In terms of value, the global coconut flour market is estimated to be valued at more than US$ 380 Mn in 2017 and is expected to cross US$ 720 Mn by the end of the forecast period. The global coconut flour market is slated to exhibit a CAGR of 6.6% in terms of value during the forecast period 2017 – 2027.
North America Coconut Flour Market Snapshot
In 2017, the coconut flour market in the North America region is estimated to be valued at more than US$ 140 Mn and is expected to register a CAGR of 6.8% over the forecast period to reach a market valuation of nearly US$ 274 Mn by the end of 2027. The market in the region is expected to create absolute $ opportunity of US$ 124.8 Mn between 2017 and 2027. The coconut flour market in North America is expected to remain dominant throughout the forecast period in terms of revenue contribution. However, the supply chain of coconut has a multi-layered and complex marketing channel, from production point of view to domestic and international marketing. The volume and value in the export of coconut flour are showing a significant increase.
Gluten intolerance spans a wide spectrum of product offerings infused with coconut flour
The main benefit of coconut flour is that it is completely gluten free. Presently there are millions of consumers who are allergic to wheat or are sensitive to gluten. Coconut flour is an alternative to wheat flour and is gradually becoming a substitute for wheat flour as far as gluten intolerant consumers are concerned. Today, a variety of products made from coconut flour are available in the market such as breads, muffins, pancakes, cakes, cookies and cupcakes; and these taste similar to products made from wheat flour. It is a delicious low carb, gluten free alternative to wheat. An estimated 30% of consumers are choosing gluten free products and almost 41% of the consumers in the United States believe that gluten free products are beneficial. All these factors are boosting the market for coconut flour, especially in North America.
Low production cost of coconut flour has enabled new entrants to enter the market
The economical production cost of coconut flour and the fact that it can be produced in both small and large quantities is one of the significant factors driving the coconut flour market in North America. The raw material for the production of coconut flour is obtained from the by-product (waste) of the coconut milk industry and the process as well as the equipment used in the production is simple and cheap. The by-product in processing coconut milk provides a value-added income to manufacturers along with a nutritional and healthy source of dietary fibre for consumers.
Unfavourable climatic conditions for the production of coconut
One of the major restraints for the production of coconut flour in the North America region is the unfavourable climatic conditions due to which coconut cannot be produced domestically. The fruit is either exported from Latin America or from the Asia Pacific countries were coconut is available readily. Brazil was the top coconut producing country till 2010; however, now three Asian countries namely Philippines, Indonesia, and India are the major coconut producing countries. Almost 90% of the global supply of coconuts comes from Asia. The Philippines exports more than $1 billion worth of coconuts to the United States alone.
North America Coconut Flour Market Attractiveness Analysis
Among all the types, the market for organic coconut flour is expected to register the highest CAGR of 6.8% in terms of volume during the forecast period. For instance, Bob’s Red Mill Paleo Baking Flour which includes almond flour, arrowroot starch, coconut flour, and tapioca flour was launched by the company in 2016. The product has been quite popular amongst consumers. Companies are catering to the service of grain-free lifestyle, as consumers are looking for more unique gluten free flour blends. The millennial generation is the major contributor to this ongoing trend in the region.
“The wide-ranging benefits of coconut flour are boosting its demand in the European and North American markets
Individual consumers are gradually becoming aware about the various beneficial properties of coconut flour. Coconut flour products are surging in the market as an alternative for baking ingredients in the United States and Europe. It is gaining traction amongst consumers during festival seasons such as Christmas and New Year Eve in Europe. The ingredient is being added to supplement healthy diets owing to its benefits such as antibacterial and antifungal properties.”
--- Analyst – Food & Beverages, Future Market Insights
Future Market Insights presents an in-depth and insightful report on the global coconut flour market titled ‘Coconut Flour Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’. The report starts with an executive summary that lists the overall market approach of the key players operating in the coconut flour market and their differentiating strategy. Target regions and target applications that are most lucrative in the global coconut flour market are also discussed in this section. The executive summary also lists the prominent drivers, restraints and trends in the coconut flour market and a list of key market players operating in the market. In addition, important market numbers comprising market size (US Mn) and market volume (000’ Tonnes) for the years 2017 and 2027 along with the CAGR for the forecast period are also given. Region-wise market split and value and volume CAGR is also mentioned in the executive summary. The market overview section gives an introduction to the global coconut flour market and also highlights the various applications of coconut flour.
By End Use
By Product Form
Whole Full Fat Flour
Low Fat High Fibre Flour
Medium Fat Flour
Asia Pacific Excluding Japan
Middle East and Africa
After the market taxonomy, the next section of the report contains a list of the forecast factors affecting the global coconut flour market and their relevance and impact along with the perspective and assumptions by Future Market Insights for the analysis. The macroeconomic factors that are influencing the global coconut flour market are also discussed in detail. After this, the subsequent sections of the report deal with the region-wise analysis and forecast of the coconut flour market. The regions are earmarked as per the market taxonomy and for each region key regulations governing the coconut flour market are given. Also, a PESTLE analysis of the coconut flour market is done for each region, which covers the political, economic, social, technological, legal and environmental aspects of the coconut flour market. In addition, Porter’s Five Force Model that is important for new entrants to the market and also for established players in the market as it discusses lucidly the framework for analysing the competition in the global coconut flour market along with business strategy development is also discussed in detail for each region. Thereafter, pricing analysis by end user for each region is also given. After this, market dynamics operating in the specific regions pertaining to the coconut flour market are also given. The market dynamics consists of the drivers, restraints and the latest trends in a specific region of the coconut flour market. A section of the report is devoted to the regional snapshot of the coconut flour market that gives important market numbers such as forecasts by country, Basis Point Share analysis, year-on-year growth projections, absolute dollar opportunity and market attractiveness analysis.
An entire section of the report focusses on the competition landscape of the global coconut flour market. This competition landscape gives a dashboard view of the key companies operating in the global coconut flour market along with their important information and broad strategy adopted to stay as leaders in the global coconut flour market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented. A SWOT analysis of each leading market player is also presented here. This competition landscape is the most important section of the report as it imparts a deep understanding of the top players operating in the global coconut flour market. The report also presents the pricing analysis and the value chain analysis of the global coconut flour market.
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies in the global coconut flour market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated with the help of the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global coconut flour market.