Coconut Flour is gaining popularity due to the increasing number of health benefits it offers. It’s a healthy alternative to other flour and is also gluten-free. According to the report by Future Market Insights (FMI), coconut flour market is estimated to cross $720 million market share by the end of 2027. With a maximum number of people being allergic to wheat and sensitive to gluten, the demand for coconut flour is increasing as it is gluten-free.
The coconut flour offers various health benefits like it aids in metabolism, offers balanced blood sugar level, helps in healthy digestion, it also helps the people suffering from diabetes and nut allergy.
North America emerging as the biggest coconut flour market
The coconut flour market in North America region is estimated to create the opportunity of $124.8 million during 2017-2027. The region is expected to dominate the coconut flour market in terms of the revenue contribution. Also, the export of coconut flour is significantly increasing in terms of volume and value.
The unfavourable climatic condition in North America is restricting the production of coconut flour as the coconut cannot be produced domestically. Hence, the coconut fruit is exported from Latin America and Asia Pacific countries, where it is easily available. India, Philippines and Indonesia are the major coconut producing countries in Asia Pacific. One of the significant factors driving coconut flour market in North America is the economical production cost of the coconut flour. The equipment and the process involved in the production of coconut is cheap and simple. Moreover, the raw material used for producing coconut flour is obtained from the by-product in the coconut milk industry.
Coconut flour is considered to be the best alternative to wheat flour. A variety of products are made from coconut flour such as cookies, pancakes, muffins, bread, cakes, etc. Moreover, these products taste same as the products made from wheat flour. Hence, customers who cannot consume gluten are also looking forward to this kind of products made using coconut flour.
According to the report, 41% of people in U.S. believe that gluten-free products are more beneficial and healthy. Around 30% are consuming gluten-free products. All these factors together are contributing towards the growing demand for coconut flour, especially in North America.
Organic coconut flour is also gaining popularity with the companies catering towards gluten-free lifestyle and the major contributor to this trend is the millennial generation.
