The coconut flour industry size is projected to be worth USD 2,984.2 million in 2023. The industry is likely to reach USD 6,325.6 million by 2033. The industry is further expected to surge at a CAGR of 7.8% during the forecast period 2023 to 2033.
Key Industry Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Coconut Flour Industry Estimated Size in 2023 | USD 2,984.2 million |
| Projected Industry Value in 2033 | USD 6,325.6 million |
| Value-based CAGR from 2023 to 2033 | 7.8% |
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The scope for coconut flour rose at a 7.2% CAGR between 2018 and 2022. The global industry for coconut flour is anticipated to grow at a moderate CAGR of 7.8% over the forecast period 2023 to 2033.
| Report Attributes | Details |
|---|---|
| Industry Value in 2018 | USD 1,859.8 million |
| Industry Value in 2022 | USD 2,456.2 million |
| CAGR from 2018 to 2022 | 7.2% |
The coconut flour industry witnessed steady growth during the historical period 2018 to 2022. The growth of the industry was attributed to the increasing demand for gluten-free and low-carb baked goods and confectionery products, as well as growing awareness of the health benefits of coconut flour.
The bakery and confectionery was the largest segment of the coconut flour industry during the historical period, owing to the increasing demand for gluten-free and low-carb baked goods and confectionery products. There are a few other trends that are expected to drive the growth of the coconut flour industry during the forecast period.
The trends include the increasing popularity of keto and paleo diets, which often include coconut flour as a key ingredient, the growing demand for plant-based and vegan food products, of which coconut flour is a popular ingredient, and the expanding use of coconut flour in food processing applications, such as breading and batters.
The coconut flour industry is a growing industry with a number of opportunities for growth. The key factors driving the growth of the industry are expected to remain the same during the forecast period 2023 to 2033. Other factors such as the growing demand for organic coconut flour and the increasing use of coconut flour in emerging applications, are also expected to emerge during the forecast period.
Principal Consultant
The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United States and China. Both countries are expected to lead the industry through 2033.
Forecast CAGRs from 2023 to 2033
| The United States | 3.5% |
|---|---|
| Germany | 6.8% |
| Japan | 3.1% |
| Australia | 9.4% |
| China | 1.2% |
Industry Shares in 2033
| The United States | 21.5% |
|---|---|
| Germany | 11.2% |
| Japan | 5.3% |
| Australia | 2.5% |
| China | 16.7% |
The coconut flour industry in the United States is expected to expand at a CAGR of 3.5% through 2033.
The popularity of gluten-free and grain-free diets, driven by celiac disease, gluten sensitivity, and a preference for healthier options, has increased the demand for coconut flour as a gluten-free alternative in baking and cooking. Coconut flour is widely used in gluten-free baking and cooking, including making gluten-free bread, pancakes, muffins, and pizza crusts. It provides a unique texture and flavor to gluten-free recipes.
Growing health consciousness among consumers has led to increased interest in healthier and natural food options. Coconut flour is perceived as a nutritious and wholesome choice due to its low carbohydrate content, high fibre content, and potential health benefits.
The rise of plant-based diets, including vegan and vegetarian lifestyles, has boosted the demand for coconut flour as it is plant-derived and aligns with these dietary preferences. Coconut flour is compliant with the paleo diet, which emphasizes whole foods and excludes grains. The diet's popularity has contributed to the growth of coconut flour consumption. The coconut flour industry in the United States is expected to account for a share of 21.5% in 2033.
The coconut flour industry in Germany is anticipated to expand at a CAGR of 6.8% through 2033.
Rising health awareness among consumers in Germany has led to a greater emphasis on healthier dietary choices. Coconut flour is perceived as a nutritious option due to its low carbohydrate content, high fibre content, and potential health benefits.
The global trend of adopting gluten-free and grain-free diets has also gained popularity in Germany. Coconut flour is sought after as a gluten-free alternative for baking and cooking, particularly among those with gluten sensitivities.
