Europe Coconut Candy Market

The coconut candy market in Europe is expected to grow from US$ 389.96 million in 2022 to US$ 567.95 million by 2028. It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.

Rising Consumption of Coconut-Based Products

Coconut-based products are gaining considerable popularity among consumers owing to the health benefits and unique nutty flavor of coconut. Coconut consumption helps improve bone, skin, and heart health; boost immunity; and aid weight loss. It is a rich source of dietary fibers, vitamins, minerals, and medium-chain triglycerides. Its antimicrobial properties are being studied for various health and nutritional benefits. Many consumers prefer coconut-based products as they have a slightly mild and exotic flavor with sweet notes. Manufacturers are using coconut in a variety of food and beverages including candies, chocolates, bakery products, and beverages. Firmenich, a leading flavor and fragrances company, announced coconut as its “2016 Flavor of the Year.” Moreover, the demand for plant-based and 100% natural ingredients has surged with an increase in health concerns among people. Coconut candies are becoming highly popular among consumers as these candies satisfy sweet cravings and boost mood. Hectic lifestyles and busy work schedules refrain people from spending time on food indulgence. As a result, they indulge in comfort food and beverages that provide them a sense of relief. Further, the trend of gifting premium chocolate boxes that include coconut confections is rising. Thus, the rising consumption of coconut-based products coupled with increasing popularity of coconut flavored confections among consumers is driving the growth of the Europe coconut candy market.

Market Overview

Germany, France, Italy, the UK, Russia, and the Rest of Europe are the key contributors to the coconut candy market in the Europe. The market is competitive in these countries as the region homes some of the biggest global market players, such as The Hershey Company, Marc Incorporated, and Ferrero International. The increasing demand for confectionery products in Europe is driven by the indulgence and convenience offered by the products. As clean-label, sugar-free vegan products are witnessing traction in the European market, the market for coconut candy is growing significantly and gaining huge popularity among consumers in the region owing to the health benefits of coconut and its unique flavor. Additionally, the demand for coconut-based products is propelling in Europe due to increasing consumers’ interest in Asian cuisine. Thus, the import of desiccated coconut is increasing in Europe. According to the Centre for the Promotion of Imports from developing countries (CBI), Europe is the world’s largest importer of desiccated coconut, accounting for more than 30% of global imports. Desiccated coconut is a traditional and popular bakery and confectionery ingredient in many European countries. Online retail sales in many European countries increased significantly during the COVID-19 pandemic in 2020. In the UK, Ocado (an internet-only grocery retailer) reported to have increased its sales by 35% last year, from US$ 2.12 billion in 2019 to US$ 2.97 billion in 2020. Thus, the increasing import of desiccated coconut and the rising adoption of online retail are the factors that contribute to the growth of coconut candy and are further expected to drive market growth during the forecast period. Confectionery products such as candies play an important role during various festivals right from Halloween to Christmas. People give customized chocolate boxes as a gift to their loved ones. These customized gift boxes contain various flavors of confectioneries, including coconut-based candies. Thus, the increasing use of chocolate candies for festivals and occasions has been estimated to contribute to the growth and expansion of the Europe coconut candy market across Europe.

Europe Coconut Candy Market Revenue and Forecast to 2028 (US$ Million)

Europe Coconut Candy Strategic Insights

Strategic insights for the Europe Coconut Candy provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Coconut Candy Report Scope

Europe Coconut Candy Regional Insights

The geographic scope of the Europe Coconut Candy refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Coconut Candy Market Segmentation 

The Europe coconut candy market is segmented into product type, category, distribution channel, and country.

Based on product type, the market is bifurcated into chocolate coconut candy and non-chocolate coconut candy. The chocolate coconut candy segment registered the larger market share in 2022.

Based on category, the market is bifurcated into sugar-free and conventional. The conventional segment held a larger market share in 2022.

Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest market share in 2022.

Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the market share in 2022.

Alfred Ritter GmbH & Co. KG; Chocoladefabriken Lindt and Spruengli AG; Ferrero International S.A.; Godiva; Mars Incorporated; The Hershey Company; Unreal Brands Inc.; and Weetabix Food Co. are the leading companies operating in the coconut candy market in the Europe region.