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Global Coconut Derivatives Market Share, Trends, Growth, Analysis, Forecast: By Type: Mature, Young; By Derivatives Product: Coconut Water, Coconut Oil, Coconut Milk, Desiccated Coconut, Others; By End Use: Food and Beverages, Cosmetics, Others; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2023-2028
Global Coconut Derivatives Market Outlook
The global coconut derivatives market size reached a value of USD 12.5 billion in 2021. The market is further estimated to grow at a CAGR of 10.20% during 2023-2028 to reach a value of USD 22.39 billion in 2027.
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Awareness about the Health Benefits, Expanding Use in Food and Beverages Sector, Government Initiatives, and Introduction of New Coconut Products to be the Key Trends in the Coconut Derivatives Market
Coconut derivatives are obtained from meat, water, and fibrous husks of coconuts. The derivatives contain various nutrients, such as proteins, fats, carbohydrates, and antioxidants, including gallic acid, caffeic acid, and salicylic acid, among others.
- The rising awareness about the health benefits of coconut extracts, such as improved bone health, antimicrobial effects, antifungal properties, ability to control diabetes, and improved oral health, is leading to its increased consumption among the population.
- The expanding food and beverages sector and the growing incorporation of coconut meat or kernel in both savoury and sweet dishes owing to its firm texture and slightly sweet flavour are coconut derivatives market key trends.
- The governments of various countries are taking initiatives to expand the cultivation of coconuts and meet the growing demand for coconut derivatives. For instance, the Coconut Development Board established by the Government of India is taking several measures, such as offering technical advice to improve the yield of coconut, provision of financial assistance to expand coconut cultivation, and promoting modern technologies for processing coconut derivatives, among others. Such initiatives are resulting in the wide availability of raw materials for the increased production of coconut derivatives.
- The introduction of new and innovative coconut products that meet customer expectations is likely to favour the market growth. In May 2022, Fiji Coconut Millers Pte Limited launched superior quality coconut products, like Virgin Coconut Oil, Coconut Cooking Oil, and Fiji Coconut Water with extended shelf-life. The company is also planning to introduce Coconut Chips in order to attract a wider customer base.
Coconut Derivatives Market Analysis
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The market can be bifurcated based on type into mature and young. The various products considered in the market report are coconut water, coconut oil, coconut milk, and desiccated coconut, among others. The different end uses of the product are food and beverages, cosmetics, and pharmaceuticals, among others.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The comprehensive EMR report offers an extensive assessment of the market on the basis of Porter's five forces model, along with giving a SWOT analysis.
The report also gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Axelum Resources Corp.
- Jaka Investments Corporation
- Celebes Coconut Corporation
- PT. Global Coconut
- The Vita Coco Company, Inc.
- Others
Rising Consumption of Coconut Water to Aid the Coconut Derivatives Market
There is an increased demand for coconut water owing to its health benefits and increasing number of health-conscious consumers. The juice-based beverage companies are increasingly incorporating coconut water in healthy drink mixtures as it enhances the nutritional profile of the product. The efforts made by the leading coconut water brands in offering frozen coconut water with extended shelf life and their promotional efforts are leading to the increasing popularity of coconut water.
Coconut oil is increasingly used in the food sector for producing packaged food items and in the pharmaceutical sector, owing to its health benefits. The easy availability of coconut oil through supermarkets/hypermarkets, convenience stores, and online platforms at affordable costs is driving the coconut derivatives market growth.
Coconut milk is prepared by mixing coconut meat with water. The growing cases of lactose intolerance worldwide is leading to the increased consumption of coconut milk as an alternative, as it is lactose-free. The rising vegan population is also contributing to its growing utilisation in baking or preparing milkshakes.
Desiccated coconut is obtained from fresh matured coconuts and is dried to remove the moisture content in order to extend the shelf life and enhance the flavour of food. They are used as an alternative to freshly grated coconuts in food preparations and are available as toasted, sweetened, and toasted sweetened.
Extensive Use in the Food and Beverages Sector to Support the Coconut Derivatives Market Demand
Coconut milk enhances the taste and flavour of various food items, such as curries. Also, it is extensively used in bakery products like sweets, cakes, cookies, coconut jam, ice creams, and others. The rising inclination towards ready-to-eat snacks, such as coconut chips is aiding the market expansion. Moreover, the popularity of coconut oil is significantly increasing due to its high content of lauric acid, low meltability, pleasant flavour, and improved digestibility. It is also extensively used in deep frying processes.
The coconut derived products, such as coconut oil, improve dental health as swishing with coconut oil eliminates Streptococcus mutans bacteria in the mouth, thereby preventing dental plaque, tooth decay, and gum diseases. Also, coconut oil improves dermatitis, relieves arthritis, improves the brain, and helps fight infections.
Coconut oil is used in the cosmetic sector for producing natural lip balms and natural deodorants, products to heal ragged cuticles and remove eye makeup, and manufacture hair oils and moisturisers.
