The global virgin coconut oil market to grow at a CAGR of 9.75% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global virgin coconut oil market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of virgin coconut oil to individual consumers. The report also includes a a discussion of the key vendors operating in this market.
The players in the market are coming up with new value-added products from virgin coconut oil. Such products will increase the consumer interest in the market and will also help the farmers to gather more return on their products. Only 8% of value addition in coconut oil is happening in India, while it is about 60%-70% in the Philippines. The value-added products will help the market grow during the forecast period.
According to the report, the players are launching new products to stay competitive in the market and also to keep the interest of the consumers alive in the market. In October 2016, Dash Organics launched 100% raw extra virgin coconut oil. The new product is Fairtrade and certified 100% organic by Soil Association. In January 2016, Tiana Fair Trade Organics introduced its raw virgin coconut oil under the brand name CocoPacific.
The product launch is backed by $0.61 million marketing campaign and the company has also roped in Aldo Zilli, celebrity chef and restaurateur, as the brand ambassador. In July 2015, FAL Food and Beverages launched its virgin coconut oil under the brand name Coco Joy. In December 2014, GraceKennedy Limited launched its virgin coconut oil after spending about $5 million on researches for the new product.
Further, the report states that the product recalls of virgin coconut oil due to various reasons is one of the challenges to the growth of the market. The product recalls will create a negative impression among the consumers. The product recalls will also cause the consumers to lose trust in the products in the market. In March 2016, Nisshin OilliO Group issued a voluntary recall of its coconut oil products including Nisshin Extra Virgin Coconut Oil due to the presence of Aspergillus, a type of fungus, in the products. The company recalled about 1.6 million products.
- Hain Celestial Group
- Tropical Traditions
Other Prominent Vendors:
- C20 Pure Coconut Water
- C Coconut Water
- Edward & Sons
- iTi Tropicals
- Jax Coco
- Zumi Natural (Coco Zumi)
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by distribution channel
Part 08: Geographical segmentation
Part 09: Key leading countries
Part 10: Market drivers
Part 11: Impact of drivers
Part 12: Market challenges
Part 13: Impact of drivers and challenges
Part 14: Market trends
Part 15: Vendor landscape
Part 16: Appendix
Part 17: Extras
For more information about this report visit http://www.researchandmarkets.com/research/gdp56q/global_virgin
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets