The Middle East coconut products market comprises products derived from the coconut palm, such as coconut water, coconut oil, coconut milk powder, and others. Coconut products market offers several health benefits such as nourishment, hydration, nutrition, and benefits for heart health and skin care. Growing prevalence of lifestyle diseases and health issues like obesity is stimulating consumer demand for natural and healthy coconut products. The wide range of uses of coconut oil, coconut milk, and coconut water in food and beverages is augmenting demand from food manufacturers.
The Middle East coconut products market is estimated to be valued at US$ 1115.91 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Middle East coconut products are Thai Coconut Public Company Ltd., Vita Coco (All Market Inc.), Coco Veda Natural Products Inc., The Coconut Company Ltd., Merit Food Products Co., Ltd., Thai Agri Foods Public Company Ltd., Linaco, Marico Ltd., Hero Nature Products Pvt Ltd., and Chef’s Choice Foods Manufacturer Co. Ltd. These key players are focusing on new product launches, facility expansion and collaborations to strengthen their market presence. The key opportunities in the market include growing demand for organic and non-GMO certified coconut products, emergence of innovative products involving coconut derivatives and integrating coconut products in cosmetics and personal care items. Emerging economies in the Middle East like Saudi Arabia, United Arab Emirates, and Qatar offer high potential for global players looking to expand and gain market share in the region.
Market Drivers and Restrains
The primary driver boosting the Middle East Coconut Products Market Demand is increasing health aware consumer base looking to add coconut-based foods and beverages in their diets due to associated health benefits. Coconut oils and coconut milk powders can substitute dairy and whey-based protein powders and are thus witnessing rising demand from vegan and lactose intolerant population. However, price fluctuation of raw materials especially coconut and coconut oil and high dependence on seasonal harvests are major challenges faced by processors and manufacturers. Strict cultural beliefs and certain product regulations in some Middle Eastern countries also act as a restraint for the market.
Segment Analysis
The Middle East coconut products market is dominated by Virgin Coconut Oil segment as over 60% of the market is accounted by virgin coconut oil. Virgin coconut oil has gained immense popularity in the last few years due to its various health benefits. It is considered as one of the healthiest edible oils and is widely used in cooking and for personal care purposes. High nutritional value, ability to boost metabolism and support weight loss have led to exponential demand for virgin coconut oil in the region. Among other segments, coconut water holds around 25% share due to growing health consciousness among consumers.
Global Analysis
The Middle East dominates the regional demand for coconut products market with over 50% share. Saudi Arabia, UAE and Kuwait are some of the major consumers. Changing lifestyle, rising disposable incomes and growing awareness about nutritive food is driving growth of coconut products in Middle East. Southeast Asia is the fastest growing region due to increasing utilization of coconut products for cosmetic and personal care applications. Countries like Indonesia, Philippines and India have emerged as key production hubs and major exports of coconut and its derived products in Southeast Asia region.
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