Coconut oil is a tropical oil produced from coconut kernels. Coconut oil really shines as both cosmetic and cooking products. The popularity of coconut oil has soared in the recent years, owing to several health benefits.
The coconut oil market is expected to witness moderate growth in the coming years due to rise in adoption in cosmetics industry. Rise in demand for coconut oil as a hair care and skin care products is leading to the growth of the coconut oil market.
Coconut oil acts as a natural moisturizer for the skin and helps hydrate the skin and reduces water loss especially in dry skin type. Coconut oil not only moisturizes skin but also helps to condition hair. Easy availability and low cost especially in the tropical regions is also boosting the demand for coconut oil in the global market.
Moreover, coconut oil has several health benefits. It contains healthy fatty acids, which helps to burn body fat. Coconut oil also helps to reduce stress, curb appetite, strengthen the immune system, prevent heart disease, control blood sugar, and increase good cholesterol. These factors are significantly driving the growth of the coconut oil market.
One of the latest trends gaining momentum in the global coconut oil market is the optimization of coconut oil as bio fuel. Bio fuels are environment-friendly as compared to other fossil fuels due to less harmful emissions.
The global coconut oil market can be segmented based on product type, ingredient type, nature, processing type, grade, end user, distribution channel, and region
In terms of product type, the market can be bifurcated into refined coconut oil and unrefined coconut oil. Unrefined coconut oil can be sub-divided into virgin and extra virgin. Based on ingredient type, the coconut oil market can be classified into whole kernel and white kernel.
In terms of nature, the coconut oil market can be categorized into organic and inorganic. Based on processing type, the market can be classified into centrifuge extracted, cold pressed, and expeller pressed. In terms of grade, the coconut oil market can be split into food grade, cosmetic grade, and pharmaceutical grade.
Based on end user, the coconut oil market can be divided into residential and commercial
In terms of distribution channel, the coconut oil market can be classified into offline channel and online channel. Online channel can be sub-divided into company-owned website and e-Commerce website. Offline channel can be sub-divided into organized retail and unorganized retail.
Based on region, the global coconut oil market can be divided into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Furthermore, the regions are divided into countries such as the U.S., Canada, Germany, France, Italy, the U.K., GCC countries, South Africa, China, India, Japan, and Brazil. Asia Pacific market accounts for the major share of the global coconut oil market. This growth can be attributed to the huge production of coconut oil in this region.
The coconut oil market is diverse and competitive. Large numbers of local and international players operate in the global coconut oil market. These players are focusing on new innovations and natural and organic ingredients to meet the growing demand in the global market and also to stay competitive in the market.
Key players operating in the global coconut oil market are Windy City Organics, Marico Limited, Premier Organics, Flower Song Fine Chemical Co Ltd., J.K. International, ANDY ALBAO CORPORATION, The Hain Celestial Group, Inc., EPS IMPEX CO., Windmill Organics, Tantuco Enterprises, Greenville Agro Corporation, Samar Coco Products, Wichy Plantation Company (Pvt) Ltd, and The HallStar Company, among others