In the last few years, the demand for coconut has grown significantly to around 450 percent. During that time period, it got its largest marketing boost. With different celebrity endorsements, it has emerged as a superfood in the global market. This has been linked to different benefits that were highlighted earlier. For example, oil produced from this superfood and its water is in high demand by different companies located in Europe and other countries that depend on the tree to manufacture 100 percent natural products
On the other side, the demand for products made of this fruit has skyrocketed during the following years owing to the unlimited health benefits offered by the superfood. Besides, the oil accounted for the maximum market share. The reason for this is this oil us used in different applications such as in food, beverages, cosmetics, gas, energy and more. Furthermore, manufacturers are now focusing more on finding different innovative applications of this product. So, that will create a massive demand for the fruit during the forecast period.
As per the new market report, the global market for this product was valued at USD 10100 million in the year 2018. However, the market has witnessed some changes in growth trends. So, it is expected that by the end of 2024, the global market size will reach $ 16500 million. Besides, the compound annual growth rate will be 7.2 % from the year 2019 to 2024. Increasing awareness about the health benefits of this product has propelled the demand for this fruit.
COCO & CO
PT. Global Coconut
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The world coconut market is segmented based on three vital factors. These are by product type, end-user or applications, and by regions. On the basis of product type, it is split into Snacks, Milk, Water, Oil, Desiccated and Fiber. The faster-growing segment is water. Rising awareness about its health benefits in Asia Pacific and European country can be major reason behind this. Based on the application, it is divided into Cosmetic, Food & Beverages, Textile and Healthcare Products. It is expected that cosmetic industry segment will lead the market, owing massive growth of cosmetic market. However, food & beverage segment will also play a great role in market growth.
Geographical Market Segmentation
The coconut market, based on geography is segmented into Middle East and Africa (South Africa, Saudi Arabia, Egypt, UAE, and Nigeria), Europe (Russia, France, Germany, UK, and Italy), North America (Canada, Mexico and the US), Asia-Pacific ( South Korea, India, China, Japan, and Southeast Asia), and South America (Colombia, Brazil, Argentina, and more). The North America region witnessed the maximum market share in the year 2018, under the revenue category. The major driving factor behind that was growing people’s preference for natural products. However, it is expected that Europe region may enjoy substantial growth in the coming years owing to increasing use of the fruits for different applications.
Latest Market Updates
Dangfoods, a leading snack manufacturing company, recently announced that soon it would launch its new snack item in the market made of 100 percent natural ingredients. One of the main ingredients is coconut. The company previously launched its chips made of this fruit, which received a lot of popularity among the users.
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Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Market Competition, by Players
4 Global Market Size by Regions
5 North America Revenue by Countries
6 Europe Revenue by Countries
7 Asia-Pacific Revenue by Countries
8 South America Revenue by Countries
9 Middle East and Africa Revenue by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Global Market Size Forecast (2019-2024)
13 Research Findings and Conclusion
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