Coconut Oil Market Size, Share & Trends Analysis By Source, By Product Types, By Nature, By Application, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Coconut Oil Market Size, Share & Trends Analysis By Source, By Product Types, By Nature, By Application, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global Coconut Oil market is projected to be worth USD 5498 million by 2030

According to SPER Market Research, the global coconut oil market estimated to reach USD 5498 million by 2030 with a CAGR of 4.8%. The growth of this market is due to the increase in the use of coconut oil in cosmeceutical. The major commercial product of coconut is Coconut oil. Coconut oil is used as a cooking fat, hair oil, body oil, and industrial oil. Refined coconut oil is used in the manufacture of biscuits, chocolates, confectionery, ice-creams, margarine and for the manufacture of pharmaceutical agents.

Impact of COVID-19 on the coconut oil Market

The food & beverage industry in total affected drastically, by the outbreak of COVID-19 pandemic. The import and export activities hampered due to impose of lockdowns by different countries lead to the interruption in the supply chain. Consumers are shifting toward products that are favourable for their health. This is expected to boost the demand for coconut oil, the demand for cosmetic products with organic natural ingredients is expanding, and this will further drive the coconut oil market.

Scope of the report:

Market size available for years

2019-2030

Base year considered

2021

Forecast period

2022-2030

Segments covered

By Source, By nature, BY product type, By application, and By region

Geographies covered

North America, Europe, Asia Pacific, and Rest of the World

Companies Covered

Adams Group, ADM, Aluan, Aromaax, International, Bo International, Bunge Limited, Cargill Incorporated, Celebes Coconut Corporation, CIIF OMG, Connoils LLC, Greenville Agro Corporation, Hancole, Jiangxi Planty Manor Health Industry Co., Ltd., Mangga Dua, Novel Nutrients Pvt. Ltd., Rmayra Naturals, Royce Food Corporation, Shree Western G & C Ind., Sun Bionaturals Private Ltd, Tantuco Enterprises Inc.Drivers: Increasing applications in cosmeceutical and personal care productsCoconut oil is use in cosmetics, as a moisturizer, and in soaps. Traditionally, coconut oil was used for treating illnesses and infections, promoting the growth of strong bones, healing wounds, and protecting the skin against. It has smoothing properties and textures so used in body butter, soaps, and salves. Coconut oil has excellent emollience to dry, itchy skin, and hair, suitable for sensitive, inflamed, and irritated skin.

Challenges: Irregularity in the supply of raw materials

Coconut oil is produced from copra and fresh coconut meat. Being a naturally produced fruit in farms, coconut production is prone to diseases and floods, which decrease production. This could negatively impact the supply of copra and fresh coconut meat required to produce coconut oil. Studies have proved that coconut oil increases blood cholesterol, including harmful LDL, triglycerides. Due to its cholesterol-raising effects were comparable to other saturated fats; the oil should not be viewed as a heart-healthy food and should be limited in the diet.

Opportunities: Potential application as bio fuel

Bio fuel has similar properties to conventional diesel fuel. Coconut oil exhaust contains far less harmful emissions than that of conventional diesel exhaust. In Pacific countries coconut oil is used in transport and electricity generation. The adaptation of biofuel produced from coconut oil in diverse countries presents abundant opportunities for the coconut oil market.

Global Coconut Oil Market, By Source:

Based on the type of source, Global Coconut Oil Market segmented as; Dry coconut, Wet coconut.

Global Coconut Oil Market, By Product Type:

Based on the product type, Global Coconut Oil Market segmented as; RBD, Virgin, Crude.

Global Coconut Oil Market, By Nature:

Based on the nature, Global Coconut Oil Market segmented as; Conventional, Organic

Global Coconut Oil Market, By Application:

Based on the application, Global Coconut Oil Market segmented as; Bakery & Confectionery, Beverages, Cosmetics & personal care products, Food & beverages, Nutritional products, Other applications, Other food & beverages, Pharmaceuticals, Snacks & Cereals.

Global Coconut Oil Market, By Region:

India is one of the largest producers of coconuts in the world. Asia Pacific’s growth is credited to the increasing demand for natural products with health benefits. Large-scale production of coconut in countries like Philippines and Indonesia supports the growth of the region.