Lagos eyes $102m global coconut yogurt market

The Lagos  government has expressed its commitment to encouraging farmers to tap into the burgeoning  global Coconut Yogurt Market, which is currently valued at $102.01 million and is projected to reach $302.32 million by 2031.

According to Verified market research,  an international business intelligence firm, the coconut yogurt sector is shaped by various market drivers that reflect evolving consumer preferences, health trends, and industry dynamics. As a rapidly developing segment of the dairy alternatives market, coconut yogurt is primarily propelled by the rising consumer interest in plant-based, lactose-free products that appeal to health-conscious individuals and those with specific dietary needs.

Speaking with The Nation, the Commissioner for Agriculture and Food Systems, Ms Abisola Olusanya noted that the government will do everything possible to ensure farmers to grow more coconut to take advantage of the growing popularity of Coconut Yogurt due to its thick texture and higher protein content, making it an attractive option for those who prioritize muscle recovery and satiety.

According to https://www.verifiedmarketresearch.com, the coconut yogurt market is a rapidly growing segment within the broader plant-based dairy alternatives industry, characterized by its focus on yogurt products made primarily from coconut milk.

She explained that Lagos coconut farmers can explore the coconut yogurt market  currently experiencing robust growth, driven by rising consumer interest in plant-based diets and health-conscious eating.The Lagos State Coconut Development Authority, according to her, has embarked on a mission to plant coconut trees in all established housing estates across the state.The plan, she indicated, is part of efforts to improve and promote the coconut economy in the state.

According to her, the state government has  been  able to complete the coconut value chain carried out by the Food and Agriculture organisation (FAO) of the United Nations.’

In an effort to boost agricultural productivity and improve the livelihoods of local coconut farmworkers, he said the government is equipping farmers  with the knowledge and skills necessary to enhance their farming methods, by  providing training on Good Agricultural Practices (GAP), which will enable them to adopt more sustainable and effective techniques in coconut planting and cultivation.

According to her, the government envisions the future of the coconut industry not just in terms of the current coconut planting efforts, but also to regain its position as the major  producer of high-quality coconuts.

She added that  the government is making efforts to ensure a sufficient supply of high-quality coconut planting materials for coconut farmers.

Last year, the Lagos State Government released the sum of N250 million for the implementation of its five-year Coconut Value Chain Upgrade Strategy.

The five-year strategy will improve the economic, social and environmental sustainability performance of the coconut value chain in the state.

The  strategy was proposed using the Agri-Food Systems Transformation Accelerator (ASTA) of the United Nations with the sum of four million dollars for the five-year plan.

Lagos eyes $102m global coconut yogurt market - The Nation Newspaper