Rising demand for coconut oil from food and cosmetics industries to drive market growth

DUBLIN, February 23, 2022 /PRNewswire/ — The report “Global Coconut Oil Market by Product Type, Source, Application, Nature and Region – Forecast to 2027″ has been added to from ResearchAndMarkets.com offer.

The coconut oil market is estimated at $5.7 billion in 2022 and should reach $7.4 billion by 2027, registering a CAGR of 5.5%, in terms of value.

Increased awareness of the various benefits of coconut oil over its synthetic counterparts has led to an increase in the demand for coconut oil over the past few years. This is attributed to increased consumer awareness of the risks associated with products containing harsh chemicals and preservatives. Major market players have invested significantly in R&D to boost production to meet changing consumer preferences.

Based on product type, the virgin segment is expected to grow at the highest CAGR in the market over the forecast period. Virgin coconut oil has more coconut aroma and taste than RBD oil. It has many benefits, including the health benefits of retained vitamins and antioxidants, the antimicrobial and antiviral activity of 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 and personal care products. RBD Coconut Oil is particularly used in soap making as it helps to lather better. It is an excellent ingredient for adding hardness to bars of soap. Coconut oil is used as a substitute 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 moisturizes and softens the hair. The presence of fatty acids, vitamins and minerals in VCO nourishes and restores hair naturally.

By nature, the organic segment is expected to grow at a higher CAGR during the reporting period

Due to the increasing demand for organic products in the world, the demand for organic coconut oil is also increasing. This is driving the growth of the organic coconut oil segment. The major players operating in the coconut oil market are also helping farmers to grow coconuts organically by providing them with the proper knowledge and helping them to obtain certification for their products.

The European region is expected to grow at the highest CAGR over the forecast period

UK consumers are increasingly aware of the health and environmental benefits of Clean Label products. Growing concern over the use of ingredients in food and beverage products, coupled with growing health awareness, has led consumers to demand more natural and organic food products. The European market for virgin coconut oil has grown considerably in recent years. This is primarily due to the growing consumer focus on healthier diets. Initially, virgin coconut oil was only available in health stores. Virgin coconut oil has become popular in mainstream supermarkets and its industrial applications are growing. The trend toward cleaner labels — meaning fewer, more recognizable ingredients — has been the food industry’s megatrend of the past decade.

Key Players profiled in this report include:

  • Cargill Inc.
  • ADM
  • bunge ltd
  • Mangga DUA
  • Greenville Agro Corporation
  • Royce Food Corporation
  • Novel Nutrients Pvt. ltd.
  • Aromamax International
  • Adam Group
  • Connoils LLC
  • Tantuco Enterprises, Inc.
  • Celebes Coconut Corporation
  • ICFR OMG
  • Aluminum
  • Sun Bionaturals Private Ltd
  • BO International
  • Shree Western G&C Ind.
  • Natural Rmayra
  • Jiangxi Planty Manor Health Industry Co., Ltd.
  • hancole

Premium Previews

  • Attractive Opportunities in the Coconut Oil Market – Rising demand for coconut oil from food and beverage and cosmetics industries to drive the market
  • European Coconut Oil Market, By Product Type and Country – RBD Segment and the Netherlands to represent the largest market shares in the European market in 2022
  • Coconut Oil Market, By Product Type and Region – RBD Segment and Asia Pacific dominate the market during the forecast period
  • Coconut Oil Market, By Application – Food & Beverages segment will dominate the market during the forecast period
  • Coconut Oil Market, By Nature – Conventional segment will dominate the market during the forecast period
  • Coconut Oil Market, By Source – The dried coconut segment will dominate the market during the forecast period

Market dynamics

Drivers

  • Increasing applications in cosmetics and personal care products
  • Growing Demand for Odorless and Tasteless Coconut RBD Oil in Food and Beverage Industry
  • Growing demand for Clean Label products

Constraints

  • Growing Concerns Over High Saturated Fat Content in Coconut Oil

Opportunities

  • Potential application as a 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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