Nata De Coco Market - by product category (juice drink), application (food and beverages) and packaging (bottle, can, box), distribution channel (supermarket, hypermarket, convenience shop, E-commerce and others) Region - Forecast to 2022
Pune, India -- (SBWIRE) -- 04/02/2018 -- Market Overview:
Nata de coco is a traditional Phillipine dessert which is prepared using coconut gel extracted from coconut juice using bacterial fermentation. There has been stable demand for the product and the nata de coco segment has huge export potential as it generates income for the farmers and local dwellers as they are the coconut milk suppliers.
Nata de coco is perceived as healthy food owing to the associated nutritional value. The growing demand for natural and healthy food products is growing rapidly influencing higher demand and consumption of nata de coco. Evolving consumer's buying habits, growing consumers concerns regarding health & the environment along with their willingness to pay premium price for healthy food products is augmenting the demand of Nata de coco. Owing to the health benefits associated with Nata de coco consumption in form of more fiber and less calories has created influx of demand in the market. Nata de coco contains lot of fiber which helps in digestion and it gives less calories compared to other desserts in the same amount. It is also used as an ingredient in coconut cakes, soft drinks, fruit salad, ice creams and yogurts. Increasing application of nata de coco in cosmetic products has boosted the demand and it will change the market dynamics in upcoming years. Informed consumers with clear perceptions and their willingness to engage in buying healthy goods are some of the elements that come together and makes the market attractive. The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion's share and create brand recognition in nata de coco market.
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With the rising disposable income, consumer's willingness towards purchase of quality products have increased. Premiumization is one of the potential opportunities in the market which can lead to profitability attained by the manufacturers. Multi-spectrum application sector of Nata de coco, distinctive texture & flavor, and weight loss benefits spur the market demand. Manufacturers are investing in flavor innovation and offering products with unique essence and flavor extracts, such as banana, almond, strawberry, vanilla, orange and other
Nata de coco market offers huge growth opportunities for the market players. Companies indulge in competition and focusing on sourcing quality ingredients, sustainable packaging and efficiency in production & distribution. Market players are extensively investing on R&D and marketing activities to leverage on current market trends. From the last couple of years there had been sudden boom in the export market of nata de coco. The coconut producing countries began exporting coco sap sugar to the developed economies such as U.S.
Industry players in the Nata de coco segment aim at efficient production by using advanced technology, focusing on production innovation by offering unique flavors to meet the consumer demand along with integrating the supply chain to cut down the production cost. The growth potential in the market has attracted new market players to enter in the Nata de coco segment. The increased internet penetration and social media buzz has allowed the industrial players to use these forums and create an awareness and expand the customer base.
With manufacturers aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points from both supply and demand side. The key market players profiled in Nata de coco are Nata De Coco Manufacturing Sdn Bhd (Malaysia), Happy Alliance (M) Sdn Bhd (Malaysia), Schmecken Agro Food Products (India), Hainan Yeguo Foods Co., Ltd. (China), Siva foods (India), Shireli Manufacturing (Philippines) and HTK Foods (Viet Nam), and others
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The Global Nata De Coco Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Nata de coco market is highly dominated by Asia-Pacific followed by Europe and Middle East & Africa. Philippines being the origin of Nata de coco and its increasing use as ingredients while preparing desserts in Asia drives the growth of the market in Asia-Pacific region. Philippines, Indonesia, and India are the leading countries producing coconut and its products coupled with growing demand of iced teas and fruit jellies in South-East Asia further fuels the demand of Nata de coco. Nata de coco is also widely used as nata mixtures in various range of soft drinks majorly in tropical regions. Increasing popularity of desserts and pudding made from nata de coco is playing the crucial role in increasing demand of nata de coco in Europe and Middle Eastern countries.