Coconuts are known for their versatility ranging from food to cosmetics. They form a regular part of the diet of many people in the tropics and subtropics. Coconuts are distinct from other fruits for their endosperm contains a large quantity of water (also called “milk”), and when immature, may be harvested for the potable coconut water. Coconut flour is a soft flour type product made from the pulp of coconut. It is a by-product made at the time of the production of coconut milk. The pulp then dries out and is ground into this powdery flour. Furthermore, increasing problems related to health such as hormonal deregulation, inflammation, and weight gain are projected to propel the global coconut market over the slated time period due to the beneficial properties of the product.
The global coconut flour market will grow by USD 131.31 million during 2019-2023, at a CAGR of 8%.
Key drivers of the market are:
- Growing awareness of health benefits coconut flour provides
- Increasing health issues
- Gluten-free substitute
- Minimum Carbohydrate, and High and Non-Digestible fibre content – good for colon health
Good for diabetic patients as it has a lower impact on blood sugar levels
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The Global Coconut Flour Market is broadly classified by Product Type, Application, and Top Players/Brands. By product, the market is broadly classified into Whole Full Fat Flour, Low Fat High Fibre Flour, and Medium Fat Flour.
By application, the market is segmented into Baked Products and Snack Foods.
To determine the market segmentation, the report covers 10 key players (along with key players’ revenue and market share in the global market). A few of them are:
- Celebs Coconut Corporation
- Bob’s Red Mill Natural Foods
- Primex Coco Products
In addition, this report discusses the key drivers influencing market growth, opportunities, trends and their impact on present and future development, and the challenges and risks faced by key players and the market as a whole.
In the report, by region, the global market is divided into Americas (United States, Canada, and Mexico), Europe (Germany, France, UK, Italy, and Russia), Asia Pacific (China
Japan, Korea, Southeast Asia, and India), South America (Brazil, Argentina, and Colombia), and the Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
On the basis of research, almost 90% of the global supply of coconuts comes from Asia. Unfavourable climate condition for the production of coconut, particularly in the North America region is projected to hamper the market during the forecast period. Moreover, developed countries such as U.S., Brazil, and others are importing coconut from India, Philippines, and Indonesia. The manufacturing of coconut flour is very cost effective in this region, and the raw material for the production of coconut flour is obtained from the by-product of the of the coconut milk industry. All these make it lucrative for new companies to enter the market.
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