Virgin Coconut Oil Industry Including Top Key Players Barlean's, Hain Celestial, Nutiva, Healthy Traditions, NMK Holdings During Forecast Period 2023

Virgin Coconut Oil Market           

Coconut oil is an edible oil extracted from the kernel or meat of the matured coconuts from the coconut palm. Indonesia and Philippines are the two key coconut producers all across the globe and India captured the third place.

The coconut oil which is extracted from coconut has significant usage in personal care, food and various industrial sectors. Apart from this, it is also utilized in healthcare industry especially by diabetic patients as it helps in appropriate utilization of blood glucose.

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Key Players

Some of the key players in the Virgin Coconut Oil Market: Barlean's (U.S.), Hain Celestial (U.S.), Nutiva, Inc. (U.S.), Healthy Traditions (U.S.), NMK Holdings (Pvt) Ltd. (Sri Lanka), Greenville Agro Corporation (Philippines), SUN BIONATURALS (INDIA) PRIVATE LTD. (India)

Key Findings

Increasing usage of coconut oil is in turn increasing the demand for virgin coconut oil.
Asia Pacific is the dominating region for the market of virgin coconut oil followed by North America.
Segments

The global Virgin Coconut Oil Market is segmented on the basis of type, such as organic, and inorganic. Organic segment from this market is increasing the demand of the virgin coconut oils as organic food products are healthier than normal food products.

On the basis of application, the market is segmented into cooking, cosmetics, healthcare, and others. Increasing demand for food products is helping to drive the growth of this market.
On the basis of distribution channel, the market is segmented into store based such as supermarkets & hypermarkets, specialty stores, food processing industries, and others, and non-store based. Hypermarkets and supermarkets in the store based segment account for major share of this market due to more varieties and increasing number of these store based markets. 
Market Scenario

Market Research Future published a half cooked research report on the global virgin coconut oil market that contains market research information from 2017 to 2023. The global virgin coconut oil market is projected to grow at the CAGR of over 9.8 % from 2017 to 2023.

The global Virgin Coconut Oil Market is expected to be driven by the rising prevalence of diseases among the consumers both in the developed and developing economies which is enforcing consumers to shift towards healthy and nutritional food consumption. 

Virgin coconut oil Market is expected to experience high demand from consumers with higher health consciousness and as well as aging population. Also, increasing consumer expenditure on functional food and beverages as well as health benefits in terms of proper nourishment of skin and hair is estimated to strengthen the demand for virgin coconut oil over the forecast period. Increasing consumption of omega fatty acid will generate more demand for virgin coconut oil, thus increasing the growth of this market. 

Regional Analysis

The global Virgin Coconut Oil Market is regionally segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific accounted for the largest revenue share in Virgin Coconut Oil Market globally and is estimated to retain its dominance in this market during the forecast period i.e. 2016-2023. The region is the largest producer and exporter of virgin coconut oil to other geographical regions. There is about 60%-70% of value addition in coconut oil happening in Philippines which will help the market grow over the forecast period. Asia Pacific is followed by North America due to the new product development by the key manufacturers of virgin coconut oil which is projected to be one of the significant reasons for the rising growth of virgin coconut oil products. However, Asia Pacific region is estimated to witness a maximum growth in the global Virgin Coconut Oil Market over the forecast period 2017-2023.

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This release was published on openPR.