Global Coconut Flour Market - 2023-2030

Global Coconut Flour Market - 2023-2030

Global Coconut Flour Market reached US$ 3.48 billion in 2022 and is expected to reach US$ 6.20 billion by 2030, growing with a CAGR of 7.49% during the forecast period 2023-2030.

As the vegan population is increasing globally demand for plant-based ingredients also increased like coconut flour. According to the data given by WorldAnimalFoundation, around 88 million people are vegan in the world. Almost 1-2% of the global population is vegan. Market growth of the vegan food is expected by $31.4 Billion in 2026. Due to this, increase the demand for vegan ingredients like coconut flour.

Major key players in the market launched innovative products in the market to fulfill consumer’s demands. For instance, on March 24, 2020, Doves Farm, a UK baking company offered its range of organic flours with an Organic Coconut Flour to fulfill consumer’s demand for organic products. The company’s organic flours are made from Sri Lankan coconuts and are Organic Coconut Flour is Soil Association organic certified, Vegan Society certified, and Coeliac UK certified. It is high in fiber and protein. It has applications in cakes, cookies, pancakes, waffles, pastries, and others.

An increase in the health benefits awareness of coconut flour helps to boost market growth over the forecast period. Coconut flour is a rich source of fiber than wheat flour. Daily consumption of fiber-rich food helps to improve digestion and increase the growth of healthy bacteria in the gut and helps to improve gut health. Coconut flour contains lauric acid which is good for the gastrointestinal tract.

Dynamics

Growing Applications of the Coconut Floor in the Food Industry

Coconut flour is used in various food dishes such as bread, waffles, pancakes, and cookies. Globally an increase in the trend of consuming grain-free diets creates demand for coconut flour over the forecast period. It is used as a thickening agent in various food dishes. It is added to soups and sauces.

Coconut flour's low carbohydrate content makes it suitable for low-carb and ketogenic diets. Coconut flour contains 59.77% carbohydrates as compared to wheat has 78.46%. An increase in the innovations in the various in various cake recipes with coconut flour helps to boost the market growth. For instance, on September 12, 2023, Bridgets Healthy Kitchen, launched Hawaiian Kara Pineapple + Coconut Cake in the market.

Growing consumer demand for Gluten Free Flours

Wheat and rye flours are normally used in traditional applications of product preparations. The National Institute of Health estimates wheat has 75-80% gluten protein. In addition, the gluten content of around 7.2 g/100g is present in barley. Increasing gluten intolerance drives the demand for gluten-free ingredients. According to the data given by the Cleveland Clinic Organization in 2022, around 6% of the United States population is gluten intolerant. With the increasing adoption of gluten-free diets by consumers there is an increasing demand for coconut flour.

As celiac disease prevalence increases globally demand for coconut flour is increased as it is gluten-free. In 2020, around 1% of the American population suffered from celiac disease which is about 3 million consumers that eliminate all gluten from their diet. Due to the rising number of celiac diseases, many consumers globally avoid consuming gluten which helps to boost market growth of the coconut flour market.

High Cost

The production of coconut flour involves multiple labor-intensive steps, from harvesting coconuts to drying, desiccation, and milling the coconut meat. Labor costs are based on the location of coconut production and quantity. Coconuts, compared to other grains like wheat, have a relatively low yield of flour per unit of coconut. More coconuts are required to produce the same quantity of flour as other flours due to the high production cost of coconut flour is high.

Coconuts are majorly grown in tropical regions, and transportation costs to distribute coconut products to global markets are high. Shipping and logistics expenses added to the overall cost. The processing of coconuts into flour requires specialized equipment, such as grating machines and drying facilities. Additionally, energy costs for drying the coconut are significant, impacting the overall cost structure.

Segment Analysis

The global coconut flour market is segmented based on form, nature, distribution channel, application, and region.

Increasing Consumer's Demand For Organic Coconut Flour

On the basis of nature market is segmented into organic and conventional. The organic coconut flour segment held 41.15 % of the market share in the global coconut flour market. Growing consumer demand for healthier and environmentally friendly ingredients like organic coconut flour helps to boost segment growth over the forecast period. Organic coconut flour is free from synthetic chemicals which make it an attractive choice for health-conscious consumers.

