Coconut cream is the mixture obtained after extraction of tender coconut flesh and pureeing it, to obtain a thick paste. Coconut cream is correspondent to coconut milk but only has a more viscous consistency and similar non-sweet taste. Coconut cream is rich in fats and is often used in spiced up curries and cuisines to add flavor and make it less spicy. The products’ growing popularity in the preparation of paleo diet and beverages like pina colada are boosting the growth of the coconut cream market. The coconut cream market also sees growth due to its usage as a non-sweet cream in many health related desserts and beverages.
Coconut Cream Market: Segmentation
The coconut Cream market can be segmented on the basis of source, end-use and distributional channel. On the basis of source, the coconut Cream market can be segmented as organic and conventional.
On the basis of end-use, the coconut Cream market can be segmented as food industry, personal care industry and commercial. The coconut Cream market in food industry can be further segmented as confectionary, sauces & spread, breakfast and others. The commercial segment can be further segmented as hotels, restaurants & cafes (Horeca), institutional Foods and households.
On the basis of distribution channel, the coconut Cream market can be segmented as direct and indirect sales. The indirect sales are further segmented as Modern trade, wholesalers, convenience stores, retailers and online retailers.
Coconut Cream Market: Drivers, Restraints, and Trends
The coconut cream market has seen steady rise in the past decade as people’s preference for coconut products has increased due to its many health benefits and also as a natural source of nutritional ingredients. The coconut cream is mostly used as a spread for household purposes and commercially, it is widely used as an ingredient in cosmetic and personal care industry. The coconut cream is less preferred due to its high fat content in the food. The coconut cream market has seen rise due to coconut cream being the flavoring as well as a cooling agent in many spicy cuisines. The macro-economic factors like the ban on the export of coconut in countries such as Indonesia is affecting the growth of the coconut cream market globally. While many regions remain dependent on the exports from tropical countries for the production of coconut related products, such moratoriums may hamper the growth of the coconut cream market. The coconut cream market is based on the demand side factor as for its application in the food industry, it is influenced by consumer taste and preferences. The availability of substitutes for coconut cream is likely to affect the growth of the coconut cream market in the forecast period.
Coconut Cream Market: Regional Outlook
The usage of coconut cream in the preparation of modern drinks and traditional diets may boost the sales of the coconut cream market. Also, the usage amongst health-consumers as low-sweet cream alternative is also likely to boost the sales of the coconut cream market. Macro-economic factors like approval of coconut cream as a low fat product is hindering the growth of the market in Europe. Use of natural products which are healthy for and consumers’ awareness and literacy may help the growth of the coconut cream market. The coconut cream market is expected to grow in tropical regions where there is more production of coconuts. The coconut Cream market in Asia Pacific sees maximum growth as consumers are well aware of the benefits of coconut and the use coconut products traditionally has boosted the growth of this market. The consumers in Asia Pacific are expected to prefer the use of coconut cream more readily and this is a major driver for the growth of coconut cream market in Asia Pacific. In the regions for Middle East and Africa, the African countries are highly dependent on agriculture and their related products for the growth of their economy, and hence coconut cream market is also expected to grow in this region.
Coconut Cream Market: Key Players
- Celebes Coconut Corporation
- Wild Harvest Organics
- THAITAN FOODS INTERNATIONAL CO,.LTD.
- Goya Foods, Inc.
- Edward & Sons.
- Maya Gold Trading BV.
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