The growing interest in plant-based and vegan diets aligns with coconut flour's plant-derived nature, making it a suitable choice for individuals following these dietary lifestyles. The consumers in Germany are increasingly exploring global cuisines, which often incorporate coconut flour in various recipes. The exposure to international flavors is driving the demand for coconut-based products.
Coconut flour is rich in dietary fibre, which is associated with digestive health and can help regulate blood sugar levels. It also contains essential nutrients, including protein, vitamins, and minerals, making it an attractive ingredient for health-conscious consumers. The coconut flour industry in Germany is expected to account for a share of 11.2% in 2033.
The coconut flour industry in Japan is poised to expand at a CAGR of 3.1% through 2033.
The trend of adopting gluten-free and grain-free diets has also gained popularity in Japan. Coconut flour is a sought-after gluten-free alternative for baking and cooking, particularly among those with gluten sensitivities.
Coconut flour's versatility in cooking and baking, including its use in gluten-free recipes, has made it popular among home cooks and food manufacturers looking for alternative ingredients.
Japanese food manufacturers are increasingly innovating by introducing new coconut flour-based products, such as gluten-free snacks, bakery items, and convenience foods. The growing demand for healthier snacks has led to the use of coconut flour in the production of snacks like energy bars, granola, and baked goods. The coconut flour industry in Japan is expected to account for a share of 5.3% in 2033.
Coconut flour trends in Australia are taking a turn for the better. A 9.4% CAGR is forecast for the country from 2023 to 2033.
The global trend of adopting gluten-free and grain-free diets has also gained popularity in Australia. Coconut flour is a sought-after gluten-free alternative for baking and cooking, particularly among those with gluten sensitivities. Coconut flour can be used in both traditional recipes and modern fusion dishes.
The growing interest in plant-based diets, including vegan and vegetarian lifestyles, aligns with coconut flour's plant-derived nature, making it suitable for individuals following these dietary lifestyles. Coconut flour's versatility in cooking and baking, including its use in gluten-free recipes, has made it popular among home cooks and food manufacturers looking for alternative ingredients.
Coconut flour is rich in dietary fibre, which supports digestive health and helps regulate blood sugar levels. It also contains essential nutrients, including protein, vitamins, and minerals, making it an attractive ingredient for health-conscious consumers.
Australian food manufacturers are increasingly innovating by introducing new coconut flour-based products, such as gluten-free snacks, bakery items, and convenience foods. The growing demand for healthier snacks has led to the use of coconut flour in the production of snacks like energy bars, granola, and baked goods. The coconut flour industry in Australia is expected to account for a share of 2.5% in 2033.
The coconut flour industry in China is anticipated to expand at a CAGR of 1.2% through 2033.
Food manufacturers in the China are increasingly innovating by introducing new coconut flour-based products, such as gluten-free snacks, bakery items, and convenience foods. Coconut flour is becoming more widely available in Chinese grocery stores, health food stores, and e-commerce platforms, making it accessible to a broader range of consumers.
The Chinese consumers are increasingly looking for clean label products with minimal additives and natural ingredients. Coconut flour's natural and minimally processed qualities align with these preferences. Some companies offer custom blending services, allowing consumers to create their own flour blends, including coconut flour, to meet specific dietary needs or preferences.
Ethical and sustainable sourcing practices for coconuts are gaining importance, and brands that emphasize these practices can appeal to environmentally conscious Chinese consumers. Coconut flour is a key ingredient in various global cuisines, and as Chinese consumers explore international flavors, the demand for coconut flour grows. The coconut flour industry in China is expected to account for a share of 16.7% in 2033.
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The below table highlights how organic segment is projected to lead the industry in terms of nature, and is expected to account for a share of 13.7% in 2033.
Based on end use application, the baked products segment is expected to account for a share of 43.5% in 2033.
| Category | Shares (in 2033) |
|---|---|
| Organic | 13.7% |
| Baked Products | 43.5% |
Based on nature, the organic segment is expected to continue dominating the coconut flour industry.
