Europe Coconut Products Market Outlook to 2029: Growth Journey from a Tropical Fruit to a Commodity Valued Across the World - Coconut Oil Leads the Way
European consumers' awareness of and desire for products sourced sustainably and ethically has had an impact on the coconut business.
DUBLIN, Feb. 15, 2024 /PRNewswire/ -- The "Europe Coconut Products Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
The last ten years have seen a notable increase in the demand for coconut products throughout Europe. With a wide range of applications and advantages, the coconut's adaptability has helped it grow from a tropical fruit to a commodity valued around the world. A rising market that meets the needs of consumers seeking natural and sustainable products as well as those with gastronomic preferences has been formed by the continent's embrace of coconut-based items. In this surge, coconut oil is leading the way.
Its use in cosmetics, personal care products, and even medications has grown in popularity beyond its use in food. Coconut oil has become a popular substitute for unhealthy cooking, baking, and frying oils in European kitchens due to its numerous health advantages and high smoke point. Further, its rich moisturizing properties have made it a sought-after ingredient in skincare and hair care products across the continent. A variety of coconut-based products have been introduced as a result of innovation in the European snack and dessert sectors.
The culinary scene has been enhanced with a variety of coconut-infused treats that appeal to individuals looking for both indulgence and healthy options. These treats range from coconut chips and snacks to rich coconut-based sweets like macaroons, ice creams, and cakes. European consumers' awareness of and desire for products sourced sustainably and ethically has had an impact on the coconut business. Many businesses have made a commitment to fair trade principles, making sure that the coconuts used in their products are sourced ethically and helping the communities and farmers in the areas where coconuts are grown.
The European Coconut Products market is anticipated to add more than USD 2 Billion from 2024 to 2029. Coconut products have experienced a spectacular surge in popularity in Europe as more and more consumers look for better options for their diets and lifestyles. The market for products derived from coconuts has grown rapidly in the area due to growing knowledge of the health advantages of consuming coconuts. The need for coconut-based substitutes has increased across a range of industries due to the trend toward organic and natural products. Europe's health-conscious consumers are taking notice of the advantages that coconut products offer.
Due to its well-publicized benefits, including its medium-chain triglycerides (MCTs) and possible effect on metabolism, coconut oil is becoming more and more popular among people looking for healthier cooking options. In addition, the advent of coconut water as a naturally occurring, electrolyte-rich beverage has made it the preferred choice for athletes and individuals focused on hydration and wellness. The world's biggest importer of desiccated coconut is Europe. In Europe, desiccated coconut is a common ingredient in confections and bakeries.
The expanding popularity of Asian food, consumer interest in plant-based, gluten-free, and keto diets, and the widespread usage of coconut in food products are the main drivers of the demand for desiccated coconut. A significant importer of desiccated coconut is Europe. 93,000 tons of imports from outside of Europe were imported in 2022. The desire of the European market for creative, premium coconut goods has led to a great deal of research and development. Academic, industrial, and agricultural sectors have collaborated to improve growing methods, product quality, and discover new applications for coconut derivatives. The goal of this R&D investment is to continuously enhance goods and support the expansion and sustainability of the European coconut sector.
Major Drivers
- Increasing consumer awareness and demand for healthy products: Consumers rising awareness of health and wellness had a huge impact on the European coconut goods market. Because of their nutritional benefits, such as high fiber content, good fats, and important vitamins, coconut-based products are considered natural and healthier choices. Demand for coconut products such as coconut water, coconut oil, and coconut-based snacks are increasing as consumers grow more health-conscious.
- Rising interest in ethnic and exotic flavors: Coconut products fit in nicely with the increased desire for ethnic and exotic flavors in the European market. Coconut-infused meals and beverages have grown in popularity, inspired by Asian, Caribbean, and tropical cuisines. Coconut's exotic and tropical associations add to its appeal among consumers seeking unusual and unique flavor experiences.
Major Challenges
- Sustainability and environmental concerns: The increased emphasis on sustainability and environmental consciousness offers a threat to the European market for coconut goods. Consumers and regulatory agencies are becoming more concerned about the environmental impact of product sourcing and production. Coconut farming practices such as deforestation and monoculture may receive criticism, forcing corporations to embrace more environmentally friendly and sustainable practices. Meeting these expectations while retaining profitability can be a difficult task for coconut product companies.
- Intense market competition: The European market for coconut goods is characterized by fierce competition among many companies, including both domestic and foreign brands. Because of the increasing degree of competition, firms are under pressure to innovate, differentiate their products, and adopt effective marketing techniques. In a congested market, establishing a strong brand presence and maintaining client loyalty demands substantial effort and resources.
