Coconut Oil Market Statistics: 2030
The coconut oilmarket size was valued at $3,440.00 million in 2020 and is estimated to reach $7,390.20 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.
Coconut oil is majorly used as hair oil as its excellent care product promotes hair health, shine, and growth. It is also used for body massage as it possesses anti-aging, antibacterial, antioxidant, and anti-inflammatory properties. In addition, coconut oil is used for cooking in many Asian countries. As coconut oil has very low level of unsaturated fatty acids, it maintains good cholesterol levels in the body reducing the risk of heart diseases. It also finds wide-range of applications in the food industry as dietary fat in the preparation of filled milk, infant milk powder, ice-cream, and confectionery & bakery products. Furthermore, increasing use of the coconut oil in personal care, cosmetics, chemical and food industry are likely to boost the demand for coconut oil during the forecast period.
The raw material supply is one of the major parts in the value chain of the coconut oil market, where the key players and the vendors are facing the problems due to poor logistics, and restrictions on public movement in the affected countries across the globe, which can lead to supply disruptions. Thus, lack of raw material and labor in manufacturing units of the coconut oil was the considerably affected the coconut oil market in COVID-19 pandemic.
According to the coconut oil market analysis, the market segmented into product type, application, distribution channel, packaging, price point and region. On the basis of product type, the market is categorized into virgin coconut oil and coconut RBD oil. On the basis of application, the market is segmented into, food industry, agriculture, cosmetics and personal care industry, chemical industry and others. By distribution channel, market is categorized into, direct distribution, convenience stores, modern trade units, e-commerce and others. On the basis of packaging, the market is segmented into, bottle, jar, can, pouch, tanks and others. By price point, the market is segmented into mass and premium. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands and Rest of Europe), Asia-Pacific (China, India, Japan, Philippines, Malaysia, Indonesia, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
On the basis of product type,the coconut RBD oil segment was the highest contributor to the market, with $2,563.0 million in 2020, and is estimated to reach $5,139.1 million by 2030, at a CAGR of 4.5% during the forecast period. Increasing health conscious consumers and growing awareness regarding benefits of the coconut RBD oil are majorly attributing for the growth of the coconut oil market during the forecast period. Improve blood circulation, Reduce inflammation, Enhance immunity, and raise energy level, lower risk of heart attack and stroke are some of the health benefits of the coconut oil. Supermarket and conveniences stores are popular distribution channels for coconut RBD oil. Furthermore, growing use of coconut RBD oil in food industry, cosmetics and personal care industry is likely to contribute for the growth of the coconut oil market during the forecast period.
By Product Type
Coconut RBD Oil segment helds the major share of 74.5% in 2020
On the basis of application, the food industry segment was the highest contributor to the market, with $1,340.8 million in 2020, and is estimated to reach $2,678.6 million by 2030, at a CAGR of 4.5% during the forecast period. Coconut oil are widely consumed in food industries among other coconut products. Many Asian and European countries widely use coconut products in food and bakery industries. Rise in awareness about benefits and functional properties of coconut products including coconut oil is leads to increase in its demand in food industry across the globe. Consumers are preferring coconut RBD oil in household preparations. Coconut oil has low fat content as compare to other sourced oil, due to which their demand is growing rapidly in preparation of bakery products and confectioneries. Thus, growing hotel chains, restaurants, and fast food outlets and increasing use of coconut oil for food preparation is expected to contribute for the growth of the market during the forecast period.
By Application
Food industry segment helds the major share of 39.0% in 2020
According to the coconut oil market trends, on the basis of distribution channel, the e-commerce segment is growing at highest CAGR growth rate and is estimated to reach $1,126.00 million by 2030. E-commerce platform is becoming a popular medium for the purchase attributed to easy availability of products and the benefits provided by it such as the information about the benefits offered by the product, and the facility of home delivery to customers. Moreover, increase in penetration of various online portals in developed as well as developing regions and rise in number of offers or discounts attract a consumer base to purchase cooking oil through online channel. In addition, the online sales channel has become the key source of revenue for multiple companies owing to its key factor of increasing consumer reach. Thus, above mentioned factors favor the coconut oil market growth during the forecast period.
By Distribution Channel
Convenience stores segment helds the major share of 33.2% in 2020
On the basis of packaging, the bottle segment was the highest contributor to the market, with $1,077.5 million in 2020, and is estimated to reach $2,130.6 million by 2030, at a CAGR of 4.4% during the forecast period. Plastic bottles has gained major popularity in the coconut oil market due to its convenient use and handling and also several others factor such as strength, variation, and sizes. Plastic bottles were once regarded as the most popular and widely used form of packaging. They tend to be one the most environmentally friendly and reusable options. Moreover, convenience among consumer with the usage of plastic bottles has become one of the market trends in the coconut oil market. There are numerous ways to keep plastic bottles around and reuse them; thereby, making them a beneficial choice for the environment.