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Competitive Landscape of Coconut Derivatives Market
Axelum Resources Corp. is a producer of coconut products for food and beverage companies, confectioneries, bakeries, and personal care brands. The company delivers and exports desiccated coconut, coconut water, coconut milk, coconut oil, and others to 23 countries.
Jaka Investments Corporation includes Pacific Royal Basic Foods Inc., which is a manufacturer of desiccated and other high-quality coconut products. The company is committed to quality and maintains product quality through research and collaboration.
Celebes Coconut Corporation is an organic and fair-trade certified producer of coconut products. The company exports coconut flour, coconut milk, coconut water, coconut oil, desiccated coconut, coconut meat, and coconut water concentrate, among others.
Other coconut derivatives market players include PT. Global Coconut and The Vita Coco Company, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Derivatives Product |
|
| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Coconut Derivatives Market Analysis
8.1 Key Industry Highlights
8.2 Global Coconut Derivatives Historical Market (2018-2022)
8.3 Global Coconut Derivatives Market Forecast (2023-2028)
8.4 Global Coconut Derivatives Market by Type
8.4.1 Mature
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Young
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Coconut Derivatives Market by Derivatives Product
8.5.1 Coconut Water
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Coconut Oil
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Coconut Milk
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Desiccated Coconut
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Coconut Derivatives Market by End Use
8.6.1 Food and Beverages
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Cosmetics
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Pharmaceuticals
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Coconut Derivatives Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code- 1513)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Axelum Resources Corp.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Jaka Investments Corporation
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Celebes Coconut Corporation
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 PT. Global Coconut
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 The Vita Coco Company, Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Industry Events and Developments
List of Key Figures and Tables
1. Global Coconut Derivatives Market: Key Industry Highlights, 2018 and 2028
2. Global Coconut Derivatives Historical Market: Breakup by Type (USD MillionBillion), 2018-2022
3. Global Coconut Derivatives Market Forecast: Breakup by Type (USD MillionBillion), 2023-2028
4. Global Coconut Derivatives Historical Market: Breakup by Derivatives (USD MillionBillion), 2018-2022
5. Global Coconut Derivatives Market Forecast: Breakup by Derivatives (USD MillionBillion), 2023-2028
6. Global Coconut Derivatives Historical Market: Breakup by End Use (USD MillionBillion), 2018-2022
7. Global Coconut Derivatives Market Forecast: Breakup by End Use (USD MillionBillion), 2023-2028
8. Global Coconut Derivatives Historical Market: Breakup by Region (USD MillionBillion), 2018-2022
9. Global Coconut Derivatives Market Forecast: Breakup by Region (USD MillionBillion), 2023-2028
10. North America Coconut Derivatives Historical Market: Breakup by Country (USD MillionBillion), 2018-2022
11. North America Coconut Derivatives Market Forecast: Breakup by Country (USD MillionBillion), 2023-2028
12. Europe Coconut Derivatives Historical Market: Breakup by Country (USD MillionBillion), 2018-2022
13. Europe Coconut Derivatives Market Forecast: Breakup by Country (USD MillionBillion), 2023-2028
14. Asia Pacific Coconut Derivatives Historical Market: Breakup by Country (USD MillionBillion), 2018-2022
15. Asia Pacific Coconut Derivatives Market Forecast: Breakup by Country (USD MillionBillion), 2023-2028
16. Latin America Coconut Derivatives Historical Market: Breakup by Country (USD MillionBillion), 2018-2022
17. Latin America Coconut Derivatives Market Forecast: Breakup by Country (USD MillionBillion), 2023-2028
18. Middle East and Africa Coconut Derivatives Historical Market: Breakup by Country (USD MillionBillion), 2018-2022
19. Middle East and Africa Coconut Derivatives Market Forecast: Breakup by Country (USD MillionBillion), 2023-2028
20. Global Coconut Derivatives Market Structure
Key Questions Answered in the Report
In 2021, the market attained a value of nearly USD 12.5 billion.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach almost USD 22.39 billion by 2027.
The market drivers include increasing awareness about the health benefits of coconut and coconut-based products, expanding cultivation of coconuts, rising demand for coconut water, and easy availability through expanding distribution channels.
The key trends which are expected to positively influence the market growth include the expanding use in the food and beverages sector, government initiatives, and introduction of new coconut products.
The major types considered in the market are mature and young.
The various products derived from coconut are coconut water, coconut oil, coconut milk, and desiccated coconut, among others.
The different end uses are food and beverages, cosmetics, and pharmaceuticals, among others.
The market is assessed to grow at a CAGR of 10.20% between 2023 and 2028.
The major players in the market are Axelum Resources Corp., Jaka Investments Corporation, Celebes Coconut Corporation, PT. Global Coconut, and The Vita Coco Company, Inc., among others.
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