Global Coconut Cream Market 2017-2021

Overview of the global coconut cream market

Market research analysts at Technavio predict that the global coconut cream market will grow steadily during the forecast period and post a CAGR of more than 15% by 2021. This market research analysis identifies the health benefits associated with consumption of coconut as one of the primary growth factors for this market. Numerous campaigns and articles are used by the key players in this market to educate the customers about the benefits of consuming coconuts. The benefits associated with consuming coconuts are preventing obesity by speeding up metabolism and providing immediate energy.  Coconuts also provide fatty acids and fiber, which is good for health and helps in reducing sugar cravings, and improves insulin secretion and utilization of blood glucose, to name a few.

The market research report identifies the Americas as the major source of revenue for the coconut cream market during 2016, and it is estimated to retain its dominant market position until the end of 2021. The major reason behind the growth of this sector is the increasing number of consumers with lactose intolerance. Lactose intolerant consumers are unable to consume and digest the lactose present in dairy milk and related products. Consequently, the lactose tolerant consumers have started choosing coconut cream as a substitute for lactose. This leads to increased usage of coconut cream as an ingredient in various food items, which is driving the sales of coconut cream in the America.

Competitive landscape and key vendors

The market is highly fragmented with the presence of a several large and small scale vendors that compete on factors such as price, quality, innovation, reputation, and distribution. The intense competition among the vendors leads to a reduction in product prices, which will negatively affect the market’s growth and the profit margins of the vendors. The vendor operations are hampered by factors such as technological advancements and the intense competition in the market, which motivate the vendors to distinguish their product and service offerings through clear and unique value propositions.

The leading vendors in the market are -

• Celebes Coconut Corporation
• Goya Foods
• McCormick
• Nutiva
• Healthy Traditions

The other prominent vendors in the market are AB World Foods, Cocofina, Edward & Sons, iTi Tropicals, Thai Agri Foods, TIANA Fairtrade Organics, TROPICAL SUN, and Windmill Organics.

Segmentation by product type and analysis of the coconut cream market

• Organic coconut cream
• Inorganic coconut cream

During 2016, the organic coconut cream segment dominated this market. Factors such as the increased demand for organic ingredients and products that are produced without the use of harmful pesticides and insecticides contribute to the growth of this industry segment in the forecast period. Organic products are perceived to be of high quality and are a healthier option without the addition of harmful ingredients, triggering the high demand for organic products.

Segmentation by distribution channel and analysis of the coconut cream market

• Supermarkets and hypermarkets
• Convenience stores
• Specialist retailers
• Online medium

The supermarkets and hypermarkets segment dominated the market during 2016 and it is estimated to continue its market domination until 2021. The number of hypermarkets and supermarkets in developing countries is steadily increasing and the factors that influence the preference are urbanization and the convenience of shopping in the organized retail sector. The consumers also prefer the hypermarkets and supermarkets due to the ease and convenience along with various deals.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global coconut cream market?
• What are the key market trends impacting the growth of the global coconut cream market?
• What are the challenges to market growth?
• Who are the key vendors in the global coconut cream market?
• What are the market opportunities and threats faced by the vendors in the global coconut cream market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global coconut cream market? 

Technavio also offers customization on reports based on specific client requirement.