PUBLISHER: Grand View Research | PRODUCT CODE: 1575143
PUBLISHER: Grand View Research | PRODUCT CODE: 1575143
The global desiccated coconut market size is expected to reach USD 12.50 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 3.6% from 2024 to 2030. Consumers are increasingly seeking natural and unprocessed food ingredients, driving up demand for desiccated coconut, especially in health-conscious markets. Its role as a natural component in various food products aligns with the growing preference for clean-label and organic items.
The global food and beverage industry's expansion, particularly in the bakery, confectionery, and dairy sectors, is boosting the demand for desiccated coconut. Valued for its texture, flavor, and nutritional benefits, it has become a popular ingredient in these categories.
The rise of plant-based and vegan diets is further fueling the market's growth. As a natural, plant-based ingredient, desiccated coconut is widely used in vegan and vegetarian recipes, from snacks to desserts. In addition, due to its natural oils and exfoliating properties, desiccated coconut is finding increasing use in the cosmetics and personal care industry, opening new applications beyond the food sector.
The health benefits of desiccated coconut-rich in dietary fiber, healthy fats, and essential nutrients-are significant drivers of its demand. Marketed as a superfood, it appeals to health-conscious consumers. The rising consumption of packaged and processed foods, particularly in emerging markets, is also driving demand, with desiccated coconut featured in ready-to-eat snacks, baked goods, and confectionery products.
Globalization has enhanced the export of desiccated coconut to markets worldwide, with major producing countries like the Philippines, Indonesia, India, and Sri Lanka capitalizing on growing international demand. Manufacturers are innovating by introducing new forms of desiccated coconut, such as flavored or roasted variants, to meet diverse consumer preferences. This innovation is broadening the market's appeal and attracting a wider range of consumers.