Cibi e Bevande
Coconut Butter Market to Reach $1.9 Billion, Globally, by 2031 at 7.2% CAGR: Allied Market Research
The rise in demand among health-conscious consumers, owing to its high nutritional benefits drive the growth of the global coconut butter market. However, Caribbean and African countries are facing threats of lethal yellowing disease in the coconut plantation, which restricts the market growth. Moreover, organic and gluten-free coconut butter is gaining increased popularity among consumers. This is attributed to the fact that organic coconut butter is high in fiber and contains lauric acid, which lowers bad cholesterol. This factor presents new opportunities in the coming years.
Based on nature, the conventional segment held the highest market share in 2021, accounting for more than half of the global coconut butter market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 7.5% from 2022 to 2031. Conventional coconut butter is created using crops that have undergone genetic engineering or other forms of modification to acquire improved properties. Chemical fertilizers and insecticides are used in conventional coconut cultivation to promote healthy growth and production from the trees by fending off illnesses and preventing pest infestations.
Based on end user, the food and beverage industry segment held the highest market share in 2021, accounting for more than half of the global coconut butter market, and is estimated to maintain its leadership status throughout the forecast period. However, the cosmetics and personal care products segment is projected to manifest the highest CAGR of 8.1% from 2022 to 2031. There are several uses for the nutritional benefits of coconut butter. Most beauticians advise using coconut butter topically on the skin and hair in various ways, to expect positive benefits.
Based on distribution channel, the online sales channel segment accounted for the largest share in 2021, contributing to around one-third of the global coconut butter market, and is projected to maintain its lead position during the forecast period. This segment is expected to portray the largest CAGR of 7.5% from 2022 to 2031. This is attributed to easy availability and the benefits such as information about the attributes of the products, time-saving features, and the facility of home delivery provided by the online platform.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly three-fifths of the global coconut butter market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 7.6% from 2022 to 2031. The expansion of the regional market is the result of factors including the enormous demand for organic coconut butter from developing nations, the increase in coconut production by big plantations, and the huge domestic use of coconut butter.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of " " and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/coconut-butter-market-to-reach-1-9-billion-globally-by-2031-at-7-2-cagr-allied-market-research-301763110.html