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Coconut Butter Market Trends

Report ID: GMI11998
Published Date: Oct 2024
Report Format: PDF

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Coconut Butter Market Trends

Recent trends indicate a growing incorporation of coconut butter into ready-to-eat snacks and health-centric products, such as protein bars and energy balls. Furthermore, there's a rising appetite for flavored coconut butter, with consumers exploring diverse taste profiles, from vanilla and chocolate to more savory notes. This diversification has broadened the market's appeal, especially among younger, flavor-curious consumers.

The beauty and personal care sector stand out as another significant catalyst for the market's expansion. A global pivot towards natural and clean-label beauty products has spurred the use of coconut butter in items like moisturizers, lip balms, and hair care solutions. Its hydrating and nourishing attributes have made coconut butter a favored ingredient, especially among eco-conscious consumers. The U.S. Food and Drug Administration (FDA) reports a 15% increase in the use of natural ingredients in personal care products over the past decade.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of coconut butter reached USD 232.6 million in 2023 and is set to grow at a 9% CAGR from 2024 to 2032, driven by heightened consumer awareness of plant-based and vegan diets.

The raw/unrefined coconut butter segment reached USD 90.2 million in 2023 and is anticipated to expand at a 9.4% CAGR from 2024 to 2032 due to its minimal processing and nutrient preservation.

The coconut butter market in the food and beverages segment was valued at USD 153.8 million in 2023 and is projected to grow at a 9.6% CAGR till 2032, led by its rising usage in vegan and plant-based recipes.

The U.S. market was valued at USD 56.2 million in 2023 and is projected to expand at a 10.5% CAGR until 2032, influenced by the health and wellness movement and a preference for clean-label, organic products.

The key players in the industry include Aethon International, Ceylon Coconut Company, Dalive, Jivaorganic Foods, Royal Nut Company, The Chattanooga Butter Company, Vedaoils, Wichy Plantation Company, and Wildly Organic.