Various health benefits and applications of coconut
products are anticipated to further fuel the adoption.
Coconut oil accounted for the largest
market share owing to its various applications in cosmetics, food and
beverages, energy, and oil and gas among other industries. Moreover,
manufacturers are also focusing on finding innovative applications of this
product. The strictly vegan population prefers coconut milk as one of the
alternatives to dairy milk. However, due to a recent study conducted by a
Harvard epidemiologist, consumption of coconut oil can be harmful due its high
saturated fat content which can increase level of bad cholesterol in the body.
In addition to this study, increasing use of other oils like almond and soy is
expected to hinder the segment growth. Coconut water is the fastest growing
segment owing to the rising awareness regarding its benefits among major
European countries. Currently, the product is being used as a substitute to
energy drinks like Gatorade. Hence key market players are focusing on the
untapped potential benefits of the product to create growth opportunities.
Cosmetics industry was the largest consumer
of coconut products in 2018, owing to booming cosmetics market coupled with
consumer preference for organic and natural cosmetics. The segment is
anticipated to witness the fastest CAGR of 18.1% from 2019 to 2025. Food and
beverages industry from Asia Pacific and Central and South America is
anticipated to register significant consumption of coconut products. These
regions are the major producers of coconut and hence these products are
commonly included in daily use. However, due to the availability of many
alternatives such as almond oil, soy products, and rice milk among others, this
segment is anticipated to grow at a steady pace. Other applications of coconut
products are being explored in the textile industry as geo-textiles and in the
energy sector as biofuels.
North America held the highest market share
in terms of revenue in 2018, due to increasing consumer preference for
plant-based products. Europe is anticipated to showcase substantial growth in
light of increasing penetration of coconut water uses in this region. Changing
consumer preference fueled by high disposable income is another factor
propelling the regional market growth.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/coconut-products-market
https://www.grandviewresearch.com/industry-analysis/coconut-products-market
Further key findings from the report suggest:
·
In terms of revenue, coconut water is
projected to ascend at a CAGR of 20.4% over the forecast years
·
Oil segment led the coconut products market
due to various applications of the product in healthcare, personal care,
cosmetics, and food and beverages
·
China followed by U.S. and Netherlands were
the major importers of coconut oil in 2018
·
Major exporters of coconut and its products
are Indonesia, Philippines, India, and Brazil. Brazil was the major exporter
for the European countries till 2014. However, due to increasing demand,
Philippines also exports to European countries on a large scale.
Grand View Research has segmented the
global coconut products market on the basis of product, application, and
region:
Product Outlook (Revenue, USD Billion, 2015
- 2025)
·
Oil
·
Milk/Cream
·
Water
·
Others
Application Outlook (Revenue, USD Billion,
2015 - 2025)
·
Cosmetics
·
Food & Beverage
·
Others
Regional Outlook (Revenue, USD Billion,
2015 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
Netherlands
·
Asia Pacific
o
China
o
India
·
Central & South America
o
Brazil
- Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
