USD 2.48 Billion
Virgin coconut oil Market Size, Share, Growth Analysis, By Type (Organic and Conventional), By Sales Channel (B2B and B2C), By End-User (Food & Beverages, Cosmetics and Personal Care Products), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG30H2163 |
Region:
Global |
Published Date: January, 2025
Pages:
157
|Tables:
86
|Figures:
66
Virgin coconut oil Market Insights
Global Virgin Coconut Oil Market size was valued at USD 2.48 Billion in 2023 and is poised to grow from USD 2.68 Billion in 2024 to USD 5.04 Billion by 2032, growing at a CAGR of 8.20% in the forecast period (2025-2032).
The rising demand for cosmetics is expected to propel the growth of the virgin coconut oil market. In recent times, consumers are preferring natural ingredients in their beauty products which is increasing the popularity of virgin coconut oil in the beauty industry. Such oils are known to possess desirable qualities and have become popular in many skin care and hair care formulations. This demand for virgin coconut oil is increasing in the cosmetic sector because it has high quantities of antioxidants, vitamins, and medium-chain fatty acids which are great for moisturizers, hair conditioners and many other beauty products. Moreover, the promotion of clean beauty has also increased the sales of virgin coconut oil as it does not have any chemicals or additives.
Furthermore, the rising awareness regarding the health benefits has emerged as a factor facilitating the enhanced demand for virgin coconut oil. Customers are increasingly viewing virgin coconut oil as a healthy option as it consists of antioxidants, vitamins and medium-chain fatty acids. Today more consumers are learning the possible positive impact of virgin coconut oil on heart health, weight management, and general well-being, increasing its popularity, leading to market growth. This heightened health awareness is not only reflected in the culinary domain but extends into other sectors, including skincare and haircare. Due to its wide use in personal care goods and its natural, healthy image, virgin coconut oil has become extremely popular among consumers. As there is a growing trend among consumers to look for products that match their wellness goals, the market for virgin coconut oil will continue to grow.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
Organic
Fastest Growth
Conventional
Growth Rate
8.20% CAGR
Global Virgin Coconut Oil Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Virgin coconut oil Market Segments Analysis
The global virgin coconut oil market is segmented into type, sales channel, end-user, and region. Based on the type, the market is segmented into organic and conventional. Based on sales channel, the market is segmented into B2B and B2C. Based on the end-user, the market is segmented into food & beverages, pharmaceuticals, cosmetics and personal care products. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Analysis by Type
Based on type, the organic virgin coconut oil segment is dominating with the largest virgin coconut oil market share. Losing weight and looking after one's health by maintaining a good diet has become the topmost priority for consumers, which is making the use of organic virgin coconut oil a suitable choice for them. Fungicides, herbicides, and other chemicals are usually absent in organic farming, so such products are a better choice for people who are trying to lead a healthier lifestyle. Furthermore, the increasing research on the health benefits of coconut oil health benefits the fact that organic virgin coconut oil is certified organic, it stands as a viable alternative for many health-conscious buyers.
The conventional virgin coconut oil segment is expected to grow at a significant CAGR during the forecast period. Generally, the cost of conventional coconut oil is much lower than the latest virgin coconut oil. This is a major factor due to which the demand for conventional coconut is constantly increasing in the market. This advantage of cost tends to be attractive to the large segment of consumers who consider price as a key factor when making the purchase. Due to this, the conventional virgin coconut oil is able to reach out to even more consumers, contributing to the growth of the market. The demand for conventional virgin coconut oil is also increasing because of its vital nutritional benefits. The extensive utilization of this type of oil in the personal care and food & beverage sector is boosting the growth of the segment.
Analysis by Sales Channel
Based on sales channel, the B2B segment is dominating the virgin coconut oil market. Many countries which export virgin coconut oil tend to transact business on a B2B basis. These transactions generally consist of purchasing coconut oil in bulk so that it can be utilized in many commodities in various markets. The increase in demand of virgin coconut oil on a global scale is leading to the rise of B2B transactions, which has made it an important aspect of international commerce. Furthermore, the B2B segment has further been subdivided into food & beverage, personal care & cosmetics, pharmaceuticals, institutional purchases and others. In these sectors also the usage of virgin coconut oil is rapidly increasing as it is not only good for skin and hair but also possible health benefits.
As per virgin coconut oil market analysis, B2C segment is experiencing tremendous growth and popularity in recent years. The increasing demand of virgin coconut oil is the result of consumers becoming more and more aware of its potential health benefits. The B2C segment is divided into super/hypermarkets, convenience stores, and online stores. As more people are looking for natural and nutritional food, the demand for virgin coconut oil is increasing, boosting the B2C segment. This increasing popularity of virgin coconut oil among consumers has made it available in almost every store globally. The competition in the market is also increasing rapidly as prominent companies are launching new products that will increase convenience and attractiveness of the virgin coconut oil among people.
Global Virgin Ccoconut Oil Market Analysis by Type
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Virgin coconut oil Market Regional Insights
Asia Pacific is dominating with the largest virgin coconut oil market share. The increased acceptance of virgin coconut oil in the developing economies of the region and the growing coconut plantation and high consumption domestically propel the market growth. This region is the largest contributor in terms of both production and consumption. Philippines and India are the greatest producers of raw coconut oil. The significant growth of coconut products in India aimed further extraction of virgin coconut oil in the nation. The production of coconut in the areas of India is estimated to be about 9500000 metric tons and the area under coconut cultivation comes around 1.78 million hectares. Besides, the Government of India, has also been accentuating the other uses of this oil by promoting campaigns on it which is expected to foster the growth of the virgin coconut oil market in the region.
