Increasing adoption of virgin coconut oil in various end use applications such as in food & beverages sector, on account of increasing demand for virgin coconut oil in various food products, is a key factor expected to drive global virgin coconut oil market.
Global virgin coconut oil market stood at $ 2.7 billion in 2018 and is projected to grow at a CAGR of over 9% during the forecast period to reach $ 4.7 billion by 2024, on the back of increasing investments in the industry. This influx of investments is supporting market players to increase their production capabilities and to cater to rising demand for coconut oil across the globe. Coconut is a widespread plantation and is grown in more than 80 countries. The world production of coconut is estimated at around 55 million tons annually. Coconut oil has significant use in toiletry, food and various industrial sectors.
Increasing adoption of virgin coconut oil in various end use applications such as in food & beverages sector, on account of increasing demand for virgin coconut oil in various food products, is a key factor expected to drive global virgin coconut oil market. In addition, growing perception about virgin coconut oil being healthier than other oils among the general population in developed and developing economies is further fueling growth of global virgin coconut oil market. Increasing demand for virgin coconut oil in the food industry is anticipated to give a major boost to global virgin coconut oil market, as more companies are shifting their preferences to the food sector.
In terms of application, global virgin coconut oil market has been categorized into direct and indirect consumption. Among the applications, cosmetics & personal care segment of indirect consumption is expected to register significant growth in the coming years, on account of rising awareness about benefits of using coconut oil for healthier skin.
Asia-Pacific dominated global virgin coconut oil market in 2018 and is anticipated to maintain its dominating position during the forecast period as well, owing to huge production of coconut in the region. The region is also the largest exporter of coconut oil to other geographical regions. With growing global demand for virgin coconut oil, market players are finding it difficult to bridge the gap between high demand from consumers. Various governments in the region are extending technological support to the players to improve their production capabilities.
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Global virgin coconut oil market is highly fragmented, due to the presence of numerous small and large vendors. Moreover, the market is subject to rapidly changing consumer demands and preferences. Some of the leading players in global virgin coconut oil market are Sun Bio Naturals, Nutiva, Inc., NMK Holdings Private Limited, Greenville Agro Corporation, iTi Tropicals Inc., The Hain Celestial Group, Edward & Sons Trading Co, Barlean’s, Jax Coco and Naturoca.
- Product Overview
- Research Methodology
- Executive Summary
- Voice of Customer/Customer Insights
4.1. Brand Recognition
4.2. Factors Considered Before Purchase
4.3. Present Vendor
4.4. Satisfaction With Vendor
4.5. Net Promoter Score
- Global Virgin Coconut Oil Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Organic and Inorganic)
5.2.2. By Application (Direct Consumption & Industrial Consumption (Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals))
5.2.3. By Distribution Channel (Store-based Retail and Internet Retail)
5.2.4. By Region (Asia-Pacific, Europe, North America, South America and Middle East & Africa)
5.2.5. By Company (2018)
5.3. Market Attractiveness Index (By Type, By Application and By Distribution Channel)
- Asia-Pacific Virgin Coconut Oil Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By Distribution Channel
6.2.4. By Country
6.3. Asia-Pacific: Country Analysis
6.3.1. India Virgin Coconut Oil Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By Distribution Channel
6.3.1.3. Pricing Analysis
6.3.2. China Virgin Coconut Oil Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By Distribution Channel
6.3.2.3. Pricing Analysis
6.3.3. Thailand Virgin Coconut Oil Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By Distribution Channel
6.3.3.3. Pricing Analysis
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