Creamed Coconut Market Overview

The creamed coconut market is estimated to reach USD 4.5 billion in 2030, with growth at a CAGR of 7 % during the forecast period of 2022-2028. It was valued at USD 2.9 billion in 2022. Due to factors such as the rising trend of veganism worldwide, the increasing number of innovations associated with creamed coconut-based products and increasing product requirements in the cosmetics industry. Escalating using creamed coconut to cure several diseases, including diabetes, arthritis, and Alzheimer’s, is also predicted to increase market growth in the forthcoming years. Furthermore, the demand for creamed coconut increases as people’s choice transformations towards this product due to its many health benefits. The market for creamed coconut has seen significant growth in recent years as it is commonly used in breakfast as a high-energy source food.

What is Creamed Coconut?

Creamed coconut, defined as coconut butter, is made from a mature coconut’s unsweetened, dehydrated fresh pulp, ground to a semi-solid white creamy paste. It is sold in the shape of a hard white block that can keep at room temperature. Coconut oil dissolves at around 24°C, a liquid paste in warmer weather. The block is normally packaged in a closed plastic pouch, and some partitions of the fat and the coconut flesh can be seen. It is chopped into chunks or grated before adding to dishes. Can make it into coconut milk or coconut cream reserves by adding warm water. Adding water to creamed coconut in the proportion of 5:2 gives coconut cream substitute, 5:1 coconut milk substitute.

Growth Drivers

Innovation Associated with Creamed Coconut Products

The new product development of the coconut agroindustry is very high because of the increased innovation in establishing new products. New products that are more useful and adaptive are required to achieve higher market growth and approval of end-users to obtain competitive coconut agroindustry in the future. Creamed coconut is perfect to utilize when you require a coconut flavor, but you don’t want more liquid, as coconut cream or milk would add to your recipe. You can roughly dice it or grate it into whatever you are cooking, for instance, a curry or custard. You can use creamed coconut to produce coconut cream and coconut milk. Techniques for developing new products in the coconut agroindustry include consumer choice to identify product options are the growth drivers in the creamed coconut industry.

Opportunities

Rising Veganism Trend Worldwide

Latest examinations have linked non-veg food consumption to a raised risk of cancer. Scientists have made it precise that consuming meat in your daily diet can work as one of the primary triggers of cancer. Consumption of a high amount of non-veg foods, particularly red meat, can also work as one of the primary causes for high blood pressure and more chance of heart ailments. The cholesterol present in red meat works as a major reason to clog the arteries, increasing blood pressure and increasing the risk of a heart attack. That’s why people are switching their diet from nonveg to vegan. The shift from vegetarians to vegans has been accelerated by global actions such as ‘Veganuary.’ The number of people signing to the ‘Veganuary’ campaign. Source: BBC. Similarly, Google’s search for ‘veganism’ has seen an increase of 580 percent over the last five years and this transformation gives them many opportunities to the cream coconut market for making delicious curry and recipes.

Restraints

Disease Associated with Coconut Plantation

Coconut trees are inclined to some illnesses. Few are very dangerous, and few slowly affect the tree by gradually reducing the overall yield. Stem bleeding, you might have noticed the stem of the coconut tree removing reddish-brown liquid out of the attempts. Over time, cracks are built on the coconut stem on which liquid evolves, decays its tissues, and yields limited yields. Often trunks of trees grow big holes, which can avoid fertilizers or organic manure, such as cow manure that controls plants and trees from numerous diseases and bud rot. Early symptoms occur with the yellowing of one or two leaves. Black holes occur on leaves, and later they fall. It is a gradual process. If left untreated will result in unreasonable to no yield or smaller nuts.

Pre Covid-19 Impact on Global Creamed Coconut Market

Before the Covid-19 period, the market was mainly driven by the rising demand for flavoring agents in processed foods and different cuisines and the demand for non-sweet cream in desserts and beverages among health-conscious consumers. Also, innovations with new product formulations have further fueled the market growth.

