They are a healthier alternative to wheat-based wraps as they are gluten-free, grain-free, and highly nutritional. Coconut wraps have several health benefits such as being a good source of fiber, vitamins, and minerals. They help support digestive health and weight management goals.
The global coconut wraps market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for coconut wraps has been increasing over the years due to rising health consciousness among consumers and growing preference for plant-based and gluten-free products. Consumers are increasingly focusing on products that are natural, nutritious, and offer various medical benefits. Coconut wraps meet all these preferences of health-conscious consumers as they are made from naturally processed coconut meat without any additives or preservatives. Various startups are innovating with coconut wraps and offering diverse flavors and formats such as pre-cut wraps, taco size wraps, burrito size wraps etc., thus attracting more consumers. Launching new and innovative products incorporated with coconut wraps is a key trend being observed in the market.
Segment Analysis
The Global Coconut Wraps Market Size is dominated by gluten-free wraps segment. Gluten-free wraps are gaining more popularity due to the rising health consciousness among consumers. Consumers prefer gluten-free wraps as these wraps are rich in nutrients such as fiber, vitamins and minerals and provide digestive health benefits. Additionally, gluten-free wraps can be easily digested as compared to gluten containing wraps.
Key Takeaways
The global coconut wraps market is expected to witness high growth. The increasing food and beverage industry and the rising demand for plant-based and natural food packaging solutions is driving the growth of the coconut wraps market. Companies are introducing new products to cater the increasing demand from health conscious consumers. The global coconut wraps market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030.
Regional analysis
North America is expected to dominate the global coconut wraps market during the forecast period. The presence of major coconut wrap manufacturers and increasing adoption of coconut-based food packaging solutions among food processing companies is augmenting the growth of the market in the region. Moreover, rising health consciousness and changing dietary patterns are also propelling the demand for coconut wraps in North America.
Key players operating in the coconut wraps market are The Coconut Company, coconut wraps company, Simply NUWRAAPS, Bob's Red Mill Natural Foods, Nurtured in Nature etc. Simply NUWRAAPS offers a wide range of coconut wraps including gluten-free, paleo-friendly coconut wraps. Bob's Red Mill Natural Foods provides high-quality coconut wraps along with organic coconut wraps. Nurtured in Nature manufactures natural coconut wraps made from organic coconut which are Non GMO.
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