Press release
Extra Virgin Coconut Oil Market Size Projected To Reach $3.73 Billion By 2034 With A Cagr Of 8.7%
Extra Virgin Coconut Oil Market
What Is the Projected Growth of the Extra Virgin Coconut Oil Market?
The extra virgin coconut oil market has seen strong growth in recent years. It is expected to increase from $2.45 billion in 2024 to $2.67 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.0%. Factors driving this growth include the rising culinary diversity, growing preference for cold-pressed and virgin coconut oils, heightened research and development efforts, increasing demand for sustainable and ethically sourced ingredients, and the growing popularity of ket*ogenic and low-carb diets.
The extra virgin coconut oil market is projected to reach $3.73 billion by 2029 with a CAGR of 8.7%. Growth is driven by the rise of plant-based diets, increased consumer awareness of health benefits, growing demand for cosmetics, and higher disposable incomes. Trends include innovations in product formulations, the use of extra virgin coconut oil in functional foods, technological advancements in processing, packaging, and logistics, and new product development potential.
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What Are the Different Extra Virgin Coconut Oil Market Segments?
The extra virgin coconut oil market covered in this report is segmented -
1) By Type: Organic, Conventional
2) By Packaging: Metal Cans, Plastic Bottles, Pouches
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Retail Stores, Online, Other Distribution channels
4) By Application: Food And Beverages, Beauty And Cosmetics, Pharmaceuticals, Other Applications
5) By End Use: Business-To-Business (B2B), Business-To-Consumer (B2C)
Subsegments:
1) By Organic: Cold-pressed Organic Coconut Oil, Expeller-pressed Organic Coconut Oil, Virgin Coconut Oil with Organic Certification
2) By Conventional: Cold-pressed Conventional Coconut Oil, Expeller-pressed Conventional Coconut Oil, Refined Conventional Coconut Oil
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What Are the Primary Drivers Shaping the Extra Virgin Coconut Oil Market?
The rising adoption of plant-based diets is expected to propel the growth of the extra virgin coconut oil market. Plant-based diets are gaining popularity due to health, environmental, and ethical reasons. Extra virgin coconut oil (EVCO) is a popular choice in plant-based cooking for its nutritional benefits, flavor, and versatility. The Plant-Based Foods Association reported a 6.6% increase in plant-based food sales in 2022, further driving the demand for EVCO. Therefore, the growing adoption of plant-based diets is driving the growth of the extra virgin coconut oil market.
Which Companies Are Leading in the Extra Virgin Coconut Oil Market?
Major companies operating in the extra virgin coconut oil market are Trader Joe's, Spectrum Essentials, Kirkland Signature, Nature's Way Products LLC, Swanson Health Products Inc., Vitacost.com Inc., NOW Foods, E.T. Browne Drug Co. Inc., Fresh Thyme Farmers Market, Garden of Life LLC, Dr. Bronner's, SheaMoisture, Jarrow Formulas Inc., BetterBody Foods & Nutrition LLC, Nutiva Inc., Banyan Botanicals, Desert Essence, Barlean's Organic Oils LLC, Bioriginal Food & Science Corp., Kelapo, Forest Essentials, Nature's Flavors Inc.
What Trends Are Expected to Dominate the Extra Virgin Coconut Oil Market in the Next 5 Years?
Leading businesses in the extra virgin coconut oil market strive to create novel goods, such as organic extra virgin unrefined coconut oil, to keep up with climbing consumer demand for natural and minimally processed nutritional and self-care products. This coconut oil product is made from organically grown coconuts without the use of synthetic chemicals, and is extracted via methods like cold pressing to retain its intrinsic nutrients and flavors while staying unprocessed to conserve its innate aroma, flavor, and health benefits. Natural Grocers, a US-based firm that provides natural groceries and supplements, for example, included Organic Extra Virgin Unrefined Coconut Oil in its line of Natural Grocers Brand Products in October 2022. This coconut oil comes from organically cultivated coconuts, guaranteeing it is devoid of synthetic pesticides and fertilizers. The oil is extracted using cold-press methods, which helps retain its inherent nutrients and flavors, rendering it ideal for cooking and personal care uses.
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What Are the Top Revenue-Generating Geographies in the Extra Virgin Coconut Oil Market?
Asia-Pacific was the largest region in the extra virgin coconut oil market in 2024. The regions covered in the extra virgin coconut oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Extra Virgin Coconut Oil Market?
2. What is the CAGR expected in the Extra Virgin Coconut Oil Market?
3. What Are the Key Innovations Transforming the Extra Virgin Coconut Oil Industry?
4. Which Region Is Leading the Extra Virgin Coconut Oil Market?
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