Coconut Flour Market: Western Europe Projected to be the Most Attractive Regional Market over the Forecast Period
Valley Cottage, NY -- (SBWIRE) -- 09/29/2017 -- Key excerpts from Future Market Insights' latest report on the global coconut flour market projects that by the end of 2026, around 850.8 Thousand Tonnes of coconut flour is expected to be consumed across the globe. Increasing awareness amongst consumers about health benefits of coconut flour is expected to fuel its demand over the next couple of years. Moreover, coconut flour is gluten-free, making it consumable for those who are allergic to wheat or are sensitive to other similar gluten-based substances. Coconut flour has emerged as a good alternative for wheat flour. In recent past coconut flour has also seen a surge in its sales, owing to the rising demand for functional flour.
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In terms of production, China is the leading producer of Coconut Flour followed by Poland, Germany, Chile and Austria. Production of coconut flour in Ukraine has also spiralled in last 3 years. Meanwhile, the Western Europe region holds the top position in terms of consumption followed by North America. Most European consumers value quality and prefer natural products that are healthy and carry no side effects, hence the demand for healthy food products such as coconut flour is significantly high in this region. In North America, the U.S. is a major importer of coconut flour and accounts for a sizeable share of the market.
The FMI report titled "Coconut Flour Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027" reveals that the global coconut flour market is set to expand at a CAGR of 6.6% to reach a valuation of 725.5 Mn by the end of forecast period. In 2017 and beyond, the market is expected to be governed by a number of trends, which include:
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-Soaring popularity of coconut flour tortillas in several parts of the world. From an exotic food item, coconut flour tortillas are now turning into mainstream pantry food.
-In countries such as Japan and the U.S., people are trying to developing new products using coconut flour as a key ingredient. Tortilla chips made with coconut flour has been a great success and well appreciated by food lovers.
-Coconut flour is being increasingly used in manufacturing the nutritional bars, chocolate fillings, and other baking products such as pizza base, and bread.
-Growing demand for coconut flour based food products in the emerging countries such as China and India.
-Increased availability of coconut flour, owing to setting up of organised retail structures in both developed and developing regions.
Celebs Coconut Corporation, Nutrisure Ltd., Nutiva, Inc, Bob's Red Mill Natural Foods, Primex Coco Products Inc., The Coconut Company, Connecticut Coconut Company, Van Amerongen & Son., Healthy Traditions and Smith Naturals are some of leading manufacturers of coconut flour profiled in the FMI report.