Coconut flour is one of the digestible carbohydrate which is gluten-free and is cheaper as compared with other nut flours. Coconut flour is expected to register a single digit CAGR over the forecast period. Coconut flour is made from finely grounded coconut meat from which most of the moisture and fat is removed. Coconut flour is a rich source of protein as compared with wheat flour. Coconut flour based food products does not have complications on blood sugar level than products made from wheat flours. Demand for coconut flour is gaining more popularity in the consumers worldwide which are intolerable to flours containing presence of gluten in the products. Coconut flour is boosting as an alternative for baking ingredients along with gaining wide importance in the baking industry. Coconut flour contains high fiber content that makes it greatly absorbent in various flour-based recipes globally. Coconut flour is mostly consumed by people which are having complications such as gluten sensitivity, celiac disease, and leaky gut syndrome.
Global Coconut Flour: Market Segmentation
The global coconut flour market is segmented on the basis of nature, type, application, distribution channels, and region. The coconut flour market is segmented on the basis of nature such as non-organic or conventional coconut flour and organic coconut flour. The organic coconut flour is gaining more popularity in the consumers due to the presence of high fiber in the coconut flour-based food products. The global coconut flour market is segmented on the basis of types in full fat flour, low fat flour, defatted, paired and other flour types. The global coconut flour market is segmented on the basis of application type in which coconut flour is used in applications in food products as an ingredient and topping. Application as an ingredients includes bakery products such as cakes, muffins, pancakes, doughnut holes, waffles, buns, and bagels. Coconut flour is also used as a topping, decoration purpose in bakery and confectionery products. The global coconut flour market is also segmented on the basis of distribution channels such as supermarkets/hypermarkets, online stores and retails stores.
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Global Coconut Flour Market: Regional Outlook
Geographically, the global coconut flour industry can be divided by major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, Middle East and Africa. Globally, among all regions, Asia Pacific has developed as the dominant region in global coconut flour market followed by Latin America. Increasing consumer shift towards high fiber bakery products coupled with high consumption of gluten-free food products, has strengthened the growth of global coconut flour market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
Global Coconut Flour Market: Growth Drivers
Increasing consumer demand for ready-to-eat snack foods that are gluten-free is a major driving factor of the global coconut flour market. Increasing opportunities in baking industry is also another factor in driving the global coconut flour market. As coconut flour-based food products that provides high fiber content is acts as an attractive factor as label claim globally. Increased shelf life without affecting product quality is also another major driving factor in global coconut flour market. Coconut flour is off-white- white, odour free and bland in taste , hence very well mixed as an ingredient in all recipes, provides good option for gluten-free flour.
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Global Coconut Flour Market: Key Players
Some of the key players identified across the value chain of the global coconut flour market include Celebes Coconut Corporation, Connectinut Coconut Company, Van Amerongen & Son, Peter Paul Philippine Corporation, Coconut Secret, the groovyfood company, Bob’s Red Mill Natural Foods, Smith Naturals, Asia Botanicals Sdn. Bhd, Nutiva, Inc., and Nutrisure Ltd. (Supernutrients). The companies are expected to expand their business by enhancing their product portfolio in global coconut flour market. The strong distribution of coconut flour is also key driver for market growth.
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