Global virgin
coconut oil market stood at $ 2.7 billion in 2018 and is projected to grow at a
CAGR of over 9% during the forecast period to reach $ 4.7 billion by 2024, on the
back of increasing investments in the industry. This influx of investments is supporting
market players to increase their production capabilities and to cater to rising
demand for coconut oil across the globe. Coconut is a widespread plantation and
is grown in more than 80 countries. The world production of coconut is
estimated at around 55 million tons annually. Coconut oil has significant use in
toiletry, food and various industrial sectors.
Increasing adoption of virgin coconut oil in various end use
applications such as in food & beverages sector, on account of increasing
demand for virgin coconut oil in various food products, is a key factor expected
to drive global virgin coconut oil market. In addition, growing perception
about virgin coconut oil being healthier than other oils among the general
population in developed and developing economies is further fueling growth of
global virgin coconut oil market. Increasing demand for virgin coconut oil in the
food industry is anticipated to give a major boost to global virgin coconut oil
market, as more companies are shifting their preferences to the food sector.
In terms of application, global virgin coconut oil market has been categorized
into direct and indirect consumption. Among the applications, cosmetics &
personal care segment of indirect consumption is expected to register significant
growth in the coming years, on account of rising awareness about benefits of
using coconut oil for healthier skin.
Asia-Pacific dominated global virgin coconut oil market in 2018 and is anticipated
to maintain its dominating position during the forecast period as well, owing
to huge production of coconut in the region. The region is also the largest
exporter of coconut oil to other geographical regions. With growing global
demand for virgin coconut oil, market players are finding it difficult to
bridge the gap between high demand from consumers. Various governments in the
region are extending technological support to the players to improve their
production capabilities.
Global virgin coconut oil market is highly fragmented,
due to the presence of numerous small and large vendors. Moreover, the market
is subject to rapidly changing consumer demands and preferences. Some of the leading players in global
virgin coconut oil market are Sun Bio Naturals, Nutiva, Inc., NMK Holdings
Private Limited, Greenville Agro Corporation, iTi Tropicals Inc., The Hain
Celestial Group, Edward & Sons Trading Co, Barlean’s, Jax Coco and Naturoca.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
- To analyze and
forecast global virgin coconut oil market size.
- To classify and
forecast global virgin coconut oil market based on type, application,
distribution channel and regional distribution.
- To identify drivers
and challenges for global virgin coconut oil market.
- To examine competitive
developments such as expansions, new product launches, mergers &
acquisitions, etc., in global virgin coconut oil market.
- To conduct the pricing
analysis for global virgin coconut oil market.
- To identify and analyze
the profile of leading players operating in global virgin coconut oil market.
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Some of the leading players in global
virgin coconut oil market are Sun Bio Naturals, Nutiva, Inc., NMK Holdings
Private Limited, Greenville Agro Corporation, iTi Tropicals Inc., The Hain
Celestial Group, Edward & Sons Trading Co, Barlean’s, Jax Coco and Naturoca.
TechSci
Research performed both primary as well as exhaustive secondary research for
this study. Initially, TechSci Research sourced a list of manufacturers across
the globe. Subsequently, TechSci Research conducted primary research surveys
with the identified companies. While interviewing, the respondents were also
enquired about their competitors. Through this technique, TechSci Research
could include the manufacturers which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the product
offerings, distribution channels and presence of all major manufacturers across
the globe.
TechSci Research calculated global virgin
coconut oil market size using the bottom-up approach, where data for various
applications across various end-user segments was recorded and forecast for the
future years was made. TechSci Research sourced these values from the industry
experts, company representatives and externally validated through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Virgin
coconut oil manufacturers, suppliers, distributors and other stakeholders
- Virgin
coconut oil raw material suppliers
- Potential
investors
- Organizations,
forums and alliances related to virgin coconut oil market
- Research
organizations and consulting companies
The study is
useful in providing answers to several critical questions that are important
for industry stakeholders such as manufacturers and partners, end users, etc.,
besides allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, global
virgin coconut oil market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
·
Market, by Type:
o
Organic
o
Inorganic
- Market, by
Application:
- Direct Consumption
- Indirect Consumption
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
- Market, by
Distribution Channel:
- Store-based Retail
- Internet Retailing
- Market, by Region:
- Asia-Pacific
- India
- China
- Thailand
- Australia
- Japan
- North
America
- United
States
- Canada
- Mexico
- Europe
- Netherlands
- France
- Russia
- Germany
- United
Kingdom
- Italy
- Middle
East & Africa
- Saudi
Arabia
- UAE
- South
Africa
- Qatar
- South
America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present
in global virgin coconut oil market.
Available Customizations
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
- Detailed analysis and profiling
of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case
of direct and indirect sales channel.
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com