Europe Coconut Products Market Outlook, 2029

Europe Coconut Products Market Outlook, 2029

The last ten years have seen a notable increase in the demand for coconut products throughout Europe. With a wide range of applications and advantages, the coconut's adaptability has helped it grow from a tropical fruit to a commodity valued around the world. A rising market that meets the needs of consumers seeking natural and sustainable products as well as those with gastronomic preferences has been formed by the continent's embrace of coconut-based items. In this surge, coconut oil is leading the way. Its use in cosmetics, personal care products, and even medications has grown in popularity beyond its use in food. Coconut oil has become a popular substitute for unhealthy cooking, baking, and frying oils in European kitchens due to its numerous health advantages and high smoke point. Further, its rich moisturizing properties have made it a sought-after ingredient in skincare and hair care products across the continent. A variety of coconut-based products have been introduced as a result of innovation in the European snack and dessert sectors. The culinary scene has been enhanced with a variety of coconut-infused treats that appeal to individuals looking for both indulgence and healthy options. These treats range from coconut chips and snacks to rich coconut-based sweets like macaroons, ice creams, and cakes. European consumers' awareness of and desire for products sourced sustainably and ethically has had an impact on the coconut business. Many businesses have made a commitment to fair trade principles, making sure that the coconuts used in their products are sourced ethically and helping the communities and farmers in the areas where coconuts are grown.

According to the research report ""Europe Coconut Products Market Outlook, 2029,"" published by Bonafide Research, the Europe Coconut Products market is anticipated to add more than USD 2 Billion from 2024 to 2029. Coconut products have experienced a spectacular surge in popularity in Europe as more and more consumers look for better options for their diets and lifestyles. The market for products derived from coconuts has grown rapidly in the area due to growing knowledge of the health advantages of consuming coconuts. The need for coconut-based substitutes has increased across a range of industries due to the trend toward organic and natural products. Europe's health-conscious consumers are taking notice of the advantages that coconut products offer. Due to its well-publicized benefits, including its medium-chain triglycerides (MCTs) and possible effect on metabolism, coconut oil is becoming more and more popular among people looking for healthier cooking options. In addition, the advent of coconut water as a naturally occurring, electrolyte-rich beverage has made it the preferred choice for athletes and individuals focused on hydration and wellness. The world's biggest importer of desiccated coconut is Europe. In Europe, desiccated coconut is a common ingredient in confections and bakeries. The expanding popularity of Asian food, consumer interest in plant-based, gluten-free, and keto diets, and the widespread usage of coconut in food products are the main drivers of the demand for desiccated coconut. A significant importer of desiccated coconut is Europe. 93,000 tons of imports from outside of Europe were imported in 2022. The desire of the European market for creative, premium coconut goods has led to a great deal of research and development. Academic, industrial, and agricultural sectors have collaborated to improve growing methods, product quality, and discover new applications for coconut derivatives. The goal of this R&D investment is to continuously enhance goods and support the expansion and sustainability of the European coconut sector.

Major Drivers
• Increasing consumer awareness and demand for healthy products: Consumers rising awareness of health and wellness had a huge impact on the European coconut goods market. Because of their nutritional benefits, such as high fiber content, good fats, and important vitamins, coconut-based products are considered natural and healthier choices. Demand for coconut products such as coconut water, coconut oil, and coconut-based snacks are increasing as consumers grow more health-conscious.
• Rising interest in ethnic and exotic flavors: Coconut products fit in nicely with the increased desire for ethnic and exotic flavors in the European market. Coconut-infused meals and beverages have grown in popularity, inspired by Asian, Caribbean, and tropical cuisines. Coconut's exotic and tropical associations add to its appeal among consumers seeking unusual and unique flavor experiences.

Major Challenges
• Sustainability and environmental concerns: The increased emphasis on sustainability and environmental consciousness offers a threat to the European market for coconut goods. Consumers and regulatory agencies are becoming more concerned about the environmental impact of product sourcing and production. Coconut farming practices such as deforestation and monoculture may receive criticism, forcing corporations to embrace more environmentally friendly and sustainable practices. Meeting these expectations while retaining profitability can be a difficult task for coconut product companies.
• Intense market competition: The European market for coconut goods is characterized by fierce competition among many companies, including both domestic and foreign brands. Because of the increasing degree of competition, firms are under pressure to innovate, differentiate their products, and adopt effective marketing techniques. In a congested market, establishing a strong brand presence and maintaining client loyalty demands substantial effort and resources.

Based on product type market is segmented into coconut milk & cream, coconut oil, coconut water, coconut desiccated /flackes /shredded and others. Among them coconut oil product type accounted for largest market in Europe coconut products market. Based on form market includes liquid and solid.

The rise of coconut oil in the European market is being driven by a convergence of health-conscious trends, flexible applications, and a growing consumer desire for natural, sustainable products. Its popularity is due to a variety of reasons that have contributed to rising demand and market expansion. Consumers are looking for healthier alternatives to traditional cooking oils as they adopt better lifestyles. Coconut oil has gained popularity as a versatile and healthier option due to its supposed health benefits, which include medium-chain triglycerides (MCTs) and lauric acid. Because of its possible benefits to cholesterol levels and metabolism, it has been touted as a preferable alternative to traditional oils. Solid coconut goods add a distinct texture, flavor, and scent to a variety of foods, appealing to a wide range of culinary tastes. Due to its high smoke point and distinct flavor, coconut oil, for instance, is used as a substitute for other oils in cooking. Furthermore, shredded coconut and coconut cream are popular ingredients in baking, sweets, and savory dishes, boosting demand for solid coconut forms among European customers looking for a variety of culinary experiences. When obtained sustainably, coconut products align with the European market's heightened awareness of sustainability. Consumers are eager to support items that promote sustainability, fair trade, and ethical sourcing, and solid coconut forms are frequently connected with eco-friendly production practices.

