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Global Extra Virgin Coconut Oil Market Size Estimated to Reach $2.9 Billion by 2027

Global Extra Virgin Coconut Oil Market size is estimated to reach $2.9 billion by 2027, growing at a CAGR of 9.2% during the forecast period 2022-2027. Extra Virgin Coconut Oil is acquired from the just-produced core of mature coconut kernels. This oil is drawn out either by mechanical or natural procedures. As the coconut core is untreated and raw, the oil thus acquired is named ‘virgin’ coconut oil. Extra Virgin Organic Coconut Oil is one of the most nutritious and therapeutic foods on the planet. This Extra Virgin oil is never clarified, lightened, or cleansed. This is prepared from the freshest and organic coconuts. Extra virgin coconut oil includes ample Medium Chain Triglycerides (MCTs) and is mineral-rich with abundant zinc, calcium, and iron. Extra virgin coconut oil includes anti-oxidants. The great quantity of lauric acid in extra virgin coconut oil supports the heart by minimizing total cholesterol and boosting good cholesterol. Extra virgin coconut oil keeps up hair growth and averts the loss of hair thereby being considered a hair oil. Extra virgin coconut oil is high in protein. The advantages of extra virgin coconut oil including superior moisturizing characteristics and being a rich source of anti-oxidants utilized to handle skin issues, microbial infection, and increasing immunity, are set to drive the Global Extra Virgin Coconut Oil Market. The heightened demand for organic cosmetics fueling the progress of the cosmetic industry is set to propel the growth of the Global Extra Virgin Coconut Oil Market during the forecast period 2022-2027.

Global Extra Virgin Coconut Oil Market Segment Analysis – By Product Type:

The Global Extra Virgin Coconut Oil Market based on product type can be further segmented into Food Grade, Medicine Grade, and Beauty And Cosmetics Grade. The Food Grade Segment held the largest market share in 2021. This growth is owing to the surging application of food-grade Extra Virgin Coconut Oil prepared from organic coconuts particularly in the tropical regions of the world. The health advantages of Extra Virgin Coconut Oil like reduced cholesterol, supporting weight loss, and restraining Diabetes is further propelling the growth of the Food Grade segment.

Furthermore, the Beauty And Cosmetics segment are estimated to grow with the fastest CAGR of 10.4% during the forecast period 2022-2027 owing to the surging application of Extra Virgin Coconut Oil typically prepared from organic coconuts in cosmetic applications apart from therapeutic applications.

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Global Extra Virgin Coconut Oil Market Segment Analysis – By Application:

The Global Extra Virgin Coconut Oil Market based on application can be further segmented into Food And Beverages, Beauty And Cosmetics, Pharmaceuticals and Others. The Food And Beverages Segment held the largest market share in 2021. This growth is owing to the soaring application of Extra Virgin Coconut Oil prepared from organic coconuts in food cuisines to prepare curries and cook vegetables specifically in regions like South India. The proliferation inclusion of Extra Virgin Coconut Oil in food preparations to back weight loss is further propelling the growth of this segment.

Furthermore, the Beauty And Cosmetics segment are estimated to grow with the fastest CAGR of 10.6% during the forecast period 2022-2027 owing to the heightened application of Extra Virgin Coconut Oil prepared from organic coconuts as a secure and effective moisturizer for all kinds of skin inclusive of dry skin.

Global Extra Virgin Coconut Oil Market Segment Analysis – By Geography:

The Global Extra Virgin Coconut Oil Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. Asia-Pacific held the largest share with 40% of the overall market in 2021. The growth of this region is owing to the soaring demand for Extra Virgin Coconut Oil from developing countries in conjunction with a boost in the production of organic coconuts in the Asia-Pacific region. The surging awareness of consumers pertaining to the benefits of organic coconuts together with the enormous domestic intake of coconut oil in the region is further propelling the growth of the Global Extra Virgin Coconut Oil Market in the Asia-Pacific region.

Furthermore, the North America region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like proliferating domestic demand in the North American region being fulfilled by imports from countries like the Philippines. The heightened inclination of consumers towards a healthier lifestyle involving organic products like Extra Virgin Coconut Oil prepared from organic coconuts is further fuelling the progress of the Global Extra Virgin Coconut Oil Market in the North American region.

Global Extra Virgin Coconut Oil Market Drivers

Surging Advantages Of Extra Virgin Coconut Oil Are Projected To Drive The Growth Of Global Extra Virgin Coconut Oil Market:

Extra Virgin Coconut Oil may be prepared from the just produced and organic coconuts. Extra virgin coconut oil has skin-nourishing characteristics. It has anti-inflammatory, antimicrobial, and wound curative characteristics. Additionally, it is also a great source of anti-oxidants. Extra Virgin Coconut Oil advances hair health. It supports the safeguard against protein loss. It encourages oral health. The antimicrobial characteristics of this oil are not just advantageous to the skin, but they may also be beneficial for the teeth. Contrary to other culinary oils, extra virgin coconut oil possesses an integration of medium-chain fatty acids and long-chain fatty acids, which are effortless to absorb and convert into energy. Foods that involve intake of oils including medium-chain fatty acids result in greater weight loss than additional kinds of culinary oils. Cooking with Extra Virgin Coconut Oil, therefore, backs weight loss. The surging advantages of Extra Virgin Coconut Oil are therefore fuelling the growth of the Global Extra Virgin Coconut Oil Market during the forecast period 2022-2027.

