Virgin Coconut Oil Market

Virgin Coconut Oil Market was valued at USD 1274 million in 2019 and is expected to register a CAGR of 9.9% during the forecast period.

Virgin Coconut Oil Market Overview

Virgin coconut oil can be extracted from fresh coconut milk, residue, or meat, which is unrefined, unbleached, and cold-pressed. Virgin coconut oil is extracted from various methods, among which cold and hot extraction are considered as conventional extraction methods. It provides nutritional benefits including a high amount of vitamin, minerals, antioxidants, and are used as a functional food. The shelf life of virgin coconut oil is higher as compared to other edible oils. Organic and inorganic virgin coconut oil is widely used in various applications such as food and beverages, beauty and cosmetic, pharmaceutical, among others in the market.

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Major Virgin Coconut Oil Market Drivers

The surge in demand for virgin coconut oil in a different type of applications such as food and beverages, and beauty & cosmetic is driving the global virgin coconut oil market. In addition to this, the growing preference regarding the virgin coconut oil as compared to other oils among consumers will further boost the market growth. Moreover, the increasing awareness regarding the health benefits among population, will bolster the demand for virgin coconut oil. The rising consumer expenditure on functional food and beverages will support market growth during the forecast period. The increasing popularity of virgin coconut oil, along with the growing demand for virgin coconut oil in the food industry is expected to propel the market growth. Even major players are investing to increase their production capacity to cater to the increasing demand for virgin coconut oil across the globe. However, the easy availability of substitutes of virgin coconut oil and the limited production of virgin coconut oil may hamper the virgin coconut oil market growth.

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Based on the Product, organic segment is expected to grow at a higher CAGR in the global virgin coconut oil market during the forecast period owing to the growing consumer awareness, along with the increasing concern regarding the environment. In addition to this, the growing demand for organic food products than normal food due to the change in consumer perceptions towards organic food products are nutritious and healthier will further drive the organic segment.

Based on the Application, beauty and cosmetic segment is projected to grow at a higher CAGR over the forecast period due to the increasing awareness regarding the benefits of coconut oil for healthier skin among consumers. Moreover, virgin coconut oil is widely used in hair care and skin care products, thereby boosting the demand of beauty and cosmetic segment.

Based on the Distribution Channel, Hypermarkets/Supermarkets segment is anticipated to dominate the global virgin coconut oil market owing to the rise in the number of hypermarkets and supermarkets in developing countries. In addition to this, hypermarkets/supermarkets offer various options with multiple brands, which will further encourage the consumer to opt for hypermarkets/supermarkets for their shopping requirements. The rapid penetration of hypermarkets/supermarkets retain chain, especially in developing countries, is expected to bolster the market growth.

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Regional – Segment Analysis

Based on the region, Asia-Pacific region is projected to lead the market during the forecast period due to the huge production of virgin coconut oil, along with the growing demand for virgin coconut oil for culinary purposes. Asia-Pacific region is the largest producer and exporter of coconut oil as compared to other regions. Moreover, the virgin coconut oil market is highly fragmented with a large number of small and local manufacturers in this region. Majors players are investing in R & D due to the rising awareness regarding the benefits of virgin coconut oil for healthier skin among consumers.

Top Market Players

Various notable players operating in the market include Sun Bio Naturals, Nutiva, Inc., Greenville Agro Corporation, Barlean’s Organic Oils LLC, The Hain Celestial Group, NMK Holdings Private Limited, Edward & Sons Trading Co, and Jax Coco, among others.

Segments covered in the Report:

The global Virgin Coconut Oil market has been segmented on the basis of the product, application, distribution channel, and regions. Based on the Product, the market is segmented into Organic and Inorganic. Based on Application, the market is segmented into Food & Beverages, Beauty & Cosmetics, Pharmaceuticals and Others. Based on Distribution Channel, the market is segmented into Hypermarkets/supermarkets, Convenience store, Online and Others.

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Key questions answered in this research report:

• • At what pace is global Virgin Coconut Oil market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Virgin Coconut Oil market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Virgin Coconut Oil market?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What are the various Application areas of global Virgin Coconut Oil market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Virgin Coconut Oil Market by Product

• • Organic
  • Inorganic

Global Virgin Coconut Oil Market by Application

• • Food & Beverages
  • Beauty & Cosmetics
  • Pharmaceuticals
  • Others

Global Virgin Coconut Oil Market by Distribution Channel

• • Hypermarkets/supermarkets
  • Convenience store
  • Online
  • Others

Global Virgin Coconut Oil Market by Region

• • North America Virgin Coconut Oil Market (Option 1: As a part of the free 25% customization)

    • North America Market by Product
    • North America Market by Application
    • North America Market by Distribution Channel
    • US Market All-Up
    • Canada Market All-Up

  • Europe Virgin Coconut Oil Market (Option 2: As a part of the free 25% customization)

    • Europe Market by Product
    • Europe Market by Application
    • Europe Market by Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Virgin Coconut Oil Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Market by Product
    • Asia-Pacific Market by Application
    • Asia-Pacific Market by Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Virgin Coconut Oil Market (Option 4: As a part of the free 25% customization)

    • RoW Market by Product
    • RoW Market by Application
    • RoW Market by Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Virgin Coconut Oil (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sun Bio Naturals
  • Nutiva, Inc.
  • Greenville Agro Corporation
  • Barlean’s Organic Oils LLC
  • The Hain Celestial Group
  • NMK Holdings Private Limited
  • Edward & Sons Trading Co
  • Jax Coco