The global organic virgin coconut oil market was valued at USD 514.8 Million in 2019 and is projected to reach USD 814.2 Million by 2027 expanding at a CAGR of 6.2% during the forecast period, 2020-2027. Increasing awareness regarding healthy eating habits and growing preference for organic food beverage products are projected to boost the expansion of the global market. Additionally, high prevalence of obesity is a boosting the consumption of organic virgin coconut oil. The oil contains healthy fatty acids that help burn the stored fat in the human body, resulting in weight loss. Rising urbanization and industrialization are boosting wealth, as people are investing more in premium products and increasing the adoption of organic virgin coconut oil, thereby propelling the market. Urbanization has a significant impact on the supply chain of any product or commodity which brings about substantial developments, which is expected to drive the demand for organic virgin coconut oil.
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Organic virgin coconut oil (VCO), when compared to refined, bleached, and deodorized (RBD) coconut oil looks similar in the liquid form. However, in the solid form, organic VCO is pure white application; whereas RBD coconut oil ranges from white to light yellow color. In terms of composition, both do not differ much, although organic VCO includes some polyphenols, vitamins, and minerals that contributes toward the fragrance, taste, goodness of the oil than its counterpart. Growing consumption of organic virgin coconut oil is attributed with several health and beauty benefits associated with it. The oil is widely used in a range of things products used for cooking, cleaning, and moisturizing. It is used to improve the health and condition of their hair. The use of virgin coconut oil for hair helps reduce of protein loss from the hair, thus improving its health. The oil is predominantly from a medium-chain fatty acid called lauric acid, which gives the oil a straight structure and increases absorption into the hair shaft. Growing awareness regarding these benefits drives the market. Other benefits such as injection of good cholesterols and weight loss are expected to boost the market. The organic virgin coconut oil is also to combat bacterial and viral infections. The oil deactivates the viruses and prevents it from further growth.
Based on regions, the global organic virgin coconut oil market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted market share of 68.6% in 2019 due to the presence of a large number of prominent players and local players in the region. Moreover, rising urbanization and increasing disposable income are expected to fuel the market in the region. Additionally, increasing awareness in the region regarding organic eating is expected to increase the demand for organic virgin coconut oil.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Organic Virgin Coconut Oil Market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Organic Virgin Coconut Oil Market Performance.