Pudding is a kind of food that can be either a savory dish or a dessert and is widely used as a healthier option available against white rice pudding. The coconut pudding is very soothing, nutritious and a refreshing dessert. Coconut pudding tastes like a cream of coconut and is made with just four ingredients: freshly grated coconut/ coconut milk, sugar, cornstarch and water. It melts once it hits the mouth as it is creamy, silky, and tastes of a pure coconut and thus, is experiencing a growing demand in the global coconut pudding market. Moreover, coconut pudding is full of antioxidants and loaded with fibers, which in turn results in the growing demand for the product among the manufacturers and for commercial use.
Coconut pudding market can be segmented on the basis of end user, distribution channel and region.
On the basis of end user, global coconut pudding market is segmented into household and commercial use. In commercial use, it is widely used by the food service providers and establishments.On the basis of distribution channel, coconut pudding market can be segmented into supermarket/ hypermarket, retail sales, online retail and brand outlets.On the basis of region, coconut pudding market can be segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.
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Drivers, Restraints, and Trends:
One of the significant factors contributing towards the growth of global coconut pudding market is that the coconut pudding is all-natural, easy to make and cost-effective. The growing urban population with its changing lifestyle patterns and availability of ready to eat healthy meals/ dishes is driving the market growth of coconut pudding.
The increasing adoption of natural products by health conscious consumers is anticipated to drive the growth of global coconut pudding market. Coconut being the main ingredient is full of diverse health benefits protecting against heart diseases to preventing tooth decay. It also helps in treating malnutrition due to its easy digestion and absorption amongst humans.
Coconut and related product are perceived as a functional food providing nutrients and other health benefits. The coconut being the main ingredient in the coconut pudding is very rich in proteins and vitamins. Thus in Thailand, where coconut and its products are found in every dish, has one of the lowest cancer rates in the world. Therefore, coconut pudding is anticipated to grow among end-users & manufacturers and encourage further industry growth in the forecast period. Changing dietary habits is contributing to the growth of the coconut pudding market too.
Dairy free coconut pudding is the new trend of the global coconut pudding market which is experiencing a good response from the consumers and is expected to grow in the forecast period.
Asia-Pacific is expected to be one of the major consumer of global coconut pudding market share globally and is expected to dominate the global coconut pudding market in the forecast period. The key market in the Asia-Pacific region are Thailand followed by China due to high demand for natural and ready-to-eat products. Malaysia, a Southeast Asian country is booming the coconut products industry. Recent growth in the industry, manufacturers can invest in the new product development and add up to the product portfolio as per changing consumer demands in the projected period.
North America is experiencing the rapid growth in the production of coconut pudding as demand for high-protein and high-fiber product is growing in the region. Moreover, rising health consciousness among consumers and rapid changes in lifestyles and awareness regarding the consumption of the healthy as well as tasteful products like coconut pudding have steered the growth of the North America market. In terms of revenue, Europe is expected to be one of the leading contributor in the global coconut pudding market.
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Major players in the Coconut Pudding segment are Nantong Litai Jianlong Food Co., Ltd., Xiamen Jinhua Hezuo Foods Co., Ltd., Jiashibo Co., Ltd., GLOBAL FORSUCCESS SDN. BHD., Jellico Food Co., Ltd., RK Foods, Healthy Traditions, Hey Boo.