Virgin Coconut Oil Market Introduction and Overview
According to SPER Market Research, the Global Virgin Coconut Oil Market is estimated to reach USD 2.16 billion by 2033 with a CAGR of 8.92%.
The report includes an in-depth analysis of the Global Virgin Coconut Oil Market, including market size and trends, product mix, Applications, and supplier analysis. Coconut oil is a major source of fat in food and is used extensively in baking, cooking, and confections. Virgin coconut oil (VCO) and refined, bleached, and deodorised coconut oil (RBD) are the two primary varieties. While RBD is extracted from dried meat and refined for edibleness, VCO is extracted directly from fresh coconut meat. Differentiated by its unique extraction method, VCO emphasises its raw, unadulterated state in contrast to RBD, which is refined from copra or dried beef.
- February 2022: "Virgin Coconut Oil" was introduced by Dabur India, an Ayurvedic and Natural Health Care Company in India. This product is the outcome of extensive study on demographics, future trend forecasts, and customer insights. Cold press technology is used to extract the oil, preserving the natural goodness, vital nutrients, aromatic scent, and true taste of coconuts.
- January 2021: To assist avoid oral health issues, researchers at the International Islamic University of Malaysia created a mouthwash and tooth varnish using virgin coconut oil. The product is designed to be a safe, all-natural substitute for chemical mouthwash that works for all age groups..
Market Opportunities and Challenges
The increase in the market demand for virgin coconut oil can be ascribed to changing societal norms and customer preferences. One major motivator is customers' growing health consciousness, which encourages them to make healthier food choices. Furthermore, the growing consumer spending on functional foods and drinks has supported the food industry's growth in coconut oil. Food goods using virgin coconut oil continue to appeal to people as they prioritise their health and ethical concerns.
The market for virgin coconut oil is witnessing impressive growth, propelled by a convergence of factors reflecting current consumer trends. A key driver is the growing awareness of the health benefits associated with virgin coconut oil, positioning it as a wholesome dietary option. The contemporary preference for functional foods, offering additional health advantages, particularly aligns with the oil's richness in medium-chain triglycerides (MCTs), potentially providing cognitive and energy-related benefits. The rise of vegan and plant-based diets further contributes to the market surge, as virgin coconut oil's adaptability in vegan recipes meets consumer preferences for ethical and eco-conscious choices.
However, the primary reason preventing the market from expanding is the restricted production of coconuts used to obtain virgin oil. Further limiting the market's expansion are the release of additional goods and the availability of virgin coconut oil alternatives. However, a few key constraints impeding the market's growth include consumers' negative perceptions of regular coconut due to its high content of unsaturated fat and their lack of knowledge about the advantages of virgin coconut oil.
Market Competitive Landscape
Within the virgin coconut oil sector, companies are gradually introducing goods designed to improve the ease of use and appeal of meal options. There are numerous rivals in the edible oil industry, making the market extremely competitive. These companies are highly sensitive to the preferences of customers in their local markets and are developing a wide range of products to meet the needs of a wide range of customers. The major players in the Global Virgin Coconut Oil Market include: Barlean's Organic Oils, LLC, Celebes Coconut Corporation, Forest Essentials, Garden of Life, Healthy Traditions, MaxCare, Nature's Way Brands, Nutiva Inc., SPECTRUM ORGANIC PRODUCTS, LLC, Universal Corporation, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By End-User, By Packaging
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Barlean's Organic Oils, LLC, Celebes Coconut Corporation, Forest Essentials, Garden of Life, Healthy Traditions, MaxCare, Nature's Way Brands, Nutiva Inc., SPECTRUM ORGANIC PRODUCTS, LLC, Universal Corporation, Others |
COVID-19 Impact on Global Virgin Coconut Oil Market
The virgin coconut oil industry underwent substantial changes due to the COVID-19 pandemic. Initially, disruptions in the global supply chain and shifts in consumer behaviour posed challenges to market stability. Economic uncertainties led to reduced spending on discretionary items like specialty foods. Despite these difficulties, positive trends emerged. The pandemic's focus on health prompted increased interest in wellness, including dietary supplements like virgin coconut oil. Home cooking and self-care practices rose during lockdowns, boosting the oil's popularity for culinary and personal care purposes. The transition to online shopping improved consumer access, and the emphasis on local sourcing aligned with the growing demand for immune-supportive functional foods.
