Coconut Products Market, By Form (Solid and Liquid), By Products (Coconut Powder, Coconut Water, Coconut Milk/Cream, Coconut Oil, Desiccated Coconut, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Coconut products provide multiple health benefits such as improvement in cardiovascular health, reduction of digestive problems, and weight loss. Coconut water provides a cardio-protective effect, boost kidney health, aid in diabetes management, provide rehydrating effect post-exercise, and aid in maintaining blood pressure levels. The health benefit of coconut water such as the regulation of internal fluids and the ability to replenish and rehydrate the body is driving the growth of the market.
Market Dynamics
By product type, coconut oil segment is expected to witness significant growth, owing to various advantages associated with it. Coconut oil is widely used in food, toiletry, and industrial sectors as it is saturated, stable, and biodegradable as well as enhances the shelf life of products prepared using coconut oil. Moreover, refined coconut oil is used in the manufacturing of biscuits, chocolates, confectionery items, ice cream, pharmaceutical products, and paints.
Among region, Asia Pacific is expected to hold a significant market share during the forecast period. This is owing to the substantial demand for coconut products from South Asian countries. The increasing lactose-intolerant population in the region increases the demand for coconut milk. According to the U.S. National Library of Medicine, lactose intolerance in adulthood is most prevalent in people of East Asian descent, affecting over 90% of adults in some of these communities. Coconut milk is largely used as a substitute for milk, which contains lactose.
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