Global Virgin Coconut Oil Market Analysis by Type, Application, Region and segments forecast till 2033
Market Overview
The global virgin coconut oil market is valued at USD 2,400 million in 2022 and is projected to reach a value of USD 4,240 million in 2033 expanding at a CAGR of 7.35% over the forecast period of 2022-2033.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 2,400 million |
Market Forecast in 2033 | USD 4,240 million |
CAGR % 2023-2033 | 7.35% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Greenville Agro Corporation, The Coconut Company (UK) Ltd., Healthy Traditions, Inc. , Nutiva Inc., The Hain Celestial Group, MaxCare VCO, Celebes Coconut Corporation, SC Global Coco Products Inc., Barlean's ORGANIC OILS LLC, Hain Celestial Group, Carrington Farms, La Tourangelle, Naturoca, Farmerindia , Viva Naturals, Garden of Life LLC, PT. Harvard Cocopro, Jarrow Formulas, Inc., and Others. |
Global Virgin Coconut Oil Market- Description
Coconut oil is mainly used as hair oil because of its excellent care product that promotes hair health, shine, and growth. Virgin coconut oil is used for body massage as it possesses anti-aging, antibacterial, antioxidant, and also anti-inflammatory properties. Additionally, coconut oil is also used for cooking in many Asian countries. This is because coconut oil has very low level of unsaturated fatty acids and it maintains good cholesterol levels in the body that helps in the reduction of the risk of heart diseases. Coconut oil is also finds wide-range of applications in the food industry as dietary fat in the preparation of filled milk, infant milk powder, ice-cream, and confectionery and bakery products.
Rising use of the coconut oil in personal care, cosmetics, chemical, and also food industry have boosted the demand for virgin coconut oil over the forecast period. The raw material supply is one of the major parts in the value chain of the virgin coconut oil market and here the key players and the vendors have been facing the problems because of poor logistics, and restrictions on public movement in the affected countries across the globe that can lead to supply disruptions. Also, the lack of raw material and labour in manufacturing units of the coconut oil was the considerably affected the coconut oil market in COVID-19 pandemic. Thus, the pandemic had a negative impact on the market growth.
Global Virgin Coconut Oil Market- Key Market Trends
•Rising awareness about health benefits have boosted the market growth
One of the major factor that has boosted the market growth over the forecast period is the rising awareness about the health benefits of the virgin coconut oil. This is because a number of health benefits is associated with the coconut oil that has been contributing in medical consumables and pharmaceutical products in order to maintain good health. Also, virgin coconut oil is rich in healthy fatty acids, have vitamins, minerals, and also antioxidants. All these have boosted the market growth over the forecast period.
•Number of replacements of the virgin coconut oil present in the market
Another factor that has fuelled the market growth over the forecast period is the number of replacements that are present in the market of the virgin coconut oil. There are a number of replacements such as, sunflower oil, almond oil, virgin olive oil, canola oil, and others that have hindered the market growth.
Global Virgin Coconut Oil Market- Segmental Analysis
Based on Type
•Organic
•In-organic
The organic segment has dominated the market growth over the forecast period. This is because of all the natural goodness of coconuts present in it. These oils do not involve heat and also helps in retaining the products’ nutritional values.
Based on Application
•Beauty and Cosmetics
•Food and Beverages
•Pharmaceuticals
•Others
The food and beverages segment has dominated the market growth over the forecast period. This is because of the rising use of virgin coconut oil in food products because of its authentic flavor as well as aroma.
Global Virgin Coconut Oil Market- Regional Analysis
The Global Virgin Coconut Oil Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because of rising coconut plantations and also the high domestic consumption over the forecast period. Also, the region is the largest contributor in both production and consumption segment.
Global Virgin Coconut Oil Market- Recent Developments
· In January 2021, Nutiva, a leading organic food company, announced the acquisition of Coconut Secret, a producer of virgin coconut oil and other coconut-based products. The acquisition is expected to expand Nutiva's product portfolio and distribution network.
· In November 2020, Tantuco Enterprises, a Philippine-based coconut products manufacturer, announced the launch of new virgin coconut oil (VCO) products, including VCO capsules, VCO soap, and VCO-based food supplements. The new products are aimed at tapping into the growing demand for natural and organic products.
· In September 2020, Franklin Baker, a Philippine-based coconut products manufacturer, announced a USD 30 million expansion of its virgin coconut oil production capacity. The expansion is aimed at meeting the increasing demand for high-quality VCO in the global market.
· In August 2020, Bioriginal, a provider of specialty oils and fats, announced the launch of a new line of virgin coconut oil products, including organic and fair-trade options. The new product line is aimed at meeting the growing demand for natural and sustainable products.
· In June 2020, NMK Holdings, a Sri Lankan coconut products manufacturer, announced the expansion of its virgin coconut oil production facility with a $4 million investment. The expansion is expected to increase the company's production capacity and improve efficiency in its VCO production process.
