Coconut Candy Market Size, Share | Global Report 2022, 2028

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Coconut Candy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Chocolate Coconut Candy and Non-Chocolate Coconut Candy), Category (Sugar-Free and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

Publication Month: Oct 2022 | Report Code: TIPRE00029761 | No. of Pages: 155 | Category: Food and Beverages | Status: Published

The coconut candy market is expected to grow from US$ 1,364.87 million in 2022 and  it is expected to grow at a CAGR of 5.5% from 2022 to 2028.

Coconut is associated with a variety of health benefits. It is rich in vitamins, minerals, carbohydrates, medium-chain triglycerides, and dietary fibers, which help improve immunity, skin and hair health, and bone health. Moreover, coconut has a unique exotic nutty flavor that imparts rich creaminess to confections and chocolates. Dark chocolate is one of the majorly used chocolates as it has long been recognized for its mood-altering properties. Moreover, the blending of coconut with chocolate creates a unique taste. Therefore, chocolate-based coconut candies are gaining huge popularity among consumers of all age groups.

The coconut candy market in the Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The global confectionery market, mainly coconut candy industry, is propelled by the shift in dietary patterns and eating habits of consumers. The increase in disposable income and buying preferences has also positively impacted the coconut candy market in the developing economies of Asia Pacific. Moreover, Asia Pacific significantly contributes to the production and consumption of coconut-based products as the major plantations are found in countries such as Indonesia, the Philippines, India, Sri Lanka, and Vietnam. According to an article published by the Food and Agriculture Organization of the United Nations, 15 member countries of the Asian and Pacific Coconut Community (APCC) account for a major share of the plantation area and production of coconuts, cumulatively, accounting for 10.7 million ha (87%) and 9.2 million MT of copra equivalent (82.81%). Indonesia, the Philippines, and India are the major producers of coconut in the world. Thus, it is easy for manufacturers to procure the raw material for making coconut-based confectioneries such as coconut candy.

Strategic Insights

Report Coverage - Coconut Candy Market
Report CoverageDetails
Market Size Value inUS$ 1,364.87 Million in 2022
Market Size Value byUS$ 1,881.64 Million by 2028
Growth rateCAGR of 5.5% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages155
No. of Tables86
No. of Charts & Figures78
Historical data availableYes
Segments coveredProduct Type, Category, and Distribution Channel
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Market Insights

Strategic Initiatives by Key Market Players to Provide Growth Opportunities to Market Players in Coming Years

The companies in the coconut candy market are adopting strategies such as product innovation and creative marketing campaigns to increase their customer reach. In June 2022, Cocomels, a US-based brand of JJ Sweets, launched a low-sugar caramel candy made with coconut milk. The product contains coconut cream as the main ingredient, which gives it a rich, nutty taste and mouthfeel. It is sweetened with low-calorie sweeteners, such as allulose and monk fruit, and is free of dairy, gluten, cholesterol, and corn syrup. With such product launches, Cocomels aims to target calorie-conscious consumers that are not willing to compromise on taste.

Further, companies are launching customized gift boxes containing a mix of different candies for festivities and special occasions. In April 2022, Ferrero launched a range of products specially curated for Easter, which included treats and gift boxes. For example, the Ferrero Collection Bunny Gift Box comprised 13 pieces of premium confections including Raffaello, containing coconut and almonds; Ferrero Rocher hazelnut chocolates; and Rondnoir dark chocolates with crisp wafers. Such innovative product offerings are expected to drive the sales of coconut candies during the forecast period.

Product Type Insights

Based on product type, the coconut candy market is segmented into chocolate coconut candy and non-chocolate coconut candy. In 2021, the chocolate coconut candy segment held the largest market share. Chocolate consumption helps reduce depressive behavior as chocolate has antioxidant and anti-inflammatory properties. Various types of chocolates are used as a filling or coating in coconut candy manufacturing. Dark chocolate is one of the majorly used chocolates as it has long been recognized for its mood-altering properties. Moreover, the blend of coconut and chocolate creates a unique taste. Therefore, chocolate-based coconut candy is highly popular among people of all ages.

Coconut Candy Market Share, by Product Type, 2021 Vs. 2028

Coconut Candy Market Share, by Product Type, 2021 Vs. 2028

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Ferrero International S.A; The Hershey Company; Russell Stover Chocolates, LLC.; Mars Incorporated; Chocoladefabriken Lindt and Spruengli AG; Unreal Brands Inc.; Alfred Ritter GmbH & Co. KG; Tru Fru LLC.; Godiva; and Weetabix Food Co. are the key players in the coconut candy market. The leading players adopt strategies such as mergers and acquisitions, and product launches to expand their geographic presence and clientele. 

Report Spotlights

  • Progressive trends in the coconut candy industry to help players develop effective long-term strategies
  • Business growth strategies adopted by companies to secure growth in developed and developing markets
  • Quantitative analysis of the coconut candy market from 2019 to 2028
  • Estimation of the demand for coconut candies
  • Porter’s Five Forces Analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, and factors driving and restraining the coconut candy market growth
  • Understanding strategies that underpin commercial interest with regard to the coconut candy market growth, aiding in the decision-making process
  • Coconut candy market size at various nodes of market
  • Detailed overview and segmentation of the coconut candy market, and its industry dynamics
  • Coconut candy market size in various regions with promising growth opportunities

The "Global Coconut Candy Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry, focusing on the coconut candy market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The coconut candy market is segmented on the basis of product type, category, and distribution channel. Based on product type, the market is divided into chocolate coconut candy and non-chocolate coconut candy. Based on the category, the market is bifurcated into sugar-free and conventional. Based on distribution channel, the coconut candy market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others.     

Company Profiles

  • Ferrero International S.A
  • The Hershey Company
  • Russell Stover Chocolates, LLC.
  • Mars Incorporated
  • Chocoladefabriken Lindt and Spruengli AG
  • Unreal Brands Inc.
  • Alfred Ritter GmbH & Co. KG
  • Tru Fru LLC.
  • Godiva
  • Weetabix Food Co.

Frequently Asked Questions

The major players operating in the global coconut candy market are Ferrero International S.A; The Hershey Company; Mars Incorporated; Chocoladefabriken Lindt and Spruengli AG; Alfred Ritter GmbH & Co. KG among others
The rise in demand for sugar-free and organic coconut candies, is expected to provide lucrative growth opportunities to the global coconut candy market during the forecast period.
The chocolate manufacturers innovate and develop new products such as enrobed chocolates, chocolate truffles, filled chocolates, pralines and many more, with distinct flavorings. This strategy helps chocolate manufacturers to expand their product portfolio and increase market share. Thus, coconut flavored or filled chocolate candies are widely produced due to rising customer preferences, thereby fueling the segment growth.
Asia Pacific has few countries with the world’s largest population, majority of which are young. The youth form a significant consumer base of confectionery and specifically coconut candy. Therefore Asia-Pacific accounted for the largest share of the global coconut candy market in 2021.
Based on distribution channel, online retail is the fastest-growing segment. The growing e-commerce industry along with the development of online shopping websites, is driving the segment’s growth. Moreover, a shift towards online retail segment is observed due to the distinct benefits such as quick service, home delivery, easy access and many more.
The rising consumption of coconut-based products, and innovations and product development by key market players such as coconut chocolate truffles, coconut filled chocolates or flavored coconut candies are some of the key driving factors for the coconut candy market.

The List of Companies - Coconut Candy Market

  1. Ferrero International S.A
  2. The Hershey Company
  3. Russell Stover Chocolates, LLC.
  4. Mars Incorporated
  5. Chocoladefabriken Lindt and Spruengli AG
  6. Unreal Brands Inc.
  7. Alfred Ritter GmbH & Co. KG
  8. Tru Fru LLC.
  9. Godiva
  10. Weetabix Food Co.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Global coconut candy market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Global coconut candy market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the coconut candy market as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TIPRE00029761
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