The global coconut butter market was valued at $986.3 million in 2021, and is projected to reach $1.9 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.After the water has been extracted from the coconuts, they are dried and then ground into coconut butter. It is a solid fat extracted from coconut meat that is used to make candles, soap, and ointments. Low temperatures allow it to be kept and preserved for a longer period of time. It is regarded as a natural, nutritious alternative to most processed, fortified butter.
The coconut butter market is analyzed on the basis of nature, end user, distribution channel, and region. On the basis of nature, the market is bifurcated into organic and conventional. On the basis of end user, the market is divided into cosmetics and personal care industry, food & beverage industry, and others. On the basis of distribution channel, it is classified into supermarkets/hypermarkets, convenience stores, online sales channel, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The impact of the COVID-19 outbreak was moderate on the growth of the global coconut butter market. The trade restrictions and lockdown resulted in the halting of production and manufacturing units. however, the recovery of the coconut butter market is expected in near future.
Coconut butter is now a common ingredient in personal care and cosmetic products because consumers throughout, but especially in coastal and tropical countries, perceive it as a healthy element for enhancing attractiveness. Consumers presently demand organic, vegan skin and hair care products, thus cosmetics containing organic coconut butter are usually accepted. Since coconut butter contains triglycerides and continuously saturated medium-chain fatty acids, many personal care firms are replacing the mineral oil in their cosmetics and personal care product lines with coconut oil. In addition, due to the antibacterial qualities of lauric acid, coconut butter has recently become more popular as a moisturizer, detergent, and shampoo ingredient. Coconut butter is a fantastic natural moisturizer. It moisturizes lips and softens them. As a result, producers are including coconut butter in their lip care products.
The key players operating in the coconut butter market have adopted product launch, business expansion, and merger & acquisition as their key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global coconut butter market are ANDY ALBAO CORPORATION, Asia Botanicals Sdn. Bhd, Bali Nutra, Ceylon Coconut Company, Dhatu Organics & Naturals, Hallstar Innovations Corp., MaraNatha, Nutretiaa Industries, Phildesco Inc., and United Foods India.
The coconut butter market is analyzed on the basis of nature, end user, distribution channel, and region. On the basis of nature, the market is bifurcated into organic and conventional. On the basis of end user, the market is divided into cosmetics and personal care industry, food & beverage industry, and others. On the basis of distribution channel, it is classified into supermarkets/hypermarkets, convenience stores, online sales channel, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The impact of the COVID-19 outbreak was moderate on the growth of the global coconut butter market. The trade restrictions and lockdown resulted in the halting of production and manufacturing units. however, the recovery of the coconut butter market is expected in near future.
Coconut butter is now a common ingredient in personal care and cosmetic products because consumers throughout, but especially in coastal and tropical countries, perceive it as a healthy element for enhancing attractiveness. Consumers presently demand organic, vegan skin and hair care products, thus cosmetics containing organic coconut butter are usually accepted. Since coconut butter contains triglycerides and continuously saturated medium-chain fatty acids, many personal care firms are replacing the mineral oil in their cosmetics and personal care product lines with coconut oil. In addition, due to the antibacterial qualities of lauric acid, coconut butter has recently become more popular as a moisturizer, detergent, and shampoo ingredient. Coconut butter is a fantastic natural moisturizer. It moisturizes lips and softens them. As a result, producers are including coconut butter in their lip care products.
The key players operating in the coconut butter market have adopted product launch, business expansion, and merger & acquisition as their key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global coconut butter market are ANDY ALBAO CORPORATION, Asia Botanicals Sdn. Bhd, Bali Nutra, Ceylon Coconut Company, Dhatu Organics & Naturals, Hallstar Innovations Corp., MaraNatha, Nutretiaa Industries, Phildesco Inc., and United Foods India.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the coconut butter market analysis from 2021 to 2031 to identify the prevailing coconut butter market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the coconut butter market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global coconut butter market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Nature
- Organic
- Conventional
By End User
- Cosmetics and Personal Care Industry
- Sub-type
- Hair care
- Skin care
- Others
- Food and Beverage Industry
- Others
By Distribution Channel
- Supermarkets/hypermarkets
- Convenience stores
- Online sales channel
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Netherlands
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- India
- Indonesia
- China
- Philippines
- South Korea
- Vietnam
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Nutretiaa Industries
- Dhatu Organics & Naturals
- Hallstar
- Andy Albao Corporation
- Bali Nutra
- Phildesco Inc
- United Foods India
- MaraNatha
- Asia Botanicals Sdn Bhd
- Ceylon Coconut Company
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COCONUT BUTTER MARKET, BY NATURE
CHAPTER 5: COCONUT BUTTER MARKET, BY END USER
CHAPTER 6: COCONUT BUTTER MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: COCONUT BUTTER MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Coconut Butter Market," the coconut butter market was valued at $986.30 million in 2021, and is estimated to reach $1.9 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.Coconut butter is made by grinding the dried meat from coconuts into a paste. The meat has been puréed in a jar of coconut butter, but there is also some coconut oil present, much like there is some almond oil in almond butter. This analysis of the report considers the many types of coconut butter, including organic and conventional.
