Coconut products prove popular
Coconuts have become increasingly popular with consumers in the past year, suggests new sales data from IRI.
Edible coconut products are now seen as healthy, tasty and good for the diet. Coconut water, while still representing a relatively small portion of the total soft drinks market (1%), is now worth almost £60 million in value sales alone, up 64% over the previous year.
Coconut oil is also worth more than £14 million per year in sales to UK supermarkets and has seen a 112% increase over the previous year. While coconut oil sales are increasing, many other oils, such as vegetable and sunflower oil, are declining.
However, the data suggests that it’s not necessarily the coconut flavour that is driving the demand. For example, sales of coconut flavoured yogurts are down slightly at 4.4%, while new brands such as CoYo and KOKO, which are dairy free alternatives and made from coconut milk, are proving very popular.
This suggests that it could be the nutritional benefits of coconut that consumers crave rather than the flavour itself, with the increasing popularity of free from ranges boosting sales.
Coconut milk also seems to be benefiting from shoppers looking for alternatives to traditional dairy varieties, with value sales up by 67% to £16.4 million in the past 12 months.
“Coconuts, and coconut oil in particular, seem to be the popular choice at the moment,” comments Tim Eales, director of Strategic Insight at IRI.
“Certainly our figures indicate that shoppers are becoming more discerning in their choices, and are not only being influenced by the popularity of Thai inspired food, but also celebrities praising coconut products for everything from weight loss and hair conditioning to better brain function and whiter teeth.”