Vital Significance Of Lauric Acid Is Expected To Boost The Demand Of Global Extra Virgin Coconut Oil:

Lauric acid is present in Extra Virgin Coconut Oil. Lauric acid is a unique medium chain fatty acid discovered in human breast milk providing antimicrobial and immune backing characteristics. The saturated fats in coconut oil are chiefly healthy medium chain fatty acids. Extra virgin coconut oil, being abundant in Lauric Acid helps in keeping skin and scalp irritations at bay. Lauric acid can thoroughly infiltrate into the hair shaft. An investigation also demonstrates that it may support the minimization of split ends. Applying oil on the scalp can support the packing of the gaps between cuticle cells and avert follicle injury. It also supports a boost in shaft lubrication which averts hair damage. The vital significance of lauric acid is therefore driving the growth of the Global Extra Virgin Coconut Oil Market during the forecast period 2022-2027.

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Global Extra Virgin Coconut Oil Market Challenges

Issue Of Physio-Chemical Parameters In Degeneration And Existence Of Substitutes Are Hampering The Growth Of The Global Extra Virgin Coconut Oil Market:

The degeneration of regionally generated cold extract extra virgin coconut oil (EVCO) for application in aromatherapy owing to physio-chemical oxidation in the air at room temperature is a principal issue in the shelf-life and quality of the product. The outcomes of an investigation demonstrate that EVCO has a good storage possibility to be achieved for up to three years. Research is being pursued in the area of new product development in the product as an organic carrier for the skin lightening agent Curcuma. Substitutes exist for coconut oil like Extra Virgin Olive Oil, Sunflower Seed Oil, Grapeseed Oil, Almond Oil, Avocado Oil, Hemp Seed Oil, Neem Oil, and Shea Butter which are further limiting the growth of the Global Extra Virgin Coconut Oil Market. This issue is thus hampering the growth of the Global Extra Virgin Coconut Oil Market.

Global Extra Virgin Coconut Oil Industry Outlook

Novel product launches, research initiatives, acquisitions, geographical expansions and technological advancements are key strategies adopted by players across the market. Global Extra Virgin Coconut Oil top 10 companies include:

  1. NMK HOLDINGS PRIVATE LIMITED
  2. Greenville Agro Corporation
  3. P.T. Harvard Cocopro
  4. Celebes
  5. Nature’s Answer
  6. Cocomate
  7. Manchiee De Coco
  8. Keratech
  9. Harin Bio-Tech International Private Limited
  10. Tropical

Recent Developments

In January 2022, Asda introduced the least priced Extra Virgin coconut oil in U.K. At just £2.35 per jar, Asda’s Pure Extra Virgin Coconut Oil is priced 27% lower than any other retailer in the U.K. Contrary to the refined coconut oil which goes by way of an array of procedures, extra virgin coconut oil is a cold pressed oil that is cramped from the flesh of the coconut prior to going directly into packaging, without being meddled with.

In January 2021, Vietcoco formally introduced the novel Extra Virgin Coconut Oil. Luong Quoi Coconut Co., Ltd has formally launched a novel product line that is the Vietcoco Extra Virgin Coconut Oil. Vietcoco extra virgin coconut oil is the integration of purity and contemporary trends, precisely demonstrated by the packaging design as per the novel corporation identify the program, offering customers a novel feeling, active and enthusiastic personality

In February 2020, QNET introduced Virgin Coconut Oil under Health and Wellness product segment. QNET introduced a novel product termed Nutriplus Virgin Coconut Oil (VCO) under its health and wellness product classification. The premium Virgin Coconut oil is cold-pressed, crude, authentic, and organically derived from the fresh milk of high-quality organic coconuts, from Kerala.

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Key Takeaways

Geographically, Asia-Pacific Global Extra Virgin Coconut Oil Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the enormous generation of virgin coconut oil from organic coconuts together with the expanding demand for virgin coconut oil for culinary intentions in the Asia-Pacific region.

Global Extra Virgin Coconut Oil Market growth is being driven by the surging application of extra virgin coconut oil produced from organic coconuts as cooking oil, salad dressing, functional food, food additive, moisturizer, hair oil, and massage oil. However, the disadvantages of virgin coconut oil like overpowering flavor and the expensive price tag are some of the major factors hampering the growth of the Global Extra Virgin Coconut Oil Market.

Global Extra Virgin Coconut Oil Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Extra Virgin Coconut Oil Market report.

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Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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