Rising Demand for Nutraceuticals to Fuel the Growth of Global Virgin Coconut Oil Market, according to our research report Global Virgin Coconut Oil Market Outlook 2023.
Global virgin coconut oil market is segmented into distribution channel. Among these, online store is expected to grow at a higher pace on account of rising growth of internet penetration all over the world and increasing online shopping by customers especially in developed countries.The global virgin coconut oil market accounted for higher revenue in 2015 and is expected to expand at a CAGR of 11% over the forecast period i.e. 2016-2023. Virgin coconut oil is predicted to experience high demand in baby care segment.
Asia Pacific accounted the largest share of virgin coconut oil market globally and is estimated to maintain its dominance in virgin coconut oil market during the forecast period. North America and Europe virgin coconut oil markets are anticipated to grow at a considerable rate in future due to rising entry of various coconut oil players in the region.
Rising Health Concerns:
Growing concern towards health and fitness, increasing awareness towards health benefits of virgin coconut oil among the population in urban regions across the globe are some of the key factors expected to propel the growth of virgin coconut oil market. Apart from this, easy availability of virgin coconut oil through various distribution channels at low cost and rising advertisements through numerous distribution channels are likely to gain traction of consumers towards virgin coconut oil in near future.
Prevalence of Organic Virgin Coconut Oil:
The organic (natural) virgin oil has contributed highest share in the total revenue of global virgin coconut oil market over the past few years due to rising concern towards environment among people along with the rising perception of consuming organic based products which are healthier as compared to non-organic. Thus the segment is continue to dominate in future.
The report titled “Global Virgin Coconut Oil Market Outlook 2023” delivers detailed overview of the global virgin coconut oil Market in terms of market segmentation by Type, by Treatment Type and by Distribution Channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global virgin coconut oil Market which includes company profiling of MaxCare VCO, Nutiva Organic Coconut Oil, Hain Celestial Group, Barlean’s Organic Oils LLC, Tropical Traditions America, Zumi Naturals Ltd, Edward and Sons Trading Company, iTi Tropicals Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the global virgin coconut oil market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stake holders to align their market centric strategies according to the ongoing and expected trends in the future.