Future Market Insights projects that the global market for coconut wraps will grow in value at a 6.5% CAGR from 2023 to 2033. Sales of coconut wraps are anticipated to total US$ 999 million by the end of 2023 before rising to US$ 1,875.22 million in 2033.
The coconut wraps market refers to the sales of wraps made from coconut flour or other coconut-based ingredients. Coconut wraps are a popular alternative to traditional wheat-based wraps, as they are gluten-free and often lower in carbohydrates.
The demand for coconut wraps has increased in recent years, driven by the growing popularity of gluten-free and low-carb diets. Additionally, many consumers are seeking healthier alternatives to traditional wheat-based wraps, and coconut wraps are seen as a more nutritious option due to their high fiber content and lower glycemic index.
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In terms of product type, the coconut wraps market can be segmented into plain, flavored, and sweetened. Flavored and sweetened coconut wraps are becoming increasingly popular, as consumers look for more variety in their food choices.
The growth in the coconut wraps market is also being driven by the increasing popularity of plant-based diets and the trend towards healthier, more natural products. Many consumers are looking for alternatives to traditional wraps made with refined flours, and coconut wraps offer a more natural and nutrient-dense option.
In conclusion, the coconut wraps market is expected to continue to grow as consumers seek out healthier and more natural alternatives to traditional wheat-based wraps. The increasing demand for gluten-free and low-carb products, as well as the trend towards plant-based diets, are likely to drive further growth in this market.
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.
Key Takeaways:
- 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.
The report covers exhaustive analysis on:
- How much is the Coconut Flour market currently worth?
- At what CAGR is the market expected to grow?
- What are the key trends boosting Coconut Flour sales?
- How are market players reacting to the new developments in the market?
- How much share do the top 3 companies hold?
- Which are the major countries driving demand for Coconut Flour?
- Who are the major players in Coconut Flour Market?
- What outlook does APAC provide?
- At what rate will the U.S. Coconut Flour market grow?
- At what level does the report reflect pricing analysis?
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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