Global Extra Virgin Coconut Oil Market - Forecast(2023 - 2028)
Global Extra Virgin Coconut Oil Market Overview
Global Extra Virgin Coconut Oil Market size is estimated to reach $2.9 billion by 2027, growing at a CAGR of 9.2% during the forecast period 2022-2027. Extra Virgin Coconut Oil is acquired from the just-produced core of mature coconut kernels. This oil is drawn out either by mechanical or natural procedures. As the coconut core is untreated and raw, the oil thus acquired is named ‘virgin’ coconut oil. Extra Virgin Organic Coconut Oil is one of the most nutritious and therapeutic foods on the planet. This Extra Virgin oil is never clarified, lightened, or cleansed. This is prepared from the freshest and organic coconuts. Extra virgin coconut oil includes ample Medium Chain Triglycerides (MCTs) and is mineral-rich with abundant zinc, calcium, and iron. Extra virgin coconut oil includes anti-oxidants. The great quantity of lauric acid in extra virgin coconut oil supports the heart by minimizing total cholesterol and boosting good cholesterol. Extra virgin coconut oil keeps up hair growth and averts the loss of hair thereby being considered a hair oil. Extra virgin coconut oil is high in protein. The advantages of extra virgin coconut oil including superior moisturizing characteristics and being a rich source of anti-oxidants utilized to handle skin issues, microbial infection, and increasing immunity, are set to drive the Global Extra Virgin Coconut Oil Market. The heightened demand for organic cosmetics fueling the progress of the cosmetic industry is set to propel the growth of the Global Extra Virgin Coconut Oil Market during the forecast period 2022-2027.
Global Extra Virgin Coconut Oil Market Report Coverage
The report: “Global Extra Virgin Coconut Oil
Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth
analysis of the following segments of the Global Extra Virgin Coconut Oil Industry.
By Product Type: Food Grade, Medicine Grade,
Beauty And Cosmetics Grade.
By Application: Food And Beverages, Beauty And Cosmetics, Pharmaceuticals, Others.
By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Retail Stores, Online
Stores, Others.
By Geography: North
America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain,
Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India,
Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil,
Argentina, Chile, Colombia, Rest of South America), and Rest Of The World
(Middle East, Africa).
Key Takeaways
- Geographically, Asia-Pacific Global Extra Virgin Coconut Oil Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the enormous generation of virgin coconut oil from organic coconuts together with the expanding demand for virgin coconut oil for culinary intentions in the Asia-Pacific region.
- Global Extra Virgin Coconut Oil Market growth is being driven by the surging application of extra virgin coconut oil produced from organic coconuts as cooking oil, salad dressing, functional food, food additive, moisturizer, hair oil, and massage oil. However, the disadvantages of virgin coconut oil like overpowering flavor and the expensive price tag are some of the major factors hampering the growth of the Global Extra Virgin Coconut Oil Market.
- Global Extra Virgin Coconut Oil Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Extra Virgin Coconut Oil Market report.
Global Extra Virgin Coconut Oil Market: Market Share (%) by Region, 2021
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Global Extra Virgin Coconut Oil Market Segment Analysis – By Product Type:
The Global Extra Virgin Coconut
Oil Market based on product type can be further segmented into Food Grade, Medicine Grade, and Beauty And
Cosmetics Grade. The Food
Grade Segment held the
largest market share in 2021. This growth is owing to the surging
application of food-grade Extra Virgin Coconut Oil prepared from organic
coconuts particularly in the tropical regions of the world. The health
advantages of Extra Virgin Coconut Oil like reduced cholesterol, supporting
weight loss, and restraining Diabetes is further propelling the growth of the Food
Grade segment.
Furthermore, the Beauty And Cosmetics segment are estimated to grow with
the fastest CAGR of 10.4% during the forecast period 2022-2027 owing to the surging
application of Extra Virgin Coconut Oil typically prepared from organic
coconuts in cosmetic applications apart from therapeutic applications.