The rise of coconut oil in the European market is being driven by a convergence of health-conscious trends, flexible applications, and a growing consumer desire for natural, sustainable products. Its popularity is due to a variety of reasons that have contributed to rising demand and market expansion. Consumers are looking for healthier alternatives to traditional cooking oils as they adopt better lifestyles. Coconut oil has gained popularity as a versatile and healthier option due to its supposed health benefits, which include medium-chain triglycerides (MCTs) and lauric acid.
Because of its possible benefits to cholesterol levels and metabolism, it has been touted as a preferable alternative to traditional oils. Solid coconut goods add a distinct texture, flavor, and scent to a variety of foods, appealing to a wide range of culinary tastes. Due to its high smoke point and distinct flavor, coconut oil, for instance, is used as a substitute for other oils in cooking. Furthermore, shredded coconut and coconut cream are popular ingredients in baking, sweets, and savory dishes, boosting demand for solid coconut forms among European customers looking for a variety of culinary experiences.
When obtained sustainably, coconut products align with the European market's heightened awareness of sustainability. Consumers are eager to support items that promote sustainability, fair trade, and ethical sourcing, and solid coconut forms are frequently connected with eco-friendly production practices.
The push toward natural and sustainable beauty solutions has been a big driver. Consumers in Europe are increasingly drawn to products that contain natural, plant-derived chemicals, believing them to be safer and more ecologically friendly than their synthetic counterparts. Furthermore, the exotic and tropical associations associated with coconut-based cosmetics contribute to their growing popularity. The idea of coconuts as a sign of purity, wellbeing, and pleasure resonates nicely with the aspirational elements frequently sought for in beauty and personal care products. Furthermore, the increased awareness of sustainability and ethical consumption has fueled the use of coconut-based ingredients.
Consumers are becoming more conscious of the environmental impact of their purchases, and they are choosing products that are cruelty-free, environmentally sustainable, and ethically sourced. Coconuts, often associated with eco-friendliness due to their renewable nature and minimal environmental impact, fit well into this narrative. The adaptability and invention of the cosmetics sector have also contributed to the growth of coconut-based products. Cosmetic businesses are constantly developing new products that combine coconut-derived ingredients, leveraging its numerous benefits to meet a wide range of consumer needs.
Consumer interest and demand for healthier and more diverse food options have increased significantly. Coconut products have grown in favor among health-conscious customers due to their numerous health benefits, such as being high in nutrients, providing natural hydration, and having a wide range of culinary applications. The ease of purchasing a variety of coconut-based items, ranging from coconut water to coconut oil and coconut-based foods, at one location within supermarkets or hypermarkets appeals to this demand for healthier choices.
Furthermore, the globalization of food supply chains has increased the availability of exotic items such as coconuts and their derivatives in European markets. Hypermarkets and supermarkets frequently capitalize on this trend by offering a diverse range of coconut-based items produced from various places across the world, giving consumers choices that were previously considered niche or hard to find. The expansion of mature-stage coconut products in the European market reflects changing customer preferences, increased health consciousness, and the varied application of these products in a variety of industries.
Mature-stage coconut goods, such as coconut oil, coconut flour, coconut sugar, and coconut water, have seen an increase in demand due to a number of variables. The trend toward healthier and more natural alternatives has had a considerable impact on consumer preferences. Mature coconut goods are frequently considered to be natural, little processed, and devoid of additives or artificial components. This correlates with the growing consumer preference for clearer labels and more nutritious food options, which is driving the greater adoption of these goods.
Aspects covered in this report
- Coconut Products market Outlook with its value and forecast along with its segments
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
By Product Type
- Coconut milk & cream
- Coconut oil
- Coconut water
- Coconut desiccated /flacks /shredded
- Other
By Form
- Liquid
- Solid
By Application
- Food / Beverages
- Cosmetics
- Others
By Distribution Channel
- Hypermarket/supermarket
- Conventional store
- Specialty store
- Online retail
By Stage
- Mature
- Young
Company Profiles
- The Vita Coco Company
- Sambu Group
- PepsiCo Inc
- Zico (drink)
- Nestle S.A.
- Bayer AG
- Danone SA
- SunOpta Inc.
- The Archer-Daniels-Midland Company
- Adani Wilmar Limited
- Thai Coconut Public Company Limited
- Amway Corp
- Glanbia plc
- Goya Foods Inc
For more information about this report visit https://www.researchandmarkets.com/r/us8t7o
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