Creamed Coconut Market Size

Creamed Coconut Market size was valued at USD 2.57 billion in 2023 and is expected to exceed USD 6.35 billion by 2036, expanding at over 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of creamed coconut is assessed at USD 2.72 billion.

The growth of the market can be attributed to factors such as the rising trend of veganism across the world, increasing number of innovations associated with creamed coconut-based products and growing product requirement in the cosmetics industry. For instance, it is evaluated that in 2018, more than 15% of the total food product lines were vegan. Approximately 2 million people in Britain alone identify themselves as vegan. In addition, escalating usage of creamed coconut for curing several diseases, including diabetes, arthritis and Alzheimer’s disease, is also expected to boost market growth in the forthcoming years. Furthermore, the demand for creamed coconut is rising as the people’s preference is shifting towards this product owing to many health benefits associated with it. The creamed coconut market has seen a significant growth in the recent years as it is commonly used in the breakfast as a high-energy source food.