The Middle East coconut products market comprises products derived from coconut including coconut oil, coconut water, coconut milk powder, desiccated coconut, and coconut milk. Coconut products have wide applications in food & beverage, cosmetics, and personal care industries. Coconut oil is used in cooking, baking, and moisturizing due to its medium-chain fatty acids that are easily digested and provide quick energy. Coconut water is a natural isotonic drink rich in minerals like potassium and electrolytes. Coconut milk powder is used in sauces, curries, and beverages as a dairy alternative. Desiccated coconut adds texture and flavor in snacks, baked goods, and desserts.
The global Middle East coconut products Market is estimated to be valued at US$ 968.67 Mn in 2024 and is expected to exhibit a CAGR of 11 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing Demand for Healthy Snacks
The demand for nutrient-dense coconut products is increasing in the Middle East region owing to growing health consciousness among consumers. Coconut products have various health benefits and are considered a healthy alternative to conventional snacks. Coconut water, coconut oil, and desiccated coconut are finding greater application in producing healthy bakery goods, confectionaries, and on-the-go snacks. Various startups are innovating coconut-based snacks to cater to the surging demand. This growing demand for healthy snacks is expected to propel the Middle East coconut products market over the forecast period.
Rising Awareness about Therapeutic Properties of Coconut Products
The therapeutic properties of coconut oil and coconut water are well-documented. Coconut oil contains medium-chain triglycerides that boost metabolism and energy levels. Regular consumption of coconut oil also aids in reducing belly fat and managing cholesterol levels. Coconut water is endorsed as a natural isotonic drink due to its electrolyte composition similar to human plasma. It helps prevent dehydration and replenish fluids and minerals lost through sweat. Increasing consumer awareness about various medicinal and beauty care properties of coconut products through digital media is anticipated to drive the Middle East coconut products market.
Segment Analysis
The Middle East coconut products market is segmented into coconut cream, coconut oil, desiccated coconut, coconut water, coconut sugar, coconut milk powder and others. The coconut oil segment dominates the market and accounts for around 35% of the overall market share. Coconut oil has wide applications in food industry for cooking and various food preparations. It is also used in personal care and cosmetic products due to its moisturizing and nourishing properties.
PEST Analysis
Political: The Middle East region is politically and economically stable which promotes growth of coconut products market. Several trade agreements enhance export and import of raw materials and finished products.
Economic: Rising disposable incomes and changing lifestyle and food preferences of consumers is driving the market growth. Increased health awareness boosts demand for natural and organic coconut products.
Social: Growing population and urbanization in the Middle East countries augment the market. Rising awareness about health benefits of coconut products influences consumers buying behavior.
Technological: Advanced processing technologies help coconut product manufacturers improve production efficiency and offer innovative product formulations. Digital marketing aids in promotion of coconut products.
Key Takeaways
The global Middle East coconut products market share is expected to witness high growth over the forecast period of 2023 to 2030. The global Middle East Coconut Products Market is estimated to be valued at US$ 968.67 Mn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030.
Regional analysis indicates the market is fastest growing in Gulf countries led by the UAE and Saudi Arabia. Growing health consciousness and availability of wide range of coconut products drives the market in these regions.
Key players operating in the Middle East coconut products market 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€TMs Choice Foods Manufacturer Co. Ltd. Thai Coconut Public Company Ltd. captures around 15% market share due to its strong distribution network and wide product portfolio including coconut water, cream, and oil.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
