Coconut Oil Market by Category (Organic, Conventional) and Application (Food & Beverages, Pharmaceuticals, Personal Care, Others): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 5.7 billion mark in 2022 and is expected to hit US$ 8.5 billion by 2030, recording a CAGR of 5.2% during the forecast period.

Rising adoption in various industries is one of the major factors accelerating the market growth.

Coconut oil is a major hair care product that encourages hair health, lustre, and growth, it is frequently used as hair oil. Due to its antiaging, anti-bacterial, antioxidant, and anti-inflammatory effects, it is used for body massage. Moreover, coconut oil is also used for cooking in many Asian countries. Coconut oil promotes healthy cholesterol level in the body, lowering the risk of heart disease because it contains relatively low level of unsaturated fatty acids. Additionally, it has many uses in the food industry as a dietary fat in the production of filled milk, newborn milk powder, ice cream, confectionary and bakery products. Furthermore, the growing usage of coconut oil in the culinary, chemicals, cosmetics, and personal care industries is anticipated to increase the demand for coconut oil in coming years.

Within the report, the market is segmented into category, application, and geography. By category, the market is bifurcated into organic and conventional. By application, the market is categorized into food & beverages, pharmaceuticals, cosmetics & personal care, Others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

The demand for organic coconut oil is increasing in the food and beverage industry

Owing to the numerous health benefits of coconut oil, it is widely employed in a variety of ready-to-eat snacks, which will drive demand and growth in the coconut oil market in the future years. Furthermore, coconut oil is a preferable option for baking butter or oil because it is less expensive and helps the baked product taste lighter. Furthermore, the use of coconut oil in food goods is highly beneficial in obtaining quick energy, which is driving up demand for coconut oil among food makers.  

Rising demand for coconut oil in the cosmetics and personal care industries

Coconut oil is beneficial for use in cosmetics as a moisturizer, and in soaps and is used as a remedy for treating illnesses and infections, healing wounds, promoting the growth of strong bones, and protecting the skin against blemishes. It also exhibits smoothing properties and textures when used in body butter, soaps, and salves. It offers excellent emollience to dry, itchy skin, and hair, remaining suitable for sensitive, inflamed, and irritated skin without clogging the pores of the skin. It also soothes sunburns and blisters, removes dead skin, and promotes the growth of newer and healthier skin. Due to these characteristics, coconut oil is increasingly used in cosmeceutical and personal care products. Thus, the demand for coconut oil is increased among manufacturers and further expected to drive the growth of market.

Recent strategic developments in the processed fruit and vegetable market

The coconut oil market has undergone several significant developments, and a few of these have been mentioned below:

• In February 2020, Bunge Limited launched a new portfolio of products to help replicate the taste, texture, and cooking experience of meat. This portfolio includes specialty fat fractions, shortenings, flakes, and emulsifiers that leverage high-stability sunflower, canola, coconut, and palm fruit oils
• In February 2020, QNET introduced a new health and wellness product named Nutriplus Virgin Coconut Oil (VCO) to their lineup. Cold-pressed, unrefined, pure, and organically extracted from the fresh milk of high-quality organic coconuts from Kerala, the premium Virgin Coconut oil.

The coconut oil market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Greenville Agro Corporation, Royce Food Corporation, Cargill Incorporated, ADM, and Bunge Limited are among the prominent players operating in the market.

Target audience for the report:

• Raw material providers
• Coconut oil manufacturer
• Coconut oil -related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policymakers
• Venture capitalists, private equity firms, and start-up companies
• Application industry of coconut oil market
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Category

• Organic
• Conventional

• Application:

• Food & Beverages
• Pharmaceutical
• Cosmetics & Personal care
• Others

• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • Bunge Limited
  • Cargill, Incorporated
  • ADM
  • Greenville Agro Corporation
  • Royce Food Corporation

Companies profiled
- Bunge Limited
 - Cargill, Incorporated
- ADM
- Greenville Agro Corporation
- Royce Food Corporation