A Million-Dollar Opportunity to Emerge in Coconut Oil Market by 2022
Posted by Arslan on February 1st, 2019
A recent publication by Fact.MR titled “Coconut Oil Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022” elaborates on the oscillating landscape of the coconut oil market. The coconut oil market has been witnessing rapid adoption across multiple industries such as foodservice, food processor, and personal care, backed by consistent reinforcement of benefits associated with its use.
Rising demand for coconut oil is poised to translate into significant market value worth US$ 3,141 Mn by the end of the assessment period.
According to the report, revenue capture of processed coconut oil is foreseen to remain dominant on the back of its rich nutritional profile. The lucrativeness of processed variant can be drawn from the fact that is predicted to account for around 2/3rd of the revenue share of coconut oil market. Moreover, processed coconut oil is foreseen to witness fast-paced expansion in the marketplace at a CAGR of 4.1% over the forecast timespan. On the contrary, virgin oil is anticipated to steadily gain grounds in the coconut oil market on account of increasing consumption of omega fatty acid. The report highlights virgin oil segment as a niche in the industry landscape, which can be leveraged by manufacturers with necessary customizations to meet diverse consumer needs.
The report also elaborates on the dwindling scenario of supply in the coconut oil market. The incompetency of producers to keep up with the exponential demand of coconut oil has been prominently analyzed in the study, which has led to unexpected price hikes. The report also emphasizes on product innovations to be the instrumental for proliferation in the coconut oil market. For instance- introduction of varieties such as turmeric infused coconut oil enables market players to tap into new customer segments. The study also reinforces on the sales of coconut oil market getting notched up in the coming years on the back of prevailing customer trust and loyalty.
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Supply and Production Instabilities to be an Achilles’ heel of Coconut Oil Market
Coconut oil has witnessed considerable demand in the last decade on account of its unmatched versatility. However, supply inconsistencies and sluggish rate of production have raised up coconut oil prices to a new high. According to sources, the rising demand for coconut-based variants such as coconut sugar and coconut water have skyrocketed in the past few years, exhausting raw materials used for oil manufacture.
The competitive landscape in the coconut oil market report features key players operating in the industry. The key players of coconut oil market have been featured based on their revenue shares, key differential strategies, and several other factors. The report features key players operating in the coconut oil market such as Adani Wilmar, Ruchi Soya Industries, Associated British Foods, Cargill Inc., Archer Daniels Midland Company, Bunge Limited, Adams Group Inc., and American Vegetable Oil Inc.
Key players in the coconut oil market are introducing new varieties such as turmeric-infused coconut oil to tap into prime opportunities. In addition to that, innovative products such as NatureWax Coconut 1 and NatureWax Coconut 2 made with coconut oil are also diversifying dynamics of coconut oil market.
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About the AuthorArslan
Joined: December 18th, 2017
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