Organic coconut flour is perceived as a healthier option compared to conventional counterparts. Consumers are increasingly health-conscious and prefer products that are free from synthetic pesticides, chemicals, and genetically modified organisms (GMOs).
Organic coconut flour is produced from coconuts grown using organic farming practices, that exclude the use of synthetic pesticides, herbicides, and fertilizers, which appeals to consumers who are concerned about the potential health risks associated with chemical residues in food.
Organic coconut flour is typically non-GMO and has a cleaner label, meaning it contains fewer additives and is minimally processed. Clean label products are in demand as consumers seek more natural and transparent food options.
Organic farming practices are often more environmentally sustainable, emphasizing soil health, biodiversity, and reduced chemical runoff, which aligns with the values of consumers who are environmentally conscious and concerned about sustainability.
Based on end use application, the baked products segment is expected to continue dominating the coconut flour industry.
Coconut flour is a popular choice for gluten-free baking, catering to individuals with celiac disease, gluten sensitivities, or those following gluten-free diets. It serves as an effective alternative to traditional wheat flours, allowing the creation of gluten-free baked products.
Coconut flour becomes a valuable ingredient due to its low carbohydrate content, as low-carb and ketogenic diets gain popularity. It can be used to make low-carb baked goods such as bread, muffins, and pancakes.
Coconut flour is rich in dietary fiber, which adds moisture and texture to baked products. The fiber content is appealing to health-conscious consumers, as it supports digestive health and can help regulate blood sugar levels.
Coconut flour contains essential nutrients, including protein, vitamins, and minerals, making it a nutritious addition to baked products. The nutritional profile attracts consumers seeking healthier baked goods.
The key strategies chosen by large companies include several growth strategies such as technology development, expansion as well and mergers and acquisitions to surge industry share, reach and revenue.
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 2,984.2 million |
| Projected Industry Valuation in 2033 | USD 6,325.6 million |
| Value-based CAGR 2023 to 2033 | 7.8% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Industry Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Industry Segments Covered | End Use, Application, Product Form, Technology, Nature, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Nutrisure Ltd.; Bob’s Red Mill Natural Foods; The Coconut Company; Van Amerongen& Son.; Smith Naturals; Premix Coco Products Inc.; Nutiva Inc.; Healthy Traditional; Celebs Coconut Corporation; Connecticut Coconut Company |
The coconut flour industry is expected to reach USD 2,984.2 million in 2023.
The industry for coconut flour is set to expand by a CAGR of 7.8% by 2033.
The coconut flour industry is forecast to reach USD 6,325.6 million by 2033.
The United States is to be the top performing industry, with a share of 21.5% in 2033.
Organic segment is preferred, and is expected to account for a share of 13.7% in 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End-Use 5.1. Retail 5.1.1. Conventional / Grocery Stores 5.1.2. Modern Trade 5.1.3. E-retailers 5.2. Industrial 6. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Snack Foods 6.1.1. Polvoron 6.1.2. Multi-Grain Chips 6.1.3. Extruded Products 6.1.4. Kroepeck 6.2. Baked Products 6.2.1. Cookies 6.2.2. Bread 6.2.3. Cakes 6.3. Animal Feed 6.4. Extruded Products 7. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Form 7.1. Low Fat High Fibre Flour 7.2. Medium Fat Flour 7.3. Whole Full Fat Flour 8. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Technology 8.1. Wet Process 8.2. Fresh-Dry Process 9. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature 9.1. Organic 9.2. Conventional 10. Global Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Industry Analysis and Outlook 19. Market Structure Analysis 20. Competition Analysis 20.1. Nutrisure Ltd 20.2. Bob’s Red Mill Natural Foods 20.3. The Coconut Company 20.4. Van Amerongen & Son 20.5. Smith Naturals 20.6. Celebs Coconut Corporation 20.7. Premix Coco Products Inc. 20.8. Nutrisure Ltd. 20.9. Nutiva, Inc 20.10. Healthy Traditional 21. Assumptions & Acronyms Used 22. Research Methodology
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