Global Virgin Coconut Oil Market: Key Companies
· Greenville Agro Corporation
· The Coconut Company (UK) Ltd.
· Healthy Traditions, Inc.
· Nutiva Inc.
· The Hain Celestial Group
· MaxCare VCO
· Celebes Coconut Corporation
· SC Global Coco Products Inc.
· Barlean's ORGANIC OILS LLC
· Hain Celestial Group
· Carrington Farms
· La Tourangelle
· Naturoca
· Farmerindia
· Viva Naturals
· Garden of Life LLC
· PT. Harvard Cocopro
· Jarrow Formulas, Inc.
· Others.
Global Virgin Coconut Oil Market: Regional Scope
North America
· U.S.
· Canada
· Mexico
Europe
· U.K.
· Germany
· France
· Italy
· Spain
· Rest of Europe
Asia Pacific
· China
· India
· Japan
· South Korea
· Australia
· Rest of Asia Pacific
South America
· Brazil
· Argentina
· Rest of South America
Middle East and Africa
· Saudi Arabia
· UAE
· Egypt
· South Africa
· Rest of Middle East and Africa
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Frequently Asked Questions
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1.Global Virgin Coconut Oil Market Introduction and Market Overview
1.1.Objective of the Market Research Study
1.2.Virgin Coconut Oil Market Definition & Description
1.3.Research Data Parameters & Reporting Timelines
1.3.1.Historical Data Reporting Years – 2020 to 2021
1.3.2.Projected Data Reporting Years – 2022 to 2033
1.3.3.Reporting Data Parameters – Value (US$ Million)
1.4.Global Virgin Coconut Oil Market Scope and Market Estimation
1.4.1.Global Virgin Coconut Oil Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2.Global Virgin Coconut Oil Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5.Virgin Coconut Oil Market Segmentation
1.5.1.Type of Global Virgin Coconut Oil Market
1.5.2.Application of Global Virgin Coconut Oil Market
1.5.3.Key Regions of Global Virgin Coconut Oil Market
2.Global Virgin Coconut Oil Market - Executive Summary
2.1.Global Virgin Coconut Oil Market – Summary & Snapshot
2.2.Global Virgin Coconut Oil Market, By Type (US$ Million)
2.3.Global Virgin Coconut Oil Market, By Application (US$ Million)
2.4.Global Virgin Coconut Oil Market, By Geography (US$ Million)
2.5.Global Virgin Coconut Oil Market Outlook & Future Opportunities
3.Virgin Coconut Oil Market Trends, Outlook, and Factors Analysis
3.1.Global Virgin Coconut Oil Market Industry Development Trends under COVID-19 Outbreak
3.1.1.Global COVID-19 Status Overview
3.1.2.Influence of COVID-19 Outbreak on Global Virgin Coconut Oil Market Industry Development
3.1.3.Pre & Post COVID-19 Trends and Scenarios
3.2.Virgin Coconut Oil Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1.Drivers
3.2.1.1.Health benefits associated with the virgin coconut oil
3.2.1.2.Increasing popularity of virgin coconut oil in developed countries
3.2.2.Restraints
3.2.2.1.Negative image among consumers
3.2.3.Opportunities
3.2.3.1.Emerging markets offer favorable growth opportunities.
3.2.4.Impact Analysis of Drivers and Restraints
3.3.Ecosystem/ Value Chain Analysis
3.4.Porter’s Five Forces Analysis
3.5.SWOT Analysis
3.6.PEST Analysis
3.7.Average Selling Prices and Pricing Trends Analysis of Virgin Coconut Oil Market
3.8.Technological Roadmap
3.9.Key Investment Pockets of Virgin Coconut Oil Market
3.9.1.By Type
3.9.2.By Application
3.9.3.By Regions
4.Global Virgin Coconut Oil Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1.Global Virgin Coconut Oil Market, 2020 – 2021 (US$ Million)
4.2.Global Virgin Coconut Oil Market, By Type, 2020 to 2021 (US$ Million)
4.3.Global Virgin Coconut Oil Market, By Application, 2020 to 2021 (US$ Million)
4.4.Global Virgin Coconut Oil Market, By Region, 2020 to 2021 (US$ Million)
5.Global Virgin Coconut Oil Market Estimates & Forecast Trend Analysis, by Type
5.1.Global Virgin Coconut Oil Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033
5.2.Global Virgin Coconut Oil Market Revenue (US$ Million) Estimates and Forecasts, by Type, 2022 to 2033
5.2.1.Organic
5.2.2.In-Organic
6.Global Virgin Coconut Oil Market Estimates & Forecast Trend Analysis, by Application
6.1.Global Virgin Coconut Oil Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033
6.2.Global Virgin Coconut Oil Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033
6.2.1.Beauty and Cosmetics
6.2.2.Food and Beverages
6.2.3.Pharmaceuticals
6.2.4.Others
7.Global Virgin Coconut Oil Market Analysis and Forecast, by Region
7.1.Global Virgin Coconut Oil Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
7.2.Global Virgin Coconut Oil Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033
7.2.1.North America
7.2.2.Europe
7.2.3.Asia Pacific
7.2.4.Middle East and Africa
7.2.5.Latin America
8.North America Virgin Coconut Oil Market: Estimates & Forecast Trend Analysis
8.1.North America Virgin Coconut Oil Market Assessments & Key Findings
8.2.North America Virgin Coconut Oil Market Share (%) Estimates and Forecasts, 2022 & 2033
8.3.North America Virgin Coconut Oil Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
8.3.1.By Type
8.3.2.By Application
8.3.3.By Major Country
8.3.3.1.The U.S.
