Coconut Products Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global coconut products market was sized USD 30.38 Billion in 2018. The market is anticipated to witness a CAGR of 17.8% during the forecasted years, 2019 to 2025. The increase in awareness about health benefits associated with the consumption of such products coupled with the rising demand for the developed regions of North America and Europe is expected to drive the market during the forecast period.

The rise in the variety of coconut-derived products is expected to have a positive effect on market growth. The increase in the usage of products like oil and milk is expected to fuel the market growth in the upcoming years. The key players in the cosmetics and food & beverage industry have started investing in R&Ds to develop new products using coconut extracts.

The use of coconut oil enhances the growth of hair. Thus, its demand is on the rise for food & beverage as well as the personal care industry. The milk obtained from the coconut is also gaining acceptance across the vegan population. Other products obtained for its extracts such as sugar, coconut water, cookies, and chips are also gaining popularity, thereby boosting the market growth. Owing to the rise in the number of derived products, the market is expected to boost significantly in the upcoming years.

The popularity of coconut water as an energy drink is expected to increase continuously owing to its nutritional values and hydrating properties. Other derived products like sugar, coir, chips, and cookies are also gaining popularity across the globe. For example, coir is being used for the manufacturing of geotextiles owing to its excellent absorbent characteristics and higher durability.

The use of desiccated coconut for adding flavor and dressing of the dishes has been on the rise, for the past few years. The use of coconut vinegar to ferment coconut water is also on the rise. As this type of vinegar can act as a substitute to the synthetic one, it is being widely used for the preservation of sauces and pickles. Other benefits such as improving the quality of cooked meat and fish as well as boosting the digestion process are expected to boost the market demand for such products.

Product Insights

The segment of coconut oil accounted for the largest share of 75% across the global market. This growth can be attributed to its high saturated fat content which can burn the fats within the body and increase the energy level of the body. It also increases the good cholesterols across the human body which helps in reducing the risks of heart diseases. Moreover, its application on hair helps them to increase their strength and shiny appearance. Such products find applications in the personal care industry, owing to other properties like antibacterial, anti-inflammatory, and antioxidant.

This oil can also be used for massaging infants to strengthen their bones. It is being mixed with other fragrant oils to develop massage oil which acts as a stress reliever to the human body. But, due to higher fat content, this product is expected to face competitive loss owing to other substitutes like soy and almond oil.

The segment of coconut oil is expected to witness the highest CAGR of 20.3% during the years, 2019 to 2025. Its consumption is increasing continuously over European countries due to rising awareness about its health benefits and its nutritional value. As this water does not contain sugar and is rich in electrolytes, it is being preferred as an energy drink among sportsmen. The key players in this industry are focusing to provide attractive packaging to increase their sales across the developed regions of North America and Europe.

The segment of coconut milk and cream also find applications across various food items and bakery products. Coconut cookies and chips also find their applications and act as a healthy snack option among millennials. The use of desiccated coconut for dressing and toping on a variety of dishes is prevalent among consumers. The husk obtained from the coconut acts as a water absorber and therefore it is used in plantations to hydrate the soil. Thus, it becomes beneficial for plants. Owing to this variety of applications across the globe, the coconut products market is anticipated to boost at a significant growth rate during the forecasted years, 2019 to 2025.

Application Channel Insights

Food & beverages, as well as cosmetics, can be considered as the major application segments. In 2018, the cosmetics segment held the largest share of 65%. A variety of skincare and haircare products use coconut oil or milk as one of the major ingredients. Their antioxidant properties allow them to be used in anti-aging creams. The rising cosmetics market is expected to drive market growth for such products in the upcoming years.

Many countries especially in the Asia Pacific use these products for cooking and bakery preparations. They are becoming popular among the vegan population. However, due to higher fat content, the market growth is expected to witness a setback shortly.

Such products are also being used across the textile industry to produce geotextiles. The coir obtained from the coconut is being used for its production owing to its durable and antibacterial properties. Coconut oil also finds its application as a biofuel in the energy sector across the Middle East and African region.

Regional Insights

In 2018, the region of North America held the largest share of 28% in the global coconut products market. The U.S. is the major importer of these products across this region. Owing to its health benefits, these products find their application across products like energy drinks and smoothies.

The region of Europe is anticipated to witness the highest CAGR of 18.7% from 2019 to 2025 owing to an increase in the consumption of coconut milk and water. This milk is being used as an alternative to conventional dairy milk across various countries.

The regions of Asia Pacific and Central and South America also contribute to the consumption of such products. As a majority of the coconut plantations are found across countries like India, Brazil, Indonesia, Sri Lanka, and the Philippines these regions act as large exporters to the countries of Europe and North America.

Coconut Products Market Share Insights

The market for coconut products is competitive in nature. The key players in this market are PepsiCo, Vita Coco, Eco Biscuits, and Coca-Cola. These manufacturers have started investing more into R&Ds to develop new applications for their products to boost their sales.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global coconut products market report based on product, application, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Coconut Oil
    • Coconut Milk/ Cream
    • Coconut Water
    • Others

• Application Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Cosmetics
    • Food & Beverages
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • Netherlands
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa