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The Global Middle East Coconut Products Market Growth Accelerated By Growing Health Conscious Population

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ashwinicmi
The Global Middle East Coconut Products Market Growth Accelerated By Growing Health Conscious Population

Coconut products offer various health benefits and are considered as superfoods. Coconut products are rich source of fiber, proteins and healthy fats that helps in maintaining heart health, weight management and also boosts immunity. Rising awareness among people regarding health benefits of coconut products is driving the demand for products like coconut water, coconut oil and coconut milk powder in the region.

The global Middle East Coconut Products Market is estimated to be valued at US$ 968.67 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends contributing to the growth of Middle East coconut products market is growing popularity of coconut water. Coconut water is considered as a healthy alternative to soft drinks due to presence of electrolytes like potassium, sodium and magnesium. Rising health consciousness among consumers is augmenting the demand for coconut water in the region. Furthermore, innovations in processing and packaging of coconut water have increased its shelf life along with availability throughout the year which is boosting the demand. Introduction of coconut water in different flavors is also attracting consumers towards this product.


Segment Analysis

The Middle East coconut products market is dominated by the desiccated coconut segment. The desiccated coconut segment holds around 35% share of the overall market due to widespread use of desiccated coconut in confectioneries, bakeries, and food & beverage products as well as in personal care & cosmetic products such as hair oils and scrubs. The dominance of this segment is attributed to high demand for desiccated coconut in Middle Eastern cuisines which use desiccated coconut extensively.

Key Takeaways

The Global Middle East Coconut Products Market Size is expected to witness high growth. The global Middle East Coconut Products Market is estimated to be valued at US$ 968.67 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.

The GCC region currently dominates the market owing to high consumption of coconut products across Saudi Arabia, UAE, and Kuwait. The GCC region accounts for over 60% share of the total Middle East coconut products market. Rising health consciousness and increased spending power are driving the growth of coconut products market in GCC countries.

Key players operating in the Middle East coconut products market are F. Hoffmann-La Roche AG, Boehringer Ingelheim GmbH, CHIESI Farmaceutici S.p.A., Gennova Biopharmaceuticals Ltd, Abbott Laboratories, and Reliance Life Sciences. F. Hoffmann-La Roche AG holds around 25% market share in the region owing to its wide distribution network and brand popularity.


For more Insights, Read –

https://www.marketwebjournal.com/middle-east-coconut-products-market-market-size-and-share-analysi/

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