Market Segmentation: Coconut spreadUpdate: 8/10/2020
The coconut spread market is segmented on the basis of distribution channel as supermarket/ hypermarket, convenience stores, online store. Growing popularity of coconut spreads and coconut jams in consumers is increasing demand for coconut spreads and jams and coconut spread-based products. As a result of increasing demand, manufacturers are making their products available through various online stores.
The coconut spread market is further segmented on the basis of different flavors available in the market such as honey, chocolate, vanilla, mint, and others. As a result of sweet taste and flavor coconut spread application in the various food industry is increasing, in turn fueling market demand in global market. In order to increase the product portfolio and variety of coconut spreads manufacturers are focusing on launching flavored coconut spreads in the market.
The coconut spread market is segmented on the basis of application in the food industry as preparation of mayonnaise, spreads, coffee creamer, coating, butter etc. Coconut spread can be used to prepare egg-free mayonnaise to be used in salad dressings, sandwich and as a dip for veggies. Coconut spread is used in the preparation of coconut butter which then can be used in the spread, coffee creamer for consumers. Coconut spread can be used as a coating for chocolate and ice-creams or used as toppings for desserts these versatile applications are fueling its demand in global market.
Global Coconut spread Market: Regional Outlook
Depending on geographies global coconut spread market is segmented into five key regions: North America, Latin America, Europe, Middle East and Africa and Asia Pacific. Coconut spreads are most popular in Asia Pacific market, mainly in Malaysia, Indonesia, Singapore, Philippines etc. In Malaysia, Singapore and Indonesia coconut spread are used as topping for many food products such as deserts. Thus, Asia Pacific grabs major market shares of global coconut spread market in terms of consumption as well as production. Production of coconut spread is growing fast due to easy availability of coconuts as well as increasing demand from the global market. Due to easy availability of coconuts, Sri Lanka is one of the major producers of coconut spreads and jams in amongst Asia-Pacific countries.
Global Coconut spread Market: Drivers and Trends
Coconut spread is used in food industry as a topping for desserts, coffee creamer etc. which is gaining demand globally driving the global market for coconut spreads. Manufacturers are focusing on launching flavored coconut spreads such as honey based coconut spread, vanilla coconut spread, chocolate coconut spread etc. to cater to rising demand of coconut spreads from consumers. Growing number of the health-conscious consumer looking for healthy and tasty food options is another factor fueling the growth of the coconut spread global market. Increasing sale of coconut spreads and jams on online stores as well as in convenience stores plays a key role in growing coconut spread and jam market globally.
Global Coconut spread: Key Players
Some of the key players identified across the value chain of the global coconut spread market include Nikki's Coconut Butter, Nutiva, Inc., Cocomi Bio Organic, CocoVie Naturals, Windmill Organics, AYAM SARL., Marina foods (Pvt) Ltd., Mayvers, Ecoideas etc.
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