Coconut Butter Market Size

Coconut Butter Market Size

The global coconut butter market size was valued at USD 232.6 million in 2023 and is estimated to grow at a CAGR of over 9% from 2024 to 2032, attributed to heightened consumer awareness surrounding plant-based and vegan diets, a growing preference for organic products, and an escalating demand within the beauty and cosmetics sector. Coconut butter, celebrated for its healthy fats, antioxidants, and myriad beneficial properties, has found its way into food and beverages, personal care, and pharmaceuticals.

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The food and beverage sector has increasingly turned to coconut butter as a plant-based substitute for traditional dairy butter. With a shift towards healthier, natural ingredients, coconut butter is now a favored choice in spreads, desserts, smoothies, and various vegan recipes. Notably, the vegan and vegetarian communities have played a pivotal role in driving this demand. According to the USDA, the demand for plant-based foods has grown by 11% annually over the past five years. As of 2024, this momentum has solidified coconut butter's status as a pantry essential in numerous households across the U.S., Europe, and the burgeoning markets of Asia-Pacific.