Market Size of Desiccated Coconut Powder Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.45 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Desiccated Coconut Powder Market Analysis
The desiccated coconut powder market is projected to register a CAGR of 7.45% during the forecast period, 2021-2026.
On the one hand, the COVID-19 pandemic has made a significant impact on the desiccated coconut powder market due to the halt in production and disturbance in the supply chain owing to which the various end-user industries of the category such as bakery, dairy product, frozen dessert, etc., accounted decline in production hence directly impacted the end-user as well as desiccated coconut industry.
For example, the Gaja cyclone in 2018 and the incidence of Rugose Whitefly in 2019, coupled with the COVID-19 pandemic, had a detrimental impact on coconut farmers, and they had to incur additional costs due to scarcity of laborers and challenges in transportation. This has further affected the market for processed coconut products at an industrial level.
In the medium term, the growth in the consumption of coconut-based products among consumers is expected to drive the use of coconut-based products in food and beverage applications in the future. Sales of coconut-based ingredients, such as coconut powder, are growing, and these products are widely used as ingredients in various processed food products.
Moreover, increased demand for organic food products due to the absence of chemicals used across the supply chain provides new opportunities for coconut-based food products. According to the Research Institute of Organic Agriculture (FiBL), organic food sales increased by 51.03% in 2018, compared to 2011, and reached USD 95 billion. Therefore, advantages offered by organic desiccated coconut powder are expected to boost the growth of coconut-based food products on the retail shelves and at the industrial scale during the forecast period.
Desiccated Coconut Powder Industry Segmentation
Coconut that has been shredded, chipped, or powdered and then dried out is called desiccated coconut. It is prepared by removing natural moisture from the coconut fruit. The desiccated coconut powder market is segmented by form, application, and geography. Based on form, the market is segmented by fine and granular. Based on application, the market is segmented by the bakery, confectionery, dairy products, frozen dessert, and other applications. Furthermore, the report takes into consideration the market in the established and emerging economies across the world, including North America, Europe, Asia-Pacific, and Rest of the World. For each segment, market sizing and forecasts have been done on the basis of value (USD million).
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| Granular |
| Application | |
| Bakery | |
| Confectionery | |
| Dairy Products | |
| Frozen Dessert | |
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Desiccated Coconut Powder Market Size Summary
The desiccated coconut powder market is experiencing a robust growth trajectory, driven by increasing consumer demand for coconut-based products in the food and beverage sector. Despite challenges posed by the COVID-19 pandemic, which disrupted production and supply chains, the market is poised for significant expansion. The growing popularity of organic food products, free from chemical additives, is creating new opportunities for coconut-based food items. These products are gaining traction on retail shelves and in industrial applications, thanks to their health benefits, including improved cholesterol levels and weight management properties. The Asia-Pacific region, a major producer and exporter of coconuts, is at the forefront of this growth, with countries like India playing a pivotal role in meeting global demand.
The market landscape is characterized by a high degree of fragmentation, with numerous domestic and international players such as Primex Coco Products, V V Industries, and VIET DELTA. These companies are actively expanding their production capacities and distribution networks to strengthen their market positions. Regulatory developments, such as India's import ban on low-priced desiccated coconut, are influencing market dynamics by potentially increasing domestic production and reducing reliance on imports. As the demand for coconut-based products continues to rise, the desiccated coconut powder market is expected to witness sustained growth, supported by favorable consumer trends and strategic industry initiatives.
Desiccated Coconut Powder Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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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 Form
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2.1.1 Fine
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2.1.2 Granular
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2.2 Application
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2.2.1 Bakery
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2.2.2 Confectionery
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2.2.3 Dairy Products
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2.2.4 Frozen Dessert
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Rest of the World
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2.3.4.1 South America
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2.3.4.2 Middle-East and Africa
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Desiccated Coconut Powder Market Size FAQs
What is the current Desiccated Coconut Powder Market size?
The Desiccated Coconut Powder Market is projected to register a CAGR of 7.45% during the forecast period (2024-2029)
Who are the key players in Desiccated Coconut Powder Market?
Primex Coco Products, VIET DELTA, V V Industries, Vittal Agro and Kapar Coconut Industries are the major companies operating in the Desiccated Coconut Powder Market.
