Market Overview:
The Middle East coconut products market comprises products derived from coconuts including coconut water, coconut oil, coconut milk powder, desiccated coconut, coconut cream, and coconut juice concentrate among others. Coconut water hydrates the body naturally without adding calories and is rich in electrolytes like potassium which makes it a preferred choice during summer months in the Middle East region.
Market key trends:
One of the major trends driving the coconut products market in Middle East is the rising health consciousness among consumers. Coconut water is considered a healthy refreshment option due to the presence of essential nutrients like vitamins, minerals and fiber. It is low in calories and has no fat content which appeals to health conscious consumers. Moreover, rising awareness regarding the various health benefits of coconut products like improvement in heart health, weight management and better digestion has fueled their demand in the region over the years. Furthermore, changing lifestyles and adoption of western food habits have propelled the adoption of tropical superfoods like coconut in the diets of Middle Eastern population.
Segment Analysis
The Middle East Coconut Products Market Demand is segmented by product type, application and distribution channel. By product type, virgin coconut oil dominates the market and accounts for more than 30% of the total market share. Virgin coconut oil is dominating the market owing to its various health benefits such as enhancing digestion, improving heart health, reducing risk of cancer and boosting immunity. By application, food and beverages is the largest segment in the Middle East coconut products market. Coconut products find wide applications in various cuisines in the region.
Key Takeaways
The global Middle East coconut products market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing health consciousness among consumers in the region.
Regional analysis
Saudi Arabia dominates the Middle East coconut products market with over 35% market share. Growing demand for healthy cooking oils and awareness about coconut products’ health benefits are driving the market in Saudi Arabia. United Arab Emirates is the fastest growing market in the region growing at a CAGR of 8.5% owing to increasing preference for plant-based and vegan food products.
Key players
Key players operating in the Middle East coconut products market 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 players are focusing on new product development and innovations to cater to dynamic consumer preferences in the region.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
