Coconut Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Coconut Products Market segmented by Type (Coconut Oil, Coconut Water, Coconut Milk, Desiccated Coconut, and Other Product Types); Distribution Channel (Supermarkets/Hypermarkets, Convenience/Grocery Stores, Online Retail Stores, and Other Distribution Channels); and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market size and forecasts in value (USD million) for the above segments.

Coconut Products Market Size

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Coconut Products Market Size
Study Period 2019 - 2029
Market Size (2024) USD 4.96 Billion
Market Size (2029) USD 7.98 Billion
CAGR (2024 - 2029) 9.98 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Coconut Products Market

*Disclaimer: Major Players sorted in no particular order


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Coconut Products Market Analysis

The Coconut Products Market size is estimated at USD 4.96 billion in 2024, and is expected to reach USD 7.98 billion by 2029, growing at a CAGR of 9.98% during the forecast period (2024-2029).

The COVID-19 pandemic has drastically affected the market. The pandemic promoted the importance of a plant-based diet and alternative protein to maintain a healthy immune system. In addition, the market witnessed rising consumer interest in cooking and baking at home, which has led to the increased demand for plant-based dairy products such as coconut milk and cream. Another factor influencing the growing demand for plant-based milk is the increased number of people working from home. There has also been an increased interest in halal-certified and clean-label plant-based food and dairy alternatives. The covid-19 pandemic has encouraged companies to invest in online retailing. Koita, a Dubai-based manufacturer of non-dairy milk reported that online sales of the company rose by 370% over the Covid-19 pandemic in 2020. Further, the company states that in Saudi Arabia, the firm's sales have shot up 300% during the pandemic, with online orders primarily conducted by Whatsapp.

The growing consumer concerns associated with the consumption of conventional dairy-based food and beverage products and the adoption of vegan diets due to rising health awareness are expected to drive the growth in coconut products. As the organic industry continues to grow, the demand for food and beverages manufactured out of organically produced/procured ingredients has increased. Food products made from organic coconut products which contain very high nutritional content because they do not contain modified ingredients compared to conventional agricultural food products. Organic coconut also shows increasing growth in the form of oil, milk, desiccated coconut, cream, and water.

Industry participants are investing in Research and Development (R&D) and innovation activities to develop a new range of coconut products and coconut water brands are being used to attract the attention of millennial consumers who are increasingly seeking better-for-health alternatives in the carbonated beverage category.

Coconut Products Market Trends

This section covers the major market trends shaping the Coconut Products Market according to our research experts:

Growing Adoption of Vegan and Flexitarian Diet

The market growth is attributed to the increasing consumer awareness about the health benefits associated with plant-based food. This incremental shift toward a plant-based diet is primarily influenced by ecological concerns, health consciousness, ethical or religious beliefs, environmental issues, and animal rights awareness. Furthermore, improved animal welfare and increasing government initiatives influence consumers to adopt vegan diets. For instance, in 2020, the Government of India launched the '#EatRightIndiacampaign' and requested Indians to opt for plant-based foods for sustainable living and to fight against climate change. In addition, consumers who cannot choose a completely vegetarian diet practice are adopting the flexitarian lifestyle to incorporate plant-based food alternatives like coconut products. For instance, a consumer study conducted by Berlin-based plant-based supermarket chain Veganzin 2021 reveals that around 22% of Europeans are flexitarians, whereas Germany, Portugal, and Austria exhibit large numbers of flexitarian consumers. Regardless of classification criteria, reasons, or types, the number of vegans worldwide is on the rise, driving the demand for plant-derived food products, including coconut products. Globally, the data cited by several global institutions indicates that the transition to a vegan lifestyle has happened over the past few years. Many countries have witnessed the rise in vegan consumers, especially over the past decade. Therefore, health benefits, easier digestion, and nutritional values of a plant-based diet are key factors driving the demand for coconut products worldwide.

Coconut Products Market Trend-1

North America Dominates the Market

The North American region is the largest market because of the rising demand for coconut products. Growing lactose intolerance among consumers boosts the manufacturers of dairy alternatives, like coconut milk and cream. As per the data from the National Institute of Diabetes and Digestive and Kidney Diseases, in the United States, about 36% of people have lactose malabsorption. This factor is fueling the market for coconut milk and cream. Ready to drink coconut milk category is driving the studied market in Mexico, people are becoming more health conscious, and the ready-to-drink coconut milk is giving tough competition to the high sugar content soda products. As per the data from the International diabetes federation, In 2021, 14 million adults in Mexico will be living with diabetes, which is a 10% rise in the past two years. This factor pushes consumers towards healthy alternative drinks, and coconut drinks are one of the leading categories. In addition, the processors are seeking fair trade certifications for coconut products, including milk and cream. The increasing adoption of powdered forms as one of the economic alternatives, with a higher shelf-life for coconut milk, is driving the demand from the bakery, confectionery, and other segments. In February 2022, Harmless Harvest, a manufacturer of organic coconut-based food and beverage products, expanded its operation in Canada by introducing famed Organic Coconut Water in the Costco Western Canada Region.

