Attractive Opportunities in the Coconut Oil Market: Rise in Demand for Coconut Oil in the Food & Beverage and Cosmeceutical Industries to Drive Market Growth

DUBLIN, Feb. 23, 2022 /PRNewswire/ -- The "Global Coconut Oil Market by Product Type, Source, Application, Nature and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The coconut oil market is estimated to be valued at USD 5.7 billion in 2022 and is projected to reach USD 7.4 billion by 2027, recording a CAGR of 5.5%, in terms of value.

An increase in awareness regarding the various benefits of coconut oil compared to its synthetic counterparts has resulted in an upsurge in the demand for coconut oil over the past few years. This is attributed to the increase in awareness of consumers regarding the risks associated with products containing harsh chemicals, and preservatives. Major market players have been investing significantly in R&D to boost production to cater to changing consumer preferences.

Based on product type, the virgin segment is projected to grow at the highest CAGR in the market during the forecast period. Virgin coconut oil has more aroma and taste of the coconut compared to RBD oil. It has many advantages, which include the health benefits from the retained vitamins and antioxidants, the antimicrobial and antiviral activity from the lauric acid components, and its easy digestibility due to the presence of medium-chain fatty acids (MCFA).

Coconut oil has a wide range of applications in cosmetics & personal care products. RBD coconut oil is particularly used in manufacturing soaps as it helps in better lathering. It is a great ingredient to add hardness to soap bars. Coconut oil is used as a replacement for mineral oil in moisturizers and it also has antiseptic effects. Virgin coconut oil has been widely used for the preparation of hair oil. It hydrates and softens the hair. The presence of fatty acids, vitamins, and minerals in the VCO nourish and restore the hair naturally.

By nature, the organic segment is anticipated to grow at higher CAGR during the review period

Due to the increasing demand for organic products worldwide, the demand for organic coconut oil is also increasing. This drives the growth of the organic coconut oil segment. Key players operating in the coconut oil market are also supporting farmers to grow coconuts organically by providing proper knowledge and helping them get certified for their produce.

The European region is projected to grow at the highest CAGR during the forecast period

There is increasing awareness among consumers in the UK regarding the health and environmental benefits of clean label products. The increasing concern regarding the use of ingredients in food & beverage products, coupled with rising health awareness, has led the consumers to demand more natural and organic food products. The European market for virgin coconut oil has grown significantly over the last few years. This is mainly because of growing consumer attention to healthier diets. Initially, virgin coconut oil was only available at health shops. Virgin coconut oil has become popular in mainstream supermarkets, and its industrial applications are growing. The drive toward cleaner labels - meaning fewer and more recognizable ingredients - has been the food industry megatrend of the past decade.

Leading players profiled in this report include:

• Cargill Incorporated 
• ADM 
• Bunge Ltd
• Mangga DUA 
• Greenville Agro Corporation 
• Royce Food Corporation 
• Novel Nutrients Pvt. Ltd. 
• Aromaax International 
• Adams Group 
• Connoils LLC 
• Tantuco Enterprises, Inc. 
• Celebes Coconut Corporation 
• CIIF OMG 
• Aluan 
• Sun Bionaturals Private Ltd 
• BO International
• Shree Western G & C Ind.
• Rmayra Naturals 
• Jiangxi Planty Manor Health Industry Co., Ltd.
• Hancole

Premium Insights

• Attractive Opportunities in the Coconut Oil Market - Rise in Demand for Coconut Oil in the Food & Beverage and Cosmeceutical Industries to Drive the Market
• Europe Coconut Oil Market, by Product Type and Country - RBD Segment and the Netherlands to Account for the Largest Market Shares in the European Market in 2022
• Coconut Oil Market, by Product Type and Region - RBD Segment and Asia-Pacific to Dominate the Market During the Forecast Period
• Coconut Oil Market, by Application - Food & Beverages Segment to Dominate the Market During the Forecast Period
• Coconut Oil Market, by Nature - Conventional Segment to Dominate the Market During the Forecast Period
• Coconut Oil Market, by Source - Dry Coconut Segment to Dominate the Market During the Forecast Period

Market Dynamics

Drivers

• Increasing Applications in Cosmeceutical and Personal Care Products
• Increasing Demand for Odorless and Tasteless Coconut RBD Oil in the Food & Beverage Industry
• Rising Demand for Clean Label Products

Restraints

• Rising Concerns Regarding the High Content of Saturated Fats in Coconut Oil

Opportunities

• Potential Application as Biofuel

Challenges

• Irregularity in the Supply of Raw Materials

For more information about this report visit https://www.researchandmarkets.com/r/9ii88t

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