Market Size of Desiccated Coconut Powder Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.45 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Desiccated Coconut Powder Market Analysis
The desiccated coconut powder market is projected to register a CAGR of 7.45% during the forecast period, 2021-2026.
On the one hand, the COVID-19 pandemic has made a significant impact on the desiccated coconut powder market due to the halt in production and disturbance in the supply chain owing to which the various end-user industries of the category such as bakery, dairy product, frozen dessert, etc., accounted decline in production hence directly impacted the end-user as well as desiccated coconut industry.
For example, the Gaja cyclone in 2018 and the incidence of Rugose Whitefly in 2019, coupled with the COVID-19 pandemic, had a detrimental impact on coconut farmers, and they had to incur additional costs due to scarcity of laborers and challenges in transportation. This has further affected the market for processed coconut products at an industrial level.
In the medium term, the growth in the consumption of coconut-based products among consumers is expected to drive the use of coconut-based products in food and beverage applications in the future. Sales of coconut-based ingredients, such as coconut powder, are growing, and these products are widely used as ingredients in various processed food products.
Moreover, increased demand for organic food products due to the absence of chemicals used across the supply chain provides new opportunities for coconut-based food products. According to the Research Institute of Organic Agriculture (FiBL), organic food sales increased by 51.03% in 2018, compared to 2011, and reached USD 95 billion. Therefore, advantages offered by organic desiccated coconut powder are expected to boost the growth of coconut-based food products on the retail shelves and at the industrial scale during the forecast period.