Coconut Products Market_2

Coconut Products Industry Overview

The Global coconut products market is highly competitive with the presence of several regional players as well as some global players in markets across different regions. The players with significant market shares include Vita Coco Inc, ZICO Beverages, Ducoco, and Coco do Vale. Companies are focusing on various corporate strategies to enhance their consumer base and geographical presence in the market. The companies have been active in the coconut products market. For instance, in December 2020, Vita Coco released Choc-o-lot, a chocolate drink made of coconut milk and vegan. This contains less than 100 calories. Choc-o-lot is rich in potassium and immune-supporting vitamin C. The companies also focus on developing an extensive distribution channel to gain a competitive advantage in the coconut products market. Furthermore, consumers' economies of scale and high brand loyalty give these companies an upper edge in the market.

Coconut Products Market Leaders


  2. Ducoco Alimentos SA


  4. Coco do Vale

  5. PT. Pulau Sambu

*Disclaimer: Major Players sorted in no particular order

Vita Coco, Sambu Group, Marico Company, Celebes Coconut Corporation, The Coconut Company
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Coconut Products Market News

  • In May 2022, Danone announced the launch of Alpro, its second dairy-free brand in China after Vega, to tap the emerging plant-based food market. The brand offers coconut milk, among other products.
  • In January 2022, Vita Coco partnered with Lyft to offer discounts on rides home and hydrating coconut water. They claimed that the partnership is to keep consumers hydrated.
  • In February 2021, Los Angeles-based growth-equity investor PowerPlant Ventures announced its acquisition of ZICO coconut water from The Coca-Cola Company.

Coconut Products Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Product Type

      1. 5.1.1 Coconut Oil

      2. 5.1.2 Coconut Water

      3. 5.1.3 Coconut Milk

      4. 5.1.4 Desiccated Coconut

      5. 5.1.5 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/Hypermarket

      2. 5.2.2 Convenience/Grocery Stores

      3. 5.2.3 Online Retail Stores

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.3.2 Europe

        1. Spain

        2. United Kingdom

        3. Germany

        4. France

        5. Italy

        6. Russia

        7. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Indonesia

        6. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle-East and Africa


    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 ZICO BEVERAGES

      2. 6.4.2 Ducoco Alimentos SA

      3. 6.4.3 THE VITA COCO COMPANY, INC.

      4. 6.4.4 PT. Pulau Sambu

      5. 6.4.5 Coco do Vale

      6. 6.4.6 Dabur Company

      7. 6.4.7 Coco Colima SA

      8. 6.4.8 The Coconut Company

      9. 6.4.9 Celebes Coconut Corporation

      10. 6.4.10 Danone S.A.

    5. *List Not Exhaustive


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Coconut Products Industry Segmentation

Coconut products are those products that have been extracted from coconut. These are natural products, and presently consumers are using these products for several purposes, including culinary applications. The coconut products market is segmented by Product Type into Coconut Oil, Coconut Water, Coconut Milk, Desiccated Coconut, and Other Product Types. By Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience/Grocery stores, Online Retail Stores, and Other Distribution Channels. By Geography, the market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Product Type
Coconut Oil
Coconut Water
Coconut Milk
Desiccated Coconut
Other Product Types
By Distribution Channel
Convenience/Grocery Stores
Online Retail Stores
Other Distribution Channels
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa
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Coconut Products Market Research FAQs

The Coconut Products Market size is expected to reach USD 4.96 billion in 2024 and grow at a CAGR of 9.98% to reach USD 7.98 billion by 2029.

In 2024, the Coconut Products Market size is expected to reach USD 4.96 billion.

ZICO BEVERAGES​, Ducoco Alimentos SA, THE VITA COCO COMPANY, INC. , Coco do Vale and PT. Pulau Sambu are the major companies operating in the Coconut Products Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Coconut Products Market.

In 2023, the Coconut Products Market size was estimated at USD 4.51 billion. The report covers the Coconut Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Coconut Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Coconut Products Industry Report

Statistics for the 2024 Coconut Products market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Coconut Products analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Coconut Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)