Coconut products have wide applications in food and beverage industry due to its health benefits and taste. Coconut water is a refreshing thirst quencher owing to its mineral content and electrolytes. Coconut milk is used as a dairy alternative in culinary preparations. Virgin coconut oil is popular cooking medium used in Southeast Asian cuisines owing to its high smoke point. Coconut flour is a gluten-free alternative for bakery products.
The global Middle East Coconut Products Market is estimated to be valued at Us$ 1115.91 Million In 2024 and is expected to exhibit a CAGR Of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand from food industry has been a key growth driver for Middle East coconut products market. Coconut products are increasingly being used in food formulations owing to growing preference for natural products among health conscious consumers. Coconut water, milk and flour are popular ingredients in smoothies, soups, curries due to their nutritional profile. Coconut oil also finds wide usage in foodservice industry for frying and sautéing various snacks and savories. The health benefits of coconut products and focus on organic and natural foods are expected to boost the demand from food industry, thus facilitating market growth over the forecast period.
Segment Analysis
The Middle East coconut products market is segmented into coconut oil, coconut water, coconut chips/fabrics, coconut cream, and others. The coconut oil segment dominated the market in 2024 and accounted for more than 30% share of the total market. Coconut oil has wide applications in cooking, cosmetic products, and personal care products. It is considered to be healthier than other vegetable oils and provides several health benefits such as lowering cholesterol levels, aiding in weight loss, and improving heart health.
Key Takeaways
The Global Middle East Coconut Products Market Demand is expected to witness high growth during the forecast period. The global Middle East Coconut Products Market is estimated to be valued at US$ 1115.91 million in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031.
The United Arab Emirates accounted for the largest share of the Middle East coconut products market in 2024. The country has a well-established coconut processing industry and is a major exporter of coconut products to global markets. Changing consumer preferences towards healthier food products is driving the growth of the coconut products market in the UAE.
Key players operating in the Middle East coconut products market are VV Group, Greenville Agro Company, SCM, and CIIF Oils & Fats Industries Corporation. Coconut oil manufacturers are focusing on enhancing product quality and expanding their regional presence through strategic partnerships and collaborations to gain market share in the Middle East coconut products market.
Get more insights on this topic :
Check more trending articles on this topic:
Comments
0 comment