NEWARK, Del, Oct. 15, 2023 (GLOBE NEWSWIRE) -- The global coconut flour industry is anticipated to reach a valuation of US$ 2,984.2 million in 2023, driven by increased awareness of coconut’s health benefits. The trend is expected to create new opportunities for the industry, leading to a projected CAGR of 7.8% between 2023 and 2033, and reaching a total valuation of approximately US$ 6,325.6 million by 2033.
One of the major factors contributing to the growth of the coconut flour industry is the thriving food service industry. Collaborations with the food service industry, including restaurants and bakeries, can drive the adoption of coconut flour in commercial food preparation.
Exploring the use of coconut flour in the development of functional beverages like smoothies and protein shakes can cater to consumers seeking on-the-go nutrition. Promoting coconut flour as a versatile and nutritious culinary ingredient for home cooking and baking can expand its use beyond traditional applications.
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Ethical and sustainable sourcing practices for coconuts can be a selling point for manufacturers, appealing to environmentally conscious consumers. Coconut flour has a relatively low glycemic index, which means it has a slower impact on blood sugar levels, which is attractive to individuals with diabetes or those seeking to stabilize their blood sugar.
Coconuts are considered a sustainable crop because they require fewer resources and inputs compared to some other crops, which aligns with the growing interest in sustainable and eco-friendly food choices. Coconut flour is a staple in many Asian and ethnic cuisines, and its popularity is spreading beyond these regions as consumers explore diverse culinary experiences.
The trend toward personalized nutrition has led to the customization of coconut flour products to meet specific dietary needs, such as high-protein or low-carb formulations. Consumers are increasingly seeking coconut flour products with minimal processing and no additives, focusing on natural and unrefined options.
Some manufacturers are enhancing coconut flour with functional ingredients like probiotics, prebiotics, or antioxidants to boost its health benefits. The development of ready-to-eat meals and baking kits that feature coconut flour as a key ingredient can cater to consumers looking for convenient and healthy meal options.
Key Takeaways from the Industry Study
- The global coconut flour industry was valued at US$ 2,456.2 million by 2022-end.
- From 2018 to 2022, the industry demand expanded at a CAGR of 7.2%.
- The industry in Germany is expected to expand at a CAGR of 6.8% through 2033.
- By nature, the organic segment to account for a share of 13.7% in 2033.
- From 2023 to 2033, the coconut flour industry is expected to flourish at a CAGR of 7.8%.
- By 2033, the industry value of coconut flour is expected to reach US$ 6,325.6 million.
“Coconut flour can be used in skincare products like exfoliants and facial masks due to its natural exfoliating properties, offering an opportunity for expansion into the beauty industry”, remarks by Nandini Roy Choudhury Client Partner for Food & Beverages at Future Market Insights, Inc.
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Competitive Landscape
Prominent players in the coconut flour industry are Nutrisure Ltd., Bob’s Red Mill Natural Foods, The Coconut Company, Van Amerongen & Son., Smith Naturals, Celebs Coconut Corporation, Bob’s Red Mill Natural Foods, Connecticut Coconut Company, and Connecticut Coconut Company, among others.
Recent Developments:
- In 2023, Now Foods (US) announced the launch of its new coconut flour flakes product. Now Foods Coconut Flour Flakes are a convenient and easy-to-use way to add coconut flour to baked goods, smoothies, and other recipes.
- In 2022, Primal Kitchen (US) announced the launch of its new coconut flour brownies product. Primal Kitchen Coconut Flour Brownies are a gluten-free and grain-free brownie mix that is made with coconut flour, eggs, and cocoa powder.
- In the same year, So Delicious (US) announced the launch of its new coconut flour ice cream product. So Delicious Coconut Flour Ice Cream is a dairy-free and vegan ice cream that is made with coconut flour, coconut milk, and natural sweeteners.
More Valuable Insights Available
Future Industry Insights offers an unbiased analysis of the global coconut flour industry, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the coconut flour industry, the industry is segmented on the basis of end use (retail, and industrial), application (snack foods, baked products, animal feed, and extruded products), product form (low fat high fibre flour, medium fat flour, and whole full fat flour), technology (wet process, and fresh-dry process), and nature (organic, and conventional), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
The food & beverage team at Future Industry Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key Companies Profiled
- Glanbia Plc
- Ajinomoto Co., Inc.
- Cargill Inc.
- Tate & Lyle Plc.
- DuPont de Nemours, Inc.
- Puris Proteins LLC
- Fuji Oil Holdings, Inc.
- Scoular
- Innova Flavors
- Axiom Foods, Inc.
- Wilmer International Limited
- Burcon NutraScience Corporation
- AMCO Proteins
- Roquette Fréres
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Segmentation Analysis of the Coconut Flour Industry
By End-Use:
- Retail
- Conventional / Grocery Stores
- Modern Trade
- E-retailers
- Industrial
By Application:
- Snack Foods
- Polvoron
- Multi-Grain Chips
- Extruded Products
- Kroepeck
- Baked Products
- Cookies
- Bread
- Cakes
- Animal Feed
- Extruded Products
By Product Form:
- Low Fat High Fibre Flour
- Medium Fat Flour
- Whole Full Fat Flour
By Technology:
- Wet Process
- Fresh-Dry Process
By Nature:
- Organic
- Conventional
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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- The coconut milk market Share is expected to be worth US$ 1,233.4 million in 2023. The market is estimated to reach US$ 2,199.4 million by 2033, growing at a 6.3% CAGR.
- In 2023, the global coconut oil market Trend was worth US$6,049.4 million, and it is predicted to grow to US$11,684.5 million by 2033. By 2033, the global market is expected to grow at a CAGR of 7%.
- The global desiccated coconut market outlook is expected to be worth $8.2 billion in 2022 and $13.7 billion by 2032. From 2022 to 2032, the global market is expected to increase at a 5.3% CAGR.
- The global market for coconut milk-based products growth was predicted to be worth US$ 1.2 billion in 2022. As a result of changing customer tastes and increased health concerns, the sector is developing. It is predicted to produce US$ 2.74 billion in sales by 2033, with a CAGR of 7.8% from 2023 to 2033.
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