Market Research Future (MRFR) expects the nata de coco market to garner significant impetus from 2022 to 2030 (evaluation period).
Major Drivers and Impediments
Consumers are increasingly growing aware and conscious about their health and are more than willing to spend on premium food items that have rich nutritive value as well as health benefits. Nata de coco market contains significant amounts of fiber, which enhances the digestion capacity of the body. The product also has unsaturated fatty acids that works wonders for patients struggling with cardiovascular disorders. Nata de coco’s key applications are in ends use sectors like food and beverage, pharmaceutical, cosmetics and many more. As a result, the consistently rising product demand in these sectors is bound to create favorable avenues for the global market in the following years.
The emerging trend of rising focus on well-being and healthy living along with the surge in the purchasing capacity of consumers have boosted the spending on premium and luxury products, which should also work in favor of the global industry. Mounting knowledge about the host of health benefits possessed by nata de coco and the various product types available in the market also bolster the sales. It is extensively used as a key ingredient in soft drinks, coconut cakes, ice creams, yogurts, and fruit salad. Moreover, its surging application range in a variety of cosmetics will alter the market dynamics, for the better.
Promotional activities on social media coupled with celebrity endorsements are the marketing tactics commonly adopted by leading brands. Nata de coco has sparked the interest of the millennial and Gen Z populations looking to add to their healthy lifestyle and maintain their well-being. Sensing the host of opportunities presented by the market, several manufacturers are introducing new products with added features as well as more aesthetically pleasing packaging. Consumer’s rising willingness towards buying health-fortifying products has been the result of the increasing purchasing power, especially in emerging regions. Premiumization is the fastest emerging opportunities in developing countries and can be highly lucrative for the manufacturers. Distinctive flavor and texture, along with weight loss properties of nata de coco can also raise its demand among consumers. Manufacturers are increasingly spending on flavor and texture innovation to launch products with different extracts, with the most popular being almond, banana, orange, vanilla, strawberry, to name a few.
Product type, application, packaging, and distribution channels are the key categories listed in the MRFR report, to offer an enhanced understanding of the global market for nata de coco.
Nata de coco market, depending on product category, caters to jelly drink, juice drink, pudding, jelly, and others.
Nata de coco’s major applications are cosmetics, pharmaceutical, food and beverages, and others
The different packaging forms in which nata de coco is mostly available in the market include can, cup, bottle, sachet, box, and others
Nata de coco is primarily sold on various distribution channels, namely hypermarket, convenience shop, supermarket, e-commerce, and more. Surging technological awareness, rising internet penetration and the COVID-19 outbreak resulting in strict lockdowns have bolstered the demand for e-commerce channels. As a result, the segment is touted to capture the fastest growth rate in the years ahead.
The Nata de coco industry can be regionally dissected into Europe, North America, Asia Pacific/APAC, as well as Rest of the World (RoW).
The highest revenue generating market is APAC, where most of the desserts are prepared using Nata de coco. Philippines (the origin of nata de coco), India and Indonesia are the biggest producers of coconut and its derivatives, which works in favor of the regional industry. In addition, the mounting preference for fruit jellies and iced teas, especially in South-East Asia as well as the soaring consumption of puddings and desserts containing nata de coco has fostered the sales in the region. moreover, dramatic increase in urbanization, surging in disposable income and the rising spending on premium healthy products should ensure expansion of the market size in the region. The accelerated awareness levels among consumers about the latest products, especially in the highly populous countries like India and China will foster the sales in the following years. Rapid growth in the industrialization rate and the surging focus of the younger generation on leading a healthier lifestyle should also ensure steady market development in the following years.
Some of the leading manufacturers of nata de coco in the global market include Happy Alliance (M) Sdn Bhd (Malaysia), HTK Foods (Viet Nam), Hainan Yeguo Foods Co., Ltd. (China), Nata De Coco Manufacturing Sdn Bhd (Malaysia), Shireli Manufacturing (Philippines, Schmecken Agro Food Products (India), Siva foods (India),
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