The global desiccated coconut market was worth US$ 8.2 Billion in the year 2022 and is expected to reach US$ 13.7 Billion by the year 2032 at a CAGR of 5.3% between 2022 and 2032.
Coconut grows in Southeast Asia, especially in regions that are abreast with sea shores. Its unsweetened and grated meat (known as desiccated coconut) is in great demand in Indian and Indonesian cuisines.
These days, coconut is broadly used in confectionery, coffee, bakery goods, and likewise. It also finds its presence in Burmese cuisines. The millennials are also asking for variants wherein health is blended with taste. The nutrients are inclusive of selenium, manganese, copper, dietary fiber, and likewise.
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Desiccated coconut is likely to find its place in coconut chocolate, coconut cream, packaged milk, and milk powder. The consumers are also into shifting to organic products; which is expected to catalyze the desiccated coconut market. The cost-effective Indian breakfast items like puffed rice (poha) and upma are served with desiccated coconut as a topping. Another advantage is that coconut, being a fruit, could be used while fasting as well. In India, during festivals like Navratri wherein women fast for 9 days in continuation, desiccated coconut is preferred for cooking coconut cakes. During Ganesh festival, desiccated coconut is used for filling the modaks (sweet momos offered to Lord Ganesha). It could be concluded that India is one of the biggest markets for desiccated coconut in the present scenario and the status quo is expected to remain the same even in the forecast period.
At the same time, the fact that coconut is marred by controversies like containment of saturated fatty acids can’t be ignored. Certain customers have started switching over to roasted coconut chips and coconut water instead of desiccated coconut. These factors are expected to restrain the desiccated coconut market going forward.
Future Market Insights has entailed these facets with future perspectives in its latest market study entitled ‘Desiccated Coconut Market’. It has its team of analysts and consultants to look through an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“With coconut being increasingly utilized in puddings, cakes, and chocolate bars, the global desiccated coconut market is expected to grow on a good note in the forecast period”, says ban analyst from Future Market Insights.
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Key Takeaways from Desiccated Coconut Market
- North America holds the largest market share with the US being subject to growing demand for low cholesterol or tans-fats in the wake of growing occurrences of cardiovascular diseases herein.
- The Asia-Pacific is expected to grow at a sizable rate in the desiccated coconut market due to the Southeast Asian economies extensively using coconut, especially when it comes to Indonesian, Burmese, and Indian cuisines.
- In Europe, traditional bakery products like kokosmakronen (The Netherlands) and coconut macaroons (the UK) could not be imagined without coconut. Several breakfast cereals also contain coconut.
Competitive Desiccated Coconut
- The key participants in desiccated coconut market include Ken Taste Products Ltd., Celebes Coconut Corporation, Super Coco Company, VV Industries, Coloma Bio Organic, Goldman International Pvt, Ltd., Bake King, Holland & Barrett, and likewise.
- The participants are engaging into various modes of organic as well as inorganic expansion to strengthen their foothold in the desiccated coconut market going forward.
What does the Report say?
- The research study is based on form (powder, granular, flakes, chips, and shreds), by application (bakery, confectionery, dairy products, frozen dessert, and the other applications), and by distribution channel (direct and indirect (supermarkets/hypermarkets, convenience stores, specialty stores, independent retailers, and online retailers).
- With technological advancements being adopted by the foodservice vertical, the global desiccated coconut market is expected to grow on a profound note in the near future.
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Desiccated Coconut Market Outlook by Category
By Form:
- Powder
- Granular
- Flakes
- Chips
- Shreds
By Application:
- Bakery
- Confectionery
- Dairy Products
- Frozen Dessert
- Other Applications
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About FMI
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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