Global
Extra Virgin Coconut Oil Market Segment Analysis – By Application:
The Global Extra Virgin
Coconut Oil Market based on application can be further segmented into Food And Beverages, Beauty And Cosmetics, Pharmaceuticals and Others. The Food And Beverages Segment held the largest market
share in 2021. This growth is owing to the
soaring application of Extra Virgin Coconut Oil prepared from organic coconuts in
food cuisines to prepare curries and cook vegetables specifically in regions
like South India. The proliferation inclusion of Extra Virgin Coconut Oil in
food preparations to back weight loss is further propelling the growth of this
segment.
Furthermore, the Beauty And Cosmetics segment
are estimated to grow with the fastest CAGR of 10.6% during the forecast period 2022-2027 owing to the heightened
application of Extra Virgin Coconut Oil prepared from organic coconuts as a
secure and effective moisturizer for all kinds of skin inclusive of dry skin.
Global Extra Virgin Coconut Oil Market Segment Analysis – By Geography:
The Global Extra Virgin
Coconut Oil Market based on geography can be further segmented into North
America, Europe, Asia-Pacific, South America and Rest of the World. Asia-Pacific held the largest share with 40% of the
overall market in 2021. The growth of this region is owing to the soaring demand for Extra Virgin Coconut Oil from developing
countries in conjunction with a boost in the production of organic coconuts in the Asia-Pacific region. The
surging awareness of consumers pertaining to the benefits of organic coconuts
together with the enormous domestic intake of coconut oil in the region is further
propelling the growth of the Global Extra Virgin Coconut Oil Market in the Asia-Pacific
region.
Furthermore, the North
America region is estimated to be the region with the fastest CAGR rate over
the forecast period 2022-2027. This growth is owing to factors like proliferating
domestic demand in the North American region being fulfilled by imports from
countries like the Philippines. The heightened
inclination of consumers towards a healthier lifestyle involving organic
products like Extra Virgin Coconut Oil prepared from organic coconuts is further fuelling the progress of
the Global Extra Virgin Coconut Oil Market in the North American region.
Global
Extra Virgin Coconut Oil Market Drivers
Surging Advantages Of Extra Virgin Coconut Oil Are Projected To Drive The Growth Of Global Extra Virgin Coconut Oil Market:
Vital Significance Of Lauric Acid Is Expected To Boost The Demand Of Global Extra Virgin Coconut Oil:
Lauric acid is present in Extra Virgin Coconut Oil. Lauric acid is a unique medium chain fatty acid discovered in human breast milk providing antimicrobial and immune backing characteristics. The saturated fats in coconut oil are chiefly healthy medium chain fatty acids. Extra virgin coconut oil, being abundant in Lauric Acid helps in keeping skin and scalp irritations at bay. Lauric acid can thoroughly infiltrate into the hair shaft. An investigation also demonstrates that it may support the minimization of split ends. Applying oil on the scalp can support the packing of the gaps between cuticle cells and avert follicle injury. It also supports a boost in shaft lubrication which averts hair damage. The vital significance of lauric acid is therefore driving the growth of the Global Extra Virgin Coconut Oil Market during the forecast period 2022-2027.
Global
Extra Virgin Coconut Oil Market Challenges
Issue Of Physio-Chemical Parameters In Degeneration And Existence Of Substitutes Are Hampering The Growth Of The Global Extra Virgin Coconut Oil Market:
The degeneration of regionally generated cold extract extra virgin coconut oil (EVCO) for application in aromatherapy owing to physio-chemical oxidation in the air at room temperature is a principal issue in the shelf-life and quality of the product. The outcomes of an investigation demonstrate that EVCO has a good storage possibility to be achieved for up to three years. Research is being pursued in the area of new product development in the product as an organic carrier for the skin lightening agent Curcuma. Substitutes exist for coconut oil like Extra Virgin Olive Oil, Sunflower Seed Oil, Grapeseed Oil, Almond Oil, Avocado Oil, Hemp Seed Oil, Neem Oil, and Shea Butter which are further limiting the growth of the Global Extra Virgin Coconut Oil Market. This issue is thus hampering the growth of the Global Extra Virgin Coconut Oil Market.
