Rising demand for coconutderivatives in the cosmetic and pharmaceutical industries is likely to bethe major driving factor for the global coconut derivatives market. FortuneBusiness Insights, in its report, titled “Coconut Derivatives Market Size,Share and Global Trend by Type (Coconut Oil, Coconut Water, Coconut Milk), ByNature (Conventional, Organic), By Application (Food & Beverage,Cosmetics), And Geography Forecast till 2026”, shares crucial market analysisand highlights the key factors that will play an influential role during theforecast period.
Coconut derivatives refer to different products that arederived or extracted from coconuts and have commercial value. The mostwell-known products include coconut oil, coconut milk, and coconut water. Someother, lesser known derivate products include coconut flour and coconut sugar,which are slowly marking their market presence.
Inherent MedicinalProperties of Coconut Water to Boost Market Growth
The global coconut derivatives market is slated for animpressive growth period owing to the medicinal properties that are inherent incoconuts. For example, coconut water is loaded with multiple health benefitssuch as serving as helping clear kidney stones, controlling blood sugar,reducing blood pressure, having antioxidants, and many more. Moreover, coconutwater can be a viable substitute to aerated drinks and other processed,sugar-laced beverages. This will open up a new section of consumers which willaid the global coconut derivatives market expansion. It will also make coconutwater as the most promising market segment in the forecast period.
Wide Ranging BeautyBenefits to Spur the Demand of Coconut Oil in the Cosmetic Industry
Coconut oil is gaining popularity in the personal care andcosmetic industry as a naturally available ingredient for beauty care products.This is owing to the variety of health benefits that the product carries. Forexample, coconut oil can penetrate the hair follicles due to its low molecularweight and fatty acid structure, nourishing the hair and stimulating hairgrowth. Coconut oil can also treat skin problems such as psoriasis and eczema.These factors bode well for the global coconut derivatives market asapplicability of coconut derivatives increases in scope.
Declining CoconutProduction in Asia to Hinder the Market
Production of coconuts and their derivatives in the Asiancountries of the Philippines, Indonesia, and India, which account for more than70% of the world production of coconuts, is expected to fall in the comingdecade. This is predicted on the basis of ageing process of coconut plantswhose productive life is between 30 and 40 years. This can put seriousrestrains on the market potential of coconut products.
Furthermore, climate change is expected to severely hampercoconut production, especially in coastal countries. For example, according toestimates calculated by IRI and The Earth Institute, Sri Lanka could faceeconomic losses ranging between 32 and 73 mn owing to erratic climateanomalies. These factors will impede the global coconut derivatives marketgrowth.
Launch of NovelProducts to Characterize Market Competition
Key market players are expected to ramp up the competitionthrough launch of new and innovative products, especially in the food andbeverages segment. For example, Celebes Coconut Corporation has developed aunique organic coconut juice that is fat free, has a low calorie count, and isfull of electrolytes. Such innovations are expected to make the global coconutderivatives market more dynamic and lucrative.
Asia-Pacific toExhibit Sizeable Growth; North and Europe to Lead
Among regions, North America and Europe are predicted toincrease market revenue on account of rapidly rising consumption of coconutderivatives in the cosmetic and food and beverage industries. Asia-Pacific isexpected to capture an impressive share in the global coconut derivativesmarket till 2026. The main reasons being growing production of coconutderivatives and rising awareness of the health benefits of the products.
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https://www.fortunebusinessinsights.com/industry-reports/coconut-derivatives-market-100540
