Coconut Products Industry Segment Analysis

1. Introduction to Major Types of Coconut Products

Desiccated Coconut: Desiccated coconut is coconut meat that has been shredded or flaked and then dried to remove as much moisture as possible. The end result is a dry, powdery, and flaky substance that is commonly used in cooking and baking. It can be used to add sweetness and crunch to baked goods like coconut macaroons and granola, or to provide a nutty flavor to a classic coconut cake or ice cream. It can also be used in savory dishes, such as curries and stir-fries, to add a unique flavor and texture.

Coconut Cream: Coconut cream is a concentrated cream with a paste-like consistency that is thicker and higher in fat than coconut milk. Coconut milk has a creamy taste and is an effective thickener for many dishes. This cream is a great product to add to smoothies, shakes, and Pina Coladas. Examples of recipes are Coconut Curry Sauce, Thai Fish or Chicken Curry, Coconut Cream Pie, and chocolate mousse.

Coconut Milk: Coconut milk is a white fluid obtained by straining the grated flesh of coconut meat. While coconut milk is similar in taste to coconut cream, it is not as thick and creamy. The reason for this is that, during its production, coconut milk has significantly more water added to it, resulting in a more fluid, runny consistency. Coconut milk makes a rich addition to soups, curries, and smoothies, but can also be enjoyed on its own as a milk substitute or poured into coffee or cereal.

Coconut Oil: The most common use of coconut oil is as a cooking oil used to replace heavier and less nutritious oils, such as vegetable or canola oil. For culinary purposes, coconut oil can be used for sautéing, frying, or baking, and it is a common ingredient in many traditional dishes in tropical regions. Coconut oil has naturally occurring moisturizing and hydrating properties that make it an exceptional natural alternative to more chemically-based skin and hair products.

Coconut Water: Coconut water is the clear liquid found inside a young, green coconut. Refreshing and slightly sweet in taste, it is a healthy alternative to sugary drinks and fruit juices. It’s a rich source of a variety of nutrients, especially the electrolytes potassium, sodium, magnesium, calcium and phosphorus, as well as Vitamin C, some B vitamins, protein, fibre, and antioxidants.

Others: Others include copra, coconut fiber/coir, coconut charcoal and activated carbon, coconut flesh meat, coconut vinegar, coconut sugar, coconut nectar, coconut flour, and coconut aminos.

Table Global Coconut Products Historical Revenue (M USD) by Type (2019-2024)

	2019	2020	2021	2022	2023	2024
Desiccated Coconut	780.97	730.42	869.17	963.90	1,095.57	1,155.73
Coconut Cream	3,566.98	3,239.54	3,651.83	3,892.89	4,256.63	4,665.67
Coconut Milk	1,998.17	1,775.12	2,004.44	2,088.99	2,306.35	2,502.29
Coconut Oil	4,360.45	3,812.91	4,488.23	4,629.69	4,950.33	5,596.57
Coconut Water	7,275.02	6,863.33	7,594.31	8,104.26	9,183.40	9,987.32
Others	4,035.22	3,583.44	4,177.51	4,580.86	5,023.85	5,478.98
Total	22,016.82	20,004.75	22,785.50	24,260.59	26,816.13	29,386.56

Table Global Coconut Products Forecasted Revenue (M USD) by Type (2024-2030)

	2024	2025	2026	2027	2028	2029	2030
Desiccated Coconut	1,155.73	1,307.03	1,479.73	1,614.39	1,793.52	1,862.07	2,012.16
Coconut Cream	4,665.67	5,151.02	5,577.31	5,800.56	6,227.57	6,711.55	7,030.53
Coconut Milk	2,502.29	2,704.58	2,951.77	2,996.57	3,235.47	3,455.03	3,592.00
Coconut Oil	5,596.57	5,885.03	6,209.09	6,675.63	6,980.93	7,765.17	8,081.83
Coconut Water	9,987.32	11,189.87	12,251.41	12,310.61	13,633.53	14,670.14	15,555.25
Others	5,478.98	6,057.13	6,490.90	7,161.59	7,635.90	8,119.13	8,456.57
Total	29,386.56	32,294.66	34,960.21	36,559.35	39,506.92	42,583.09	44,728.33

