Coconut Oil Market: Global Industry Analysis and Forecast (2024-2030) by Distribution Channel, Application, and Region

Coconut Oil Market Definition:

The wick, meat, and milk of the coconut palm fruit are used to make coconut oil. In warmer areas, it is white solid fat that melts at room temperatures of roughly 25°C (78°F). It's a clear, thin liquid oil during the summer. The cologne of unprocessed diversities is intensely significant of coconut. It is recycled as a cookery oil as well as in the production of cosmetics and cleansers. Coconut oil is made up of saturated, monounsaturated, and polyunsaturated fats in varying proportions. Nearly 12 g of saturated fat are found in the oil. This amounts to roughly 60% of the daily saturated fat consumption advised for humans. The Coconut Oil Market report's segment analysis is provided on the basis of application, distribution channel and region.

 

Increased knowledge of the different advantages of coconut oil versus synthetic alternatives has resulted as demand growth in coconut oil market during recent years. This can be ascribed to a rise in customer knowledge of the dangers of items containing harsh chemicals, petrochemicals, and preservatives. It has anti-ageing, antibacterial, antioxidant, and anti-inflammatory effects, thus it's also utilised for body massage.

 

 

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Coconut Oil Market Dynamics:

The market for coconut oil is growing due to an increase in health-conscious people's knowledge:

 

The coconut oil business is being boosted by increasing fattening awareness among health-conscious people. Coconut oil is popular among customers since it is high in fibre, helps with digestion, and aids in weight loss. Chocolate, vanilla, honey, and other flavours contribute to the market's growth. With this functionality, the company has an advantage in attracting customers. The availability of coconut oil products in an online store, which is convenient for the user, is a major element driving the coconut oil market forward.

 

Coconut oil is mostly used in food and beverage as a garnish for coffee cream, relinquish, and other items, which is propelling the industry forward. The sale of coconut oil in various retail stores is expanding every day, providing manufacturers with a lucrative future growth opportunity in the coconut oil market.

 

Due to its high levels of saturated fat, some health organisations advise limiting its use as food:

 

Coconut oil has a greater saturated fat content than butter which is (64% saturated fat), beef fat (40% saturated fat), or even lard (90% saturated fat). Too much-saturated fat in the diet is undesirable because it elevates levels of bad LDL cholesterol, which increases the risk of heart disease. Coconut oil is entirely made up of fat, with 80-90 % of it being saturated fat. It has a firm texture at cold or room temperatures as a result of this. Coconut oil contains numerous forms of saturated fatty acids, which are smaller molecules that makeup fat. This fattiness in the human body while consumption of this oil is hampering the growth of the coconut oil market.

 

The cosmetics and personal care industry's increasing demand is providing a big potential for the market:

 

In Europe, the cosmetics and personal care business has seen a surge in demand for coconut oil. Furthermore, demand for coconut oil is expected to rise as a result of rising urbanisation and a rise in customer desire for food with nutritional benefits. Coconut oil's emollient characteristics make it a popular ingredient in cosmetics for moisturising and softening skin and hair. Coconut oil is utilised in many anti-ageing skincare products and is reported to be useful in treating dandruff, dry and itchy scalp, dull hair, eczema, psoriasis, and dermatitis. This useful treatment for the product gives a lucrative growth opportunity for the coconut oil market.

 

The growth of the coconut oil market is being challenged by macroeconomic reasons such as the ban on the export of coconut:

 

The board of the Philippine Coconut Authority (PCA) has decided not to waive the prohibition on mature coconut exports as copra prices rise, to support the country's aim to boost value-adding operations for the commodity. Earlier, over 1,500 tonnes of mature coconuts were earmarked for export in various countries like Indonesia. To improve coconut output in the face of a serious scarcity, Sri Lanka's coconut development minister has forbidden the removal of coconut trees. These major factor is challenging the coconut oil market.