Global Extra Virgin Coconut Oil Industry Outlook
Novel product launches, research initiatives, acquisitions, geographical expansions and technological advancements are key strategies adopted by players across the market. Global Extra Virgin Coconut Oil top 10 companies include:
- NMK HOLDINGS PRIVATE LIMITED
- Greenville Agro Corporation
- P.T. Harvard Cocopro
- Celebes
- Nature's Answer
- Cocomate
- Manchiee De Coco
- Keratech
- Harin Bio-Tech International Private Limited
- Tropical
Recent Developments
- In January 2022, Asda introduced the least priced Extra Virgin coconut oil in U.K. At just £2.35 per jar, Asda’s Pure Extra Virgin Coconut Oil is priced 27% lower than any other retailer in the U.K. Contrary to the refined coconut oil which goes by way of an array of procedures, extra virgin coconut oil is a cold pressed oil that is cramped from the flesh of the coconut prior to going directly into packaging, without being meddled with.
- In January 2021, Vietcoco formally introduced the novel Extra Virgin Coconut Oil. Luong Quoi Coconut Co., Ltd has formally launched a novel product line that is the Vietcoco Extra Virgin Coconut Oil. Vietcoco extra virgin coconut oil is the integration of purity and contemporary trends, precisely demonstrated by the packaging design as per the novel corporation identify the program, offering customers a novel feeling, active and enthusiastic personality
- In February 2020, QNET introduced Virgin Coconut Oil under Health and Wellness product segment. QNET introduced a novel product termed Nutriplus Virgin Coconut Oil (VCO) under its health and wellness product classification. The premium Virgin Coconut oil is cold-pressed, crude, authentic, and organically derived from the fresh milk of high-quality organic coconuts, from Kerala.
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LIST OF TABLES
1.Global Key Manufacturers Market 2019-2024 ($M)1.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 ($M) - Global Industry Research
1.2 Greenville Agro Corporation Market 2019-2024 ($M) - Global Industry Research
1.3 P.T. Harvard Cocopro Market 2019-2024 ($M) - Global Industry Research
1.4 Naturoca Market 2019-2024 ($M) - Global Industry Research
1.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 ($M) - Global Industry Research
1.6 Celebes Market 2019-2024 ($M) - Global Industry Research
1.7 Sakthi Exports Market 2019-2024 ($M) - Global Industry Research
1.8 NATURE PACIFIC PTY LTD Market 2019-2024 ($M) - Global Industry Research
1.9 Cocomate Market 2019-2024 ($M) - Global Industry Research
1.10 Manchiee De Coco Market 2019-2024 ($M) - Global Industry Research
1.11 KKP Industry Market 2019-2024 ($M) - Global Industry Research
1.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 ($M) - Global Industry Research
1.13 Keratech Market 2019-2024 ($M) - Global Industry Research
1.14 Harin Bio-Tech International Private Limited Market 2019-2024 ($M) - Global Industry Research
2.Global By Food Grade Market 2019-2024 ($M)
3.Global Market by Type Market 2019-2024 ($M)
3.1 Food Grade Market 2019-2024 ($M) - Global Industry Research
3.2 Medicine Grade Market 2019-2024 ($M) - Global Industry Research
3.3 Beauty and cosmetics Grade Market 2019-2024 ($M) - Global Industry Research
4.Global Key Manufacturers Market 2019-2024 (Volume/Units)
4.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Greenville Agro Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 P.T. Harvard Cocopro Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Naturoca Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 (Volume/Units) - Global Industry Research
4.6 Celebes Market 2019-2024 (Volume/Units) - Global Industry Research
4.7 Sakthi Exports Market 2019-2024 (Volume/Units) - Global Industry Research
4.8 NATURE PACIFIC PTY LTD Market 2019-2024 (Volume/Units) - Global Industry Research
4.9 Cocomate Market 2019-2024 (Volume/Units) - Global Industry Research
4.10 Manchiee De Coco Market 2019-2024 (Volume/Units) - Global Industry Research
4.11 KKP Industry Market 2019-2024 (Volume/Units) - Global Industry Research
4.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 (Volume/Units) - Global Industry Research
4.13 Keratech Market 2019-2024 (Volume/Units) - Global Industry Research
4.14 Harin Bio-Tech International Private Limited Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global By Food Grade Market 2019-2024 (Volume/Units)
