The global Coconut Oil market stood at approximately 2.1 million tonnes in 2023 and is anticipated to grow at a CAGR of 6.1% during the forecast period until 2034. Indonesia and India are the largest producers and suppliers of Coconut Oil across the globe. Coconut oil is a popular cooking oil choice due to its high smoke point, ideal for frying. It is commonly used in bakery products, non-dairy milks, and processed snacks for its flavour, texture, and stability. In plant-based diets, coconut milk derived from coconut oil serves as a common ingredient in non-dairy creamers for coffee and other beverages. Due to its low levels of unsaturated fatty acids, it aids in maintaining favourable cholesterol levels, thereby reducing the risk of heart diseases.
Coconut oil, renowned for its versatility and numerous beneficial properties, finds widespread use across various domains. In culinary applications, it serves as a healthier alternative to traditional cooking oils, boasting a high smoke point suitable for frying, sautéing, and baking. Beyond the kitchen, coconut oil emerges as a staple in skincare regimens, cherished for its natural moisturizing abilities that nourish and hydrate the skin, making it particularly advantageous for combatting dryness. Similarly, its hair-conditioning effect makes it a favoured ingredient in hair masks and treatments, promoting hair growth and strength. Additionally, coconut oil doubles as a makeup remover, gently and effectively dissolving stubborn cosmetics while nourishing the skin. Its antimicrobial properties render it a prime candidate for the ancient practice of oil pulling, enhancing oral hygiene by reducing plaque and bacteria in the mouth. Further, coconut oil's soothing qualities extend to massages, where its application relaxes muscles and replenishes the skin's moisture barrier. As a versatile ingredient, it finds its way into homemade skincare and hair care concoctions, ranging from scrubs to lip balms, allowing for personalized self-care rituals. However, caution is warranted when using coconut oil as a lubricant due to its incompatibility with latex condoms. Overall, the multifaceted nature of coconut oil lends itself to a myriad of applications, making it a cherished asset in both culinary and personal care industries.
The growth of the coconut oil market can be attributed to several key factors. Firstly, increasing consumer awareness of the health benefits associated with coconut oil, including its potential positive effects on heart health, metabolism, and skin, has driven its popularity among health-conscious individuals seeking natural remedies. Secondly, the expansion of coconut oil's applications in the food industry, where it is widely used in cooking, baking, and various cuisines, has further boosted demand, driven by its distinctive flavour profile and perceived health benefits. Additionally, the global trend towards natural and organic products has led to a growing preference for coconut oil as a healthier alternative to certain cooking oils, aligning with consumers' desire for minimally processed options. Furthermore, the cosmetic and personal care industry has contributed significantly to market growth by incorporating coconut oil into beauty, haircare, and skincare products, capitalizing on its moisturizing and nourishing properties. Finally, the introduction of a diverse range of coconut oil-based products by manufacturers and suppliers, including organic and virgin coconut oil variants, has expanded consumer choices and fuelled market growth through product diversification. Collectively, these factors underscore the multifaceted drivers behind the expansion of the coconut oil market, positioning it as a versatile and sought-after ingredient in various industries worldwide. The global Coconut Oil market is likely to reach approximately 4 million tonnes in 2034.
Geographically, the Asia Pacific region holds a significant position as the largest consumer of Coconut Oil, a trend projected to continue in the foreseeable future owing to several pivotal factors. Firstly, the region's cultural and culinary traditions heavily incorporate coconut oil into various cuisines, contributing to its widespread consumption. Additionally, the tropical climate prevalent in many Asian countries facilitates coconut cultivation, ensuring a steady supply of raw materials for oil production. Moreover, the rising population and expanding middle class in countries like India, Indonesia, and the Philippines drive demand for cooking oils, with coconut oil often preferred for its flavour and perceived health benefits. Furthermore, the growing popularity of natural and organic products aligns with coconut oil's status as a minimally processed, plant-based option, further bolstering its consumption in the region. Beyond culinary uses, coconut oil finds extensive applications in the cosmetics, personal care, and pharmaceutical industries, leveraging its moisturizing and antioxidant properties. As these sectors continue to grow, driven by increasing urbanization and rising disposable incomes, demand for coconut oil is expected to remain robust.
Based on the end-user industry, the global Coconut Oil market is divided into Personal Care & Cosmetics, Food & Beverages, and Others. Among these, Food & Beverages is the major segment and held about 63% of the global Coconut Oil market in 2023 and is anticipated to prevail the same trend in the forthcoming years.
Major players in the Global Coconut Oil market are Nutiva Inc., Forest Essentials, MaxCare, Barlean's Organic Oils, LLC, Nature's Way Brands, Spectrum Organic Products, LLC, Celebes Coconut Corporation, Universal Corporation, Healthy Traditions, Garden of Life, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Coconut Oil which covers production, demand and supply of Coconut Oil market in the globe.
• To analyse and forecast the market size of Coconut Oil
• To classify and forecast Global Coconut Oil market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Coconut Oil market in the globe.
To extract data for Global Coconut Oil market, primary research surveys were conducted with Coconut Oil manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Coconut Oil market over the coming years.
ChemAnalyst calculated Coconut Oil demand across the globe by analyzing the volume of Coconut Oil consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Coconut Oil manufacturers and other stakeholders
• Organizations, forums and alliances related to Coconut Oil distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Coconut Oil manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Coconut Oil market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
2.1 million tonnes
Market size Volume in 2034
4 million tonnes
Growth Rate
CAGR of 6.1% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Coconut Oil market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Coconut Oil.
3. Capacity By Location
To better understand the regional supply of Coconut Oil by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company
Study the historical annual production of Coconut Oil by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Personal Care & Cosmetics, Food & Beverages, and Others) are creating a market and the forecast for the growth of the Coconut Oil market.
7. Demand by Region
Analyzing the change in demand of Coconut Oil in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Coconut Oil. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Coconut Oil.
10. Company Share
Figure out what proportion of the market share of Coconut Oil is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Coconut Oil.
12. Country-wise Export
Get details about quantity of Coconut Oil exported by major countries.
13. Country-wise Import
Get details about quantity of Coconut Oil imported by major countries.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Coconut Oil in terms of volume in 2023?
Ans:
The global market size of Coconut Oil has reached approximately 2.1 million tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Coconut Oil?
Ans:
The Personal Care & Cosmetics industry is the leading end-user industry of Coconut Oil globally.
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