 

 

Coconut Oil Market Segment Analysis:

By Application, the market is segmented as Food Industry, Agriculture, Cosmetics and Personal Care Industry and Others. Food Industry Segment dominated the market with a 39.4% share in 2023. The coconut oil market is expected to rise due to rising health consciousness among consumers and increased knowledge of the benefits of coconut RBD oil during the forecast period. Some of the health benefits of coconut oil include improved blood circulation, reduced inflammation, increased immunity, increased energy, and a reduced chance of heart attack and stroke. Coconut RBD oil is widely distributed through supermarkets and convenience stores.

 

However, The Cosmetics and Personal Care segment is expected to grow at a CAGR of 3.5% through the forecast period. Coconut oil is a common ingredient in cosmetics for moisturising and softening skin and hair because of its emollient properties. Many anti-ageing skincare products contain coconut oil, which is said to help with dandruff, dry and itchy scalp, dull hair, eczema, psoriasis, and dermatitis. This factor is attributed to the growth of the cosmetics and personal care segment in the coconut oil market.

 

 

By Distribution Channel, the market is segmented as Convenience stores, Supermarkets, and E-Commerce. The Convenience Store segment dominated the market with a 35.4% share in 2023. The coconut oil market is seeing increased demand due to rising disposable income and the increased popularity of coconut jams and spreads. People have fewer preferences for supermarket stores since they are less effective when compared to other categories. The assortment of coconut oil items is restricted, and the store is open for long hours for the convenience of shoppers in this category.

 

However, The E-Commerce segment is expected to grow at a CAGR of 5.4% through the forecast period. As people are becoming more health-conscious, growing awareness of less connectivity is being introduced into the market. Consumer’s preferences are rapidly shifting to online stores. This category contains advanced commercial actions involving products and services. Rapid content resolution occurred in this category, which is also a driving factor for this segment.

 

Coconut Oil Market Regional Insights:

The Asia Pacific region dominated the coconut oil market with a 45.2% share in 2023. Due to reasons such as the huge presence of manufacturers, the presence of a tropical region, and the abundance of coconut trees in various countries such as India, Sri Lanka, and China, Asia-Pacific has the greatest market share. With the support of technological innovation, this region is predicted to grow at a large rate. Thailand is a big producer of coconut oil, with a market value of 165.23 million dollars. Due to the cheap availability of coconuts and the rising demand for the product, Indonesia is the world's second-largest producer.

 

However, The European region is expected to grow at a CAGR of 6.4% through the forecast period. Due to their rising usage in numerous food preparations such as bakery items, snacks, confectioneries, and ready-to-eat meals, the market for coconut oil is expected to rise at a large rate. In Europe, the cosmetics and personal care business has seen a surge in demand for coconut oil. Furthermore, demand for coconut oil is expected to rise as a result of rising urbanisation and a rise in customer desire for food with nutritional benefits. Coconut oil's specific blend of fatty acids may provide health benefits, such as promoting weight loss, heart health, and brain function.

 

The objective of the report is to present a comprehensive analysis of the Global Coconut Oil market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Coconut Oil market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Coconut Oil market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Coconut Oil market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Global Coconut Oil market. The report also analyses if the Global Coconut Oil market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few Players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Coconut Oil market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Coconut Oil market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the global market is aided by legal factors.

 

Coconut Oil Market Scope:

Coconut Oil Market
Market Size in 2023	USD 3.60 Bn.
Market Size in 2030	USD 5.90 Bn.
CAGR (2024-2030)	7.3%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Application Food Industry Agriculture Cosmetics and Personal Care Industry Others
	By Distribution Channel Convenience Store Supermarkets E-Commerce
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Coconut Oil Market Key Players: 

• Greenville Agro Corporation (Philippines)
• Samar Coco Products (Philippines)
• Primex Group (U.S)
• SC Global (Singapore)
• Phidco (Belvedere, Zimbabwe)
• PT.Indo Vegetable Oil (Indonesia)
• P.T. Harvard Cocopro (Indonesia)
• Naturoca (New York)
• PT SIMP (Indonesia)
• Sumatera Baru (India)
• KPK Oils and Proteins (India)
• Karshakabandhu Agritech (India)
• Kalpatharu Coconut (India)
• Prima Industries Limited (India)
• Kerafed (India)