Covid-19 Impact on Global Creamed Coconut Market

During the Covid-19 period, The Covid-19 pandemic has negatively impacted the Creamed Coconut Market. With the industries. Due to lockdown and social distancing norms, major companies have suspended their operations in different locations. The decline in growth can be attributed to a disruption in the supply chain. Moreover, halt in the production of coconut and creamed coconut and its processing due to lockdown and social distancing being practiced worldwide have adversely affected the growth of this industry.

Post Covid-19 Impact on Global Creamed Coconut Market

After the covid-19 outbreak, people became more health-conscious. Coconut has a profoundly nutritious substance and offers nutrients E, C, B1, B3, B5, and B6, including minerals like iron, sodium, calcium, magnesium, selenium, and phosphorous. Coconuts give cancer prevention agents, support glucose guidelines, and lessen the danger factor for the coronary episode. Cream Coconut items offer different medical advantages like improving cardiovascular well-being, decreasing stomach-related issues, and helping in weight reduction.

By Distribution Channel Segmental Analysis

The market is segmented into direct and indirect sales based on distribution channel segmental analysis. Direct sales are further segmented into Supermarkets, hypermarkets, malls, bakery stores, convenience stores, grocery stores, and online stores .l Supermarkets and hypermarkets are constantly adjusting and have begun to focus on buyers’ choices to have products desired by them. The vast availability of products in different brands and price ranges presents consumers with the privilege of selection.

By Source Segmental Analysis

The market is segmented into Organic and Conventional based on source segmental analysis. The conventional variant, albeit showing a slowdown in its sales, stays a dominating segment in this market. The more comfortable availability, coupled with its lower price than its organic counterpart, has pushed its demand.

By End-User Segmental Analysis

Based on End-User segmental analysis, the market is segmented into Food & Beverages, Cosmetics & Personal Care and others. The cosmetics segment was prevailing, which accounted for more than half of the share in the coconut products market in 2021 and is anticipated to retain its dominance throughout the forecast period of 2022-2030. Coconut creations such as coconut oil, coconut butter, coconut milk, and creamed coconut are mostly used in preparations of cosmetic products due to their antioxidant, anti-aging, and anti-inflammatory properties beneficial for hair and skin.

By Regional Segmental Analysis

Based on the regional segmental analysis, the market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. Asia-Pacific was the prominent market in 2021 and accounted for the maximum share in the global coconut products market. It can be attributed to the increased adoption of coconut products such as coconut oil, coconut water, creamed coconut, and cream in different food & beverage and cosmetic applications in the region. However, the North American and European areas are also anticipated to notice a significant CAGR, owing to growth in demand for packaged creamed coconut.

Competitors Analysis

The companies include Jaindi Exports (Pvt) Ltd., GloryBee, Renuka Foods PLC, Edwards & Sons Trading Co., AB World Foods Limited, Lucy Bee Beauty, The Bart Ingredients Company Ltd., Rupanzel Naturkost GmbH, Tropical Sun Foods and other prominent players in the global creamed coconut market. Key Stakeholders

• Market research and consulting firms
• Creamed Coconut Associates
• Local Governments
• Regulatory bodies
• Creamed Coconut Market
• Suppliers
• Service Providers

Recent Developments

• In July 2023, Zuma Valley introduced new coconut products to the market. These include refrigerated whipped coconut cream, frozen coconut cream, and frozen coconut meat. 
• September 29, 2020: Edward & Sons Trading Company extended its allocation of coconut milk-based products sold under its Native Forest brand and are now made available at a wider range of offline and online retailers.

Scope of the Report

Report Attribute	Details
Growth Rate	CAGR of 7 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The companies include Jaindi Exports (Pvt) Ltd., GloryBee, Renuka Foods PLC, Edwards & Sons Trading Co., AB World Foods Limited, Lucy Bee Beauty, The Bart Ingredients Company Ltd., Rupanzel Naturkost GmbH, and Tropical Sun Foods are the key players.

Market Modelling

By Distribution Channel

• Direct Sales
• Indirect Sales

By Source

• Organic
• Conventional

By End-User

• Food & Beverages
• Cosmetics & Personal Care
• Others

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East & Africa

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