Market Size of Coconut Cream Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.20 % |
Fastest Growing Market | Europe |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Coconut Cream Market Analysis
The coconut cream market is growing at a CAGR of 7.2% over the next five years.
Coconut cream is a type of ingredient that is used in different food and beverage ingredients to increase their nutritional quality and functionality. The market is mainly driven by the rising demand for flavoring agents used in processed foods and different cuisines and the demand for non-sweet creams in desserts and beverages among health-conscious consumers. Also, innovations with new product formulations have further fueled market growth. Consumer demand for vegan and plant-based ingredients is increasing due to which the demand for coconut cream in products like dairy alternatives and processed food products is increasing. Coconut cream acts as an emulsifier and thickener in products like mayonnaise, sauces, soups, and others that provide a unique taste and consistency to the products.
The demand for organic and non-GMO products is also increasing among consumers due to which the market players are launching organic coconut cream. Additionally, the demand for coconut cream in the personal care and cosmetics industries is also increasing. coconut cream is used in body lotions, anti-aging products, face creams, and face masks. Coconut cream provides natural moisture and smoothness to the skin. The usage of natural and organic products is increasing among consumers due to rising awareness about the use of chemical ingredients and products. Owing to this, the demand for coconut cream in personal care products is also increasing. Although the demand for coconut cream is increasing, but there is presense of alternative products in the market like oat cream, almond cream, and others which pose a restraint for the market.
Coconut Cream Industry Segmentation
Coconut cream is a type of thick cream made from coconut milk used in different food and beverages as thickeners and additives. The coconut cream market is segmented by type into whipped cream and regular cream. By category, the market is segmented into organic and conventional cream. The market is segmented by application into food and beverages, personal care and cosmetics, and others. The food and beverage segment is further classified into bakery, confectionery, snacks and savory products, condiments/sauces, dairy and dairy alternatives, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
Type | |
Whipped Cream | |
Regular Cream |
Category | |
Organic | |
Conventional |
Application | ||||||||
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Personal Care and Cosmetics |
Geography | |
North America | |
Europe | |
Asia Pacific | |
South America | |
Middle East and Africa |
Coconut Cream Market Size Summary
The coconut cream market is experiencing significant growth, driven by increasing consumer demand for vegan and plant-based ingredients. This trend is largely due to the rising awareness of health, ethical, and environmental concerns, prompting consumers to seek out organic and non-GMO products. Coconut cream is valued for its versatility in food and beverage applications, serving as an emulsifier and thickener in products such as sauces, soups, and dairy alternatives. The market is further bolstered by innovations in product formulations and the growing popularity of coconut cream in personal care and cosmetics, where it is used for its moisturizing and smoothing properties. Despite the presence of alternative products like oat and almond cream, the demand for coconut cream continues to rise, supported by the increasing production of coconuts and the availability of raw materials.
The competitive landscape of the coconut cream market is characterized by the presence of numerous domestic and multinational players, with companies like Nestle SA, Edward & Sons Trading Co., and McCormick & Company leading the charge. These companies are focusing on product innovation and strategic partnerships to enhance their market presence. Recent product launches, such as Zuma Valley's refrigerated and frozen coconut products and Creamy Creation's vegan coconut cream, highlight the ongoing efforts to meet the growing demand. The market's expansion is also reflected in the introduction of new coconut cream variants, catering to diverse consumer preferences in both food and personal care sectors. As the demand for healthy and functional foods continues to rise, the coconut cream market is poised for further growth in the coming years.
Coconut Cream Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Increasing Demand for Convenience Food
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1.1.2 Increasing Demand for Plant-Based and Organic Ingredients
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1.2 Market Restraints
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1.2.1 Presence of Counterfeit Products
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Whipped Cream
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2.1.2 Regular Cream
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2.2 Category
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2.2.1 Organic
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2.2.2 Conventional
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2.3 Application
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2.3.1 Food and Beverages
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2.3.1.1 Bakery
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2.3.1.2 Confectionery
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2.3.1.3 Snacks & Savory Products
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2.3.1.4 Condiments/ sauces
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2.3.1.5 Dairy and Dairy Alternatives
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2.3.1.6 Others
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2.3.2 Personal Care and Cosmetics
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2.4 Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia Pacific
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2.4.4 South America
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2.4.5 Middle East and Africa
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Coconut Cream Market Size FAQs
What is the current Coconut Cream Market size?
The Coconut Cream Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Coconut Cream Market?
Nestle SA, Edward & Sons Trading Co., Windmill Organics Limited, McCormick & Company, Inc. and Greenfield Products, LLC are the major companies operating in the Coconut Cream Market.