Coconut cream is manufactured from the extraction of tender coconut flesh and pureeing it, obtaining a thick paste. The coconut cream is like coconut milk that has viscous consistency and similar non-sweet taste. The coconut cream is rich in fats and is often used forthe spicing up the curries and cuisines to add flavor and make it much less spicy. The rise in products growing with popularity in preparation of paleo diet and beverages such as pina colada boosting the growth of coconut cream market. The coconut cream market is also expected to see growth owing to its usage as a non-sweet cream in many health related desserts & beverages.
It is a high water content, high fat and low tannins, coconut cream being widely used as the key ingredient in producing coconut juice drinks, is quickly edible. The natural phenomenon associated to coconut cream is its rapid separation of fat which makes it product with the selected attractiveness than standing. Increasing in usage of coconut cream over a various Industries such associated to food industry, personal care industry, food & beverage, among others is expected to be prime driver for market growth.
According to study, “Global Coconut Cream Market to reach USD XXX billion by 2026” the key companies operating in the global coconut cream market are Celebes coconut corporation, Edward and sons Trading Corporation., Goya foods Inc., Nutiva Inc., Thaitan foods international co. Ltd., Windmill organics, Maya gold trading B.V., Healthy traditions, McCormick & Company and Tropical sun.
Based on nature, coconut cream market is bifurcated as organic coconut cream and inorganic coconut cream. Organic coconut cream segment dominates the market owing to rise in demand for organic ingredients & products that are produced without use of harmful pesticides & insecticides. Based on packaging, market is bifurcated as tetra packs and cans. Based on distribution channel, market is bifurcated as direct channel and indirect channel. Indirect channel includes convenience stores, hypermarket/supermarket, online retailers, specialty stores and others. In addition, based on end-use, market is bifurcated as foodservices, households and industrial.
The coconut cream market is driven by rise in demand for processed food products and increase in number of lactose intolerant people & vegan population. However, lack of a skilled workforce may impact the market. Moreover, rise in use of coconut cream in cosmetics industry for producing organic cosmetic products is a key opportunity for market. Furthermore, growth in global vegan population base, increase in population of Asian cuisine and organic coconut cream are major trends for market.
Based on geography, the Asian-pacific is the significant region in global coconut cream market owing to rise in production of the coconut in the region. Whereas, the European and North-American regions are anticipated to witness higher growth rate due to growth in food processing industry overt the forecast period. In near future, it is predicted that the global coconut cream market will be reached at rapid pace as a result of rise in demand for convenience food during the forecast period.
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Ankur Gupta, Head Marketing & Communications