Coconut contains a great deal of nutritional ingredients in it. When coconuts are dried, shredded and pureed to form a thick mixture, it can be used as coconut butter. Coconut butter can be stored for a long time at low temperature. Coconut butter market has grown due to its variety of applications in the food industry and personal care industry. Its application includes both consumption and topical usage. Coconut butter is mostly looked upon as a healthy substitute to most vegetable oils. The growth of coconut butter market’s favorable factors includes its production on a large scale due to the ample growth and production of coconuts. It is also a home-made product, but ready-made products are in more demand due to cheap prices and easy availability.
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Coconut Butter Market: Segmentation
The coconut butter market can be segmented on the basis of source, end-use and distributional channel. On the basis of source, the coconut butter market can be segmented as organic and conventional.
On the basis of end-use, the coconut butter market can be segmented as food industry, personal care industry and commercial. The coconut butter market in food industry can be further segmented as confectionary, sauces & spread, flavoring ingredient and others. The commercial segment can be further segmented as hotels, restaurants & cafes (Horeca), institutional Foods and households.
On the basis of distribution channel, the coconut butter market can be segmented as direct and indirect sales. The indirect sales are further segmented as Modern trade, wholesalers, convenience stores, retailers and online retailers.
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Coconut Butter Market: Drivers, Restraints, and Trends
The coconut butter market has seen steady rise in the past decade as people’s preference for coconut oil and butter has increased due to its many health benefits. The coconut butter and coconut oil’s usage trend in the food industry goes hand-in-hand. The coconut butter is less preferred due to its high fat content in the food and is mostly used as a spread with toast or bread and is consumed as breakfast. The coconut butter market has seen rise due to coconut butter being the new entrant in the breakfast as high-energy source food. The macro-economic factors like the ban on the export of coconut in countries such as Indonesia is affecting the growth of the coconut butter market globally. While many regions remain dependent on the exports from tropical countries for the production of coconut related products, such moratoriums may hamper the growth of the coconut butter market. The coconut butter market sees growth due to its growing usage in the personal care industry. The coconut butter as an ingredient in body lotions, deodorant agent and hair conditioner. The coconut butter market driver is that the it is biodegradable and a substitute for the chemicals as a natural agent in the personal care products.
Coconut Butter Market: Regional Outlook
The breakfast of the consumers from the North America and Europe consists mainly of carbohydrates rich food and regular butter is avoided due to its high LDL or bad cholesterol content. So, the coconut butter market sees high growth due to its entrant as a new breakfast spread in the North America. Macro-economic factors like approval of coconut butter as a low fat product is hindering the growth of the market in Europe. The coconut butter market in Asia Pacific sees maximum growth as consumers are well aware of the benefits of coconut and the use coconut products traditionally has boosted the growth of this market. The consumers in Asia Pacific are expected to prefer the use of coconut butter more readily and this is a major driver for the growth of coconut butter market in Asia Pacific. The coconut butter market is expected to grow in tropical regions where there is more production of coconuts. In the regions for Middle East and Africa, the African countries are highly dependent on agriculture and their related products for the growth of their economy, and hence coconut butter market is also expected to grow in this region.
Coconut Butter Market: Key Players
- Windy City Organics
- Premier Organics Inc.
- The Hain Celestial Group, Inc.
- Windmill Organics
- Wichy Plantation Company (Pvt) Ltd
- ANDY ALBAO CORPORATION
- The HallStar Company
- Marico Limited