by Coconut wraps are flatbread made from coconut and other natural ingredients. They are gaining popularity as an alternative to wheat-based wraps due to rising health consciousness. Coconut wraps offer nutritional benefits like high fiber content, omega-3 fatty acids and they are gluten-free. They can be used to make sandwiches, burritos and more. The global coconut wraps market offers various functional advantages and better taste compared to traditional wraps.
The global Coconut Wraps Market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing consumer preference for natural and plant-based ingredients is a key trend propelling the coconut wraps market. People are increasingly health conscious and prefer food products containing no artificial ingredients. Coconut wraps fulfil this demand as they are made from coconut and other natural ingredients without any artificial flavors, colors or preservatives. The organic and clean label trend has further increased the popularity of coconut wraps. Manufacturers are launching innovative coconut wrap variants with additional superfoods to attract more health-conscious consumers.
SWOT Analysis
Strength: Coconut wraps are naturally gluten-free, vegan, and keto-friendly. They offer a healthier alternative to traditional wheat-based wraps.
Weakness: Coconut wraps have a shorter shelf life as compared to plastic wraps. They are more prone to breakage and tears.
Opportunity: Increasing health awareness and growing demand for plant-based and naturally sourced food products provide growth opportunities. The booming food delivery business also favors coconut wraps.
Threats: Stiff competition from established plastic wrap manufacturers and substitutes like rice paper wraps can pose threats. Fluctuations in coconut prices impact the manufacturing costs.
Key Takeaways
The Global Coconut Wraps Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional Analysis: Asia Pacific is poised to be the fastest growing regional market for coconut wraps. Countries like India, Indonesia, Philippines are major coconut producers. Improving living standards and growing preferences for convenience packaging support market expansion.
Key players operating in the coconut wraps market are Huawei Technologies Co., Ltd.,ZTE Corporation,Nokia Corporation,ADTRAN, Inc.,Calix, Inc.,Cisco Systems, Inc.,Ericsson AB,FiberHome Technologies Group,Fujitsu Ltd.,NEC Corporation,Sumitomo Electric Industries, Ltd.,Dasan Zhone Solutions, Inc.,Iskratel d.o.o.,Mitsubishi Electric Corporation,Tellabs, Inc. Major players focus on new product development and capacity expansion to strengthen their foothold. Technology upgrades also allow them to optimize manufacturing processes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
