Organic Virgin Coconut Oil Market - Forecasts from 2019 to 2024

The Organic Virgin Coconut Oil market is projected to grow at a CAGR of 6.43% to reach US$3.928 billion in 2024 from US$2.703 billion in 2018. The demand for virgin coconut oil (VCO) is increasing owing to its nutritional benefits as functional food. The production of VCO is done mostly at the micro or at village levels and is serving as an excellent farm income compared to the traditional copra production. Edible applications of the VCO include cooking or frying purposes, it is used as a source of fat in infant formula and baby foods, used as spray oil in cookies and cereals to enhance flavour increase shelf life of the products giving it a glossy appearance as well. It is also used as an ingredient in candy bars, toffee and caramels.

Drivers

Increasing adoption across industry verticals

Restraints

Availability of substitute

INDUSTRY UPDATE

In December 2018, Marico introduced new range of cold pressed virgin coconut oil under the brand name of Coco Soul. The new product range includes 100% organic and natural variants.

The major players profiled in the Organic Virgin Coconut Oil market are Nutiva Inc., Earth Born Co., Ltd, Vita Coco, Coconut Country Living, Greenville Agro Corporation, Farm Direct Coconuts, VSS Products and Farmer India.

Segmentation

The Organic Virgin Coconut Oil market has been analyzed through the following segments:

By Processing Technology

Fresh-dry process
Low pressure method
Kitchen method
Fermentation method
Centrifuge process
Bawalan-Masa process

By Edible Application

Culinary purposes
Infant formula and baby foods
Crackers, cookies and cereals
Confectionaries

By Distribution channel

Online
Offline

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Other

Asia Pacific
China
Japan
India
Others