ココナッツデリバティブ市場規模、シェア、将来成長、2032年
Market overview
According to Fortune Business Insights, the global coconut derivatives market size was valued at USD 11.05 billion in 2019. The market is expected to expand from USD 11.60 billion in 2020 to USD 41.03 billion by 2032, at a CAGR of 11.10% during the forecast period .
The market research report provides qualitative and quantitative insights into the market. Analysis reveals that the CAGR growth is driven by the growing popularity of veganism and rising consumption of plant-based foods and beverages . For example, 2020 saw a surge in demand for coconut water due to its health benefits and long shelf life, leading to panic buying. This trend indicates a strong demand for plant-based and health-conscious products globally.
Major companies listed on the market
- Axelum Resources Corp. (Northern Mindanao, Philippines)
- Superstar Coconut Products Co., Inc. (Quezon City, Philippines)
- Celebes Coconut Corporation (Butuan, Philippines)
- JAKA Investment Corp. (Makati, Philippines)
- PT Global Coconut (North Sulawesi, Indonesia)
- McCormick & Company, Inc. (Maryland, USA)
- Hain Celestial Group, Inc. (New York, USA)
- Danone SA (Paris, France)
- Vita Coco (New York, USA)
- Agrim Pte Ltd. (Singapore)
Segment Analysis
Mature coconuts account for the majority of the market share
Based on type, the market is segmented into mature and young coconuts, with mature coconuts holding the major market share due to their high pulp content, low price , and suitability for producing coconut oil and copra, which are in high demand.
Coconut water emerges as the most consumed derivative
By derivative, coconut water is categorized into coconut water, coconut oil, coconut milk, and others. Coconut water is expected to show particularly high CAGR in North America and Europe due to the increasing demand for healthy and functional beverages .
Cosmetics sector accounts for the major share
By end-user, the market is categorized into food and beverages, cosmetics, and others. The cosmetics segment is driving the market due to the widespread use of coconut oil and milk in beauty and skin care products .
Report Scope
This report provides:
- Key growth drivers, restraints, opportunities, and potential challenges
- Detailed market trends by region
- List of major companies in the industry
- Key strategies adopted by companies
- Latest industry trends, including new product launches, partnerships, mergers and acquisitions
Market Drivers and Restraints
Rising popularity of plant-based alternatives will drive market growth
The rise of veganism and plant-based diets is driving demand for coconut derivatives. Coconut milk and coconut oil are popular alternatives to animal-based milks and fats . Their use in cosmetics and skincare is also expanding due to consumers' increasing demand for natural and organic ingredients.
On the other hand, fluctuations in coconut production due to drought and weather changes could hinder market growth. Furthermore, supply chain disruptions, such as those seen during the COVID-19 pandemic, could lead to raw material shortages and price hikes, which could impact the market .
Regional Insights
Asia Pacific: High production and trade activity drive the market
Asia Pacific accounted for 46.24% of the market share in 2019 and is expected to continue to lead the market during the forecast period. The region is a global trade hub and is home to a number of major coconut producing countries and large manufacturers, contributing to this growth.
Europe: Rapid growth driven by rising demand for plant-based foods
Europe is a rapidly growing region driven by the trend towards plant-based foods and increasing demand for coconut milk and water.
Future Outlook for Coconut Derivatives Market
The coconut derivatives market is expected to grow significantly amid the global shift towards plant-based foods, veganism, and clean-label products. Demand is being driven by increased use of coconut derivatives as a healthy alternative in the food and beverage sector and as a natural ingredient in cosmetics.
The Asia-Pacific region continues to play a central role as a major production and export hub, while North America and Europe are experiencing rapid market expansion due to growing health consciousness and the popularity of sustainable plant-based products .
Competitive environment
Companies are focusing on facility expansion, new product development, geographic expansion, and new contracts to increase market share . The market is highly fragmented, with major players such as Vita Coco, Danone SA, and Axelum Resources Corp. having a significant presence.
Key Industry Trends
- September 2020 : North American company EVR Foods launches Lavva, a plant-based milk and creamer made with pili nuts and coconut water .
- October 2019 : Axelum Resources Corp. enters into a new agreement to supply organic coconut derivatives (specifically coconut milk powder) to an international skin care product manufacturer .
