Summary

One of the most significant crops in the Philippines is the coconut, commonly referred to as the "tree of life." The primary agricultural commodity for export in the Philippines is coconut goods, making the coconut industry a substantial economic sector. Demand for non-traditional, value-added coconut products has skyrocketed, including virgin coconut oil, coco water, and coco sugar. Examining the coconut market chains in the Philippines, it was found that most farmers just sold raw materials and only participated in the distribution chain to a limited extent. Though processing coconuts into high-value products is a regular procedure, there is significant value addition as coconut products move along the chain. One of the biggest exporters of coconuts to the world, as well as coconut oil, which are used in food, cleaning, cosmetics, and pharmaceutical products, is the Philippines. The coconut sector in the Philippines, however, confronts a number of difficulties. Due to a variety of social, financial, and logistical issues, many smallholder coconut farmers have low production, which makes it challenging for them to satisfy the expanding demand for sustainable coconut oil on the international market. In order to improve the conditions for the production of coconut oil along the supply chains in the Philippine regions of Southern Mindanao and Palawan, Cargill has teamed up with six multinational consumer goods companies and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, an experienced public development cooperation partner. Coconut oil (CNO), desiccated coconut (DCN), copra meal, and oleo chemicals are some of the coconut products that are exported (Ani and Aquino 2016).

According to the research report "Philippines Coconut Products Market Overview, 2029," published by Bonafide Research, the Philippines Coconut Products Market is expected to grow more than 8% CAGR from 2024 to 2029. Beyond staples like copra and coconut oil, the Philippines have been expanding the range of products made from coconuts. Creating value-added goods like coconut flour, coconut milk, coconut water, and coconut-based treats is part of this. Product line expansion helps the business flourish and satisfies consumer demand for healthier options. Products made from coconuts, particularly those like coconut oil and water, are frequently linked to wellness and health movements. The market for goods based on coconuts that are said to have health benefits is growing as more customers look for natural and healthier substitutes. Coconut Productss are a big export from the Philippines. Growing awareness of the nutritional and practical advantages of coconuts has propelled the growth of the global market for products derived from coconuts. The Philippines' coconut product market is expanding and changing as a result of export potential. Sustainable methods in the coconut business are receiving more attention as ethical sourcing and sustainability gain popularity. The evolution of the coconut sector can be greatly influenced by government efforts and laws. The Philippine government may put policies into place to boost R&D in the coconut industry, manage pest and disease issues, and increase productivity. These data and facts demonstrate the attraction of coconut goods created in the Philippines on a global scale. In addition to boosting the nation's economy and enhancing the quality of life for numerous "tree of life" farmers, they also stake a claim on the Philippines' place on the world food map.

A noteworthy obstacle is the low cost of coconut goods. Smallholder farmers who cultivate less than four hectares of land are the primary growers of coconuts. They are some of the Philippines' poorest farmers. The difficulty of making a livelihood off of the production of coconuts is further increased by the extreme price volatility. Additionally, the intricate logistics and transportation network of the coconut supply chain in the Philippines results in high expenses, which are now absorbed by the farmers. Second, many coconut farmers are unable to modify their agricultural practices, which results in stagnate yields, due to a lack of knowledge and financial support. Additionally, monoculture is common, which increases their vulnerability and dependence on coconut. Lastly, natural disasters. Typhoons have the potential to destroy coconut plantations and reduce output in a number of the Philippines' coconut-growing regions. Lastly, one of the biggest obstacles facing coconut growers is market access. As a result, the market is represented by the partnership with GIZ and the private partners, who act as buyers of coconut products.

Based on product type market is divided into Coconut milk & cream, Coconut oil, Coconut water, coconut desiccated/flackes/shredded, other. One of the hottest products among them is coconut oil. The company's production of maize cereals and cooking oils that are pure, healthful, and have already established themselves as mainstays in both residential and commercial kitchens. Marca Leon Coconut Oil is one of the leading brands of this halal-certified company. It is well-known for using premium coconuts and going through the strictest manufacturing procedures possible to ensure food safety. With its antiviral and antibacterial qualities, lauric acid is one of the many medium-chain triglycerides found in the final product. Trans fat, cholesterol, additives, and preservatives are all absent from Marca Leon Coconut Oil.

Based on the form type of the market is divided into liquid, solid. Liquid segment plays a very crucial role. Goods derived from liquid coconut are often perceived as being nutritious. By adding actual fruits to coconut water and lightly carbonating it, CocoJoy elevates coconut water above its previous state. There are no added sugars or artificial preservatives in this cool sparkling coconut water. It is also free of gluten, dairy, and lactose. Black cherry, pomegranate, strawberry, grapefruit, pineapple, and lime are among the flavors. Agrinurture, Inc., a company that empowers local farmers through the adoption of a farm-to-plate business model, is the innovator behind this product. It is certified ISO, HACCP, HALAL, Organic, Kosher, FDA-LTO, and Halal. Coconut Cream without sugar produced by Ahya Coco Organic Food Manufacturing This canned unsweetened coconut cream boasts a rich flavor profile and thick consistency, derived from genuine Philippine coconuts. It is certified Halal and Kosher, making it perfect for vegans. This cream is cholesterol-free and can be used in baking as well as cooking. Coconut water, coconut juice, canned coconut milk in different fat contents, and coconut milk beverages are also produced by Ahya Coco Organic Food Manufacturing.

Based on the type of Application the market can be categorized by Food / beverages, Cosmetics, others. Cosmetic segment is dominating. The Philippines is likewise witnessing the global trend toward natural and organic cosmetic goods. Customers seeking skincare and cosmetic products with fewer artificial additives tend to select substances derived from coconuts, such as coconut oil and coconut water, since they are frequently seen as natural. The moisturizing qualities of coconut oil make it a popular element in cosmetic products made from coconuts. Coconut oil-containing cosmetics can be especially well-liked in tropical climates like the Philippines, where skin hydration is essential. Since of its conditioning qualities, coconut oil is frequently utilized in hair care products. Products for hair care that contain components derived from coconuts are popular choices for shampoos, conditioners, and hair masks. A wide variety of possibilities are available for creating cosmetic goods when using components obtained from coconuts.

Based on type of Distribution Channel the market can be categorized by Hypermarket/supermarket, Conventional store, Specialty store, online retail. Hypermarket is leading. Hypermarkets usually sell a wide variety of things, such as groceries, cosmetics, and household supplies. Customers may easily locate and buy coconut-based products during their regular shopping trips thanks to the inclusion of coconut products within these varied options. Hypermarkets are referred to as one-stop shops where customers may locate a wide range of goods in one location. Coconut-based goods, like water and oil, are frequently offered in value or bulk packaging. Hypermarkets are attractive to customers searching for low-cost solutions as of their emphasis on bulk purchasing and discounted prices. The sales of coconut products may rise as a result of this tactic.

Considered in this report:
• Geography: Philippines
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• Philippines Coconut Products market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Coconut milk & cream
• Coconut oil
• Coconut water
• coconut desiccated /flackes /shredded
• Other

By Form:
• liquid
• solid

By Application:
• Food / beverages
• Cosmetics
• others

By Distribution Channel:
• Hypermarket/supermarket
• Conventional store
• Specialty store
• Online retail

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Coconut Products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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