In terms of application market is segmented into food/ beverages, cosmetics and others. Cosmetics products are major application for coconut products in Europe.

The push toward natural and sustainable beauty solutions has been a big driver. Consumers in Europe are increasingly drawn to products that contain natural, plant-derived chemicals, believing them to be safer and more ecologically friendly than their synthetic counterparts. Furthermore, the exotic and tropical associations associated with coconut-based cosmetics contribute to their growing popularity. The idea of coconuts as a sign of purity, wellbeing, and pleasure resonates nicely with the aspirational elements frequently sought for in beauty and personal care products. Furthermore, the increased awareness of sustainability and ethical consumption has fueled the use of coconut-based ingredients. Consumers are becoming more conscious of the environmental impact of their purchases, and they are choosing products that are cruelty-free, environmentally sustainable, and ethically sourced. Coconuts, often associated with eco-friendliness due to their renewable nature and minimal environmental impact, fit well into this narrative. The adaptability and invention of the cosmetics sector have also contributed to the growth of coconut-based products. Cosmetic businesses are constantly developing new products that combine coconut-derived ingredients, leveraging its numerous benefits to meet a wide range of consumer needs. Government initiatives and legislation promoting natural and organic products have aided the expansion of coconut-based cosmetics in Europe. Policies encouraging the use of sustainable and environmentally friendly components have spurred manufacturers to investigate and incorporate coconut derivatives into their compositions.

Based on distribution channel market is divided into hypermarket/ supermarket, conventional store, specialty store and online retail. Among them Hypermarket/ supermarket are major distribution channel for coconut products in Europe. Based on stage segment market includes mature and young. Mature stage coconut products are majorly preferred among consumers in Europe.

Consumer interest and demand for healthier and more diverse food options have increased significantly. Coconut products have grown in favor among health-conscious customers due to their numerous health benefits, such as being high in nutrients, providing natural hydration, and having a wide range of culinary applications. The ease of purchasing a variety of coconut-based items, ranging from coconut water to coconut oil and coconut-based foods, at one location within supermarkets or hypermarkets appeals to this demand for healthier choices. Furthermore, the globalization of food supply chains has increased the availability of exotic items such as coconuts and their derivatives in European markets. Hypermarkets and supermarkets frequently capitalize on this trend by offering a diverse range of coconut-based items produced from various places across the world, giving consumers choices that were previously considered niche or hard to find. The expansion of mature-stage coconut products in the European market reflects changing customer preferences, increased health consciousness, and the varied application of these products in a variety of industries. Mature-stage coconut goods, such as coconut oil, coconut flour, coconut sugar, and coconut water, have seen an increase in demand due to a number of variables. The trend toward healthier and more natural alternatives has had a considerable impact on consumer preferences. Mature coconut goods are frequently considered to be natural, little processed, and devoid of additives or artificial components. This correlates with the growing consumer preference for clearer labels and more nutritious food options, which is driving the greater adoption of these goods.

Based on report market is divided into six major countries, Germany, United Kingdom, France, Italy, Spain and Russia. Among them United Kingdom accounted for largest market for coconut products in Europe.

The UK market for coconut products has expanded significantly in recent years, which is indicative of changing consumer tastes for more varied and healthful food options. This trend has been driven by a number of variables that have changed the culinary and health business environment in the United Kingdom. Coconut products have become increasingly popular due to the United Kingdom's diverse culinary scene and the influence of numerous ethnic cuisines. Ingredients based on coconut have made their way into a wide range of recipes, from traditional British fare to far-flung exotic cuisines like Indian, Thai, and Caribbean. Coconut products are being used in both commercial and domestic cooking due to this variety in cuisine. In the UK, the number of people adopting plant-based, vegan, or flexitarian diets has increased. Coconut products are versatile substitutes for dairy or ingredients originating from animals, which is in line with the increasing trend toward plant-based foods. Particularly, coconut milk has grown in popularity as a dairy substitute in a range of dishes and drinks, catering to the tastes of consumers who are lactose intolerant and vegan. The personal care and cosmetics sectors in the UK have seen substantial growth in the use of chemicals derived from coconuts. Because of its moisturizing and skin-friendly qualities, coconut oil is a common ingredient in skincare, hair care, and cosmetic products.

The coconut products market is characterized by a diverse range of companies, each contributing uniquely to the industry's landscape. The Coconut Company (UK) Ltd. and Vita Coco are recognized for their focus on health-conscious consumers, offering a range of organic and natural coconut products that cater to the growing demand for healthy and sustainable food options. Marico Ltd. and Nestlé S.A. have a significant impact on the market through their extensive distribution networks and broad product portfolios. Their strategic positioning enables them to cater to a wide consumer base, influencing global consumption patterns. Enature Organic Products and Ayam Sarl emphasize organic and ethically sourced coconut products, aligning with consumer trends towards environmental sustainability and ethical sourcing. Renuka Foods PLC and S & P Industries Sdn Bhd have established strong market presences in Asia, capitalizing on the regional abundance of coconuts and focusing on export markets.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Coconut Products market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Coconut milk & cream
• Coconut oil
• Coconut water
• Coconut desiccated /flacks /shredded
• Other

By Form
• Liquid
• Solid

By Application
• Food / Beverages
• Cosmetics
• Others

By Distribution Channel
• Hypermarket/supermarket
• Conventional store
• Specialty store
• Online retail

By Stage
• Mature
• Young

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Coconut Products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.