Coconut Oil Market Size, Share & Trends Analysis Report By Product Type (Virgin Coconut Oil and Coconut RBD Oil), By Application (Agriculture, Cosmetics and personal care industry), By Distribution Channel, By Region, And Segment Forecasts, 2023 To 2030

Coconut oil is widely utilized in various industries, including personal care, cosmetics, chemical, and food, owing to its anti-aging, antibacterial, antioxidant, and anti-inflammatory properties. In the personal care industry, coconut oil is renowned for promoting hair health, shine, and growth and for its effectiveness as a body massage oil.

The coconut oil market is driven by several factors, including its use as a hair care product that promotes hair health, shine, and growth and for body massage due to its anti-aging, antibacterial, antioxidant, and anti-inflammatory properties. In addition, it is used for cooking in many Asian countries and helps maintain good cholesterol levels, reducing the risk of heart disease. The food industry also utilizes coconut oil as a dietary fat to prepare filled milk, ice cream, infant milk powder, and confectionery & bakery products. The increasing use of coconut oil in the personal care, cosmetics, chemical, and food industries will likely drive demand for coconut oil during the forecast period.

Some trends following the coconut oil market include the increasing demand for organic coconut oil, particularly in developed countries, due to its perceived health benefits and lower environmental impact. Additionally, the rising popularity of veganism and plant-based diets has increased the demand for coconut oil as a substitute for animal-based fats. Another trend is the development of new product formulations that combine coconut oil with other natural ingredients to create innovative products for the cosmetics and personal care industries. Finally, the shift towards sustainable and ethical sourcing of coconut oil is also gaining traction, with companies working towards responsible sourcing and fair trade practices.

Europe held a significant share of the coconut oil market, primarily due to the rising demand for coconut oil in various food preparations such as confectioneries, bakery products, snacks, and ready-to-eat meals. The personal care industry in Europe has also witnessed a surge in demand for coconut oil. Factors such as rapid urbanization and increasing consumer preference for food products with nutritional benefits are expected to drive the demand for coconut oil. The unique combination of fatty acids in coconut oil is believed to positively impact health, such as improving heart health, fat loss, and brain function. These factors are expected to drive the growth of the Europe coconut oil market during the forecast period.

Coconut Oil Market Segmentation

• ByProduct Type

  • Virgin Coconut Oil

  • Coconut RBD Oil

• By Application

  • Agriculture

  • Cosmetics and personal care industry

  • Food industry

  • Chemical Industry

  • Others

• By Distribution Channel

  • Supermarkets

  • Convenience stores

  • Online

  • Others

Key players

• Patanjali Foods Limited (Ruchi Soya)

• Greenville Agro Corporation

• Adani Group

• HAIN CELESTIAL

• Marico

• SBH Foods Private Limited.

• Cargill, Incorporated

• ADM

• American Vegetable Oils, Inc.

• BUNGE