8.3.3.2.Canada
9.Europe Virgin Coconut Oil Market: Estimates & Forecast Trend Analysis
9.1.Europe Virgin Coconut Oil Market Assessments & Key Findings
9.2.Europe Virgin Coconut Oil Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3.Europe Virgin Coconut Oil Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
9.3.1.By Type
9.3.2.By Application
9.3.3.By Major Country
9.3.3.1.Germany
9.3.3.2.The U.K.
9.3.3.3.France
9.3.3.4.Italy
9.3.3.5.Spain
9.3.3.6.Rest of Europe (includes all other European countries)
10.Asia Pacific Virgin Coconut Oil Market: Estimates & Forecast Trend Analysis
10.1.Asia Pacific Virgin Coconut Oil Market Assessments & Key Findings
10.2.Asia Pacific Virgin Coconut Oil Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3.Asia Pacific Virgin Coconut Oil Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
10.3.1.By Type
10.3.2.By Application
10.3.3.By Major Country
10.3.3.1.China
10.3.3.2.Japan
10.3.3.3.India
10.3.3.4.ASEAN
10.3.3.5.South Korea
10.3.3.6.Rest of Asia Pacific (includes all other Asia Pacific countries)
11.Middle East & Africa Virgin Coconut Oil Market: Estimates & Forecast Trend Analysis
11.1.Middle East & Africa Virgin Coconut Oil Market Assessments & Key Findings
11.2.Middle East & Africa Virgin Coconut Oil Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3.Middle East & Africa Virgin Coconut Oil Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
11.3.1.By Type
11.3.2.By Application
11.3.3.By Major Country
11.3.3.1.GCC
11.3.3.2.South Africa
11.3.3.3.Egypt
11.3.3.4.Rest of Middle East & Africa (includes all other Middle East & Africa countries)
12.Latin America Virgin Coconut Oil Market: Estimates & Forecast Trend Analysis
12.1.Latin America Market Assessments & Key Findings
12.2.Latin America Virgin Coconut Oil Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3.Latin America Virgin Coconut Oil Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1.By Type
12.3.2.By Application
12.3.3.By Major Country
12.3.3.1.Brazil
12.3.3.2.Mexico
12.3.3.3.Rest of Latin America (includes all other Latin America countries)
13.Competitive Landscape
13.1.Virgin Coconut Oil Market Revenue Share Analysis (%), by Major Players (2021)
13.2.Virgin Coconut Oil Market Competition Matrix, by Leading Players
13.3.Virgin Coconut Oil List of Emerging, Prominent and Leading Players
13.4.Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
14.Company Profiles
14.1.Edward & Sons Trading Co
14.1.1.Company Overview & Insights
14.1.2.Financial Performance
14.1.3.Product / Service Portfolio
14.1.4.Geographical Footprint & Share
14.1.5.Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
14.2.Greenville Agro Corporation
14.3.The Coconut Company (UK) Ltd.
14.4.Healthy Traditions, Inc.
14.5.Nutiva Inc.
14.6.The Hain Celestial Group
14.7.MaxCare VCO
14.8.Celebes Coconut Corporation
14.9.SC Global Coco Products Inc.
14.10.Barlean's ORGANIC OILS LLC
14.11.Hain Celestial Group
14.12.Carrington Farms
14.13.La Tourangelle
14.14.Naturoca
14.15.Farmerindia
14.16.Viva Naturals
14.17.Garden of Life LLC
14.18.PT. Harvard Cocopro
14.19.Jarrow Formulas, Inc.
14.20.Others
15.Assumptions and Research Methodology
15.1.Data Mining
15.2.Secondary Research
15.3.Primary Research
15.4.Subject Matter Expert Advice
15.5.Quality Check
15.6.Final Review
15.7.Data Triangulation
15.8.Bottom-Up Approach
15.9.Top Down Approach
15.10.Research Flow
15.11.Key Insights from Industry Experts
15.12.Data Sources
15.13.Assumptions
15.14.Limitations
16.Conclusions and Recommendations
16.1.Key Research Findings and Conclusion
16.2.Key Insights & Recommendations from Analysts
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