The global organic virgin coconut oil market was valued at USD 514.8 Million in 2019 and is projected to reach USD 814.2 Million by 2027 expanding at a CAGR of 6.2% during the forecast period, 2020-2027. Increasing awareness regarding healthy eating habits and growing preference for organic food beverage products are projected to boost the expansion of the global market. Additionally, high prevalence of obesity is a boosting the consumption of organic virgin coconut oil. 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 (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 contributes toward the fragrance, taste, goodness of the oil than its counterpart.
Growing consumption of organic virgin coconut oil is attributed with 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 of 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. Growing awareness regarding these benefits drives the market. Other benefits such as injection of good cholesterols and weight loss are expected to boost the market. The organic virgin coconut oil is also to combat bacterial and viral infections. The oil deactivates the viruses and prevents it from further growth.
Several nations are eagerly adopting organic farming practices by promoting legislations and standards. This significantly boosts the popularity for 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 counters, 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.
In terms of extraction methods, 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 grow at a substantial pace owing to the high yield offering by the process as compared to cold extraction.
On the basis of applications, the organic virgin coconut oil market is bifurcated as 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 increasing use of the oil in several industries such as food & beverages, beauty & cosmetics, and pharmaceuticals.
Based on regions, 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 burn, 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.
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 is increasing the number of small-scale producers.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the global Organic Virgin Coconut Oil market volume for historical and forecast period 2016 to 2027 is provided in report.
According to this Growth Market Reports report, the market from Organic Virgin Coconut Oil is likely to register a CAGR of 6.2% during forecast period 2020-2027, with an anticipated valuation of USD 814.2 million by the end of the 2027.
In addition to market size (in USD Million), Market Volume (Thousand Tons), and Company Market Share (in % for base year 2019) and pricing analysis of Organic Virgin Coconut Oil market, short term and long term outlook for Organic Virgin Coconut Oil market is available in final report.
Increasing use of Organic Virgin Coconut Oil in various end-use industries, continuous rise in automotive industry, growing demand for Organic Virgin Coconut Oil is driving the market growth during forecast period.
Application in the food & beverages industry, pharmaceuticals development and cosmetics manufacturing is driving the Organic Virgin Coconut Oil market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to grow at year-on-year growth rate of 3.6 % between 2019 and 2020 owing to the negative impact of COVID 19 pandemic on the Organic Virgin Coconut Oil market. The shutdown of production activities, restrictions on transportation activities, and temporary decline in demand for Organic Virgin Coconut Oil are some of the prime reasons responsible for this market trend.
The base year considered for the global Organic Virgin Coconut Oil market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major players 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.
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