Report : Coconut Products Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Coconut Cream, Coconut Milk, Coconut Water, Coconut Sugar, Coconut Oil, Coconut Grated/Shredded, Coconut Desiccated and Others); Application (Food, Beverage and End Consumers); Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Retail, and Others); and Geography
Heath Benefits of Coconuts to Escalate Coconut ProductsMarket at 12.5%CAGR during 2019–2027
According to our latest market study on “Global Coconut Products Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Coconut Cream, Coconut Milk, Coconut Water, Coconut Sugar, Coconut Oil, Coconut Grated/Shredded, Coconut Desiccated, and Others), Application (Food, Beverage, and End Consumers), and Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Retail, and Others); and Geography,”the market was valued at US$ 10,627.83 million in 2018 and is projected to reach US$ 30,587.53 million by 2027; it is expected to grow at a CAGR of 12.5% from 2019 to 2027.The report highlightskey factors driving the market growth and prominent players along with their developmentsin the market.
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. Consumers in developed countries are focused on fitness and health. Active and health-conscious consumers have shifted their preference toward natural alternatives to caffeinated and sugar-based energy drinks. Thus, the demand for coconut water as a natural energy drink is growing rapidly due to its nutritional properties, such as electrolytes and nutrients. Therefore, increasing health awareness, coupled with the advantages of coconut products, is driving the growth of the global coconut products market.
Coconut products are perceived to be among the healthiest ingredients used in bakery and confectionery, beverages, dairy and frozen desserts, and sweet and savory snacks. Coconut products contain high quantities of saturated fats that are harmless to the human body. Coconut contains medium-chain triglycerides, which are medium-length fatty acids. These fatty acids are absorbed differently by the human body and are directly sent to the liver from digestive tract, where they are converted into ketone bodies. These metabolites have therapeutic effects on brain disorders such as Alzheimer’s disease and epilepsy. Coconut is a rich source of dietary fiber that helps in slow digestion and improves insulin resistance, which further helps in regulating blood sugar levels. The dietary fibers in coconut slow down the release of glucose in the body and transport it to cells for energy conversion processes. This action assists in relieving stress on the enzyme systems and pancreas, which reduces the risk of developing diabetes. Additionally, coconut contains protein, minerals, and B vitamins, in small amounts. Coconuts are the rich source of manganese, which is essential for bone and teeth health, and protein, carbohydrate, and cholesterol metabolism. Regular consumption of coconut improves the body’s ability to absorb manganese and calcium, which is vital for bone development and can also help prevent osteoporosis.
Marico, PepsiCo Inc., The Coca-Cola Company, The Coconut Company, Nexpo Conversion, Danone S.A., Nestle S.A., Sambu Group, THAI Agri Food Plc., and Thai Coconut Public Company Limited are among the well-established players in the global coconut products market.
Impact of COVID-19 Pandemic on Coconut Products Market
The COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace worldwide. As of July 2020, the US, Brazil, India, Russia, Peru, South Africa, Mexico, and UK are among the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food & beverages is one of the major industries facingserious disruptions such as office and factory shutdown, supply chain breaks, and technology event cancellations, as a result of this outbreak.
The Report Includes the Segmentation of the Global Coconut Products Market as Follows:
By Distribution Channel