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. Additionally, increase in demand for coconut products such as coconut milk, coconut water, and desiccated coconut in the food & beverages industry is one of the major factors driving the market. Food and beverage manufacturers worldwide have invested heavily in research and development to utilize coconut products to enhance the characteristics, taste, or nutritional value of their products.
GROWING DEMAND FOR PRODUCTS PREPARED FROM ORGANIC COCONUTS – INFLUENCE THE COCONUT PRODUCTS MARKET GLOBALLY
The popularity of organic coconut products is increasing as health-conscious consumers are opting for natural, healthy, and safe food and cosmetic products. Organic coconuts are cultivated without the application of artificial fertilizers or harmful chemicals. In contrast, the farmers use organic growth stimulators in coconut cultivation. Use of chemicals and fertilizers in conventional farming mostly affects the nutrient levels of the crop. Consumers around the globe trust and perceive organic food to be healthy as they are concerned about the quality and origin of the ingredients that are used in the preparation of products. Currently, the demand for organic coconut products is high; organic coconut oil and milk are used in different nourishing beauty products. Rising inclination of people toward organic products has encouraged the food manufacturers to invest heavily in products produced with organic constituents. Various other organic coconut products such as organic coconut cream, milk, powder, chips, sugar, desiccated coconut, and coconut flour are currently available in the market.
There has been a consequent increase in consumer spending on organic food products in years. The consumers in developed and developing countries such as the US, Canada, Germany, France, Italy, the UK, China, India, Japan, and Australia are willing to pay higher prices for organic products, including organic coconut oil, coconut milk, coconut cream, and coconut water. Increasing disposable income, as well as willingness to spend heavy amounts on healthier food variants, has been fueling the demand for organic coconut products. Major companies operating in the coconut products market are focusing on launching organic products to target new consumers. For instance, in February 2020, QNET launched a new product called Nutriplus Virgin Coconut Oil (VCO) under its health and wellness product category. Likewise, in February 2018, Just Organik, one of the leading brands selling organic products, launched a new Organic Virgin Coconut Oil.