By Packaging
Bottle segment helds the major share of 31.3% in 2020
On the basis of price point, the premium segment is estimated to reach $1,461.1 million by 2030 at a CAGR of 7.0%.Premium brands are intended to have symbolic, experiential and additional health benefits in terms of prestige and social status. The ingredients and processing method used in premium coconut oil are of a premium quality and naturally sourced. Great attention is paid on details to ensure highest quality end-product along with presentation. However, the market for the premium segment is extremely complex as it encompasses a wide range of social and economic factors. The major regions and countries that have gained success in the premium segment include Europe, North America, Japan, China, India, and Russia. Consumers purchasing premium cooking oil including coconut oil prefer to shop in specialty stores to enjoy the purchase experience.
By Price Point
Mass segment helds the major share of 83.2% in 2020
According to the coconut oilmarket opportunities. Region wise, Europe garnered a major share in coconut oil market in 2020, and is expected to maintain its dominance throughout the coconut oilmarket forecast period. The market for coconut oil is likely to grow at a significant rate, owing to their increasing consumption in many food preparations such as bakery products, snacks, confectioneries, and ready to eat meals. Coconut oil have witnessed an increase in demand from the cosmetics and personal care industry in Europe. In addition, rapid urbanization and growth in demand from consumers for food with nutritional benefits are anticipated to boost demand for coconut oil. As the unique combination of fatty acids in coconut oil may have positive effects on your health, such as boosting fat loss, heart health, and brain function. Thus, above mentioned factors are majorly attributing for the growth of the Europe coconut oil market during the forecast period.
By Region
Europe region helds the major share of 33.7% in 2020
The players operating in the global coconut oilmarket have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Greenville Agro Corporation, ADM, LibraBioScience, Marico, Ltd, Bunge Ltd, Cargill, Incorporated, Wichy Plantation Company (Pvt) Ltd, Adani Group, Windmill Organics Ltd and Hain Celestial.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020-2030to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the Coconut oil market share.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the coconut oilindustry.
Coconut Oil Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Distribution Channel |
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 By Packaging |
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 By Price Point |
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 By Region |
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 Key Market Players | WINDMILL ORGANICS LTD, WICHY PLANTATION COMPANY (PVT) LTD, ADANI GROUP, HAIN CELESTIAL, BUNGE LTD., ADM, MARICO LTD, LIBRABIOSCIENCE, CARGILL, INCORPORATED, GREENVILLE AGRO CORPORATION |
Analyst Review
This section provides the opinions of top-level CXOs in the coconut oil industry. According to them, coconut oil has versatile functions in various end use industries inclduing chemical, functional and suplment food industry, perosnal care and cosmetic industry.
According to CXOs, Consumer attractiveness toward coconut oil with high nutritional values is among the main factors that drive the market. Rise in demand for coconut oil from regions such as North America and Europe has led to incremental trade flow for coconut oil from Asian countries. Indonesia, Philippines, India, Vietnam, Thailand and Malaysia are some of the major coconut producing countries which likley to favor the growth of the Asia-Pacific coconut oil market during the forecast period.
The CXOs further added that rise in internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs. These online platforms are one of the easiest ways to create awareness about the specifications and quality of coconut oil among the target customers. Hence, tapping into such markets is expected to create opportunities for coconut oil market expansion.
Europe region offers lucrative growth opportunities for new market entrants. Increasing demand for coconut oil from perosnal care and cosmetic industry and increase prefernce of consumers towars healthier cooking oil is expected garner the growth of the Europe coconut oil.
The coconut oil market size was valued at $3,440.00 million in 2020 and is estimated to reach $7,390.20 million by 2030.
5.1% is the CAGR of Coconut Oil Market.
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2021 to 2030 is the forecast period in the market report.
The market segmented into product type, application, distribution channel, packaging, price point and region.
Greenville Agro Corporation, ADM, LibraBioScience, Marico, Ltd, Bunge Ltd, Cargill, Incorporated, Wichy Plantation Company (Pvt) Ltd, and Adani Group are the top companies in the Coconut Oil Market.
Increase demand for organic personal care and cosmetic products and increasing consumption of the coconut cooking oil are expected shape the market in the future.
Europe region will dominate the market by the end of 2030.
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