Sales of coconut oil and coconut water both grew substantially in the last year, according to new sales data from IRI.
Despite only representing 1% of the total soft drinks market, coconut water is now worth almost £60m in value sales alone – up 64% in the 12 months to March. The figures also showed that coconut oil had seen a 112% increase in the past year, reaching more than £14 million in value sales. In contrast, other oils – such as vegetable oil and sunflower oil – experienced decline over the same period, the market insights company said.
It also claimed that the fact that yogurts flavoured with coconut declined in the past year – down 4.4% – while dairy-free alternatives such as CoYo and Koko, which are both made from coconut milk, grew, was evidence that consumers were actually drawn to the nutritional benefits of coconut and not necessarily the flavour.
Sales of coconut milk were up 67%, while the increasing popularity of lactose-free ranges further boosted sales, IRI said.
Tim Eales, director of strategic insight for IRI, said: “Coconuts, and coconut oil in particular, seem to be the popular choice at the moment. 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.
“Another key influencer of the trend could be Instagram diet guru Joe Wicks, aka ‘The Body Coach’.
“The internet sensation is known for his love of coconut oil, as shown in his amusing ‘Lean in 15’ videos and number one recipe book. With over 1 million Instagram followers and already linked with a 25% rise of tenderstem broccoli, it seems his influence has no bounds.”
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