A Market Potential of Vacuum Freeze-Dried Skim Coconut Milk (VFD-SCM) in Los Baños, Laguna

Date

5-2024

Degree

Bachelor of Science in Agribusiness Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Maria Noriza Q. Herrera

Committee Member

Chris Edwin B. Bonalos, Reginald B. Vargas, Melodee Marciana E. De Castro

Abstract

The processing of coconut milk, a high-value product with significant market demand, generates substantial byproducts, primarily skim coconut milk (SCM) and insoluble protein. These byproducts are often discarded, leading to environmental concerns and missed economic opportunities for local food processors. Bautista et al. (2023) report that approximately 65% of the initial coconut milk volume results in SCM after separating coconut cream for virgin coconut oil (VCO) production. This study aimed to explore the market potential of skim coconut milk (SCM) processed through vacuum freeze-drying (VFD) technology. The Philippines is experiencing a growing consumer preference for convenient, healthy, and high-quality food options. However, the market for freeze-dried products is dominated by expensive imports. Project FREEZE, initiated by the Institute of Food Science and Technology (IFST-UPLB) in cooperation with Laguna State Polytechnic University (LSPU) and the Association of Laguna Food Processors (ALAFOP), seeks to enhance local industry competitiveness by introducing new products utilizing VFD technology.

This study investigated the receptiveness of bakery and pastry shops in Los Baños, Laguna, towards vacuum freeze-dried skim coconut milk (VFD-SCM), assessing its market potential and ability to address the utilization of coconut milk byproducts. The research identified the desirable attributes of skim coconut milk and evaluated purchasing and consumption patterns for bakery and pastry shops. The study employed a qualitative descriptive research design and utilized purposive and convenience sampling. The data collection involved a Market and Consumer Survey using a Usage, Attitude, and Image (UAI) study which assessed the respondents' product knowledge and purchasing behavior. Additionally, product perception tests, attribute importance tests, and customer-perceived price analysis were conducted to evaluate VFD-SCM.

The key findings from the research indicated a promising market for VFD-SCM within the Los Baños baking and pastry industry, characterized by a youthful and health- conscious demographic. Notably, 78% of bakery owners and their customers identify as health-conscious, which aligned well with the introduction of VFD-SCM as a healthy alternative ingredient. Following the current low usage of coconut milk in baking, the study identified a significant knowledge gap among bakery owners regarding the benefits and applications of coconut milk.

To facilitate the adoption of Vacuum Freeze-Dried Skim Coconut Milk (VFD-SCM) in the bakery industry, the study recommends several strategic initiatives. Educational efforts, such as workshops and recipe demonstrations, should be implemented to inform bakery owners about VFD-SCM’s benefits and versatility. Product development should focus on key attributes like taste, color, and nutritional value, and ensure a longer shelf life while incorporating organic ingredients and sustainable practices. Effective marketing strategies are essential, including social media campaigns, collaborations with local food influencers, and in-store demonstrations. Capitalizing on targeting niche markets such as artisan and confectionary bakeries would be an advantageous positioning for the product. Additionally, ensuring consistent availability through distributor partnerships and bulk discounts can further incentivize use. Utilizing a freemium business model in the product introduction phase is a recommended pricing strategy for VFD-SCM. By implementing these comprehensive recommendations, VFD-SCM can penetrate the Los Baños bakery market and potentially expand to other regions, addressing the utilization of coconut milk byproducts and offering economic and environmental benefits.

The study concluded that by implementing these strategies, VFD-SCM can successfully penetrate the bakery market in Los Baños and potentially expand to other regions or internationally. Future research should explore VFD-SCM's potential in different markets, refine target demographics, incorporate baking trials or product tests, and analyze the cost-effectiveness of production. This comprehensive approach positions VFD-SCM as a valuable ingredient in Filipino bakeries' evolving landscape, offering economic and environmental benefits while addressing the challenges associated with coconut milk byproducts.

Language

English

LC Subject

Milk, Coconut, Coconut Product, Marketing

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993 2024 M17 C36

Notes

Viewing access to electronic resources is restricted solely to UP Gmail accounts. Any access and share requests from external organizations and personal email accounts will be promptly declined.

Document Type

Thesis

Link to Full Text

Share

COinS