The global desiccated coconut market is set to witness growth at a CAGR of 5.3% over the forecast period (2022-2032) and reach a valuation of US$ 13.7 Bn by 2032.
Consumers are becoming increasingly conscious of their eating habits and are thus adopting healthy meal plans. Coconut meat is considered to be an ideal solution for those who cannot consume animal meat as the former contains large amounts of medium chain fatty acids that are much easier to digest than the latter. Rapid expansion of the vegan population globally is also set to aid growth.
Coconuts also provide numerous essential minerals, vitamins, and nutrients. Increasing shift of consumers towards convenient food items is projected to drive demand for desiccated versions of coconuts as it is easy to use in preparing various dishes.
Furthermore, coconut in the form of oil is becoming widely acceptable across the globe. In recent years, coconut oil has gained a reputation as a ‘wonder’ food.
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Some media outlets and health experts claim that coconut oil has various health benefits such as rapid weight loss, cholesterol reduction, cardiovascular disease prevention, and anti-inflammatory effects among others. Coconut oil firms have thus leveraged these claims to sell their product and increase shares worldwide.
Moreover, increasing use of alcohol-based hand sanitizers (ABHS) across the globe has resulted in rising number of skin problems on hands. Research studies have shown that repeated topical administration of coconut oil softens the skin and fills cracks, thereby improving the texture of hands.
Spurred by the above-mentioned factors, demand for desiccated coconut is expected to grow at an impressive rate in the assessment period.
Key Takeaways: Desiccated Coconut Market
- South Asia is expected to dominate the desiccated coconut market by accounting for the maximum share of about 32% in 2022.
- India is set to generate nearly 24% of the South Asia desiccated coconut market share in the next decade.
- The U.S. desiccated coconut market is likely to lead owing to increasing utilization in baked goods.
- By form, the powder segment is anticipated to account for the largest share in the global desiccated coconut market in 2022.
- By distribution channel, the online retailers segment is expected to show an impressive growth rate, as compared to all the other channels during 2022-2032.
“Increasing demand for desiccated coconuts among the health-conscious millennial population worldwide is expected to drive the market. Besides, rising use of desiccated coconuts as a taste enhancer in various dishes is projected to influence demand in the upcoming decade,” says a Future Market Insights analyst.
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Competitive Landscape: Desiccated Coconut Market
Key market players are adopting numerous marketing and promotional strategies such as partnerships, collaborations, mergers & acquisitions, new product launches, and geographical expansions to strengthen their positions worldwide. A few other companies are developing new manufacturing facilities in untapped areas to attract a large consumer base.
More Valuable Insights on Desiccated Coconut Market
Future Market Insights, in its new report, offers an impartial analysis of the global desiccated coconut market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on form (powder, granular, flakes, chips, and shreds), application (bakery, confectionery, dairy products, frozen desserts, and other applications), and distribution channel (direct and indirect) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa) of the world.
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Desiccated Coconut Market Outlook by Category
- Dairy Products
- Frozen Dessert
- Other Applications
By Distribution Channel:
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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