Virgin Coconut Oil Market Analysis & Trends - Industry Forecast to 2024
Posted by Robson Tolson on January 21st, 2020
According to TechSci Research Report, “Global Virgin Coconut Oil Market stood at $ 2.7 billion in 2018 and is projected to grow at a CAGR of over 9% during the forecast period to reach $ 4.7 billion by 2024, on the back of rising health consciousness among consumers and rising consumer expenditure on functional food and beverages. Increasing investments that are aiding market players to boost their production capabilities and cater to growing demand for coconut oil from consumers are expected to push global virgin coconut oil market during the forecast period.
Browse 118 Figures spread through 110 Pages and an in-depth TOC on “Global Virgin Coconut Oil Market"
Asia-Pacific dominates global virgin coconut oil market and is expected to remain the dominant region during the forecast period as well, backed by huge production of coconut in the region. Favorable climatic condition in the region is one of the key factors resulting in huge production of organic virgin coconut in the region. Store-based retail and internet retail are the two distribution channels in virgin coconut oil market. The store-based retail segment dominated the market in 2018 and is expected to continue to lead the market in coming years, owing to the rapid penetration of supermarket retail chains in developing economies. However, internet retail channel is likely to witness healthy growth over the next five years, backed by growing popularity of the e-commerce segment. Moreover, e-commerce and technology are transforming this category with new user experiences, where big brands and small start-ups alike are racing to embrace e-commerce, making this channel even stronger.
Asia-Pacific dominated global virgin coconut oil market in 2018 and is anticipated to maintain its dominating position during the forecast period as well, owing to huge production of coconut in the region. The region is also the largest exporter of coconut oil to other geographical regions. With growing global demand for virgin coconut oil, market players are finding it difficult to bridge the gap between high demand from consumers. Various governments in the region are extending technological support to the players to improve their production capabilities.
Objective of the Study:
Key Players :
Some of the leading players in global virgin coconut oil market are Sun Bio Naturals, Nutiva, Inc., NMK Holdings Private Limited, Greenville Agro Corporation, iTi Tropicals Inc., The Hain Celestial Group, Edward & Sons Trading Co, Barlean’s, Jax Coco and Naturoca.
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About the AuthorRobson Tolson
Joined: February 21st, 2017
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