The coconut butter market is analyzed on the basis of nature, end user, distribution channel, and region. On the basis of nature, the market is bifurcated into organic and conventional. On the basis of end user, the market is divided into cosmetics and personal care industry, food & beverage industry, and others. On the basis of distribution channel, it is classified into supermarkets/hypermarkets, convenience stores, online sales channel, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The increased use of coconut in cooking is a result of its health advantages, which drive the market growth. The use of coconut butter in frying, baking, and sautéing are being encouraged by its high smoke point and antioxidant properties, which boost industry growth. Since coconut butter has a strong flavor, it is frequently utilized in the making of local cuisine. in addition, a boom in the usage of coconut butter as an oil alternative is being brought on by the growth in vegan population of the nation, which significantly drives the market growth. Coconut butter is frequently used in the baking industry to improve its nutritional profile since there is a growth in market for healthy bakery and confectionery products.
The nutritional properties of coconut butter would aid to nourish the body throughout the post-COVID phase, and sales are anticipated to rise as a result of the unprecedented expansion of the market. The market for nutritious products that employ natural food ingredients as their primary raw materials has seen a growth in popularity due to changes in consumer consumption habits. In order to deal with the aftereffects of COVID-19 pandemic, consumers are keen to test new functional food products and maintain a healthy lifestyle. During the COVID-19 pandemic, there was thus a positive impact to some extent on the growth of the global coconut butter market.
Individuals and companies that sell the products and finished products to ultimate consumers make up the economic sector known as the retail industry. Grocery stores, supermarkets, convenience stores, and discounters are just a few of the retail outlets where a vast selection of coconut butter is offered for sale. Discounters, convenience stores, and online retailers have the fastest growth rates in this industry. These businesses act as a tool for global marketing that boosts the brand recognition and premium image of coconut butter manufacturers. So, a key component in the development of the coconut butter market is the expansion of the retail industry.
The vast range of substitutes is one of the factors that is limiting the growth of the global market for coconut butter. Greek yogurt, cashew butter, almond butter, shea butter, vegan butter, peanut butter, and nut butters are just a few of the many alternatives. These options are all readily available on the market. In addition, compared to coconut butter, these products are fairly affordable. The availability of affordable substitutes thereby limits the market expansion for coconut butter.
The major players analyzed for the global coconut butter industry are ANDY ALBAO CORPORATION, Asia Botanicals Sdn. Bhd, Bali Nutra, Ceylon Coconut Company, Dhatu Organics & Naturals, Hallstar Innovations Corp., MaraNatha, Nutretiaa Industries, Phildesco Inc., and United Foods India. The key players operating in the coconut butter market have adopted product launch, business expansion, and merger & acquisition as their key strategies to expand their market share, increase profitability, and remain competitive in the market.
Key Findings of the Study
- On the basis of nature, the conventional segment was the highest revenue contributor to the market and is estimated to growth with a CAGR of 7.5% during the forecast period.
- On the basis of end user, the food and beverage industry segment was the highest revenue contributor to the market and is estimated to grow with a CAGR of 6.9% during the forecast period.
- On the basis of distribution channel, the online sales channel segment was the highest revenue contributor to the market and is estimated to grow with a CAGR of 7.5% during the forecast period
- On the basis of region, Asia-Pacific was the highest revenue contributor and is estimated grow with a CAGR of 7.6% during the forecast period.
Companies Mentioned
- Nutretiaa Industries
- Dhatu Organics & Naturals
- Hallstar
- Andy Albao Corporation
- Bali Nutra
- Phildesco Inc
- United Foods India
- MaraNatha
- Asia Botanicals Sdn Bhd
- Ceylon Coconut Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 986.3 million |
| Forecasted Market Value ( USD | $ 1900 million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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