Virgin Coconut Oil Market Size, Share & Trends Analysis Report By Type (Organic, Conventional), By Packaging (Metal Cans, Pouches), By End-use Application, By Region, And Segment Forecasts, 2023 - 2030

Virgin Coconut Oil Market Size, Share & Trends Analysis Report By Type (Organic, Conventional), By Packaging (Metal Cans, Pouches), By End-use Application, By Region, And Segment Forecasts, 2023 - 2030

Virgin Coconut Oil Market Growth & Trends

The global virgin coconut oil market size is expected to reach USD 1,606.1 million by 2030, expanding at a CAGR of 8.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market expansion is anticipated to be fueled by the rising health awareness among consumers, and the increasing consumer expenditure on functional foods and beverages are key drivers of this growth.

The market has experienced notable expansion due to increased health consciousness among consumers. Virgin Coconut Oil (VCO) has gained prominence for its numerous health benefits, leading to its wider adoption in medical consumables and pharmaceutical products aimed at maintaining well-being. Enriched with beneficial fatty acids, vitamins, minerals, and antioxidants, VCO has garnered attention as a sought-after nutraceutical ingredient on a global scale. Its popularity is notably rising among health-conscious individuals who appreciate its positive impact. Moreover, the pharmaceutical sector utilizes VCO, particularly among diabetes patients, aiding in efficient blood sugar utilization. The significant prevalence of diabetes, as indicated by the International Diabetes Federation (IDF), underscores the immense growth potential for the VCO industry.

As the demand for functional foods increases, VCO has emerged as a preferred option, characterized by its delightful flavor and mild aroma. Its integration into popular dietary trends like keto and paleo diets further cements its position. Consumers, now more informed about proper nutrition and physical activity, make informed choices about their food. Opting for healthful cooking oil, such as VCO, promises added benefits. Consequently, it has earned recognition as a functional oil among discerning consumers.

Virgin Coconut Oil Market Report Highlights

• Based on type, the organic virgin coconut oil segment held the largest share of 65.9% in 2022. The clean label movement advocates for product transparency, emphasizing simple and recognizable ingredients. Organic virgin coconut oil fits this criterion, as it is produced without synthetic pesticides, GMOs, or artificial additives. As consumers increasingly seek products with fewer and more recognizable ingredients, the demand for organic options like virgin coconut oil grows
• Based on packaging, the plastic bottles segment held the largest share of 44.0% in 2022.Clear plastic bottles allow consumers to see the product inside, which can significantly influence their purchasing decisions. This transparency enables consumers to assess the quality and color of the oil before buying, enhancing their confidence in the product
• Based on end-use application, the B2C segment is expected to grow with at the fastest CAGR of 9.2% over the forecast period.Virgin coconut oil is also widely used in skincare, haircare, and personal care routines due to its moisturizing and nourishing properties. As consumers seek natural and multipurpose solutions for their beauty needs, the demand for virgin coconut oil as an ingredient in personal care products rises
• Europe is expected to grow at the fastest CAGR of 9.4% during the forecast period. Europe's focus on natural and sustainable beauty and personal care products has created a demand for ingredients like virgin coconut oil. Its moisturizing and skin-nourishing properties make it a popular choice for cosmetics and skincare formulations

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