Coconut Derivatives Market Outlook
According to the report by Expert Market Research (EMR), the global coconut derivatives market size is projected to grow at a CAGR of 10.20% between 2023 and 2028. Aided by the escalating demand for health-centric food products and the proliferating applications of coconut derivatives in a variety of industries, the market is expected to grow significantly by 2028.
Coconut derivatives, such as coconut oil, milk, water, and sugar, are acquired from the coconut plant and are widely used as ingredients in an array of products including food and beverages, cosmetics, and health supplements, leading to a heightened growth of the coconut derivatives market. They offer significant health benefits, including improving heart health, supporting weight loss, and providing hydration. Besides their health advantages, coconut derivatives also possess excellent moisturising, emulsifying, and sweetening properties, making them beneficial in diverse industrial applications, encompassing cosmetics, pharmaceuticals, and confectionery.
The surging consumer inclination for health-focused food products is stimulating the global coconut derivatives market growth. With the rising consciousness of the health benefits associated with the consumption of coconut derivatives, such as high nutritional content and antioxidant properties, there has been a notable shift towards coconut-based diets, leading to an upsurge in demand for coconut derivative products. Furthermore, the booming trend of wellness and natural food has additionally contributed to the increasing popularity of coconut derivatives, as they are becoming staple ingredients in natural and organic food and beverages.
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The burgeoning applications of coconut derivatives in various industries also significantly contribute to the coconut derivatives market expansion. In the pharmaceutical sector, coconut derivatives are used for their antioxidant and anti-inflammatory properties in the production of various medicines. The cosmetic industry utilises coconut derivatives for their hydrating and skin-nourishing qualities, which are essential in the formulation of numerous skincare products. Moreover, coconut sugar’s low glycaemic index makes it a key component in the manufacturing of health-conscious confectionery products.
Further, the rising demand for plant-based alternatives in the food and beverage sector has led to an increased focus on coconut derivatives as a viable ingredient for vegan products. With the rise of veganism and the increasing popularity of plant-based diets, coconut derivatives have surfaced as a crucial element in the formulation of dairy-free milk, sugar substitutes, and other alternatives, thereby propelling the coconut derivatives market growth.
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Coconut Derivatives Market Segmentation
The market can be divided based on type, derivatives product, end use, and region.
Market Breakup by Type
- Mature
- Young
Market Breakup by Derivatives Product
- Coconut Water
- Coconut Oil
- Coconut Milk
- Desiccated Coconut
- Others
Market Breakup by End Use
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global coconut derivatives companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Axelum Resources Corp.
- Jaka Investments Corporation
- Celebes Coconut Corporation
- PT. Global Coconut
- The Vita Coco Company, Inc.
- Others
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