Coconut Products Market Growth Accelerated by Increased Demand for Plant-based Foods and Beverages
Coconut products such as coconut milk, coconut oil, coconut water and desiccated coconut are widely used in various industries like food & beverage, cosmetics, and others due to their excellent nutritional profile and various health benefits. Coconut milk is a dairy alternative rich in medium-chain triglycerides and is increasingly being used in place of dairy milk. Further, coconut oil is known for its health benefits and finds application as a cooking oil and in skin & hair care products. The global Coconut Products Market is estimated to be valued at US$ 6.07 Bn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased demand for plant-based foods and beverages has been a major factor accelerating the growth of the coconut products market. Consumers are increasingly opting for dairy and meat alternatives due to various factors such as pe...