Coconut Flour Market To Reach USD 5.5 Billion By 2032, Says DataHorizzon Research
The coconut flour market size was valued at USD 2.8 Billion in 2023 and is expected to reach a market size of USD 5.5 Billion by 2032 at a CAGR of 7.6%.
Fort Collins, Colorado, April 23, 2024 (GLOBE NEWSWIRE) --*Consumer preference for gluten-free and health-conscious food options drives industry growth.*
The rise in consumer preference for gluten-free and health-conscious food options has served as a significant catalyst for the growth of the *coconut flour market.* With an increasing awareness of health issues, there's been a notable surge in demand for alternatives to traditional wheat flour, especially among individuals with gluten intolerances or celiac disease. Coconut flour, naturally gluten-free and boasting a high fiber content, has emerged as a sought-after choice in the baking industry.
Coconut flour offers various functional benefits that have contributed to its popularity. Notably, it is low in carbohydrates and rich in fiber, making it an appealing option for those adhering to low-carb or keto diets. Additionally, coconut flour is packed with essential nutrients such as manganese, copper, and selenium, further augmenting its appeal as a wholesome ingredient choice. This combination of health-conscious attributes has propelled coconut flour to the forefront of the market, meeting health-conscious consumers' evolving needs and preferences.
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*Segmentation Overview:*
*The coconut flour market has been segmented into product type, nature, application, and region.*
*The conventional coconut flour segment is projected to drive segment growth.*
· The market is segmented into organic and conventional coconut flour. Conventional coconut flour holds a major share of the market's product type segment. This demand can be attributed to its widespread availability, lower costs, and established supply chains, which cater to a more extensive consumer base seeking affordable options.
*The food & beverages application is projected to account for a substantial share in the forecast period.*
· Based on the application, the market segmentation includes food & beverages, animal feed, personal care & cosmetics, and others. The food & beverages application is expected to hold a significant share of the application segment of the coconut flour market. This segment accounts for a substantial portion of coconut flour usage due to its increasing popularity as a gluten-free, low-carb, and high-fiber alternative to traditional flour in baked goods, snacks, and other food products. The growing demand for healthy and natural ingredients, coupled with the rising prevalence of dietary restrictions and preferences, contributes to the dominance of this segment.
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*Coconut Flour Market Report Highlights:*
· The coconut flour market growth is anticipated at a* CAGR of 7.6% by 2032.*
· The growing demand for gluten-free and healthy products will drive the coconut flour market.
· The Asia-Pacific region has historically held a significant market share and is projected to retain a leading position in the coming years.
· Some prominent players in the coconut flour market report include Bob's Red Mill Natural Foods, Nutiva, Arrowhead Mills, Edward & Sons, Fiesta Tropicale, Celebes Coconut Corporation, Coconut Secret, Nutrabio, Nutrisure, Wilderness Family Naturals, Hodgson Mill, By Nature, and others.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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