Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Middle East & Africa Coconut Products Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
The Middle East & Africa Coconut Products market is expected to reach a market size of more than USD 2 Billion by 2029. The growing trend of health consciousness in the Middle East and Africa has prompted the use of coconut products for their alleged health advantages. Coconut oil has acquired popularity as alternative cooking oil due to its possible nutritional characteristics, while coconut water has established itself as a natural and refreshing beverage. These goods are designed for customers looking for natural, healthier alternatives to conventional offerings.
Certain countries in the region are looking into coconut planting as a means of diversifying their economies and developing their agriculture. Coastal locations with suitable temperatures are being discovered and developed for coconut plantations, with the goal of capitalizing on the economic potential of coconut agriculture while creating employment possibilities for local residents. Given the non-native status of coconuts in the Middle East & Africa region, there is a major reliance on imports from tropical countries.
This reliance has promoted trade partnerships with coconut-producing countries, resulting in a global interchange that provides a consistent supply of coconut-based items to meet the region's needs. The adaptation of coconut goods in the Middle East & Africa region has resulted in novel product innovations. Local entrepreneurs and enterprises have created unique items such as coconut-based sweets, snacks, spreads, and condiments that merge traditional usage with current tastes. These improvements accommodate changing consumer demands while preserving the essence of coconut's versatility.
Major Drivers
- Rising Consumer preferences for plant-based and vegan products: The trend toward plant-based diets and the increasing number of people choosing vegan lifestyles are important drivers for the Middle East and Africa coconut products market. Coconut-based products meet these nutritional needs by providing a plant-based alternative in the form of coconut milk, coconut oil, and coconut-based snacks.
- Expanding Beauty and Personal Care Industry: Coconut-derived products are widely used in the beauty and personal care industries due to their moisturizing and nourishing characteristics. As the beauty and personal care sector grows throughout the Middle East and Africa, so does the need for coconut oil and other coconut-based components in cosmetics, hair care, and skincare products.
Major Challenges
- Agricultural challenges in coconut cultivation: The region's adverse agricultural circumstances for coconut cultivation are one of the key problems confronting the Middle East and Africa Coconut Products Market. Arid conditions and a limited area for coconut farming, particularly in the Middle East, result in poorer yields and higher production costs. Climate change impacts intensify these issues by hurting coconut plantations and jeopardizing the entire supply chain.
- Limited Product Diversity and Innovation: The Middle East and Africa Coconut Products Market is confronted with problems due to a lack of product diversity and innovation. While classic coconut goods such as oil, water, and milk are available, further diversity and innovation are required to meet evolving consumer tastes. Creating innovative, value-added coconut-based goods can help boost market growth while also catering to changing consumer demands.
In terms of distribution channel market is divided into hypermarket/ supermarket, conventional store, specialty store and online retail. Online retail channel is projected to grow rapid pace in Middle East & Africa. Based on stage segment market includes mature and young. Young stage coconut products are expected to grow at significant rate.
Online shopping provides unrivaled accessibility and convenience. Online platforms bridge the access gap in locations such as the Middle East and Africa, where physical storefronts are limited in some areas. Coconut items can be browsed and purchased from the convenience of one's own home, reducing the need for considerable travel or reliance on local availability. Consumer behavior is shifting toward online purchasing, owing to reasons such as greater internet access, smartphone usage, and a growing tech-savvy populace.
Because of this generational transition, internet retail platforms for purchasing everyday goods, particularly coconut-based products, are becoming more popular. The nutritious properties of young-stage coconut products have piqued the interest of Middle East & Africa health-conscious customers. Young coconuts are high in electrolytes like potassium, making them a popular choice for hydration in hotter regions. Their naturally refreshing water, also known as coconut water, has grown in popularity as a healthier alternative to sugary beverages, attracting health-conscious consumers looking for natural, low-calorie beverages.
Furthermore, the adaptability of young-stage coconut products has aided their expansion in the Middle East & Africa market. These items, in addition to coconut water, include coconut meat, which is soft and easily digestible in its early stages. The flesh is utilized in a variety of culinary preparations, and it contains beneficial fats and nutrients.
Key aspects covered in the report
- Coconut Products market Outlook with its value and forecast along with its segments
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
By Product Type
- Coconut milk & cream
- Coconut oil
- Coconut water
- Coconut desiccated /flacks /shredded
- Other
By Form
- Liquid
- Solid
By Application
- Food / Beverages
- Cosmetics
- Others
By Distribution Channel
- Hypermarket/supermarket
- Conventional store
- Specialty store
- Online retail
By Stage
- Mature
- Young
Featured Companies
- Marico
- PepsiCo
- Nestle
- Bayer
- Danone
- SunOpta
- The Archer-Daniels-Midland Company
For more information about this report visit https://www.researchandmarkets.com/r/dtqldt
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