Nothing is wasted in the coconut. Every coconut part is cost-effective. Our nation, India, is ranked among the world’s topmost coconut producers. It holds the third spot in Indonesia and the Philippines only, while over 95 countries worldwide participate in coconut processing. These three countries alone account for 72% of the overall coconut supply in tropical areas. Coconut production in the tropical regions of the world is ideally suited because this provides hot and humid conditions favorable to coconut cultivation.
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Because of its natural conditions and considerable contribution to development, the coconut industry in India has been a successful success for many years. In India, Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh are mainly prevalent in the southernmost states. These four alone represent more than 85% of the overall output of the countries.
Market Outlook of Coconut Business
CAGR sizes were expected to be $11.5 billion for 2018, hitting $31.1 billion by 2026, which will be 13.6 percent between 2019 and 2026. More than half of the coconut products market share was expressed by the coconut oil group in 2018. Coconut has many health advantages and is a versatile fruit. Coconut oil, coconut water, coconut milk, desiccated coconut nut, coir, and copra are the products deriving from coconut. These materials are widely used in the food & beverage, beauty, and personal care sectors.
Coconut oil, for hair and skincare products, such as hair oils and soaps are commonly consumed by the cosmetic business. Many producers use coconut oil in processed goods; for cooking items such as chocolate, fried foods, and smoothies, many customers use it. The coconut oil market is expected to be driven by a huge demand for coconut oil and the increasing popularity of food applications in the cosmetics industry. Consumers who are active and health-conscious have turned their focus to natural alternatives to energy drinks dependent on caffeine.
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Therefore, because of its nutritious properties such as electrolytes and nutrients, the market for coconut water as a natural energy drinking is increasing quickly.
Coconut Products Market Analysis
- The coconut oil segment was the largest share on the world market in 2018 based on the form. Coconut oil-based items in personal care have become more tractive because of their emollient properties in the personal care industry.
- Based on its application, the demand for cosmetics is dominant, representing more than half of the coconut market in 2018 and predicted to continue to dominate the cosmetics sector over the projected period.
- The liquid segment had a major share of the world market in 2018 based on its shape. However, the strong consumer niche will be greatly extended as a healthier alternative to traditional snacks around the world raises the appetite for coconut-based snacks. Furthermore, the high coconut commodity market growth also has benefits such as fast handling and longer shelf life.
- Asia-Pacific was the region’s leading market for 2018 and represented the highest share in the global market for coconut goods. This may be due to the high use of a variety of food & beverage and cosmetic uses of coconut goods, such as coconut oil, coconut water, coconut milk, and cream.
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Financial assistance under Technology Mission by Government
- According to the technology mission on coconut, 25% of the project cost is extended as a loan-linked, final subsidy to develop coconut processing units for the development of value-added coconut commodity.
- Credit aid is given to support the consumer marketing of coconut goods by newspapers, to participate in shows / develop/ recruit display facilities in supermarkets, to implement appealing packaging, etc.
- @ 50% of project costs for individuals limited to Rs. 10.00 lakhs and Rs. 25.00 lakhs for co-operation organizations.
NPCS has served hundreds of thousands of clients, our experience in Techno-economic feasibility report, Integrated market study, Pre-feasibility study, and Comprehensive market survey for estimating the potential for Products, combined with our deep understanding of engagement issues across a wide array of industries, has resulted in an extensive and rich portfolio.
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