Rising awareness towards healthy lifestyle products coupled with growing food & beverages industry to drive global virgin coconut oil market through 2024
According
to TechSci Research Report, “Global Virgin Coconut Oil Market stood at $ 2.7 billion in 2018 and is projected to
grow at a CAGR of over 9% during the forecast period to reach $ 4.7 billion
by 2024, on the back of rising
health consciousness among consumers and rising consumer expenditure on
functional food and beverages. Increasing investments that are aiding market players
to boost their production capabilities and cater to growing demand for coconut
oil from consumers are expected to push global virgin coconut oil market during
the forecast period.
Browse 118 Figures
spread through 110 Pages and an in-depth TOC on “Global
Virgin Coconut Oil Market"
Asia-Pacific dominates global virgin coconut
oil market and is expected to remain the dominant region during the forecast
period as well, backed by huge production of coconut in the region. Favorable
climatic condition in the region is one of the key factors resulting in huge
production of organic virgin coconut in the region. Store-based retail and internet
retail are the two distribution channels in virgin coconut oil market. The
store-based retail segment dominated the market in 2018 and is expected to
continue to lead the market in coming years, owing to the rapid penetration of
supermarket retail chains in developing economies. However, internet retail
channel is likely to witness healthy growth over the next five years, backed by
growing popularity of the e-commerce segment. Moreover, e-commerce and
technology are transforming this category with new user experiences, where big
brands and small start-ups alike are racing to embrace e-commerce, making this
channel even stronger.
Asia-Pacific dominated
global virgin coconut oil market in 2018 and is anticipated to maintain its
dominating position during the forecast period as well, owing to huge
production of coconut in the region. The region is also the largest exporter of
coconut oil to other geographical regions. With growing global demand for
virgin coconut oil, market players are finding it difficult to bridge the gap
between high demand from consumers. Various governments in the region are
extending technological support to the players to improve their production
capabilities.
Objective of the Study:
·
To analyze and forecast global virgin coconut oil market size.
·
To classify and forecast global virgin coconut oil market based on
type, application, distribution channel and regional distribution.
·
To identify drivers and challenges for global virgin coconut oil market.
·
To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in global virgin coconut oil
market.
·
To conduct the pricing analysis for global virgin coconut oil market.
·
To identify and analyze the profile of leading players operating in
global virgin coconut oil market.
Some of the leading players in global virgin
coconut oil market are Sun Bio Naturals, Nutiva, Inc., NMK Holdings Private
Limited, Greenville Agro Corporation, iTi Tropicals Inc., The Hain Celestial
Group, Edward & Sons Trading Co, Barlean’s, Jax Coco and Naturoca.
“Growing
interest of consumers towards natural beauty products is driving demand for virgin
coconut oil across the globe, as virgin coconut oil provides proper nourishment
to skin and hair. Moreover, virgin coconut oil is gaining huge traction as a
nutraceutical food oil and is getting popular among health conscious people.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
TechSci
Research performed both primary as well as exhaustive secondary research for
this study. Initially, TechSci Research sourced a list of manufacturers across
the globe. Subsequently, TechSci Research conducted primary research surveys
with the identified companies. While interviewing, the respondents were also
enquired about their competitors. Through this technique, TechSci Research
could include the manufacturers which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the product
offerings, distribution channels and presence of all major manufacturers across
the globe.
Customers
can also request for 10% free customization on this report.
TechSci
Research calculated global virgin coconut oil market size using the bottom-up
approach, where data for various applications across various end-user segments
was recorded and forecast for the future years was made. TechSci Research
sourced these values from the industry experts, company representatives and
externally validated through analyzing historical data of these product types and
applications for getting an appropriate, overall market size. Various secondary
sources such as company websites, news articles, press releases, company annual
reports, investor presentations and financial reports were also studied by
TechSci Research.
“Global Virgin Coconut Oil Market By Type, By
Application, By Distribution Channel, By Region, Competition, Forecast &
Opportunities, 2024”
has evaluated the future growth potential of global virgin coconut oil market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global virgin coconut oil market.
About TechSci Research
TechSci
Research is a leading global market research firm publishing premium market
research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
industrial verticals. TechSci Research specializes in research-based consulting
assignments in high growth and emerging markets, leading technologies and niche
applications.
Our workforce of more than 100 fulltime Analysts and Consultants
employing innovative research solutions and tracking global and country
specific high growth markets helps TechSci clients to lead rather than follow
market trends.
Contact
Mr. Ken Mathews
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Third Avenue,
Manhattan,
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New
York – 10017
Tel:
+1-646-360-1656
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