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| Middle East Coconut Products Market |
The Middle East coconut products market comprises products derived from the coconut palm, such as coconut water, coconut oil, coconut milk powder, and others. Coconut products market offers several health benefits such as nourishment, hydration, nutrition, and benefits for heart health and skin care. Growing prevalence of lifestyle diseases and health issues like obesity is stimulating consumer demand for natural and healthy coconut products. The wide range of uses of coconut oil, coconut milk, and coconut water in food and beverages is augmenting demand from food manufacturers.
The Middle East coconut products market is estimated to be
valued at US$ 1115.91 Bn in 2024 and is expected to exhibit a CAGR of 11% over the
forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Middle East coconut products 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 key players are focusing on new
product launches, facility expansion and collaborations to strengthen their
market presence. The key opportunities in the market include growing demand for
organic and non-GMO certified coconut products, emergence of innovative products
involving coconut derivatives and integrating coconut products in cosmetics and
personal care items. Emerging economies in the Middle East like Saudi Arabia,
United Arab Emirates, and Qatar offer high potential for global players looking
to expand and gain market share in the region.
Market Drivers and Restrains
The primary driver boosting the Middle
East Coconut Products Market Demand is
increasing health aware consumer base looking to add coconut-based foods and
beverages in their diets due to associated health benefits. Coconut oils and
coconut milk powders can substitute dairy and whey-based protein powders and
are thus witnessing rising demand from vegan and lactose intolerant population.
However, price fluctuation of raw materials especially coconut and coconut oil
and high dependence on seasonal harvests are major challenges faced by
processors and manufacturers. Strict cultural beliefs and certain product
regulations in some Middle Eastern countries also act as a restraint for the
market.
Segment Analysis
The Middle East coconut products market is dominated by Virgin Coconut Oil
segment as over 60% of the market is accounted by virgin coconut oil. Virgin
coconut oil has gained immense popularity in the last few years due to its
various health benefits. It is considered as one of the healthiest edible oils
and is widely used in cooking and for personal care purposes. High nutritional
value, ability to boost metabolism and support weight loss have led to
exponential demand for virgin coconut oil in the region. Among other segments,
coconut water holds around 25% share due to growing health consciousness among
consumers.
Global Analysis
The Middle East dominates the regional demand for coconut products market with
over 50% share. Saudi Arabia, UAE and Kuwait are some of the major consumers.
Changing lifestyle, rising disposable incomes and growing awareness about
nutritive food is driving growth of coconut products in Middle East. Southeast
Asia is the fastest growing region due to increasing utilization of coconut
products for cosmetic and personal care applications. Countries like Indonesia,
Philippines and India have emerged as key production hubs and major exports of
coconut and its derived products in Southeast Asia region.
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