According to Future Market Insights, the global coconut wraps market is poised to register a value CAGR of 6.5% across the 2023 to 2033 forecast period. By the end of 2023, sales of coconut wraps are expected to reach a valuation of US$ 999 million, and will eventually increase to US$ 1,875.22 million in 2033. Rising health consciousness and increasing demand for food products devoid of gluten are expected to act as some of the most important growth drivers for the market.
In recent years, consumers have incorporated gluten-free diets as a part of a broader healthy eating regime, which typically includes grain-free or low-fat carbohydrate diets such as paleo and keto. In addition, the rising prevalence of gluten intolerance is prompting consumers to alter their consumption patterns, leading to a rise in sales of alternative fiber intake. Coconut wraps are proving to be an effective alternative, replacing wheat-based ingredients in foods such as tortillas.
Gluten intolerance, or celiac disease, is an autoimmune condition where the patient reacts to gluten-containing grains such as wheat, barley, and rye. The disease attacks the lining of the small intestine, leading to malnutrition and related medical complications. Over 80% of the cases remain undiagnosed, with more than 3 million people being affected, especially in the USA. Hence, demand for non-gluten ingredients, such as coconut wraps, is expected to be in high demand across the region.
Besides, coconut wraps are packed with a range of beneficial nutrients that help strengthen and protect the heart, and boost the immune system. One of the many benefits of young coconut meat is its high fiber content. One cup contains over 7 grams of fiber, which is more than 20% of the recommended daily amount. Another vital trace mineral component is manganese. Manganese helps strengthen bone health, imparts strong antioxidant properties, helps reduce inflammation, and helps metabolize both fat and protein easily. Coconut contains a healthy dose of vitamins A and E and polyphenols and phytosterols that work together to decrease the level of LDL cholesterol.
Attributed to the aforementioned benefits, food manufacturers are foraying into the coconut wraps domain. While still in the foundational growth stage, the market for coconut wraps expects to assume concrete shape in the years to come, with numerous market players looking to intensify their investments. One significant player in this regard is WrawP.
WrawP offers 100% organic veggie wraps, coconut wraps, and pizza crusts. These are made from 100% real fruits, vegetables, and super-food spices. With regard to coconut wraps, they are fully organic, containing ground coconut meat. Once the coconut meat is grounded, they imbue it with 100% certified organic psyllium husk- a dietary fiber that regulates digestion and can help lower blood sugar and cholesterol levels. Additionally, these wraps come in three different flavors- the Original Coco Nori Coconut Wrap, Spirulina, Strawberry and Chia & Turmeric. While they can be used right out of the package, they can also be baked or pan-fried.
Similarly, Nucoconut, or NUCO, offers organic coconut wraps, which are gluten-free, and grain-free, and offer a low-carb alternative to bread and tortilla. It's just 3 simple organic ingredients: coconut meat, coconut water, and unrefined virgin coconut oil. The wrap is pliable/foldable and can be used in many applications and recipes. It is available in four unique flavors. Additionally, a non-organic variant of the product is also available. The products are USDA-certified and non-GMO.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 999 million |
| Anticipated Market Value in 2033 | US$ 1,875.22 million |
| Growth Rate (2023 to 2033) | CAGR of 6.5% |
The coconut wraps are yet at an introductory phase but are expected to grow rapidly over the forecast period. As the millennial, keto lovers are taken away by storm and extensively demanding the coconut wraps as they are becoming very popular as an alternative to tortilla. The consumers looking for low carb or an alternative to tortilla are considering coconut warps as new big thing. The manufactures are providing coconut wraps in different flavors with free-from diets approved.
The coconut wraps are formulated like conventional tortilla and perfectly cooks for making dessert, sandwich, salad and many other recopies. The coconut wraps are manufactured using coconut water, coconut meat and coconut oil which enables the coconut wraps to be perfect for consumers who follow an alternative diet. The coconut wraps are not only diet friendly but are also free from grains, dairy, starch, yeast, soy and others.
North America is expected to be the dominant region in the global coconut wraps market as USA is the largest importer of coconut and coconut products. The manufactures in North America are equipped with latest technologies and have funds for research and developments. Europe is anticipated to have the fastest growth owing to increase in adoption of coconut products.
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There are large number of consumers accepting low carb diets such as paleo and atkin, vegan, gluten-free and many others. Free-from diet continues to be the fastest growing trend which is not only followed by coeliac patient but also followed by health conscious individuals holding the belief that free-from products will help them to overcome health issues and support healthy living. This are creating pressure over baked goods manufacturers as consumers are turning away from the baked goods.
To keep up with the rising demand for free-from foods, the manufacturers are focused towards launching sub brands of their flagship brands which are doing well among consumers from all the socioeconomic backgrounds. The startup companies are strategizing to develop and provide such innovative products which includes Nucoconut (NuCo) in USA. This coconut wraps are gluten-free, organic, vegan, raw, paleo and ticks all the other trending health buzz words.
The coconut wraps are full of beneficial nutrients that help protect heart, power immune system. The coconut wraps manufactured using coconut meat and oil provides fiber, manganese, vitamin A, vitamin E, phytosterols, polyphenols and others. The coconut wraps are also significant source of iron when compared to tortilla or breads.
Coconut wraps are loaded with health beneficial properties, hence are growing in large demand. With growing awareness about coconut and its products the demand for coconut wraps is also expected to grow over the forecast period. To cater the demand the manufacturers are expected to adopt this alternative and launch new products with more innovation in flavors, shape and size. There are very few number of players operating in the coconut wraps market.
The competition among the players of coconut wraps market is very less due to lack of large number of players. The startup companies are investing more to develop innovative products like coconut wraps. Coconut products are gaining popularity owing to their health benefits. Therefore more companies are expected to enter the market focusing to provide inventive coconut products.
Principal Consultant
The key players in the global Coconut wraps market are:
The research report presents a comprehensive assessment of the Coconut wraps market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as source and application.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The Coconut wraps market can be segmented based on source and application
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