Top 3 Trends Impacting the Global Coconut Cream Market Through 2021: Technavio

LONDON–(BUSINESS WIRE)–#Food–Technavio’s latest market research report on the global
coconut cream market
provides an analysis of the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.


Manjunath Reddy, a lead analyst from Technavio, specializing in research
on the food
sector, says, “The demand for coconut cream is expected to
increase during the forecast period, as consumers become increasingly
aware of the health benefits associated with the consumption of coconut
products. The use of coconut cream as an ingredient in various desserts
and snacks is expected to further increase the demand for coconut cream
during the forecast period.”

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The top three emerging market trends driving the global coconut
cream
market according to Technavio research analysts are:

  • Increasing popularity of Asian cuisine
  • Growing global vegan population base
  • Organic coconut cream

Increasing popularity of Asian cuisine

The popularity of Asian cuisine is increasing around the globe, and
coconut cream is an important ingredient used in this cuisine. It is the
fastest-growing food segment in the world. An increase in population and
economic development are the two factors responsible for the growth in
the demand for Asian food. The migration of the Asian population to
other parts of the world has also increased the demand for Asian cuisine
worldwide. It is estimated that there are more than 41,000 Chinese
restaurants and more than 5,000 Indian restaurants in the US. Asian
cuisine is also becoming popular in Europe.

Growing global vegan population base

Veganism, which strongly favors animal rights and displays ethical
concerns for the environment, is an emerging lifestyle trend. Vegan
consumers do not use any food, clothing, or other products of animal
origin.

The demand for vegan food, such as plant-based dairy alternatives and
plant-based meat alternatives, has increased globally. For instance, in
the UK, the demand for Alpro Unsweetened Almond Milk has increased by
more than 2,000% since 2015. The sale of plant-based meat alternatives
has increased by about 1,000% since 2015.

“The expanding vegan population base around the globe is thus a trend
contributing to the growth of the global coconut cream market,”
says
Manjunath.

Organic coconut cream

The increasing demand for organic coconut cream is one of the trends
that will affect the growth of the market during the forecast period.
The demand for organic ingredients is on the rise as consumers are now
becoming more conscious about the food ingredients that they consume.
This factor is driving the sales of organic coconut cream around the
globe.

Therefore, market players are coming up with new products to cater to
this demand. In February 2017, DeeBee’s Organics exhibited a new line of
organic coconut creams at the BIOFACH exhibition held at Nuremberg,
Germany. The new product line is available in three flavors, such as
chocolate banana split, orange cream, and strawberry shake.

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Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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research assignments across the latest leading edge technologies.

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value chain, including vendors, service providers, distributors,
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