6.Global Market by Type Market 2019-2024 (Volume/Units)
6.1 Food Grade Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Medicine Grade Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Beauty and cosmetics Grade Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Key Manufacturers Market 2019-2024 ($M)
7.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
7.2 Greenville Agro Corporation Market 2019-2024 ($M) - Regional Industry Research
7.3 P.T. Harvard Cocopro Market 2019-2024 ($M) - Regional Industry Research
7.4 Naturoca Market 2019-2024 ($M) - Regional Industry Research
7.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
7.6 Celebes Market 2019-2024 ($M) - Regional Industry Research
7.7 Sakthi Exports Market 2019-2024 ($M) - Regional Industry Research
7.8 NATURE PACIFIC PTY LTD Market 2019-2024 ($M) - Regional Industry Research
7.9 Cocomate Market 2019-2024 ($M) - Regional Industry Research
7.10 Manchiee De Coco Market 2019-2024 ($M) - Regional Industry Research
7.11 KKP Industry Market 2019-2024 ($M) - Regional Industry Research
7.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 ($M) - Regional Industry Research
7.13 Keratech Market 2019-2024 ($M) - Regional Industry Research
7.14 Harin Bio-Tech International Private Limited Market 2019-2024 ($M) - Regional Industry Research
8.North America By Food Grade Market 2019-2024 ($M)
9.North America Market by Type Market 2019-2024 ($M)
9.1 Food Grade Market 2019-2024 ($M) - Regional Industry Research
9.2 Medicine Grade Market 2019-2024 ($M) - Regional Industry Research
9.3 Beauty and cosmetics Grade Market 2019-2024 ($M) - Regional Industry Research
10.South America Key Manufacturers Market 2019-2024 ($M)
10.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
10.2 Greenville Agro Corporation Market 2019-2024 ($M) - Regional Industry Research
10.3 P.T. Harvard Cocopro Market 2019-2024 ($M) - Regional Industry Research
10.4 Naturoca Market 2019-2024 ($M) - Regional Industry Research
10.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
10.6 Celebes Market 2019-2024 ($M) - Regional Industry Research
10.7 Sakthi Exports Market 2019-2024 ($M) - Regional Industry Research
10.8 NATURE PACIFIC PTY LTD Market 2019-2024 ($M) - Regional Industry Research
10.9 Cocomate Market 2019-2024 ($M) - Regional Industry Research
10.10 Manchiee De Coco Market 2019-2024 ($M) - Regional Industry Research
10.11 KKP Industry Market 2019-2024 ($M) - Regional Industry Research
10.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 ($M) - Regional Industry Research
10.13 Keratech Market 2019-2024 ($M) - Regional Industry Research
10.14 Harin Bio-Tech International Private Limited Market 2019-2024 ($M) - Regional Industry Research
11.South America By Food Grade Market 2019-2024 ($M)
12.South America Market by Type Market 2019-2024 ($M)
12.1 Food Grade Market 2019-2024 ($M) - Regional Industry Research
12.2 Medicine Grade Market 2019-2024 ($M) - Regional Industry Research
12.3 Beauty and cosmetics Grade Market 2019-2024 ($M) - Regional Industry Research
13.Europe Key Manufacturers Market 2019-2024 ($M)
13.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
13.2 Greenville Agro Corporation Market 2019-2024 ($M) - Regional Industry Research
13.3 P.T. Harvard Cocopro Market 2019-2024 ($M) - Regional Industry Research
13.4 Naturoca Market 2019-2024 ($M) - Regional Industry Research
13.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
13.6 Celebes Market 2019-2024 ($M) - Regional Industry Research
13.7 Sakthi Exports Market 2019-2024 ($M) - Regional Industry Research
13.8 NATURE PACIFIC PTY LTD Market 2019-2024 ($M) - Regional Industry Research
13.9 Cocomate Market 2019-2024 ($M) - Regional Industry Research
13.10 Manchiee De Coco Market 2019-2024 ($M) - Regional Industry Research
13.11 KKP Industry Market 2019-2024 ($M) - Regional Industry Research
13.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 ($M) - Regional Industry Research
13.13 Keratech Market 2019-2024 ($M) - Regional Industry Research
13.14 Harin Bio-Tech International Private Limited Market 2019-2024 ($M) - Regional Industry Research
14.Europe By Food Grade Market 2019-2024 ($M)
15.Europe Market by Type Market 2019-2024 ($M)
15.1 Food Grade Market 2019-2024 ($M) - Regional Industry Research