Each sub-type of coconut products shows a growth trend. Coconut water is popular among consumers for its rich natural electrolytes, isotonic properties, and refreshing taste, especially in the field of health and fitness. It is the largest sub-type in the market, with a market size of $7,275.02 million in 2019 and expected to reach $15,555.25 million by 2030. Coconut oil is favored by consumers for its healthy fats and versatility (including cooking and personal care), and the market size is also considerable, with $4,360.45 million in 2019 and expected to reach $8,081.83 million by 2030. Coconut shreds are used for baking and cooking. With the popularity of home baking, demand has increased, and the market size is relatively small, but there is a growth trend. Each type has different advantages and disadvantages, but in general, the improvement of health awareness and product innovation are the main factors driving market growth.

2. Introduction to Major Applicaiton of Coconut Products

Supermarket/Hypermarket: Supermarket/Hypermarket is a larger retail store offering a broader range of products, including groceries, clothing, electronics, household items, and more. Supermarket/Hypermarket is designed to be a one-stop shop for customers who want to buy everything they need in one place.

Convenience/Grocery Stores: A convenience store is a retail outlet that sells a limited range of prepared and ready-to-eat foods, bottled and fountain beverages, household staples, tobacco products and periodicals. Grocery stores specialize in the selling of food, both fresh and prepackaged, as well as nonfood household goods, such as paper towels, toilet paper, cleaning products and over-the-counter medicines.

Online Retail Stores: Online retail is a type of eCommerce whereby a business sells goods or services directly to consumers from a website. The website may be their own, or it may be owned by a larger retailer or marketplace like Amazon.

Others: Others include pop-up shops, social media sales, vending machines, farmers markets, subscription boxes, specialty food stores, food festivals, food co-ops, etc. A pop-up shop is a type of retail store that opens for a limited time in a location, like an empty retail space, an existing physical store, or a food or art market. Pop-ups can take many forms, including booths, kiosks, or compact freestanding stores. Consumers are seeking brands that cater to a variety of dietary needs and preferences. Coconut product manufacturers can attract new customers and retain existing ones by offering healthy recipe ideas and exclusive promotions and discounts. Farmers markets provide a platform for local producers to sell their fresh produce, baked goods, and other food products directly to consumers. Subscription box services offer curated selections of food products that are delivered directly to consumers’ doorsteps on a recurring basis. Specialty food stores focus on specific types of food products, such as organic, gourmet, or ethnic foods. Participating in food festivals is a great opportunity for producers to showcase and sell their specialty food products to a large audience of food enthusiasts. Food co-ops often place a strong emphasis on locally grown and produced products, contributing more money to the local economy.

Table Global Coconut Products Historical Revenue (M USD) by Application (2019-2024)

	2019	2020	2021	2022	2023	2024
Supermarket/Hypermarket	5,903.92	5,438.38	6,236.56	6,623.20	7,281.48	7,960.68
Convenience/Grocery Stores	11,048.84	9,485.64	10,301.77	11,106.59	12,177.18	13,342.03
Online Retail Stores	2,052.92	2,287.44	3,084.19	3,142.63	3,586.97	3,950.71
Others	3,011.14	2,793.30	3,162.99	3,388.18	3,770.50	4,133.15
Total	22,016.82	20,004.75	22,785.50	24,260.59	26,816.13	29,386.56

Table Global Coconut Products Forecasted Revenue (M USD) by Application (2024-2030)

The downstream application market of coconut products shows a diversified growth trend. As traditional retail channels, supermarkets/hypermarkets are still the main channels for coconut product sales, and consumers are accustomed to buying daily food and beverages in these places. The market size reached $5,903.92 million in 2019 and is expected to reach $12,251.6 million by 2030.

Among them, Convenience/Grocery Stores and Online Retail Stores are growing faster, which is in line with the rapid development of e-commerce and modern consumers’ preference for convenience and online shopping.