Coconut products have significant usage in food and beverages such as coconut milk, coconut oil and desiccated coconut which find diverse applications in cooking, bakery and confectionery products. The rising demand from food processing industry is driving the growth of global coconut products market. The Middle East coconut products market has exhibited substantial growth in recent years owing to changing lifestyle and food consumption patterns in the region. Countries such as Saudi Arabia, United Arab Emirates and Qatar have witnessed rapid urbanization and economic growth which has led to rising disposable income and increasing demand for packaged food items.
The global Middle East coconut products market is estimated to be valued at US$ 968.67 Mn in 2023 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 key trends:
The expanding food and beverage industry in Middle East is one of the key factors fueling the growth of coconut products market. Countries in the region are witnessing significant investments by food conglomerates to establish production and packaging facilities. For instance, Thai Agri Foods Public Company Ltd has set up a fully integrated coconut product manufacturing plant in Saudi Arabia to cater to the growing demand from local markets. Moreover, changing preferences of consumers towards healthy and natural products is also boosting the sales of coconut products. Coconut milk, water and oil are perceived as healthier substitutes for dairy and other edible oils due to presence of medium chain fatty acids and other essential nutrients. Leading manufacturers are launching innovative product formulations incorporating coconut to capture the market opportunity arising from increasing health consciousness among Middle East population.
Segment Analysis
The Middle East coconut products market is dominated by the desiccated coconut segment. Desiccated coconut accounted for around 40% of the overall market share in 2024. It is the most versatile coconut product with wide applications in bakery, confectionery and other foods. Its longer shelf life and easy storage properties make it popular among consumers and food processors in the Middle East region.
Key Takeaways
The global Middle East coconut products market growth is estimated to be valued at US$ 968.67 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis
The Middle East region is expected to witness high growth in coconut products market share led by countries like UAE, Saudi Arabia and Qatar. UAE currently dominates the coconut products market in the Middle East region with over 30% market share. Growing health consciousness and increasing demand for natural ingredients in food products is driving the demand for coconut products in UAE. Several government initiatives to promote coconut farming is further supporting market growth in the country.
Key players
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. These players are focusing on product innovation and expansion in distribution channels to strengthen their market position.
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