According to the latest industry reports, Sri Lanka became the 12th largest exporter of coconut oil in the world with net exports amounting to $83.6 million. The rise in the number of coconut products is being heavily influenced by the cultural heritage of Southeast Asia and other tropical regions, where coconut has been used in cooking, wellness, and beauty routines for centuries. The coconut milk industry has witnessed significant growth in recent years, driven by the increasing demand for plant-based alternatives to dairy products. As global travel and exposure to different culinary traditions increase, consumers are more curious about the versatile uses of coconuts, and they’re adopting coconut-based products as part of their everyday lifestyles.
However, being a widely used fruit, there is a very steep competition for coconut products in the market. Similar products are available from various brands which makes innovation one of the keys to sustain in the market. Business leaders with sharp innovation skills along with the capability to serve the current demand are required in the market. Added to this, challenges such as supply chain disruptions, fluctuating coconut prices, and competition from other plant-based milk alternatives necessitate strategic approaches to ensure growth and market resilience.
HVP Wijewardena, Director, Nutioils understood this need and was mindful of balancing new product development and at the same time staying focused on his company’s core offerings. His extensive knowledge of the food industry and product development cycles was crucial in helping the company stay focused on creating products that met market demand while staying true to consumer needs.
He was able to bring innovative products to market while ensuring they aligned with consumer preferences for health, sustainability, and quality. From launching high-quality coconut milk to tapping into the health and wellness trend with MCT oil, Wijewardena’s background has guided every decision, ensuring that his company aligns with emerging consumer trends, maintains the highest product quality, and remains committed to sustainability.
“This strategic diversification has allowed Nutioils to position itself as a leader in the coconut-based product market and an innovative player in the broader health and wellness space. By continuously adapting to market shifts and consumer needs, I’m confident Nutioils will continue to grow and evolve as a trusted, premium brand”, he mentioned.
Path towards Excellence
To position Nutioils as a trusted name in the natural coconut-based product sector, Wijewardena has leveraged several key industry trends and market insights based on his extensive experience in the food industry. By staying attuned to evolving consumer preferences, the health and wellness movement, and the increasing demand for sustainable, ethically sourced products, he has shaped Nutioil’s strategic positioning to meet current demands and anticipate future shifts. Nutioils’ Coconut Creamer is prepared from a substantially sound white kernel obtained from the whole nut of coconut (Cocus nucifera L.) having reached appropriate maturity for processing, that is harvested from coconut plantations in Sri Lanka that are seasoned for 45 days after plucking. The coconut oil has been partially extracted by physical or/and mechanical means which complies with the requirement for fat content of 30 percent-50 percent±2. Physically colour of the content is natural bright white to off-white color while the odor and taste are similar to fresh coconut aroma. The coconut creamer has a sweet and pleasant taste.
Recognizing the growing demand for plant-based options, he strategically positioned Nutioils as a provider of premium coconut-based products such as coconut milk and coconut water, which are natural, dairy-free alternatives. “By aligning Nutioils with the plant-based movement, I was able to cater to this large and expanding demographic. Moreover, emphasizing the natural and clean aspects of our coconut-based products resonated with consumers who seek simple, wholefood alternatives to more processed, artificial options”, he stated.
To position Nutioils as a trusted name in the natural coconut-based product sector, Wijewardena has leveraged several key industry trends and market insights based on his extensive experience in the food industry
Ethical Sourcing
Wijewardena believes that sustainability has become a top priority for today’s consumers, particularly younger generations like millennials and Gen Z, who are making purchasing decisions based on environmental impact, ethical sourcing, and transparency. With growing concerns about environmental impact, he knew Nutioils had to be built around sustainability, not only in terms of sourcing coconuts but also in how it packages its products and operates its supply chain. Coconut trees are a relatively sustainable crop compared to other agricultural products and by prioritizing sustainable farming practices and eco-friendly packaging, Nutioils resonates with consumers who seek environmentally responsible brands. “From the start, I’ve been committed to ensuring Nutioils’ products meet the highest standards, be it the creamy texture of our coconut milk creamer or the purity of our MCT oil”, he said.
Looking Ahead
In the next five years, Wijewardena sees Nutioils continuing to expand its presence in the natural coconut-based product sector. With the right strategic focus, he believes that the company can capitalize on emerging market opportunities and evolving consumer trends. His strategic goals for Nutioils center on several key pillars including innovation, global expansion, sustainability, and building deeper consumer relationships. “I aim to expand Nutioils’ global market presence, increasing our footprint in existing markets while exploring high-growth international markets where demand for natural, health-focused products is on the rise”, he concluded.
HVP Wijewardena, Director, Nutioils
HVP Wijewardena’s experience in understanding consumer behavior and market segmentation played a crucial role in defining Nutioil's marketing and product strategies. By tailoring his approach to different regional markets, he was able to ensure Nutioils effectively reached its target consumers, building strong relationships with both retail partners and direct consumers to foster brand loyalty.
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