Coconut Cream Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Coconut Cream Market Analysis
The coconut cream market is growing at a CAGR of 7.2% over the next five years.
Coconut cream is a type of ingredient that is used in different food and beverage ingredients to increase their nutritional quality and functionality. The market is mainly driven by the rising demand for flavoring agents used in processed foods and different cuisines and the demand for non-sweet creams in desserts and beverages among health-conscious consumers. Also, innovations with new product formulations have further fueled market growth. Consumer demand for vegan and plant-based ingredients is increasing due to which the demand for coconut cream in products like dairy alternatives and processed food products is increasing. Coconut cream acts as an emulsifier and thickener in products like mayonnaise, sauces, soups, and others that provide a unique taste and consistency to the products.
The demand for organic and non-GMO products is also increasing among consumers due to which the market players are launching organic coconut cream. Additionally, the demand for coconut cream in the personal care and cosmetics industries is also increasing. coconut cream is used in body lotions, anti-aging products, face creams, and face masks. Coconut cream provides natural moisture and smoothness to the skin. The usage of natural and organic products is increasing among consumers due to rising awareness about the use of chemical ingredients and products. Owing to this, the demand for coconut cream in personal care products is also increasing. Although the demand for coconut cream is increasing, but there is presense of alternative products in the market like oat cream, almond cream, and others which pose a restraint for the market.
Coconut Cream Market Trends
Increasing Demand for Organic and Plant-Based Ingredients
Consumer demand for organic and natural ingredients is increasing owing to the increasing awareness about healthy and functional food. Consumers are opting for the consumption of vegan, organic, and non-GMO ingredients and products due to ethical, environmental, and health concerns. Coconut cream is used in different food and beverages like confectionery, bakery, and culinary preparations. The cream works as a thickening agent and provides stability, creaminess, shelf-life, viscosity, and water absorption to the products. The production of coconut is increasing due to which the availability of raw materials is more due to which the production of organic coconut cream is also increasing. According to Ministry of Agriculture and Farmers Welfare data from 2022, the production of coconut in India was 13.52 million metric tonnes. Over the medium term, the demand for coconut cream is expected to increase owing to the increasing demand for vegan ingredients.
Europe is the Fastest Growing Market
The demand for coconut cream is increasing in the region as the demand for healthy and functional food and products is increasing. Coconut cream is used in different dairy alternatives as well as in vegan food products as it is plant-based. Consumers are opting for the consumption of vegan and plant-based food and beverages due to ethical and environmental concerns. Coconut cream is used in salad dressings, sauces, condiments, and bakery products to increase the product's thickness and consistency. Owing to the increasing demand, the market players are launching new products in the market to cater to increasing demand. For instance, in March 2023, Costa Coffee launched vegan whipped creams that include coconut cream, oat, cream, and soy cream. Additionally, the use of coconut cream in personal care and cosmetic products is also increasing as it provides moisture and nourishment to the skin. According to Office for National Statistics data from 2021, personal care expenditure in the United Kingdom was USD 35,130 million. Over the medium term, the demand for coconut cream is expected to increase owing to the increasing usage of coconut cream in personal care products.
Coconut Cream Industry Overview
The coconut cream market is highly competitive having a large number of domestic and multinational players dominating the market. The prominent players include Nestle SA, Edward & Sons Trading Co., Windmill Organics Limited, McCormick & Company, Inc., and Greenfield Products, LLC. Innovation in products is a major strategic approach adopted by leading players. Additionally, mergers, expansion, acquisitions, and partnerships with other companies are the common strategies to enhance the company's presence and boost the market.
Coconut Cream Market Leaders
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Nestle SA
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Edward & Sons Trading Co.
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Windmill Organics Limited
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McCormick & Company, Inc.
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Greenfield Products, LLC
*Disclaimer: Major Players sorted in no particular order
Coconut Cream Market News
- In July 2023, Zuma Valley launched new coconut products in the market. The products include refrigerated whipped coconut cream, frozen coconut cream, and frozen coconut meat. The products are claimed to be USDA organic, gluten-free, and non-GMO.
- In May 2023, Creamy Creation launched new vegan coconut cream. The product claims to provide a real coconut taste in products. The cream can be used in cocktails, innovative concoctions, ready-to-drink (RTD) offerings, and carbonated drinks.
- In December 2021, Mach Consumers Resources Inc. launched a coconut cream under its brand Machcri. The company uses RSAI coconut cream with 32% fat. The cream is used in different food products like desserts, confectionery, bakery, and other products.
Coconut Cream Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increasing Demand for Convenience Food
4.1.2 Increasing Demand for Plant-Based and Organic Ingredients
4.2 Market Restraints
4.2.1 Presence of Counterfeit Products
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Whipped Cream
5.1.2 Regular Cream
5.2 Category
5.2.1 Organic
5.2.2 Conventional
5.3 Application
5.3.1 Food and Beverages
5.3.1.1 Bakery
5.3.1.2 Confectionery
5.3.1.3 Snacks & Savory Products
5.3.1.4 Condiments/ sauces
5.3.1.5 Dairy and Dairy Alternatives
5.3.1.6 Others
5.3.2 Personal Care and Cosmetics
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 South America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nestle S A
6.3.2 Edward & Sons Trading Co.
6.3.3 Windmill Organics Limited
6.3.4 McCormick & Company, Inc.
6.3.5 Greenfield Products, LLC
6.3.6 Thrive Market
6.3.7 Goya Foods, Inc.
6.3.8 Grace Foods Canada Inc.
6.3.9 Sambu Group
6.3.10 Thaitan Foods International Co,.Ltd.
6.3.11 Maya Gold Trading BV
6.3.12 Celebes Coconut Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Coconut Cream Industry Segmentation
Coconut cream is a type of thick cream made from coconut milk used in different food and beverages as thickeners and additives. The coconut cream market is segmented by type into whipped cream and regular cream. By category, the market is segmented into organic and conventional cream. The market is segmented by application into food and beverages, personal care and cosmetics, and others. The food and beverage segment is further classified into bakery, confectionery, snacks and savory products, condiments/sauces, dairy and dairy alternatives, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
| Type | |
| Whipped Cream | |
| Regular Cream |
| Category | |
| Organic | |
| Conventional |
| Application | ||||||||
| ||||||||
| Personal Care and Cosmetics |
| Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| South America | |
| Middle East and Africa |
Coconut Cream Market Research FAQs
What is the current Coconut Cream Market size?
The Coconut Cream Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Coconut Cream Market?
Nestle SA, Edward & Sons Trading Co., Windmill Organics Limited, McCormick & Company, Inc. and Greenfield Products, LLC are the major companies operating in the Coconut Cream Market.
Which is the fastest growing region in Coconut Cream Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Coconut Cream Market?
In 2024, the Asia Pacific accounts for the largest market share in Coconut Cream Market.
What years does this Coconut Cream Market cover?
The report covers the Coconut Cream Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Coconut Cream Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Coconut Cream Industry Report
Statistics for the 2024 Coconut Cream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Coconut Cream analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
