Coconut Oil Market

The Coconut Oil Market is valued at USD 3.55 Billion in 2022 and is expected to reach USD 5.16 Billion by 2029 with a CAGR of 5.52% over the forecast period.

Global Coconut Oil Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Rising demand for processed and convenience food is one of the major factors driving the growth of Global Coconut Oil market.

Scope-              

The global coconut oil market refers to the production, consumption, and trade of coconut oil across the world. Coconut oil is a popular vegetable oil that is extracted from the meat or kernel of mature coconuts. Coconut oil has a wide range of applications due to its unique properties and benefits, and its popularity is expected to continue to grow in the coming years. It is widely used in various industries, including food and beverage, cosmetics, and healthcare. Coconut oil is a popular ingredient in a wide range of cosmetic and personal care products, including soaps, lotions, moisturizers, shampoos, and conditioners. It is known for its moisturizing and skin-nourishing properties.

Covid-19 has mixed impacted on the growth of the Coconut Oil market. On the positive side, coconut oil has been touted as a potential immune booster, and as people have become more health-conscious during the pandemic, demand for health foods, including coconut oil, has increased. Additionally, the closure of many restaurants and other food service outlets has led to an increase in home cooking, which has also boosted demand for coconut oil as a cooking ingredient. On the negative side, the pandemic has disrupted global supply chains, leading to shortages of raw materials and other inputs necessary for the production of coconut oil. This has led to higher prices and reduced availability of coconut oil in some regions. Additionally, the economic impact of the pandemic has reduced disposable income in some regions, leading to reduced demand for luxury food items like coconut oil.

The Coconut Oil market is segmented based on type, application, distribution channel, packaging and region & country level. Based on type, the Coconut Oil market is segmented into virgin coconut oil and coconut RBD Oil. Based on application, the Coconut Oil market is segmented into food industry, agriculture, cosmetics and personal care industry, chemical industry, and others. Based on distribution channel, the Coconut Oil market is segmented into direct distribution, convenience store, e-commerce, and others. Based on packaging, the coconut oil market is segmented into bottle, jar, can, pouch and others.

The regions covered in this Coconut Oil market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of Coconut Oil is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players–

Some of the key players for Coconut Oil are -

• Cargill Incorporated
• ADM
• Bunge Limited
• 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
• others

Segmentation–

By Product Type:

• Virgin Coconut Oil
• Coconut RBD Oil

By Application:

• Food industry
• Agriculture
• Cosmetics and personal care industry
• Chemical industry
• Others

By Distribution Channel:

• Direct Distribution
• Convenience Store
• E-Commerce
• Others

 By Packaging:

• Bottle
• Jar
• Can
• Pouch
• Others

By Regional & Country Analysis:

• North America

• U.S.
• Mexico
• Canada

• Europe

• UK
• France
• Germany
• Italy

• The Asia Pacific

• China
• Japan
• India
• Southeast Asia

• South America

• Brazil,
• Argentina
• Columbia

• The Middle East and Africa

• GCC
• Africa
• Rest of the Middle East and Africa

Rising demand for Processed and Convenience Food is One of the Major Factors Driving the Growth of Global Coconut Oil Market

Increase in disposable income, rapidly changing lifestyles, changing habit of  food consumption choices are the factors contributing to the growth of the coconut oil market. Due to changing lifestyles, the demand for processed and convenience food is very high in developed countries. Coconut oil is promoted as an alternative to butter and shortening for people who follow a vegetarian diet. It is also used in many processed foods for its baking qualities, such as theater popcorn, coffee creamer, and some candies. In addition, developed economies have grown significantly over the years in terms of food production. High demand for processed food in developing nations and high consumption of convenience food due to growing working population. For example; India's exports of agricultural and processed food products rose 14 percent to $5.987 billion in the first three months.

In addition, increasing use of coconut oil in skincare products is also supplementing the growth of the market. People are more aware of skin care products; many manufacturers are creating more organic cosmetic products and this is ultimately increasing the demand for coconut oil. It is used to treat diseases and infections, heal wounds, promote strong bone growth, and protect the skin from scarring. Coconut oil works as a skin and hair conditioner without clogging pores, leaving it perfect for sensitive, inflamed and irritated skin. It also soothes sunburns and blisters, removes dead skin and promotes the growth of new and healthy skin.

However, growing concern for the high content of saturated fat in coconut oil may hinder the growth of the coconut oil market. In spite of that, the demand for plant-based products, including plant-based oils, is on the rise as consumers become more environmentally conscious and seek out alternatives to animal products. Coconut oil, which is a plant-based product, can benefit from this trend.

Asia Pacific is Expected to Capture the Largest Share of the Global Coconut Oil Market

Geographically, Asia Pacific is expected to capture the largest share of the global coconut oil market due to the high demand as well as production of coconut oil. The region includes countries such as Indonesia, the Philippines, India, and Sri Lanka, which are among the top producers of coconut oil in the world. In terms of consumption, the APAC region is also a major market for coconut oil, with a growing demand for the product in both the food and non-food sectors. In the food sector, coconut oil is used as a cooking oil, as an ingredient in processed foods, and as a substitute for other oils and fats. In the non-food sector, coconut oil is used in cosmetics, soaps, and other personal care products. For example, Philippines produces 1193800 tons in 2019, Indonesia produces 895000 tons, India produces 351600 tons.

Europe and North America regions followed Asia Pacific due to the consciousness about health.  In the European and North American countries people are more inclining towards the veganism and coconut oil is more used into the vegan foods. Coconut oil market shown a significant growth over the last few years. This is mainly because of growing consumer attention to healthier diets. coconut oil has now become popular in mainstream supermarkets and its industrial applications are growing.

News-

KSCDC Launched Coco Royal Coconut Oil

On December 24^th, 2021; The Kerala State Coconut Development Corporation (KSCDC) launched ‘Coco Royal’, a new brand of edible coconut oil, the logo of which will be officially launched.

Nutiva Strengthened Coconut Category Leadership with Acquisition of Coconut Secret

On August 11^th, 2021; Nutiva, a pioneer of the organic plant-based food movement with its line-up of USDA Certified Organic and Non-GMO Project Verified culinary oils and superfoods, acquired Coconut Secret, the leading brand of Coconut Aminos, from its parent company Leslie’s Organics, LLC. Coconut Secret established itself as the leader in the soy-free Asian sauces category.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2022:	USD 3.55 Billion
Base year considered	2021
Forecast Period CAGR %:	5.52%
Market Size Expected in 2029:	USD 5.16 Billion
Tables, Charts & Figures:	175
Pages	300
Companies	Cargill Incorporated, ADM, Bunge Limited, 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, many others
Segments Covered	By Product Type, By Application, By Distribution Channel, By Packaging
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa