According to Future Market Insights, the global coconut wraps market is expected to experience a value compound annual growth rate (CAGR) of 6.5% from 2023 to 2033. By the end of 2023, the market is projected to reach a valuation of USD 999 million and increase to USD 1,875.22 million by 2033. Key growth drivers include rising health consciousness and a growing demand for gluten-free food products.
In recent years, consumers have increasingly adopted gluten-free diets as part of a broader approach to healthy eating, which often includes grain-free or low-carb diets like paleo and keto. Additionally, the growing prevalence of gluten intolerance is driving changes in consumption patterns, resulting in a surge in demand for alternative sources of fiber. Coconut wraps are emerging as a popular substitute, effectively replacing wheat-based ingredients in products such as tortillas.
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Gluten intolerance, or celiac disease, is an autoimmune disorder in which the immune system reacts to gluten found in grains like wheat, barley, and rye. This condition damages the lining of the small intestine, resulting in malnutrition and various related health issues. With over 80% of cases remaining undiagnosed and more than 3 million people affected, particularly in the USA, there is a growing demand for gluten-free alternatives. Consequently, products such as coconut wraps are anticipated to see increased demand in the region.
Coconut wraps are rich in beneficial nutrients that support heart health and boost the immune system. Young coconut meat, in particular, is a notable source of dietary fiber, with one cup providing over 7 grams, which is more than 20% of the recommended daily intake. It also contains manganese, a vital trace mineral that strengthens bone health, offers strong antioxidant properties, reduces inflammation, and aids in the metabolism of fats and proteins. Additionally, coconut provides a healthy dose of vitamins A and E, as well as polyphenols and phytosterols, which work together to lower LDL cholesterol levels.
Coconut wraps Market: Key Participants
The key players in the global Coconut wraps market are:
- Nucoconut
- The Pure Wraps
- Andy Albao Corporation
- Thrive Market
- Others
Regional analysis includes
- North America (USA, Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, United Kingdom, France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Coconut Wraps Market: Segmentation
The Coconut wraps market can be segmented based on source and application
Nature:
- Organic
- Conventional
Flavors:
- Original
- Turmeric
- Cinnamon
- Moringa
- Others
Sales Channel:
- B2B
- Food Service (HoReCa)
- B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Discount Stores
- Food & Drink Specialty Stores
- Independent Groceries
- Online Retailing
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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