The global coconut extracts market size is projected to expand at a notable speed owing to the increasing number of studies being conducted to investigate the efficacy of coconut oil against the COVID-19 infection. These insights have been shared by Fortune Business Insights™ in its report, titled “Coconut Extracts Market, 2022-2029”. Coconut extracts offer a host of health advantages and their potential in fighting the coronavirus is being thoroughly studied. In the Philippines, for instance, clinical trials are being held at the Philippine General Hospital to investigate the effectiveness of the antiviral properties of virgin coconut oil in treating moderate to severe COVID-19 symptoms in patients. In island countries, such as the Philippines, where coconuts are available in abundance, these extracts can prove to be instrumental in providing speedy treatment to COVID patients. Another study, published in India’s prestigious Journal of Association of Physicians (JAPI), coconut oil releases lauric acid, a type of saturated fatty acid, which is easily synthesized by the body. Turning into monolaurin upon synthesis, this acid can destroy various pathogens, including viruses and fungi. According to the study, people from Kerala have been able to fight the coronavirus better than the other states is because they consume large amounts of coconut oil on a regular basis.
List of Key Players Covered in the Coconut Extracts Market Report:
Sauer Brands, Inc.
McCormick & Company, Inc.
Natural Value Inc.
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By form, the market has been categorized into liquid and powder. Based on application, the market has been divided into food & beverages, cosmetics, and personal care. In terms of region, the market has been grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Highlights of the Report:
The report offers industry-leading research into the factors driving the market growth, as well as a detailed analysis of the factors restraining the market. Apart from this, the report contains holistic assessment of the market segments. In addition, broad & deep diagnosis of the regional developments and competitive dynamics of the market have also been provided in the report.
Probable Adverse Health Effects of Coconut Extracts May Diminish Demand
While coconut extracts, particularly coconut oil, have proven to be highly useful in warding off diseases, they are also likely to entail certain adverse effects on the human body. For example, one of the primary concerns surrounding coconut oil is that it contains saturated fat. The fatty acids present in coconut can elevate LDL (cholesterol) levels, causing physicians to dissuade heart patients from consuming coconut derivatives. Even though coconut oil raises HDL (good cholesterol) levels as well, it is negligible in comparison to LDL. Furthermore, if a person is sensitive to coconuts, consuming their extracts can lead to allergic reactions, such as vomiting, eczema, nausea, and in extreme cases, facial swelling and rapid palpitations. Several experts have, in fact, recommended substituting coconut oil with natural oils extracted from plants such as canola, safflower, olives, and soybean. These serious disadvantages may limit the coconut extracts market growth in the foreseeable future.
Major Segments includes:
Food & Beverages
Cosmetics & Personal Care
Wide Presence of Coconut Producers to Propel the Asia Pacific Market
Asia Pacific is expected to dominate the coconut extracts market share in the forthcoming years on account of the large and widespread presence of coconut manufacturers and product distributors across India, the Philippines, Indonesia, and Sri Lanka. Moreover, the abundant availability of coconut trees in the littoral nations of Asia Pacific will further bolster the region’s leading position in the global market. North America, which is the second-largest coconut importer in the world after China, is creating lucrative business opportunities due to the increasing awareness about the health benefits of coconut extracts in the region. In addition, the high popularity of Asian cuisines, which primarily use coconut derivatives, is also expected to foster regional market growth.
Introduction of Inventive Coconut-based Products to Energize the Market
Various food brands around the globe are utilizing the multifaceted nature of coconut extracts to create just innovative offerings for consumers. The competitive landscape of this market is, thus, getting transformed, prompting key players to ramp up investments in R&D and cement their market position.
January 2021: Malai Biomaterials, a Kerala-based startup, announced the creation of a vegan, eco-friendly material that feels like leather, but has been engineered from coconut water. The organization is now collaborating with the Indian Institute of Technology-Hyderabad to improve the sustainability of their material and also make it more affordable.
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