Global Desiccated Coconut Market – Overview:
Grated and unsweetened meat of a mature fruit, desiccated coconut is commonly obtained from countries in the South-east Asian region. It is also a much traded commodity. As the world witnessed development of technology and e-commerce the flavor reached new lands and became a common ingredient.
As per Transparency Market Research, the global desiccated market is at the vantage point of growth and would see both a slew of opportunities and increase in the market worth over the forecast period.
A number of factors, trends, and drivers are impacting the landscape of the global desiccated coconut market over the forecast period. Some of the prominent factors are provided below:
- Today, coconut is vastly used in bakery goods, coffee, confectionary and so on. It comes as no surprise that it is extensively used in South Asian cuisines such as Indian, Burmese, and Indonesian. Besides, it is an important part of functional beverages – an outcome of strong preference shown by the millennial populace that is demanding for variants that have health blended with taste. And, since coconut has a number of health benefits, demand is seeing a rapid upward curve.
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- Increase in disposable income and growth in the e-commerce sector is bringing the product to earlier inaccessible locations. This is a major factor underlying growth in the global desiccated coconut market. Besides, as technology advances and improves shelf life of the ingredient, growth in demand is only anticipated to grow further over the forecast period and beyond.
- The new-age consumer is highly conscious of his feeding habits and as coconut is considered rich in vitamins, and minerals, it is seeing high demand. Besides, this section of the population is also oriented towards convenience and thus opts for the desiccated version due to its ease of use in various dishes.
Desiccated coconut is a dried (a maximum of 3% moisture content), grated and unsweetened fresh kernel or meat of a coconut’s mature fruit. Desiccated coconut is used as an ingredient in food industries. Desiccated coconut is derived from coconut which is predominantly grown in Southeast Asian countries, and is traded worldwide. Since the ingredient is used in food industries such as bakery, confectionery, culinary, beverages etc., the growth and demand for desiccated coconut is has high correlation with the performance of overall mentioned food industries. Attributed to its low cholesterol or trans-fats content while rich in a variety of essential nutrient contents which includes dietary fiber, copper, manganese and selenium, the product has witnessed increased traction in global market.
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On the backdrop of continuous increase in demand for the ingredients from food industry, existing ingredient producers included desiccated coconut in their product portfolio and stimulated the global desiccated coconut market. Global desiccated is characterized by fragmented number of players, largely operating in regional markets. However, a few multinational players are strengthening their distribution network to increase market foothold in markets that has high potential and are unorganized.
Desiccated Coconut Market Segmentation:
Desiccated coconut market can be segmented on the basis of cut as:
- Regular cut
- Fine cut
- Medium cut
- Super fine cut
- Fancy cut
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Desiccated coconut has traditionally been used in a lot Asian dishes as toppings and ingredients in curries, cooked cereal and baked food. Europe is the largest importer for desiccated coconut. In Western Europe, Belgium is the major consumer for desiccated coconut followed by Germany, Netherlands and U.K. In North American region U.S. accounts for most of desiccated coconut. European market for desiccated coconut is expected to show considerably high growth. In Asia-Pacific region India, Singapore are the major consumers for desiccated coconuts.
In terms of production Philippines, Indonesia, Sri Lanka and India are the major producers of desiccated coconut. Philippines, Indonesia and Sri Lanka are the major exporters for desiccated coconut in the global market.
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