The global coconut consumption was valued at more than 60 million tons in 2018 and is expected to further grow on account of increased adoption in food & beverage, healthcare products, personal care & cosmetics, and textile industry. The global market for coconut is more prone to industrial pressure due to the increased availability of other sources, which are comparatively cheaper than coconut oil namely palm oil, soybean oil, sunflower oil, etc. Coconut oil being comprised of lauric acid and myristic acid are inevitably considered as an important item for industrial applications and often are sold with a huge margin.
The global coconut study offers market sizing for the historic year 2014 to 2017, base year 2018, and forecast from 2019 to 2024 in terms of volume (Kilo Tons) and volume (USD Million). Global coconut market for each product type, application, and region has been provided for the above-mentioned forecast period. The report observes multiple facets of the coconut industry using world production, consumption, trade analysis, market drivers, challenges, opportunities, value chain, and Porter’s five forces model. Furthermore, the study offers an in-depth market assessment with vendor landscape analysis, strategic framework, and profiles of leading global as well as local producers.
In terms of application, the food & beverage industry accounted for more than 60% share of overall market share. Coconut is favored in most of the sweet dishes in many regions due to its naturally sweet flavor. Coconut jam is made with coconut milk, brown sugar and glucose; the demand for coconut confectionaries and candies is spread through certain South Pacific nations, particularly Samoa. Coconut jam is often used as spread, pancake syrup, sponge cake filling, doughnut spreading, ice cream topping, dessert topping and marinade syrup.
Coconut is a magical fruit with the widest set of application areas, including cosmetics. The matured meat of coconut is left to dry naturally or is treated in a heat oven to remove moisture content. This item is referred to as the coconut oil copra which is then used in hair conditioners. The global cosmetic products market size was valued at more than USD 500 billion in 2018 and is growing rapidly by virtue of increasing demand from the millennial population. Thus in turn is expected to increase coconut penetration in personal care and cosmetics products over the coming years.
In terms of region, Middle East & Africa is expected to be the promising market for coconut industry over the coming years. Increasing demand for coconut water and coconut fiber has increased coconut trade over the past few years. For instance, over the past few years many European companies such as Tesco, H&M, and Primark are sourcing their garments from East African countries. Moreover, increasing government regulations and supportive actions to strengthen industrial sectors is expected to not only encourage domestic market, but also strengthen textile trades. For instance, renewal of African Growth and Opportunity Act (AGOA) is expected to offer African countries duty free access to the U.S. market.
In terms of market competition, the global coconut industry is highly fragmented in nature as large number of small players and well-established food & beverage manufacturers are operating in this industry. Some prominent players are Vita Coco, PepsiCo, Coconut Palm Group Co. Ltd. (Yeshu), THE COCA-COLA COMPANY (ZICO Beverages LLC), KKP Industries, Dutch Plantin Coir India Pvt. Ltd, THEPPADUNGPORN COCONUT CO., LTD, COCO& CO, and PT. Global Coconut.
Key segments of the global coconut market
Type Overview, 2014 - 2024 (Kilo Tons) (USD Million)
- Coconut water
- Coconut Oil
- Coconut Milk
- Coconut Snacks
- Coconut Desiccated
- Coconut Fibre
Application Overview, 2014 - 2024 (Kilo Tons) (USD Million)
- Food & Beverage
Regional Overview, 2014 - 2024 (Kilo Tons) (USD Million)
- Asia Pacific
- Southeast Asia
- Middle East & Africa
- South Africa