Coconut Butter Market - Global Industry Dynamics 2019-2020, Trends and Forecast 2021–2028

Coconut butter is derived from the meat of the coconut, or by taking dried coconut flakes or desiccated coconut and blending them to create a creamy texture. Coconut butter is a single ingredient product and is vegan, gluten-free, and dairy-free. Coconut butter is also ideal for skin, nail, and hair. It is used for conditioning the hair and skin, and also provides flexibility and shine to dry and coarse hair. Increasing the application of coconut butter is also fueling its demand globally.

Driving Factors

  • The coconut butter market is expected to witness significant demand in the upcoming years due to its health benefits. Coconut better contains lauric acid, which helps to boost immunity. Moreover, coconut butter is rich in iron and fiber. These factors are leading to the growing demand for coconut butter in the global market.

  • Furthermore, coconut butter helps to boost metabolism and aids weight loss when consumed in the right quantity. Coconut butter is also extensively used in several dishes as a condiment, or as a spread. It enhances many hot drinks, such as coffee, tea, and others.

Challenges

  • Coconut butter is dense in terms of calories and should be consumed in moderation. Growing awareness about health is limiting the demand for coconut butter in the global market and hence, is expected to restrain market growth in the upcoming years.

Key Trend

  • One of the major trends gaining momentum in the global coconut butter market is the continuous demand for organic coconut butter in place of synthetic coconut butter. The rise in the number of health-conscious consumers across geographies is leading to the demand for organic products.

Market Segmentation

  • The global coconut butter market can be segmented based on type, end-use, distribution channel, and region

  • In terms of product, the market can be classified into organic coconut butter and synthetic coconut butter. Based on end-use, the coconut butter market can be divided into residential and commercial.

  • In terms of the distribution channel, the coconut butter market can be classified into offline and online. The online channel can be sub-divided into company-owned websites and e-Commerce websites. An offline channel can be sub-divided into organized stores and unorganized stores.

  • The global coconut butter market can be classified into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Furthermore, the regions are divided into countries such as the U.S., Canada, Germany, France, Italy, U.K., GCC Countries, South Africa, China, India, Japan, and Brazil. North American market is expected to account for a major share of the global coconut butter market followed by Europe. This can be attributed to strong demand from consumers in North America coupled with the presence of a large number of players in this region.

Competition Landscape

  • The global coconut butter market is fragmented in nature. The market is witnessing the entry of new players, which is expected to intensify the competition in the upcoming years in the global market. Leading players are focusing on product innovation and distribution strategies to meet the growing demand from consumers across the globe, thereby leading to the overall growth of the market.

  • Key players operating in the global coconut butter market are Wichy Plantation Company (Pvt.) Ltd., Premier Organics Inc., Binnie’s Coconut Butter, Windmill Organics, Windy City Organics, The Hain Celestial Group, Inc., ANDY ALBAO CORPORATION, The HallStar Company, Celebes Coconut Corporation, Team Asia Corporation, Artisana Organics, Marico Limited, Peter Paul Philippines Corporation, and others

Segments:

By Type:

  • Organic Coconut Butter

  • Synthetic Coconut Butter

By Distribution Channel:

  • Online

    • Company-owned Website

    • e-Commerce Website

  • Offline

    • Organized Stores

    • Unorganized Stores

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