April 22, 2024
Middle East Coconut Products Market

The Middle East Coconut Products Market Set To Register High Growth Of 11% Till 2030

The Middle East coconut products market is primarily driven by increasing health awareness among consumers regarding the health benefits of coconut products. Coconut products such as coconut water, coconut oil, cream, milk powder and other derivatives offer numerous health advantages including lowered cholesterol levels, enhanced heart health, weight management, and improved digestion. Rapid urbanization coupled with rising disposable incomes has boosted the demand for high quality convenience foods and beverages infused with natural ingredients in the region.

The Middle East coconut products market is estimated to be valued at US$ 1115.91 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.

Key Takeaways
Key players: Key players operating in the Middle East coconut products market are Thai Coconut Public Company Ltd., Vita Coco (All Market Inc.), Coco Veda Natural Products Inc., The Coconut Company Ltd., Merit Food Products Co., Ltd., Thai Agri Foods Public Company Ltd., Linaco, Marico Ltd., Hero Nature Products Pvt Ltd., and Chef TMs Choice Foods Manufacturer Co. Ltd.

Key opportunities: Increasing focus on vegan and natural products presents significant growth opportunities for coconut product manufacturers in the region. Furthermore, rising demand for coconut water and coconut oils from the personal care and cosmetics industries is expected to drive market revenues.

Global expansion: Leading coconut product companies are expanding their footprint in Middle Eastern countries through strategic partnerships and acquisitions. This is helping them enhance brand visibility and market access in high potential nations of Saudi Arabia, UAE and Qatar.

Market drivers
The major driver fostering the growth of Middle East Coconut Products Market Demand  includes increasing health awareness. Coconut products offer numerous health benefits like improved heart health, weight management and digestion which has boosted their demand considerably among health conscious consumers in the region.

PEST Analysis
Political: The Middle Eastern region experiences political instability in some countries which can adversely impact the Middle East coconut products market. However, growing tourism and expat population in the region fuels demand.

Economic: Rising disposable incomes and growing health awareness among Middle Eastern consumers is driving the demand for natural and healthy coconut products in the region. Lower global production of coconuts also supports higher prices.

Social: Changing lifestyles and busy schedules are prompting consumers to opt for convenient packaged coconut products for snacks and meals. Social media marketing is also promoting coconut products among the young population.

Technological: Automation of processing facilities and use of advanced packaging solutions helps coconut product manufacturers to improve efficiencies and offer innovative product variants. E-commerce growth facilitates the easy availability of diverse coconut products.

The Middle East region where market value is concentrated includes GCC countries like United Arab Emirates, Saudi Arabia and Kuwait owing to higher spending power and demand for premium coconut products from large expat populations.

The fastest growing geographical region for the Middle East coconut products market is expected to be Iran on account of rising health consciousness among consumers and a developing retail infrastructure. Growing tourism industry will also aid market growth in Iran over the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.