The North America & Europe coconut derivatives market has posted continuous growth over the years and is expected to attain USD 17,717.9 Million by the end of 2028. The North America & Europe coconut derivative market was valued at USD 5221.6 Million in 2017 and is expected to progress at a compound annual growth rate of 11.85% over the forecast period of 2018 - 2028.

The growth of the North America & Europe coconut derivative market is being fuelled by the soaring consumer demand for healthy alternatives to carbonated beverages. Influenced by the health attributes associated with consumption of coconut water, consumers are keen on adopting healthy options amid hectic lifestyles to maintain their health. Consumers highly prefer coconut water being a natural sodium, potassium, and electrolyte source. In addition, it is also free from artificial flavors, preservatives, sweeteners, additives, and gluten other than helping in weight reduction, improving digestion and skin texture. Rising demand for coconut derivatives purveyed by increasing awareness continues to support the market growth in North America & Europe.

Various growth strategies adopted by key players in the region is a significant driver of the market. Companies are incurring heavy expenditures on promotional and marketing activities of coconut derivatives to capture a broad base of consumers. Efficient marketing strategies through tools such as social media, stalls, and in-store promotions help to increase the visibility of products and also ensure differentiation between brands. Such rigorous promotion helps to bring the benefits of coconut derivatives into the light and bolsters the growth of the market.

Declining availability of coconuts acts a major restraint to the growth of the market. The production of coconut is majorly concentrated in the Asia Pacific region from where it is being exported to North America and Europe. In the Asia-Pacific region Philippines, Indonesia, and India are the major suppliers of the coconut. With the decrease in production of coconut and surge in consumption of coconut and its derivatives, the current supply is unable to meet the soaring demands which is impeding the growth of the market.

Advertising and celebrity endorsement in promoting coconut and its derivatives is expected to be a plus for the growth of the North America & Europe coconut derivative market. With the growing importance of social media and celebrity influence on consumer buying pattern, companies are evolving their endorsement game across different channels. Endorsement by celebrities help to reinforce the positive impacts of coconut derivatives to the consumers and promotes brand loyalty. Another opportunity noted in this industry is shifting consumer preference towards a vegan diet. The explosion of vegan celebrities in recent years has played a major role in influencing people as coconut derivatives such as coconut milk, is an excellent vegan product and is devoid of lactose associated problems. Likewise, the endorsement of virgin coconut oil by various celebrities is a positive trend, which will help the market growth during the forecast period.

The North America & Europe coconut derivatives market has been segmented based on type, category, and application. By type, the market has been segmented into coconut oil, coconut water, coconut flour, coconut sugar, coconut milk and others. Each segment is gaining traction, but the coconut oil segment leads the pack. The coconut oil segment is expected to grow with a CAGR of 10.11% and reach USD 6377.7 Million by the end of 2028.

By category, the market has been segmented into conventional and organic. Among them, the conventional segment has been projected to account for the most market share of 96.3% in the year 2018 due to lower price as coconuts are grown under normal conditions without an additional support content.

By application, the market has been segmented into food & beverage, cosmetics, pharmaceuticals and others. The food & beverage segment is anticipated to capture major share of the market in 2018 and is projected to expand with a CAGR of 11.99% over the forecast period.

North America is expected to lead the market with a 52.3% share of the market in 2018. Increasing emphasis on health in the region coupled with rising product innovation in the region will fuel the growth of the market in the region. In addition, the US is concentrated with major players who aggressively campaign to promote the health benefits of coconut derivatives. North America is expected to maintain its dominance over the forecast period. The U.S and Mexico are the major contributors to the growth of coconut derivatives market in North America. However, Canada is projected to be the fastest growing country in this region during the review period.

Europe is the second largest market and is expected to remain a significant growth pocket driven by high consumption of coconut derivatives in the region. The Europe market is expected to capture a CAGR of 11.31% by the end of 2028. Increasing Health issues and health conscious population, demand for innovative and natural products are some of the factors supporting the growth of the coconut derivative market in the developing countries of this region. Germany is the leading country in Europe for coconut derivative market. However, U.K. is also contributing subsequently. Higher inclination towards vegan diet in the region also supports the growth of the market. Sweden, Japan, Poland, U.S., Germany, and U.K has the largest concentration of vegans. Furthermore, high sales of packaged coconut water is propelling the sales of coconut derivatives in the Europe market.

The notable players operating in the North America & Europe coconut derivative market include McCormick & Company, Inc., Goya Foods, Inc., PepsiCo, Inc., Celebes Coconut Corporation, The Hain Celestial Group, The WhiteWave Foods Company, The Coca-Cola Company, Vita Coco, and Marico Ltd. Among these, Vita Coco, The Coca-Cola Company, The Hain Celestial Group, and Goya Foods, Inc. collectively hold the major share of the market.

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