Organic certification often includes ethical considerations, such as fair treatment of farm workers. Consumers who are socially conscious and concerned about fair labor practices are more inclined to choose organic products. In 2020, globally 3.4 million organic producers were there. India is the major shareholding country in the world with 1.6 million producers. As production of the organic foo products increases demand for organic coconut flour is increased.

Geographical Penetration

Growing Consumption of Coconut Flour in Asia Pacific

Asia Pacific accounted largest market share accounting for 45.12% of the global coconut flour market. China and India are major shareholding countries in the region due to rapid growth in the population and an increase in the disposable income of the consumers. An increase in the applications of coconut flour in a wide range of dishes such as in various curries to desserts helps to boost market growth over the forecast period. The growing adoption of coconut flour has created a demand for coconut products, including coconut flour.

A growing consumer awareness of the health benefits of consumption of coconut flour in various food dishes helps to increase the sales of coconut flour in the region. According to the study by Nielsen’s Global Ingredient and Dining-Out Trends, around 21% of Indians prefer a gluten-free diet. Also, increase in the consumer demand for plant-based ingredients due to an increase in the vegan population in the region. According to the data given by, WorldAnimalFoundation in 2022, 9% of people in India and 6% of people in China are vegan.

Competitive Landscape

The major global players in the market include Glanbia Plc, The Coco Factory, Sattvic Foods, Phildesco Inc., EuroCompany 99, Royce Food Corporation, The Coconut Company, Coco Goods, American International Foods, Inc., and Bata Foods.

COVID-19 Impact Analysis

The pandemic disrupted global supply chains, including those in the agricultural and food industries. Restrictions on movement, lockdowns, and labor shortages affected the production and distribution of coconut flour. Many coconut-producing regions depend on manual labor for harvesting and processing. Pandemic-related restrictions and health concerns led to labor shortages, impacting the production and processing capacity of coconut flour.

Movement restrictions, reduced air cargo capacity, and shipping disruptions affected the transportation of coconuts and coconut products, potentially leading to delays and increased costs. International trade was impacted by the pandemic. Exporting and importing coconut flour have faced various hurdles due to trade restrictions, shipping delays, and customs-related issues.

Russia-Ukraine War Impact Analysis

The conflict in Ukraine disrupts supply chains and logistics networks, leading to challenges in sourcing and transporting various goods, including ingredients like coconut flour. While coconut flour is primarily produced in tropical regions, global supply chains are affected by geopolitical instability and changes in transportation routes.

Geopolitical tensions lead to currency exchange rate fluctuations. These fluctuations impact the cost of importing and exporting coconut flour, especially for businesses that engage in international trade like coconut flour. In some regions, geopolitical events influence consumer preferences and purchasing decisions. If there is a strong anti-Russia sentiment in a particular market, it leads to a reduction in the purchase of Russian-produced coconut flour or any products with perceived links to Russia. Similarly, shifts in Ukraine's trade relationships influence consumer choices.

By Form
• Low Fat High Fiber Flour
• Medium Fat Flour
• Whole Full Fat Flour

By Nature
• Organic
• Conventional

By Distribution Channel
• Supermarkets and Hypermarkets
• Grocery Stores
• Specialty Stores
• E-Commerce
• Others

By Application
• Snack Foods
• Baked Products
• Animal Feed
• Extruded Products
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On June 21, 2023, Arva Flour Mills, North America’s oldest flour mill announced the launch of gluten-free products under the Arva flour mills brand. The company sells its products at its retail store and on website www.arvaflourmill.com.
• On March 01, 2020, Bob’s Red Mill completed a partnership with the Fair-Trade USA. Bob’s Red Mill announced that its Flaked, Shredded and Macaroon Coconut varieties and Coconut Flour is now Fair Trade Certified.

Why Purchase the Report?
• To visualize the global coconut flour market segmentation based on form, nature, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of coconut flour market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global coconut flour market report would provide approximately 61 tables, 59 figures and 190 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies