Virgin Coconut Oil Market is estimated to be US$ 8660.77 million by 2030 with a CAGR of 10.40% during the forecast period


 Virgin Coconut Oil Market accounted for US$ 1503.95 million in 2020 and is estimated to be US$ 8660.77 million by 2030 and is anticipated to register a CAGR of 10.40%. Coconut is a worldwide crop that is grown in over 80 countries. Coconut oil is derived from coconuts and is widely used in the cosmetics, food, and industrial sectors. Over the last few years, there has been an increase in demand for virgin coconut oil in addition to standard coconut oil derived from coconut. Virgin coconut oil (VCO) is typically derived from fresh coconut milk obtained after 12 months of natural or mechanical pollination of coconuts. The VCO is high in fatty acids and contains vitamins, minerals, and antioxidants, among other things.

The report " Global Virgin Coconut Oil Market, By Product Type (Refined and Unrefined), By Application (Food & Beverages, Beauty and Cosmetics, Pharmaceuticals and Others), By Distribution Channel (Online Channel and Offline Channel), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2029’’

Key Highlights:

  • Cargill Inc., a major participant in the coconut oil market, has purchased the Dalmia olive oil business in order to expand its product offerings. In addition, Cargill Inc. spent $17.5 million in the Izegem edible vegetable oil refinery to increase its capacity.

Analyst View:

Reasons such as the general public's growing view of virgin coconut oil as being healthier than other oils, increased consumer expenditure on functional foods and beverages, expanding interest in nourishing lifestyles, and increasing omega fatty acid intake are predicted to fuel market expansion. The primary factor limiting market expansion is the scarcity of coconuts for virgin oil extraction. Furthermore, the availability of substitutes for virgin coconut oil and the development of novel products are hampering market growth.

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Key Market Insights from the report:

Global Virgin Coconut Oil Market accounted for US$ 1503.95 million in 2020 and is estimated to be US$ 8660.77 million by 2030 and is anticipated to register a CAGR of 10.40%. The Global virgin coconut oil market is segmented based on product type, application, distribution channel, and region.

  • Based on Product Type, Global Virgin Coconut Oil Market is segmented into Refined and Unrefined.
  • Based on Application, Global Virgin Coconut Oil Market is segmented into Food & Beverages, Beauty and Cosmetics, Pharmaceuticals and Others.  
  • Based on Distribution Channel, Global Virgin Coconut Oil Market is segmented into Online Channel and Offline Channel. 
  • By Region, the Global Virgin Coconut Oil Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Virgin Coconut Oil Market:

Key players in global virgin coconut oil market are MaxCare VCO, Nutiva Organic Coconut Oil, Hain Celestial Group, Barlean’s Organic Oils LLC, Tropical Traditions America, Zumi Naturals Ltd, Edward and Sons Trading Company, iTi Tropicals Inc., NMK Holdings Pvt. Ltd., and Greenville Agro Corporation.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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