Desiccated Coconut Market - Forecast(2023 - 2028)
The Desiccated Coconut Market size is estimated to reach $7.1 billion by 2026 and is poised to grow at a CAGR of 5.5% over the forecast period of 2021-2026. Desiccated coconut refers to the meat of the coconut, which has been dried out, pared, and washed from all the coverings. Coconut meat has been in use for centuries and is called “Kalp vriksha,” meaning that the tree provides all the necessary things for human survival. The desiccated coconut can be sliced or cut as per the needs of the consumers. In confectionery items, the desiccated part is used for decoration, aroma, and more recently has been adopted due to its properties of dietary fiber. Since the coconut is dried out post-harvest, the desiccated part or the meat of the coconut is high in manganese/magnesium and contains 24% of the recommended daily value in the diet. The health benefits and rising inclination of consumers to adopt natural sugars with a low glycemic index are some of the factors driving the Desiccated Coconut Industry forward during the forecast period.
Report Coverage
The report: “Desiccated Coconut Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Desiccated Coconut Market.
Key Takeaways
- Europe’s Desiccated Coconut Market held a dominant revenue share in the year 2020. It is owing to the dependence of desiccated coconut in preparing various delicacies and multiple usages in the bakery, confectionery, and beverage industries. Moreover, Europe will continue to grow at a lucrative rate owing to the rising preference for adopting Asian delicacies and healthy sugars in the daily diet.
- The aligned health benefits offered using desiccated coconut will act as a driver for the market. However, dependence on some regions affecting the overall price will serve as a challenge for the market.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Desiccated Coconut report.
Desiccated Coconut Market Challenges
A high price dependence on few production regions is a challenge desiccated coconut markets face.
A high correlation is found between a few regions’ productions and the overall global consumption of the desiccated coconut market. Desiccated coconuts are predominantly supplied from the south Asian countries of the Philippines and Indonesia (60% of the exports). The regions are known to be hampered by climatic conditions and various cyclonic storms. Hence, the major importer such as Europe faces challenges regarding the prices of desiccated coconuts, as with a supply crunch, the prices shoot up to 20%, and subsequently go down as well. The high dependence on regions has created various price turbulences for the market.
Desiccated Coconut Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Phytol Market. The top 10 Desiccated Coconut Companies include:
- Royce Food Corporation
- Celebes Coconut Corporation
- Ken taste Products Limited
- VV Industries
- Super Coco Company,
- Goldman International Pvt Ltd.
- Coloma Bio Organic
- Holland & Barrett
- Bake King
- Rev Foods
Recent Developments
- In 2021, Genuine Coconut exhibited itself by launching three new flavors in the USA Market. The products were Coconut Chunks, Coconut Toppings, and Grated/Desiccated Coconut. All the launched products are free from artificial sweeteners and have a 60-day shelf life.
- In 2021, Natural Delights replaced their existing date rolls with Mini Majdools. The brand line would consist of desiccated coconuts, cacao and pecan, sweet and salty almond, and various other nuts.
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