The ‘Global Coconut Extracts Market Size, Share, Trends, Growth, Key Players, Report and Forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the global coconut extracts market, assessing the market on the basis of its segments like form, end use industry, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Coconut Extracts Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2032)
Forecast CAGR (2024-2032): 16.80%
Demand for coconut extracts is rising from the food and beverage industry owing to the health benefits associated with it such as weight loss potential and improved skin and oral health advantages. Coconut extracts act as a quick source of energy which is increasing their demand from athletes globally who need it for immediate absorption and use by the body. Moreover, availability of several nutrients and fatty acids in coconut extracts help an individual maintain good health and an adequate diet while improving metabolism and cognitive function. Coconut extracts also have antimicrobial effects which aid in combatting the presence of microorganisms and enables food products to be stored for a longer time.
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Use of coconut extracts to enhance the taste and texture of food is further enhancing the growth of the coconut extracts market all across the globe. Additionally, the rising demand for ready-to-eat food products and growing application of coconut extracts in the preparation of desserts, cocktails, ice creams, cookies, puddings, and coconut jams, among others, is also contributing to the rapid growth of the market. Other properties of coconut extracts such as antioxidant properties, are increasing its demand in beauty products as it promotes healthy hair and skin of an individual.
Coconut Extracts Industry Definition and Major Segments
Coconut extract is a low-calorie ingredient obtained from coconuts which is used as a flavouring agent and a moisturising agent in various items. It is known to have a strong, sweet, and nutty flavour and is usually used in the preparation of cookies, ice creams, cakes, curries, and stews, among others. Coconut extracts are also used in cosmetics and personal care products to improve skin and hair health and texture.
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Based on form, the market is segmented into:
- Liquid
- Powder
On the basis of end use industry, the market is bifurcated into:
- Food and Beverages
- Cosmetics and Personal Care
Based on region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Coconut Extracts Market Trends
The key trends in the global coconut extracts market include advancements in technology which are leading to improved production and processing of coconut and its extracts. Governments of various countries are focussing on boosting coconut production by providing incentives to the coconut producers for planting new seedlings. The market growth is further supported by the development of new coconut extracts such as coconut squash, among other extracts, and application of these extracts in cosmetics and personal care products.
The coconut extracts market in Asia Pacific is anticipated to observe a rapid growth in the forecast period owing to the rising production rate of coconuts in countries such as the Philippines, India, and Indonesia. Due to increased production of coconut in these countries, raw materials for coconut extracts are easily available which is resulting in the growth of the overall market in Asia Pacific region. People in the region are becoming health conscious and thus are shifting their preference to fortified food products leading to an increased demand for coconut extracts. Furthermore, introduction and increasing use of coconut extracts in various Asian cuisines is further increasing the sale of coconut extracts in the region leading to the rapid growth of the coconut extracts market.
Key Market Players
The major players in the global coconut extracts market report are McCormick & Company Incorporated, Flavorganics, LLC (Elan Inc.), Sauer Brands, Inc., Herbochem, and OliveNation, LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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