Key excerpts from Future Market Insights’ latest report on the global coconut flour market projects that by the end of 2032, around 850.8 Thousand Tonnes of coconut flour is expected to be consumed across the globe. Increasing awareness amongst consumers about health benefits of coconut flour is expected to fuel its demand over the next couple of years. Moreover, coconut flour is gluten-free, making it consumable for those who are allergic to wheat or are sensitive to other similar gluten-based substances. Coconut flour has emerged as a good alternative for wheat flour. In recent past coconut flour has also seen a surge in its sales, owing to the rising demand for functional flour.
In terms of production, China is the leading producer of Coconut Flour followed by Poland, Germany, Chile and Austria. Production of coconut flour in Ukraine has also spiralled in last 3 years. Meanwhile, the Western Europe region holds the top position in terms of consumption followed by North America. Most European consumers value quality and prefer natural products that are healthy and carry no side effects, hence the demand for healthy food products such as coconut flour is significantly high in this region. In North America, the U.S. is a major importer of coconut flour and accounts for a sizeable share of the market.
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The global coconut Flour Market is estimated to be valued at USD 2,100 Mn in the year 2022 and is estimated to grow at an unprecedented rate to achieve a value of USD 6,699 Mn by the year 2032 with a CAGR of 12.3% during the assessment period 2022-2032.
- Soaring popularity of coconut flour tortillas in several parts of the world. From an exotic food item, coconut flour tortillas are now turning into mainstream pantry food.
- In countries such as Japan and the U.S., people are trying to developing new products using coconut flour as a key ingredient. Tortilla chips made with coconut flour has been a great success and well appreciated by food lovers.
- Coconut flour is being increasingly used in manufacturing the nutritional bars, chocolate fillings, and other baking products such as pizza base, and bread.
- Growing demand for coconut flour based food products in the emerging countries such as China and India.
- Increased availability of coconut flour, owing to setting up of organised retail structures in both developed and developing regions.
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Celebs Coconut Corporation, Nutrisure Ltd., Nutiva, Inc, Bob’s Red Mill Natural Foods, Primex Coco Products Inc., The Coconut Company, Connecticut Coconut Company, Van Amerongen & Son., Healthy Traditions and Smith Naturals are some of leading manufacturers of coconut flour profiled in the FMI report.
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