Coconut
spread is a healthy food made from dried coconuts flesh. Coconut
spread or jam is made from coconut milk base, sugar, and eggs.
Coconut spread and jams are famous in countries in South Asia such as
Philippines, Malaysia, Singapore, Indonesia etc. Coconut spread or
jam is used in food industry for preparing pancakes, waffles etc.
Coconut spread is consumed by health conscious consumers as it is a
source of dietary fibers and also contains auric acid which is good
for health. Pure coconut spread can be stored at room temperature, on
heating, it becomes pourable and silky. As being healthy, vegan, and
tasty option for other expensive spreads coconut global spread market
is expected to grow at a significant rate over the forecast period.
Market
Segmentation: Coconut spread
The
coconut
spread market
is segmented on the basis of distribution channel as supermarket/
hypermarket, convenience stores, online store. Growing popularity of
coconut spreads and coconut jams in consumers is increasing demand
for coconut spreads and jams and coconut spread-based products. As a
result of increasing demand, manufacturers are making their products
available through various online stores.
The
coconut spread market is further segmented on the basis of different
flavors available in the market such as honey, chocolate, vanilla,
mint, and others. As a result of sweet taste and flavor coconut
spread application in the various food industry is increasing, in
turn fueling market demand in global market. In order to increase the
product portfolio and variety of coconut spreads manufacturers are
focusing on launching flavored coconut spreads in the market.
The
coconut spread market is segmented on the basis of application in the
food industry as preparation of mayonnaise, spreads, coffee creamer,
coating, butter etc. Coconut spread can be used to prepare egg-free
mayonnaise to be used in salad dressings, sandwich and as a dip for
veggies. Coconut spread is used in the preparation of coconut butter
which then can be used in the spread, coffee creamer for consumers.
Coconut spread can be used as a coating for chocolate and ice-creams
or used as toppings for desserts these versatile applications are
fueling its demand in global market.
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Global
Coconut spread Market: Regional Outlook
Depending
on geographies global coconut spread market is segmented into five
key regions: North America, Latin America, Europe, Middle East and
Africa and Asia Pacific. Coconut spreads are most popular in Asia
Pacific market, mainly in Malaysia, Indonesia, Singapore, Philippines
etc. In Malaysia, Singapore and Indonesia coconut spread are used as
topping for many food products such as deserts. Thus, Asia Pacific
grabs major market shares of global coconut spread market in terms of
consumption as well as production. Production of coconut spread is
growing fast due to easy availability of coconuts as well as
increasing demand from the global market. Due to easy availability of
coconuts, Sri Lanka is one of the major producers of coconut spreads
and jams in amongst Asia-Pacific countries.
Global
Coconut spread Market: Drivers and Trends
Coconut
spread is used in food industry as a topping for desserts, coffee
creamer etc. which is gaining demand globally driving the global
market for coconut spreads. Manufacturers are focusing on launching
flavored coconut spreads such as honey based coconut spread, vanilla
coconut spread, chocolate coconut spread etc. to cater to rising
demand of coconut spreads from consumers. Growing number of the
health-conscious consumer looking for healthy and tasty food options
is another factor fueling the growth of the coconut spread global
market. Increasing sale of coconut spreads and jams on online stores
as well as in convenience stores plays a key role in growing coconut
spread and jam market globally.
Global
Coconut spread: Key Players
Some
of the key players identified across the value chain of the global
coconut spread market include Nikki's Coconut Butter, Nutiva, Inc.,
Cocomi Bio Organic, CocoVie Naturals, Windmill Organics, AYAM SARL.,
Marina foods (Pvt) Ltd., Mayvers, Ecoideas etc.
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