Global Organic Virgin Coconut Oil Market Outlook 2031:
The global organic virgin coconut oil market size was valued at USD 616.61 Million in 2022 and is projected to reach USD 1.05 Billion by 2031, expanding at a CAGR of 6.2% during the forecast period 2023 - 2031. Increasing awareness regarding healthy eating habits and growing preference for organic food and beverage products are projected to boost the expansion of the global market. Additionally, high prevalence of obesity is boosting the consumption of organic virgin coconut oil.
Organic virgin coconut oil (VCO), when compared to refined, bleached, and deodorized (RBD) coconut oil looks similar in the liquid form. However, in the solid form, organic VCO is pure white application; whereas RBD coconut oil ranges from white to light yellow color. In terms of composition, both do not differ much, although organic VCO includes some polyphenols, vitamins, and minerals that contribute toward the fragrance, taste, and goodness of the oil more than its counterpart.
The oil contains healthy fatty acids that help burn the stored fat in the human body, resulting in weight loss. Rising urbanization and industrialization are boosting wealth, as people are investing more in premium products and increasing the adoption of organic virgin coconut oil, thereby propelling the market. Urbanization has a significant impact on the supply chain of any product or commodity which brings about substantial developments, which is expected to drive the demand for organic virgin coconut oil.
Organic Virgin Coconut Oil Market Dynamics
Growing consumption of organic virgin coconut oil is attributed to several health and beauty benefits associated with it. The oil is widely used in a range of things products used for cooking, cleaning, and moisturizing. It is used to improve the health and condition of their hair. The use of virgin coconut oil for hair helps reduce protein loss from the hair, thus improving its health.
The oil is predominantly from a medium-chain fatty acid called lauric acid, which gives the oil a straight structure and increases absorption into the hair shaft. Virgin coconut oil is better than cold pressed oil as during the procedure, the heat used to dry coconut is expected to decrease the antioxidant content in cold pressed oils.
Increasing awareness among consumers regarding these benefits of coconut derivatives can drive the global market. Other benefits such as injection of good cholesterols and weight loss are expected to boost the market. Organic virgin coconut oil is also to combat bacterial and viral infections. The oil deactivates the viruses and prevents them from further growth.
Several nations are eagerly adopting organic farming practices by promoting legislation and standards. This significantly boosts the popularity of organic foods, especially in North America and Europe, where sales were up to 90% of the total consumption of organic food. Furthermore, rise in demand for organic foods in the counties in North America and Europe has propelled the demand for organic products in developing countries, thus boosting the consumption of organic foods. Growing Consumer preference for organic foods and products is expected to drive the global organic virgin coconut oil market.
Scope of Organic Virgin Coconut Oil Market Report:
The report on the organic virgin coconut oil market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes |
Details |
| Report Title |
Organic Virgin Coconut Oil Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year |
2022 |
| Historic Data |
2016 – 2021 |
| Forecast Period |
2023–2031 |
| Segmentation |
By Extraction Method (Cold Extraction, Hot Extraction, and Others), By Packaging Type (Bottles & Jars, Pouches, Bulk Packaging, and Others), By Application (Direct Consumption and Industrial Consumption), and By Distribution Channel (Online and Offline) |
| Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
| Key Players Covered in the Report |
The Hain Celestial Group, Inc., Dr. Bronner's Magic Soaps, Nature's Way Products LLC, La Tourangelle, Inc., Barlean's, Nutiva Inc, Celebes Coconut Corp, SC Global Coco Products, Inc., Viva Naturals and Source Naturals, Inc. |
Organic Virgin Coconut Oil Market Segment Insights
In terms of extraction method, the organic virgin coconut oil market is categorized as cold extraction, hot extraction, and others. The cold extraction segment holds a significant share of 67.1% in the global market owing to its ability to preserve the natural characteristics of the oil such as purity, flavor, aroma, and nutritional value. Additionally, these processes do not include oxidization; therefore, it can be used for several medical and healthcare purposes. The hot extraction segment is expected to grow at a substantial pace, owing to the high yield offered by the process as compared to cold extraction.
On the basis of application, the organic virgin coconut oil market is bifurcated into direct consumption and industrial consumption. The direct consumption segment holds a significant share of the market since organic virgin coconut oil is directly consumed pertaining to several medicinal benefits associated with the product. The industrial consumption segment is projected to expand at a significant CAGR of 6.2% owing to the increasing use of oil in several industries such as food & beverages, beauty & cosmetics, and pharmaceuticals.
Based on region, the global organic virgin coconut oil market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted market share of 68.6% in 2019, due to the presence of a large number of prominent players and local players in the region. Moreover, rising urbanization and increasing disposable income are expected to fuel the market in the region. Additionally, increasing awareness in the region regarding organic eating is expected to increase the demand for organic virgin coconut oil.
The market in North America is projected to expand at a CAGR of 6.1% during the forecast period. High prevalence of obesity is boosting the consumption of organic virgin coconut oil in the region. Furthermore, people in North America are prone to skin burns, which is expected to increase the demand for organic virgin coconut oil. The oil acts as a barrier for the skin against harmful ultraviolet rays from the sun.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Organic Virgin Coconut Oil Market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Organic Virgin Coconut Oil Market Performance
Segments
By Extraction Method
- Cold Extraction
- Hot Extraction
- Others
By Packaging Type
- Bottles & Jars
- Pouches
- Bulk Packaging
- Others
By Application
- Direct Consumption
- Industrial Consumption
By Distribution Channel
By Region
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Russia
- CIS Countries
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
Key Players
Competitive Landscape
The global organic virgin coconut oil market is highly fragmented with a few Tier-1 players and a large concentration of Tier-2 and Tier-3 players. The threat for new entrants is expected to remain low to moderate during the forecast period due to the presence of several new players in the market. Improvements in product quality, growing demand for organic virgin coconut oil in industries such as food & beverages, beauty & cosmetics, and pharmaceuticals are increasing the number of small-scale producers.
- Some of the key players in the market include The Hain Celestial Group, Inc., Dr. Bronner's Magic Soaps, Nature's Way Products LLC, La Tourangelle, Inc., Barlean's, Nutiva Inc, Celebes Coconut Corp, SC Global Coco Products, Inc., Viva Naturals and Source Naturals, Inc.
- The players are adopting key strategies such as collaboration, and geographical expansion where the potential opportunity for Organic Virgin Coconut Oil extraction is added in the company’s capacity.
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