Coconut production plays an important role in Indian economy. Therefore, starting a coconut based business creates potential income opportunities for entrepreneurs. The country is the highest producer of coconuts in the world. The total cultivated area is over 1.94 million hectares. Basically, the four southern states of India, with Kerala, holds 90% of coconut production occupying about 50% of coconut cultivated area in India. The growing market for all coconut products is waking up even in the USA, Europe, and other countries.
The coconut products have an immense potential in the export market. India is still utilizing the traditional activities of oil milling and coir products. There are outstanding scopes for developing innovative and diversified products from coconuts. Coconut related manufacturing operation is a techno-commercially profitable venture. Here is this article we have compiled 12 lucrative coconut based business ideas for new entrepreneurs.
List of 12 Lucrative Coconut Based Business Ideas
#1. Coconut candy
You can prepare coconut candy from grated coconut meat mixed with coconut milk. It is a very delicious food item. Additionally, the manufacturing process is simple. Also, the product has good export potential.
#2. Coconut Chips
Basically, coconut chips are the thinly sliced crispy coconut meat. However, it may come as sweetened or salted and may come in handy as a ready -to- eat snack food. You can prepare this with the coconut meat slice of eleven to twelve-month-old nuts.
#3. Coconut Fiberboard
Coconut fiberboard is a useful and innovative product. It is used in buildings and construction in interior and exterior purposes. Coconut fibreboard is a panel product manufactured from coir. These cost effective products can be used in making roof – false ceiling, doors & door frames, Furniture, Cupboards, Wardrobes, Tables, Chairs, and Beds. The product is very popular because of its attractive natural look and good smooth appearance on both sides. The manufacturing process is simple.
#4. Coconut honey
Generally, you can produce coconut honey from coconut water. Basically, the water contains many growth promoting trace elements besides glucose, fructose, and levulose. First of all, filter the coconut water. Evaporate and blend with a little golden syrup to produce coconut honey.
#5. Coconut Milk Powder
Coconut milk powder is obtained by spray-drying coconut milk or coconut cream and used in a variety of confectionery products and culinary preparations. These include biscuits, ice creams, chutneys and sambhar powder etc. Being easy to use, it finds the preference to coconut itself. The coconut powder obtained by spray drying is water dispersible with a natural taste. Thus, it finds additional use in confectionery products. It is one of the most lucrative coconut based business ideas in India.
#6. Coconut Oil
Basically, coconut oil is popular in the country as cooking oil, hair oil, body oil, and industrial oil. Coconut oil is made from fully dried copra having the maximum moisture content of six percent. Steam cooking of copra is also practiced by some millers to enhance the quality and aroma of the oil.
Coconut oil is marketed in bulk as well as in packs ranging from sachets containing 5 ml. to 15kg tins. The branded coconut oil in small packs is mainly marketed as hair oil and body oil. small and medium scale manufacturing operation is considered as a profitable venture. Read More…
#7. Coconut syrup
Coconut syrup, a translucent, free-flowing liquid was prepared by cooking coconut milk with an equal amount of refined sugar and di-sodium-phosphate equivalent to 0.25% of the volume of the milk, until the mixture attained a TSS content of 68-70 percent. It was used as a topping for bakery products or as a mixer in alcoholic drinks or may be diluted in water and used in cooking rice cakes and other delicacies.
#8. Coconut Vinegar
Generally, you can produce coconut vinegar from fermented coconut water. It is a preservative and flavoring agent in pickles, salads, sauces and many other condiments. Coconut vinegar is similar to other fermented spoonfuls of vinegar such as apple cider and balsamic vinegar. Coconut vinegar is white and cloudy with a very pungent acidic taste and a hint of yeast. The product is appropriate for diabetic patients, as it is very low on the glycemic index. This natural vinegar enjoys export market potential in place of synthetic vinegar.
#9. Desiccated Coconut Powder
Basically, desiccated coconut is a mass consumer item. Therefore, it has a good market. Desiccated coconut may find the good market in areas where coconuts are not produced particularly in Northern India. Nowadays the food habits of our people are changing very fast and a number of food items are being introduced every day where desiccated coconut may also find use. So there is a good scope for new small scale units to come up in this line of manufacture. Read More…
#10. Packaged Coconut Water
Tender coconut water enjoys great potential as a health drink in India and the international market. This is one of the most profitable coconut based business ideas for entrepreneurs. Coconut water is a recent phenomenon on a global scale. Coconut water is a new category but very much on trend with where consumers are going today. The health & wellness trend is continuing to grow in all markets.
It has a strong value proposition being functional but low sugar alternative to 100% juice. Coconut water continues to make significant gains globally, with new product introductions steadily increasing over the last three years. Products are often blended with fruit juices, offering consumers a functional, low sugar alternative to 100% fruit juices. The Coconut Development Board in collaboration with Defence Food Research Laboratory, Mysore has developed the technology for packing tender coconut water in pouches/aluminium cans.
#11. Sweetened condensed coconut milk
Coconut skim milk is an essential item in the preparation of sweetened condensed coconut milk. Powdered dairy skim milk was added for protein fortification and other ingredients were corn oil, coconut cream, and sugar. This is one of the most innovative coconut based business ideas.
#12. Virgin coconut oil
Virgin coconut oil (VCO), extracted from fresh coconut meat without chemical processes is said to be the “mother of all oils”. It is rich in medium chain fatty acids, particularly lauric acid and is a treasure trove of minerals, vitamins, antioxidants and is an excellent nutraceutical. This is one of the most value-added coconut based business ideas.
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Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.