The value of the global desiccated coconut powder market was around 4.76 billion US dollars in 2022, and it is anticipated that this value will increase to approximately 6.34 billion US dollars by 2030, at a compound annual growth rate (CAGR) of approximately 3.82% between 2023 and 2030.
Desiccated Coconut Powder Market: Overview
The flesh of fully developed coconuts is used in the production of desiccated coconut. It is then graded or shredded into pieces that are very thin and very small. The chunks of this variety of coconut are often dried using sunshine or heated air in order to remove the moisture content that is contained within them. The form of coconut that results from this process is known as desiccated coconut. It has a flavour that is sweet and has a little nutty aftertaste, and the texture is quite grainy. When the desiccated coconut is made into powder form, the product is finely processed into a coherent powder form. The key difference between the shredded form and the powder form is the texture of the final product. When it is in powder form, the consistency is similar to that of a fluffy powder.
The convenience and adaptability of desiccated coconut in powder form, which can be used in a wide variety of recipes, is the primary factor driving the growing popularity of this product. Because it is in powder form, it may be equally dispersed and absorbed by the other components of the recipe. The product, marketing, and distribution of desiccated coconut powder fall under the purview of this industry, which is anticipated to expand at a rate that is relatively constant over the time of the forecast.
Desiccated Coconut Powder Market: Growth Drivers
The Food and Beverage (F&B) industry is expanding, which will boost market growth.
It is anticipated that the global market for desiccated coconut powder would expand as a result of the growing food and beverage industry in every region of the world. This variety of dried coconut is utilised in the production of a vast assortment of commodities, such as baked goods, confectionery, cereals, snacks, and beverages. Because of the many positive effects that consuming a desiccated coconut in powder form has on one’s health, diet culture in many areas of the world includes the inclusion of desiccated coconut in its powdered form.
Desiccated Coconut Powder Market: Segmentation
The global market for desiccated coconut powder can be broken down into four distinct submarkets: distribution channel, end user, application, and geography.
The global market can be broken down into several different segments depending on the application, including dairy products, bakery, frozen desserts, confectionery, and others. The industry saw the most expansion in the bakery sector, where it is used in the production of a variety of baked goods such as bread, cakes, cookies, pastries, muffins, and other items. This contributed to the industry’s overall expansion. The baked goods’ overall appearance and taste are improved as a result of the rich flavour of coconut as well as the smooth texture of coconut, which eventually has an effect on how popular the baked goods are and how much of them is consumed. In applications involving dairy products, desiccated coconut powder is utilised to boost the nutritional value of the product that is ultimately produced. For instance, it is used in the production of yoghurt-based sweets such as coconut-flavoured yoghurts, yoghurt parfaits, and yoghurt bars, all of which contain yoghurt in some form. In addition to that, it is sometimes included as an ingredient in ice cream and other types of frozen sweets. According to the Indian Brand Equity Foundation, India’s coconut product rate climbed by 31.45% between 2021 and 2022. This was revealed by the organisation.
Desiccated Coconut Powder Market: Regional Analysis
Asia-Pacific to hold its dominance during the forecast period
The global desiccated coconut powder market is expected to witness the highest growth in Asia-Pacific with countries such as India, Indonesia, Sri Lanka, Thailand, and the Philippines holding dominance over the majority of the regional share.
The high production rate of coconut in these territories is the main reason for the higher CAGR in Asia-Pacific. India is one of the largest producers and exporters of coconut and the products derived from it. In 2022, India exported coconuts worth more than USD 393 million and this registered an export growth of nearly 41% from the previous year.
Desiccated Coconut Powder Market: Competitive Analysis
The global desiccated coconut powder market is led by players like:
Marudhar Foods Pvt. Ltd.
Primex Coco Products Inc.
Royce Food Corporation
Celebes Coconut Corporation
Meghna Group of Industries
Pacific Eastern Coconut Utama
Sri Lanka Export Development Board
Adamjee Lukmanjee & Sons Pvt. Ltd.
Cocoguru Coconut Industries Pvt. Ltd.
PT Global Coconut
Goya Foods Inc.
Sun Bio Naturals India Pvt. Ltd.
Q.B.B. Pure Ghee
QRS Retail Ltd.
ZICO Beverages LLC
P.T. Grand Multi Chemicals
Farmvilla Food Industries Pvt. Ltd.
The global desiccated coconut powder market is segmented as follows:
Food Service Industry
Food & Beverage Industry
By Distribution Channel
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of The Middle East & Africa
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