The increasing prominence of private-label brands is notably driving the coconut butter market growth, although factors such as the stringent regulations on the quality and packaging of coconut butter may impede the market growth.
NEWARK, Del, July 05, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global coconut butter market is valued at USD 253.5 million in 2024 and it is anticipated to reach USD 576.2 million by 2034. Over the next decade, global coconut butter demand is likely to increase at a CAGR of 8.6%.
More people are enjoying Southeast Asian and Caribbean dishes that use coconut products. Coconut butter is becoming popular with both home cooks and professional chefs. These cuisines are known for their rich flavors and health benefits, inspiring people to cook these dishes at home.
TV cooking shows, food blogs, and social media influencers who share these culinary traditions are increasing interest. This cultural diversity in cooking is boosting the demand for coconut butter, making it a common ingredient in kitchens worldwide.
Selling coconut butter through online stores that specialize in health foods or natural products is a smart way to market it. These websites attract health-conscious shoppers, especially those looking for organic and natural options. This helps highlight the unique benefits of coconut butter.
Many people find it cost-effective and enjoyable to make their own beauty products. Online tutorials and social media influencers who share DIY beauty recipes are encouraging more people to use coconut butter in their personal care routines.
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Key Takeaways from the Coconut Butter Market Report:
- The global coconut butter market is expected to reach a valuation of USD 576.2 million by 2034.
- Global demand for coconut butter is likely to soar at an 8.6% CAGR over the forecast period.
- South Asia is projected to hold a dominant value share of 34.7% in the global coconut butter market by 2034.
- The coconut butter market in India is estimated to witness a value CAGR of 7.2% during the projection period.
- The United States coconut butter market is expected to develop at a 5.4% CAGR during the forecast period.
- Based on end use application, the dietary supplements segment is expected to dominate the coconut butter market with a 21.4% market share in 2024.
- Based on sales channel, the online retailers segment is expected to hold a leading market share of 38.6% in 2024.
“The coconut butter market continues to grow robustly driven by increasing consumer interest in natural, health-conscious alternatives. With its versatility and nutritional benefits, coconut butter appeals to both culinary and wellness sectors. As demand expands globally, innovations in product formulations and sustainable sourcing practices are likely to shape its future growth trajectory.”– says a Nandini Roy Choudhury, Client Partner at Future Market Insights
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Who is Winning?
Aethon International, The Kerela Store, Wichy Coconut, Urban Platter, Butters & More, Wildly Organic, Cocofina, Royal Nut Company, Veda Oils, Earth’s Finest, The Chattanooga Butter Company, Dhatu Organics & Naturals, Jiva Organics, OhMega, Georgia Grinders, and Ceylon Coconut Company are key Coconut Butter manufacturers listed in the report.
These companies are focusing on research and development, sustainable sourcing, and new formulations. They are also emphasizing environment-friendly practices and product certifications to satisfy the increasing demand for natural and sustainable ingredients.
The coconut-based spread company Kokada is currently getting ready for a spring nationwide launch at Sprouts Farmers Market outlets. The coconut spread, which the firm describes as a nut-free spin on almond or cashew butter, can be spread on toast, mixed into smoothies, swirled into coffee, added to baking recipes, or melted over ice cream.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global coconut butter market presenting historical demand data from 2019 to 2023 and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the coconut butter market based on end use application (food & beverages (baked goods, beverages, smoothies, sauces, salad dressing), personal care (skin care, hair care, body care, dental care, feminine care), and dietary supplements), sales channel (indirect sales, and direct sales (online retailers, specialty stores, supermarkets/hypermarkets)) across various regions.
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Key Segments of Market Report:
By End-use Application:
As per end use application, the industry has been categorized into food & beverages (baked goods, beverages, smoothies, sauces, salad dressing), personal care (skin care, hair care, body care, dental care, feminine care), and dietary supplements.
By Sales Channel:
This segment is further categorized into indirect sales, and direct sales (online retailers, specialty stores, supermarkets/hypermarkets).
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
As per the FMI’s updated research market report, sales of butter and margarines garner a current valuation of US$ 4,885.40 million in 2024.
The demand for peanut butter is estimated to be US$ 5,470 million. The market is expected to expand at a CAGR of 3.9% from 2024 to 2034.
The vegan butter market size is expected to top US$ 2,870 million in 2023. The market is projected to register a CAGR of 5% between 2023 and 2033, surpassing US$ 4,784.7 million by 2033.
The clarified butter market is expected to register a 9.4% CAGR, reaching a global market value of US$ 6.11 billion by 2033, up from an anticipated US$ 2.49 billion in 2023.
Global kokum butter market demand is anticipated to be valued at US$ 692.6 million in 2023, forecast a CAGR of 6.3% to be valued at US$ 1,236.2 million from 2023 to 2033.
The global flavored butter and oils market is expected to be valued at US$ 498.3 million in 2023. With homemade breakfasts and lunches becoming more popular than takeout, flavored butter and oils sales are expected to reach US$ 930.8 million by 2033.
The global butter flavor market size is anticipated to reach a valuation of US$ 569.4 million by 2033. The market is predicted to showcase a CAGR of 7% from 2023 to 2033.
The cocoa butter market is expected to expand at a mild CAGR of 1.7% during the forecast period. The cocoa butter market was valued at US$ 8,890.5 million in 2022.
The global Macadamia butter market is expected to reach a market valuation of USD 1,595.17 Million by the year 2023, accelerating with a CAGR of 5.9% by 2023 to 2033.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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