Virgin Coconut Oil Market Development Status, Competition Analysis, Type and Application 2022-2032

 

Rising usage of virgin coconut oil across various end-use industries such as food & beverage, household, and cosmetics & personal care is driving demand in the global market and the trend is likely to continue during the forecast period.

As per FMI, the global coconut oil market is projected to grow from US$ 3.6 Bn in 2022 to around US$ 6.1 Bn by 2032, with overall coconut oil sales accelerating at 5.4% CAGR throughout the forecast period (2022-2032).

The way consumers are perceiving organic products can be seen in their purchasing patterns, which are changing continuously with time. The effects of organic products on consumer health are the most influential factors for the expansion of the organic products market.

The increasing trend among the consumers for organic products has forced the manufacturers to offer products of organic nature.

Download Report Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-15638

This has also benefited the manufacturers in increasing their sales and better catering to the increasing need for healthy and natural food products. The growing demand for organic products is expected to positively influence the growth of virgin coconut oil market during the assessment period.

The producers of coconut oil have seen a positive outlook post the digital consumers’ awareness phase.

The rising penetration of both e-business and retail stores is expected to boost sales of the coconut.

Similarly, rapid growth of the foodservice industry, growing awareness about the health benefits of coconut related products, and increasing investments in research and development related to the product are expected to bolster market growth during the forecast period.

Key Takeaways from the Coconut Oil Market Study

  • By product type, the virgin or extra virgin coconut oil segment is expected to grow at the highest CAGR of 6.1% during the forecast period.
  • Based on nature, the organic coconut oil segment is expected to grow at a robust CAGR of 6.3% throughout the forecast period.
  • North America and Europe together hold the largest share in the global coconut oil market.
  • Sales of virgin coconut oil in Philippines are projected to grow at a robust pace during the forecast period.
  • India will continue to remain one of the lucrative markets for virgin coconut oil during the forthcoming years.

 “People’s fondness for coconut oil has increased due to its various health benefits, and the market for coconut oil has seen a moderate rise in the last decade on account of its applications in personal care and cosmetics, such as hair care and skincare products’, said a lead analyst at FMI.

High Nutrient Density of Virgin Coconut Oil Expected to Drive Market Growth Over the Next Ten Years

Coconut is known to possess nutrients like potassium, sodium, magnesium, calcium, and phosphorus. These same five essential electrolytes also exist in the human body.

It is a good source of vitamins of the B and C groups. Many studies have proven that coconut has more protein content than cow’s milk.

Coconut is also perceived to contain lauric acid that is present in the mother’s milk. Lauric acid is recognized for its immune-boosting, antioxidant, anti-fungal, antibacterial, and antiviral properties.

Have Word with our Analyst@
https://www.futuremarketinsights.com/ask-question/rep-gb-15638

It has less fat and is low in calories, carbohydrates, and sugars. The nutrient-rich virgin coconut oil has sparked interest amongst the health-conscious consumer base resulting in the rising demand for coconut oil.

Who is Winning?

Some of the leading companies offering coconut oil are Adani Wilmar, Ruchi Soya Industries, Associated British Foods, Cargill Inc., Archer Daniels Midland Company, Bunge Limited, Adams Group Inc., American Vegetable Oil Inc., Phidco, SC Global, Oleo-Fats Incorporated, PT SIMP, Primex Group, Sumatera Baru, The Hallstar Company, Greenville Agro Corporation, and Others.

These leading manufacturers are focusing on increasing their sales by moving towards online retail. Besides this, they are adopting strategies such as new product launches, mergers, acquisitions, and collaborations to expand their customer base.

Get Valuable Insights into Coconut Oil market 

Future Market Insights, in its new offering, provides an unbiased analysis of the coconut oil market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the coconut oil market based on nature (organic coconut oil and conventional coconut oil), by product type (Virgin or Extra Virgin, Refined, and Partially Hydrogenated), by end-use (food and beverages, cosmetics and personal care, pharmaceutical, household/ retail, and others), by distribution channel (business to business and business to consumer), and across seven major regions.

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade.

Comments

Post a Comment

Popular posts from this blog

Dairy Flavored Milk Market: Worldwide Industry Analysis of Key Findings, and New Market Opportunities Explored by 2022-2032

  Dairy Flavored milk  is a product manufactured by mixing milk, sugar or sweetener, coloring, and natural or artificial flavor. Flavored milk offers some essential nutrients like calcium, potassium, vitamins, phosphorus, and protein. Flavored milk is among the healthiest products from the food and beverage industry. Its health benefit is a boost for the market as consumers are moving towards healthy lifestyles. Also, the high shelf life and increase in demand for refrigerated milk products fuel the growth of the flavored milk market globally. The worldwide flavored milk market is supposed to arrive at a valuation of US$ 3,300 Million of every 2022. Generally speaking, deals of flavored milk are projected to develop at a strong CAGR of 6.4% somewhere in the range of 2022 and 2032, adding up to around US$ 6,119.3 Million toward the finish of 2032 The global dairy flavored milk industry is still on the rise as consumption is still low compared to other drinks like carbonated soft dri
Read more

Peanut Butter Market 2022: Increasing Demand for Efficient Management Practices, Key Segment & Opportunities Report-2030

Peanut butter is a low-calorie product with high protein content prepared from grinding of dry roasted peanuts. It serves as a substitute for the dairy butter. Peanut butter can be used as toppings for food products like bread, crackers, and many others. Peanut butter finds application in several end-user sectors such as bakery, savory and sauces, smoothies, and many more. Peanut butter is a rich source of energy that can be used as an alternative to milk butter. Aside the energy derived from the consumption, peanut butter is also a good source of protein, fiber, unsaturated fat and minerals such as magnesium, zinc, potassium, and vitamin E. With these nutritional value obtained from the consumption of peanut butter, the global market is slated to witness robust growth over the forecast period. Moreover, the growing population size of consumers with weight diseases and increasing disposable income of consumers in developed and developing countries are major factors expected to p
Read more

Global Vegan Fast Food Market Current and Future Trends, Growth Insights, Industry Segments and Regional Forecast by 2033

 The global vegan fast food market is predicted to be worth US$ 18829.5 million in 2023 and US$ 27980.2 million by 2033 The global vegan fast food market is predicted to develop due to increased knowledge about the benefits of a vegan diet. An additional factor, such as growing awareness of animal health and cruelty in the food industry, has encouraged individuals to transition from animal-based to plant-based fast food, which has contributed to the market's growth. As a result of these reasons, demand for vegan fast food is expected to rise at a constant 4.5% CAGR, with the United Kingdom, the United States, Germany, and Japan emerging as important manufacturers. Download Comprehensive Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-16198 The rise in awareness of health issues and human well-being, as well as changes in lifestyle, are the factors driving the growth of the global vegan fast food market. People are migrating toward vegetarian food
Read more