Organic Virgin Coconut Oil Market Global Information by Application (Food & Beverages, Personal Care Products, Health Care Products) and Region (America, Africa, Asia Pacific and Rest of World) forecast till 2022
pune, India - September 4, 2019 /MarketersMedia/ —
Market Overview
Organic Virgin Coconut Oil is defined as a certified virgin coconut oil that is produced by traditional means without using any fertilizers or pesticides. A new report on the global organic virgin coconut oil market, published by Market Research Future (MRFR), infers that this market could notice a surge at 10.98% CAGR between 2016 and 2022. In terms of value, the market can be worth USD 1.28 bn by the end of the forecast period.
The most crucial market drivers for the global organic virgin coconut oil market growth are rising demand for functional food oils higher shelf-life and increasing demand for personal care products. Other market drivers contributing to the market growth include rising health consciousness and increasing awareness about organic as well as natural food ingredients among the consumers. However, poor productivity and limited access to quality organic planting material can restrain market growth. Challenges that can further slowdown the market growth are high prices of oil, high cost of production as well as refining, and concerns regarding sanitation in the processing area.
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Key Players
Big players in the global Organic Virgin Coconut Oil Market include
• Celebes Coconut Corporation (the Philippines),
• Earth Born Co. Ltd. (Thailand),
• Farm Direct Coconuts (USA),
• Greenville AGRO Corporation (the Philippines),
• NUTIVA, Inc. (USA), Parker Biotech Private Ltd. (India)
• Vita Coco (USA)
Latest Industry News
Marico set to foray into organic food space by launching a new brand called Coco Soul. Under the brand name Coco Soul, Marico will launch a range of healthy coconut-based food products and a range of organic, cold-pressed virgin coconut edible oils. 22 MAR 2019
Market Segmentation
The global organic virgin coconut oil market segmentation is based on application. MRFR’s take on the market explores various facets of the market in-depth.
The application-based segmentation of this market covers food & beverages, health care products, personal care products, and others. During the forecast period, the personal care products segment is expected to control the lion's share in the global market, which is 45%. The main reason for the higher growth of personal care products segment compared to other segments includes, diverse application of coconut oil in skin and hair care products as organic virgin coconut oil has higher nutritional value compared to conventional coconut oil.
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Regional Segmentation
A geographical outlining of the global organic virgin coconut oil market covers the Asia Pacific, The Americas (North America & South America), Africa, and Rest of the World (RoW).
The Asia Pacific region can dominate the maximum global market during the forecast period, with more than 90% of the market share. Its market worth is more than USD 660 Mn. The production, as well as consumption of organic virgin coconut oil, is high in this region. Some of the key market players have operations in the Asia Pacific region. The major country-specific markets in this region are Bangladesh, Cambodia, India, Indonesia, Malaysia, Pakistan, Philippines, Sri Lanka, Thailand, and Vietnam.
In the Americas region, the production of organic virgin coconut oil can grow during the forecast period at 15.33% CAGR due to the rising production capacity of organic virgin coconut oil in Mexico and Venezuela. In North America, the USA is an important country-specific market as most of the important market players are based in this country. However, their investments and manufacturing operations are concentrated in South America. Other important country-specific markets in this region are Brazil, Ecuador, El Salvador, Guyana, and Suriname. As a market for organic virgin coconut oil, Europe is very limited as a consumer market, that also to powerful economies in this region.
In Africa, the production of organic virgin coconut oil is high due to the availability of natural resources. In this region, the important country-specific markets are Benin, Cote d'Ivoire, Comoros, Ghana, Guinea, Guinea-Bissau, Kenya, Madagascar, Mozambique, Nigeria, Togo, and Tanzania.
The RoW segment covers Dominican Republic, Fiji, French Polynesia, Jamaica, Kiribati, Micronesia, Papua New Guinea, Samoa, Solomon Islands, Tonga, Trinidad & Tobago, and Vanuatu.
Contact Info:
Name: Abhishek
Email: Send Email
Organization: market research future
Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India
Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/organic-virgin-coconut-oil-market-4498
Source: MarketersMedia
Release ID: 88915188
