The nata de coco market can expect to garner a substantial growth rate between 2020 and 2027 (assessment period), projects Market Research Future (MRFR).
Major Boosters and Deterrents
Consumers today are extremely knowledgeable about the products that can boost their health and willingly spend significantly on the same that have high nutritive content and offer health benefits. Nata de coco is one such product that has high levels of fiber that elevate the digestion ability of the body. It also contains unsaturated fatty acids that is suitable for individuals affected by cardiovascular disorders. Nata de coco’s use is extensive in end use segments such as pharmaceutical, cosmetics, food and beverage, and many more. Consequently, the rapidly escalating demand for nata de coco in these industries will give rise to lucrative avenues for the worldwide market in the ensuing years.
The huge focus on maintenance of well-being and the emerging healthy living trend among consumers, in line with their rising purchasing capacity, will ensure consistent market growth. With increased purchase of premium & luxury cosmetic products infused with nata de coco will further enhance the market share. The product is extensively deployed as a major ingredient in coconut cakes, soft drinks, yogurts, fruit salad, and ice creams. Its surging application in numerous pharmaceuticals will augment the market dynamics as well.
Promotional efforts via social media and celebrity endorsements are some of the top advertising tactics generally followed by the renowned brands. Nata de coco is gaining the interest of majority of the millennials as well as the Gen Z populace, who are trying to live a healthier life and maintain a good well-being. Sensing these attractive opportunities in the worldwide market, several brands are launching different products with nata de coco, in highly aesthetic packaging. Consumer’s growing interest in purchasing health-fortifying items, particularly in developing regions would be a great opportunity as well.
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Product type, application, packaging, and distribution channel are the top segments covered in the MRFR study of the nata de coco industry.
Nata de coco market, with respect to product category, has been considered for juice drink, jelly drink, jelly, pudding, and more.
Nata de coco’s top applications include cosmetics, food and beverages, pharmaceutical, and others.
The various packaging forms are can, bottle, cup, box, sachet, and others.
Nata de coco is generally sold on distribution channels like convenience shop, hypermarket, e-commerce, supermarket, and more.
The top revenue generating region, Asia Pacific, will preside over the worldwide market owing to the fact that majority of the desserts made are infused with Nata de coco. Philippines coupled with Indonesia and India are some of the highest producers of coconuts and derivatives, which raises the demand for nata de coco in these countries. Additionally, the surging consumption of iced teas, and fruit jellies, primarily in South-East Asia combined with the accelerated demand for puddings as well as desserts that have nata de coco boost sales as well. In most of the emerging countries in Asia Pacific, there has been a drastic rise in the urbanization rate, along with surge in consumers’ disposable incomes and their desire to spend on premium health-boosting products. This could also be owing to the rising knowledge level among consumers regarding the products that bolster the well-being, especially in India and China.
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Manufacturers in the worldwide market are mostly emphasizing on boosting their rankings while capturing a substantial share. For this, they constantly strive to bolster their distribution channels and adopt competitive strategies such as product launch, acquisitions, collaborations, and agreements.
The reputed developers of nata de coco are Siva foods (India), Shireli Manufacturing (Philippines), Nata De Coco Manufacturing Sdn Bhd (Malaysia), Happy Alliance (M) Sdn Bhd (Malaysia), Schmecken Agro Food Products (India), HTK Foods (Viet Nam), Hainan Yeguo Foods Co., Ltd. (China), and more.
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