Organic Virgin Coconut Oil Market Overview
The global organic virgin coconut oil market is expected to exhibit a solid 7.36 % CAGR over the forecast period from 2023 to 2032 and is expected to reach a valuation of USD 3.69 billion by 2032. The report presents a detailed look at the global organic virgin coconut oil market’s growth trajectory and presents a detailed forecast for the market over the forecast period. The major drivers and restraints affecting the global organic virgin coconut oil market are assessed in detail in the report. Leading players in the global market are also profiled in the report.
The organic virgin coconut oil market is mainly driven by the growing awareness about the benefits of coconut oil. Virgin coconut oil is extracted from coconuts by expeller pressing of dry coconut. This process allows for the presence of more antioxidants, vitamins, and minerals, as well as proteins, in the coconut oil. It also preserves an agreeable smell and taste in the oil. This is the major driver for the global virgin coconut oil market. Coconut oil contains beneficial antioxidants and has several other health benefits, leading to a growing demand for coconut oil. The growing awareness about the benefits of coconut oil is likely to be a major driver for the global organic virgin coconut oil market over the forecast period.
The growing demand for organic produce is a major driver for the global organic virgin coconut oil market. Organic produce is grown without the use of chemical fertilizers and pesticides and is thus considered to be healthier than conventional produce. Increasing health awareness about the benefits of organic produce and the increasing demand for organic produce is likely to remain a key driver for the global organic virgin coconut oil market over the forecast period.
Competitive Leaderboard:
The global organic virgin coconut oil key market companies include Barlean’s, Hain Celestial Group, Nutiva Inc., Carrington Farms, La Tourangelle, Celebes Coconut Corporation, Greenville Agro Corporation, SC Global Coco Products Inc., Naturoca, Farmerindia, Viva Naturals, Garden of Life LLC, and Jarrow Formulas Inc. The growth of the organized retail sector in emerging economies such as China and India is likely to be a major driver for the organic virgin coconut oil market over the forecast period, with leading players in the market expected to expand their share in emerging markets in the coming years.
Regional Analysis:
Asia Pacific is likely to retain a dominant share in the global organic virgin coconut oil market over the forecast period due to the tradition of the use of coconut oil in this region, which has driven the demand for organic virgin coconut oil in the region. Coconuts grow freely in Asia Pacific due to the temperate environment in the region, leading to widespread adoption of coconut oil in culinary as well as personal care applications. Asia Pacific is also likely to be the fastest growing regional market for organic virgin coconut oil due to the growing demand for personal care products containing coconut oil.
Segmentation:
The global organic virgin coconut oil industry is segmented on the basis of packaging type, distribution channel, and region.
By packaging type, the global organic virgin coconut oil market is segmented into bottles and jars, pouches, and others. The bottles and jars segment holds the largest share in the global organic virgin coconut oil market and is likely to remain the leading revenue generator over the forecast period due to the convenience of bottles and jars in storing liquids.
By distribution channel, the global organic virgin coconut oil market is segmented into store-based and non-store-based. The store-based segment is further subsegmented into supermarkets and hypermarkets, convenience stores, and others. The store-based segment holds the largest share in the global organic virgin coconut oil market due to the widespread presence of store infrastructure in the world.
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