15.2 Medicine Grade Market 2019-2024 ($M) - Regional Industry Research
15.3 Beauty and cosmetics Grade Market 2019-2024 ($M) - Regional Industry Research
16.APAC Key Manufacturers Market 2019-2024 ($M)
16.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
16.2 Greenville Agro Corporation Market 2019-2024 ($M) - Regional Industry Research
16.3 P.T. Harvard Cocopro Market 2019-2024 ($M) - Regional Industry Research
16.4 Naturoca Market 2019-2024 ($M) - Regional Industry Research
16.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
16.6 Celebes Market 2019-2024 ($M) - Regional Industry Research
16.7 Sakthi Exports Market 2019-2024 ($M) - Regional Industry Research
16.8 NATURE PACIFIC PTY LTD Market 2019-2024 ($M) - Regional Industry Research
16.9 Cocomate Market 2019-2024 ($M) - Regional Industry Research
16.10 Manchiee De Coco Market 2019-2024 ($M) - Regional Industry Research
16.11 KKP Industry Market 2019-2024 ($M) - Regional Industry Research
16.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 ($M) - Regional Industry Research
16.13 Keratech Market 2019-2024 ($M) - Regional Industry Research
16.14 Harin Bio-Tech International Private Limited Market 2019-2024 ($M) - Regional Industry Research
17.APAC By Food Grade Market 2019-2024 ($M)
18.APAC Market by Type Market 2019-2024 ($M)
18.1 Food Grade Market 2019-2024 ($M) - Regional Industry Research
18.2 Medicine Grade Market 2019-2024 ($M) - Regional Industry Research
18.3 Beauty and cosmetics Grade Market 2019-2024 ($M) - Regional Industry Research
19.MENA Key Manufacturers Market 2019-2024 ($M)
19.1 NMK HOLDINGS PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
19.2 Greenville Agro Corporation Market 2019-2024 ($M) - Regional Industry Research
19.3 P.T. Harvard Cocopro Market 2019-2024 ($M) - Regional Industry Research
19.4 Naturoca Market 2019-2024 ($M) - Regional Industry Research
19.5 SUN BIO NATURALS INDIA PRIVATE LIMITED Market 2019-2024 ($M) - Regional Industry Research
19.6 Celebes Market 2019-2024 ($M) - Regional Industry Research
19.7 Sakthi Exports Market 2019-2024 ($M) - Regional Industry Research
19.8 NATURE PACIFIC PTY LTD Market 2019-2024 ($M) - Regional Industry Research
19.9 Cocomate Market 2019-2024 ($M) - Regional Industry Research
19.10 Manchiee De Coco Market 2019-2024 ($M) - Regional Industry Research
19.11 KKP Industry Market 2019-2024 ($M) - Regional Industry Research
19.12 Genius Nature Herbs Pvt Ltd Market 2019-2024 ($M) - Regional Industry Research
19.13 Keratech Market 2019-2024 ($M) - Regional Industry Research
19.14 Harin Bio-Tech International Private Limited Market 2019-2024 ($M) - Regional Industry Research
20.MENA By Food Grade Market 2019-2024 ($M)
21.MENA Market by Type Market 2019-2024 ($M)
21.1 Food Grade Market 2019-2024 ($M) - Regional Industry Research
21.2 Medicine Grade Market 2019-2024 ($M) - Regional Industry Research
21.3 Beauty and cosmetics Grade Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)2.Canada Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
3.Mexico Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
4.Brazil Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
5.Argentina Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
6.Peru Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
7.Colombia Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
8.Chile Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
10.UK Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
11.Germany Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
12.France Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
13.Italy Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
14.Spain Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
16.China Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
17.India Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
18.Japan Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
19.South Korea Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
20.South Africa Global Extra Virgin Coconut Oil Market Revenue, 2019-2024 ($M)
21.North America Global Extra Virgin Coconut Oil By Application
22.South America Global Extra Virgin Coconut Oil By Application
23.Europe Global Extra Virgin Coconut Oil By Application
24.APAC Global Extra Virgin Coconut Oil By Application
25.MENA Global Extra Virgin Coconut Oil By Application