In the food and beverage industry, the consumption of coconut flour has increased in recent times. The key trend in the industry is the growing demand for gluten-free products that have witnessed a significant presence in the market. Because of the constantly progressing shopping patterns coupled with the rising purchasing power of the consumers, there is a magnificent increase in the adoption of gluten-free food and beverage products. Rising consciousness related to diet is positively impacting the growth of the Coconut Flour Market . The product is considered the most nutritious, high in fiber, and a good source of protein. These flours are the best alternative for a wheat substitute that is attracting the newer entrants to enter the marketplace.As a consequence, small US-based startup companies are launching a variety of organic, gluten-free coconut flour products that has less carbohydrate, and it adds natural sweetness to it. Due to these factors, the global coconut flour market collectively generated revenue of $426 million in 2018. The opportunities will be incrementing at a CAGR of 6.5% during the forecast period 2019-2025.
North America Leading the Global Coconut Flour Market
As of 2018, North America generated maximum revenue with a regional share of 33.4%. The significant increase in the region is due to rising export of coconut flour in North America. Moreover, Latin America, the United States, and Canada are experiencing higher demand as the consumers are shifting their major focus to high bakery fiber products coupled with high-consumption of gluten-free and grain-free products which are healthier. During the festive season such as Christmas and New Year Eve, the coconut flour market gains tremendous traction among the consumers. Increase in the demand for bakery products during the festive season and an increase in health-related issues have positively impacted the growth of the coconut flour product. Additionally, the inclination of the millennials towards Ketogenic and Paloma diet owing to its antibacterial and antifungal properties are the major contributor to this trend.
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Organized Retailers: A Major Growth Driver
A major factor that is driving the growth of the coconut flour market is the fastest-growing organized retailers. With the establishment of hypermarkets, supermarkets, and specialty stores, the organized retailers have grown worldwide.
The Major Front-Runners in the Global Coconut Flour Market
Some key players dominating the coconut flour market are Celebes Coconut Corporation, Groovy Food Company, TIANA Fair Trade Organic, Nutiva, Van Amerongen & Son, and Primex Group of Companies.
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