Global Coconut Derivatives Market to Grow at a CAGR of 10.20% During 2024-2032, Aided by Growing End-Use Applications and Increased Awareness About the Health Benefits of Coconut Derivatives

The coconut derivatives market is driven by the rising awareness of the health benefits associated with coconut extracts, including improved bone health, antimicrobial effects, and diabetes control. Government initiatives, such as those by the Coconut Development Board of India, are promoting coconut cultivation and modern processing technologies, ensuring a steady supply of raw materials. Additionally, the introduction of innovative coconut products like Virgin Coconut Oil and Coconut Chips is attracting consumers.

Fig: Leading Coconut Producing Countries in Percentage in 2022

Coconut water's popularity is rising due to its health benefits, leading beverage companies to include it in healthy drink mixtures. Coconut oil is increasingly used in packaged foods and pharmaceuticals due to its health benefits and easy availability. Coconut milk is in demand as a lactose-free alternative, particularly among vegans, while desiccated coconut extends the shelf life of food preparations. In the food and beverages sector, coconut derivatives enhance the taste and flavour of various items like curries and bakery products. Coconut oil's dental health benefits and cosmetic applications further drive its demand. Overall, the extensive use of coconut derivatives in food, beverages, cosmetics, and pharmaceuticals is supporting its growth trajectory.

Further, growing focus on increasing coconut production is anticipated to support the raw material supply for coconut derivatives. For instance, in December 2023, the Federal Government of Nigeria announced to increase the coconut production to 500,000 Metric Tonnes by 2025 from 224,186 Metric Tonnes in 2023.

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Market Breakup by Type, Derivatives Product, End Use, and Region:

• The market is bifurcated based on type into mature and young.

• Based on derivative products, the market can be divided into coconut water, coconut oil, coconut milk, and desiccated coconut, among others.

• The market is segmented, based on end use, into food and beverages, cosmetics, and pharmaceuticals, among others.

• Region-wise, the global market for coconut derivatives can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Increased awareness about the health benefits of coconut derivatives, such as improved bone health and antimicrobial effects, is a significant driver of the market.

• Government initiatives, exemplified by the efforts of the Coconut Development Board of India and similar measures in Nigeria, play a crucial role in promoting coconut cultivation and ensuring a steady supply of raw materials.

• Coconut derivatives enhance the taste, texture, and nutritional profile of various products, driving their incorporation into a wide range of consumer goods.

• Further, growing end-use applications in industries like food and beverages, cosmetics, and pharmaceuticals, are supporting the market.

Key Offerings of the Report:

• The EMR report gives an overview of the global coconut derivatives market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, derivatives product, end use, and major regions of coconut derivatives.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global coconut derivatives market are Axelum Resources Corp., Jaka Investments Corporation, Celebes Coconut Corporation, PT. Global Coconut, and The Vita Coco Company, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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