Coconut spread is a healthy food made from dried coconuts flesh. Coconut spread or jam is made from coconut milk base, sugar, and eggs. Coconut spread and jams are famous in countries in South Asia such as Philippines, Malaysia, Singapore, Indonesia etc. Coconut spread or jam is used in food industry for preparing pancakes, waffles etc. Coconut spread is consumed by health conscious consumers as it is a source of dietary fibers and also contains auric acid which is good for health. Pure coconut spread can be stored at room temperature, on heating, it becomes pourable and silky. As being healthy, vegan, and tasty option for other expensive spreads coconut global spread market is expected to grow at a significant rate over the forecast period.
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Depending on geographies global coconut spread market is segmented into five key regions: North America, Latin America, Europe, Middle East and Africa and Asia Pacific. Coconut spreads are most popular in Asia Pacific market, mainly in Malaysia, Indonesia, Singapore, Philippines etc. In Malaysia, Singapore and Indonesia coconut spread are used as topping for many food products such as deserts. Thus, Asia Pacific grabs major market shares of global coconut spread market in terms of consumption as well as production. Production of coconut spread is growing fast due to easy availability of coconuts as well as increasing demand from the global market. Due to easy availability of coconuts, Sri Lanka is one of the major producers of coconut spreads and jams in amongst Asia-Pacific countries.
Coconut spread is used in food industry as a topping for desserts, coffee creamer etc. which is gaining demand globally driving the global market for coconut spreads. Manufacturers are focusing on launching flavored coconut spreads such as honey based coconut spread, vanilla coconut spread, chocolate coconut spread etc. to cater to rising demand of coconut spreads from consumers. Growing number of the health-conscious consumer looking for healthy and tasty food options is another factor fueling the growth of the coconut spread market. Increasing sale of coconut spreads and jams on online stores as well as in convenience stores plays a key role in growing coconut spread and jam market globally.
Some of the key players identified across the value chain of the global coconut spread market include Nikki’s Coconut Butter, Nutiva, Inc., Cocomi Bio Organic, CocoVie Naturals, Windmill Organics, AYAM SARL., Marina foods (Pvt) Ltd., Mayvers, Ecoideas etc.