Virgin Coconut Oil Market is Expected to Grow with a CAGR 9.7% Over the Period of 2022-2028
As stated in our extensive report, providing insights on Type, Application, Distribution Channel, and Region; the Global Virgin Coconut Oil Market accounted for USD 2.3 Billion in 2021.
Virgin Coconut Oil (VCO) is a naturally processed and chemical-free product extracted from freshly matured 12 months old coconut. Virgin Coconut Oil is colorless, contains vitamin E, is free of sediments, and has a naturally fresh coconut fragrance. Virgin Coconut Oil can be consumed in its natural state without any further processing. VCO is the best remedy for various skin diseases and acne. It is also a primary ingredient for the best skincare solutions for babies.
Factors such as increasing curative usage along with the integration of therapeutic care for Alzheimer’s disease and anti-cancer therapy will boost the growth of the Virgin Coconut Oil Market. Along with this, the increasing demand for functional ingredients will increase the growth of the Virgin Coconut Oil demand during the period 2022-2028.
Across the globe, the COVID-19 pandemic has caused severe economic losses to various markets. Various lockdowns and restrictions also have caused losses in production and disruption in supply chains in the market. Though increasing consumer awareness by explaining to users about Virgin Coconut Oil’s health benefits with medical applications will aid in boosting the market growth. The increasing demand for functional foods and various healthy diets will also work as fuel for the growth of the market. In essence, health benefits associated with the Virgin Coconut Oil are the key drivers for the steep rise in the demand for the Virgin Coconut Oil globally. However, the high cost of Virgin Coconut Oil is a major constraint to market development.
Asia Pacific dominated the Global Virgin Coconut Oil Market in 2021. Countries like Indonesia and India are the biggest producers and consumers of raw coconut oil. Indonesia is the world leader in coconut production. India is the 3rd largest coconut producer in the world. Because of the high production of coconut oil and increasing coconut plantations, the Asia Pacific region plays a pivotal role in leading the market growth of Virgin Coconut Oil.
Some of the key players in the Global Virgin Coconut Oil Market include 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, Naturoca and others.
Browse the full Report - Virgin Coconut Oil Market Size, Share & Trends Analysis Report by Type (Organic, Inorganic), by Application (Direct Consumption, Indirect Consumption, Food & Beverages, Cosmetics & Personal Care), by Distribution Channel (Store-based Retail, Internet Retailing), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)