Research Nester published a report titled “Creamed Coconut Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the creamed coconut market in terms of market segmentation by distribution channel, source, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global creamed coconut market is anticipated to record a CAGR of ~7% throughout the forecast period, i.e., 2022-2030, owing to the extensive usage of creamed coconut in cooking, baking and as a dairy-free alternative to milk products. Furthermore, creamed coconut is widely used in personal care industry as it is considered to be a great substitute to the artificial chemicals which are used as an ingredient in personal care products, which in turn is expected to drive market growth in the near future.
The market is segmented by distribution channel, source and end user. Based on end user, the segment for cosmetics & personal care industry is anticipated to witness a huge growth on the back of rising usage of coconut-related products in the industry. In addition, creamed coconut is used for the manufacture of many hair conditioners, deodorant agents and body lotions, which in turn is estimated to drive the growth of the market segment in the coming years.
Based on the regional analysis, the creamed coconut market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market for creamed coconut in Asia Pacific is expected to witness the maximum growth during the forecast period owing to the rising usage of coconut-based products and increasing consumer awareness regarding the benefits of coconut in the region.
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Rising Trend of Veganism Around the World to Drive Market Growth
The demand for creamed coconut is increasing as the adoption of veganism is rising all across the world. Furthermore, the product is considered to be a new entrant in the breakfast market as people are using this as a substitute of traditional milk-based butter. This is one of the most crucial factors projected to expand the market in the future.
However, concerns regarding the disease associated with the plantation of coconuts is expected to operate as a key restrain to the growth of creamed coconut market in the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global creamed coconut market which includes company profiling of Jaindi Exports (Pvt) Ltd, GloryBee, Renuka Foods PLC, Edward & Sons Trading Co., AB World Foods Limited, Lucy Bee Beauty, The Bart Ingredients Company Ltd, Rapunzel Naturkost GmbH, KTC Edibles, Tropical Sun Foods, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the creamed coconut market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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