Key Target Audience:
- Beauty and Skincare Enthusiasts
- Fitness and Athletes
- Health-conscious Consumers
- Nutrition Enthusiasts
- Specialized Diets
- Wellness and Spa Industry
- Others
Our in-depth analysis of the Virgin Coconut Oil Market includes the following segments:
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By Type:
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Conventional
Organic
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By End-User:
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B2B
B2C
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By Packaging:
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Metal Cans
Plastic Bottles
Pouches
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Key Topics Covered in the Report:
- Global Virgin Coconut Oil Market Size (FY’2023-FY’2033)
- Overview of Global Virgin Coconut Oil Market
- Segmentation of Global Virgin Coconut Oil Market By Type (Conventional, Organic)
- Segmentation of Global Virgin Coconut Oil Market By End-User (B2B, B2C)
- Segmentation of Global Virgin Coconut Oil Market By Packaging (Metal Cans, Plastic Bottles, Pouches)
- Statistical Snap of Global Virgin Coconut Oil Market
- Expansion Analysis of Global Virgin Coconut Oil Market
- Problems and Obstacles in Global Virgin Coconut Oil Market
- Competitive Landscape in the Global Virgin Coconut Oil Market
- Impact of COVID-19 and Demonetization on Global Virgin Coconut Oil Market
- Details on Current Investment in Global Virgin Coconut Oil Market
- Competitive Analysis of Global Virgin Coconut Oil Market
- Prominent Players in the Global Virgin Coconut Oil Market
- SWOT Analysis of Global Virgin Coconut Oil Market
- Global Virgin Coconut Oil Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data Source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Virgin Coconut Oil Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Virgin Coconut Oil Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Virgin Coconut Oil Market
7. Global Virgin Coconut Oil Market, By Type (USD Million)
7.1. Global Virgin Coconut Oil Market Value Share and Forecast, By Type, 2023-2033
7.2. Conventional
7.3. Organic
8. Global Virgin Coconut Oil Market, By End-User (USD Million)
8.1. Global Virgin Coconut Oil Market Value Share and Forecast, By End-User, 2023-2033
8.2. B2B
8.2.1. Food & Beverage
8.2.2. Institutional Purchase
8.2.3. Personal Care & Cosmetics
8.2.4. Pharmaceuticals
8.2.5. Others
8.3. B2C
8.3.1. Convenience Stores
8.3.2. Online
8.3.3. Supermarkets & Hypermarkets
8.3.4. Others
9. Global Virgin Coconut Oil Market, By Packaging (USD Million)
9.1. Global Virgin Coconut Oil Market Value Share and Forecast, By Packaging, 2023-2033
9.2. Metal Cans
9.3. Plastic Bottles
9.4. Pouches
10. Global Virgin Coconut Oil Market Forecast, 2019-2033 (USD Million)
10.1. Global Virgin Coconut Oil Market Size and Market Share
11. Global Virgin Coconut Oil Market, By Type, 2019-2033 (USD Million)
11.1. Global Virgin Coconut Oil Market Size and Market Share By Type (2019-2026)
11.2. Global Virgin Coconut Oil Market Size and Market Share By Type (2027-2033)
12. Global Virgin Coconut Oil Market, By End-User, 2019-2033 (USD Million)
12.1. Global Virgin Coconut Oil Market Size and Market Share By End-User (2019-2026)
12.2. Global Virgin Coconut Oil Market Size and Market Share By End-User (2027-2033)
13. Global Virgin Coconut Oil Market, By Packaging, 2019-2033 (USD Million)
13.1. Global Virgin Coconut Oil Market Size and Market Share By Packaging (2019-2026)
13.2. Global Virgin Coconut Oil Market Size and Market Share By Packaging (2027-2033)
14. Global Virgin Coconut Oil Market, By Region, 2019-2033 (USD Million)
14.1. Global Virgin Coconut Oil Market Size and Market Share By Region (2019-2026)
14.2. Global Virgin Coconut Oil Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Barlean's Organic Oils, LLC
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Celebes Coconut Corporation
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Forest Essentials
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Garden of Life
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Healthy Traditions
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. MaxCare
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Nature's Way Brands
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Nutiva Inc.
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. SPECTRUM ORGANIC PRODUCTS, LLC
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Universal Corporation
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
