The global Coconut Wraps Market is estimated to be valued at US$ 1.65 billion in 2022 and is expected to exhibit a CAGR of 10.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Coconut wraps are thin and soft flatbread alternatives made from coconut flour, coconut meat, and coconut water. They provide digestive and heart health benefits due to their high fiber and fatty acid content. Coconut wraps are keto-friendly and gluten-free substitutes for traditional wheat-based wraps. Market key trends: One of the key trends contributing to the growth of the coconut wraps market is the rising popularity of plant-based and vegan foods. Coconut wraps are a versatile vegetarian/vegan alternative to traditional wraps made from wheat, grains, or gluten-containing flours. They allow vegans and flexitarians to enjoy burritos, tacos, pinwheels, and snacks without compromising on taste or nutrition. Coconut wraps are also gaining traction among health-conscious consumers seeking low-carb or paleo diet-friendly snack options. Segment Analysis The coconut wraps market is segmented by type into conventional coconut wraps and organic coconut wraps. The organic coconut wraps segment dominates the market and is expected to witness high growth over the forecast period. Consumers are increasingly preferring organic products due to rising health concerns regarding ingredients and processing methods in conventional food products. The clean label trend is driving demand for organic coconut wraps made using clean ingredients without artificial preservatives, colors, or flavors. Key Takeaways The global Coconut Wraps Market Share is expected to witness high growth, exhibiting a CAGR of 10.1% over the forecast period, due to increasing demand for plant-based and gluten-free food products. The Asia Pacific region dominates the coconut wraps market and is expected to grow the fastest over the forecast period. Countries like India, Indonesia, Philippines, and Thailand have the highest production and consumption of coconut in the world. Growing health consciousness and rising incomes in the region are fueling demand for coconut wraps. Key players operating in the coconut wraps market are LettUs Foods, Cocobella, Crepini, Coconut Bowls, Nature's Path Foods, Coconut Cartel, Chefman, Aum Kitchen, Dang Foods, COCO&CO, Hello Coco, Earnest Eats, Three Babes Bakeshop, Pure Wraps, Taste Nirvana, Coconut Merchant, COCO Joy, Nutiva, Nua Naturals, Edward & Sons. Major players are focusing on new product launches, regional expansions, and mergers and acquisitions to gain a competitive advantage in the market. Read More, https://www.insightprobing.com/coconut-wraps-market-trends-size-and-share-analysis
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