The Virgin Coconut Oil Global Market Report 2023, provides comprehensive information on the virgin coconut oil market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global virgin coconut oil market is expected to grow from $2.06 billion in 2022 to $2.25 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The virgin coconut oil market is expected to reach $3.14 billion in 2027 at a CAGR of 8.7%.
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Product innovation is a key trend gaining popularity in the virgin coconut oil market. Companies operating in the virgin coconut oil market are implementing innovative products to sustain their position in the market. For instance, in March 2020, Dr. Bronner’s Magic Soaps, a US-based manufacturer of organic personal care products and soaps, launched Regenerative organic certified coconut oil. It is the company’s first item to be Regenerative organic certified (ROC) available in white and whole kernel versions online and wherever organic products are sold in stores around the country. It is expeller-pressed and has a rich flavor and nutty aroma.
The virgin coconut oil market is segmented:
1) By Type: Organic, Conventional
2) By Distribution Channels: Offline, Online
3) By Application: Direct Consumption, Indirect Consumption, Food And Beverages, Cosmetics And Personal Care, Pharmaceuticals
Asia-Pacific was the largest region in the virgin coconut oil market in 2022.
The table of contents in TBRC’s virgin coconut oil market report includes:
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Top Major Players
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