Over the course of the projected period, it is anticipated that North America would expand with the highest growth rate. Increase in personal care & beauty products demand and high disposable income in the region is helping in the market growth. The inclusion of virgin coconut oil in beauty products is on the rise in the region because fatty acid content in the oil aids in enhancing the overall dermal structure. Furthermore, the popularity of healthy oils is also increasing the demand for virgin coconut oil due to its anti-bacterial features and fat loss abilities, which is likely to propel the market expansion. In addition, as per the most recent statistics published by the International Trade Center (ITC), in 2021, virgin coconut oil stays among three highest goods for import by U.S. from the Philippines for the last three years. The increasing demand for coconut products is mainly predicated on the changes that are expected to occur as a result of the new U.S trade policies, changes in the market and in food and nutrition related to the coconut sector.
Global Virgin Coconut Market By Geography
- Largest
- Fastest
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Virgin coconut oil Market Dynamics
Drivers
Health Benefits of Virgin Oils
- Increased awareness of health issues among consumers has greatly contributed to the expansion of the market. Numerous health benefits associated with virgin coconut oil has contributed to widening its application in medical consumables and pharmaceutical products to maintain good health. Virgin coconut oil contains healthy fatty acids, vitamins, minerals, and antioxidants. The product is gaining traction as a nutraceutical ingredient around the world and is increasingly gaining popularity among health-conscious individuals. Apart from that, it is also used in the pharmaceutical industry, especially by patients suffering from diabetes, as it helps in reducing blood sugar.
High Consumer Spending and Preference for Functional Foods
- The increasing interest in functional foods has favored virgin coconut oil which is rich in taste and also has a slight aroma. It is gaining popularity in several fad diets, including the keto and paleo diets. Furthermore, consumers are now better informed than before regarding nutrition and the importance of physical activity, hence, when choosing cooking oil using a healthy option produces more advantages. In addition, virgin coconut oil is composed of medium-chain triglycerides (MCTs) which can promote the burning of fats and aid weight loss efforts.
Restraints
High Degree of Substitution
- Today there are many substitute oils like virgin olive oil, sunflower oil, almond oil, canola oil and others which exhibit close nutritional characteristics to that of virgin coconut oil. This is immensely hindering the growth of the market. Furthermore, the virgin coconut oil smoke point is high, this could make such oils a preferable option for baking and cooking. Also, there is expected to be a negative growth of the market due to its high reliance on the import of coconut and coconut oil in Europe.
Supply Chain Issues and Lower Shelf Life
- The production of virgin coconut oil relies on fresh coconuts which are easily affected by climate, pest and diseases. It will cause supply and price volatility. The production process of virgin coconut oil is highly labour-intensive as it incorporates extensive physical effort for extraction. This, together with the cost of raw materials results in higher expense of production as compared to refined coconut oil. Due to its fundamental structure virgin coconut oil has a shorter shelf life compared to refined coconut oil. This makes the proper transport, storage and delivery more operationally expensive.
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Virgin coconut oil Market Competitive Landscape
To further increase the supply of virgin coconut oil in the market, leading participants are making significant investments in research and development to expand their product lines. Key players in the market are also engaging in diverse strategic endeavors to broaden their market base, and other significant developments in the market include launching of new products, entering into contractual agreements, engaging in mergers and acquisitions, higher investments as well as teaming with other firms. To remain in this intensively competitive and increasingly growing market the virgin coconut oil companies need to produce competitively priced products. One of the important business strategies that are being utilized by the manufacturers in the virgin coconut oil industry is to produce in-house for reducing operational expenses. More recently, the medicinal field has been one of the areas where the virgin coconut oil sector has made some of the most substantial contributions.
Top Player’s Company Profile
- Edward & Sons Trading Co
- Greenville Agro Corporation
- The Coconut Company Ltd.
- Healthy Traditions, Inc.
- Nutiva Inc.
- The Hain Celestial Group
- MaxCare Virgin Coconut Oil
- Celebes Coconut Corporation
- SC Global Coco Products Inc.
- Barlean's
Recent Developments
- In September 2023, Indian farmers organisation called Kannadi Karshaka Kootayma, launched a new Virgin oil coconut oil infused with herbs under its brand Kannadi.
- In February 2022, Dabur India Ltd, which is one of the top Ayurvedic companies based in India, also adheres to the terms of Natural Health, has essentially come up with a new product called “Virgin coconut oil”. This Amazon launched product is present on the online shopping retail site.
- REM beauty is a company owned by the American Artist Ariana Grande, and in June 2022 they launched a new product called Essential Drip Lip Oil which is an infusion of coconut oil which provides glossy shine and moisturizing effects to the lips.
Virgin coconut oil Key Market Trends
- Growing Use of Coconut Oil in Personal Care & Cosmetic Products: Coconut oil is mostly used in coastal and tropical regions as a good solution to beautification leading producers to incorporate into their cosmetic and personal care products. The use of virgin coconut oil in cosmetics is becoming more popular as consumers of today demand vegetarian and organic hair and skin care products. As a result, many cosmetic and personal care companies are increasingly replacing mineral oil in their skin and hair care products with coconut oil which is rich in triglycerides and stable saturated medium-chain fatty acids.
- Potential Biofuel Application of Coconut Oil: The fuel crisis and growing societal worries regarding the depletion of non-renewable energy resources have promoted a search for alternate solutions. Efforts to generate energy from other available means like solar and biological sources too have been initiated. The consumption of biofuels is mounting due to their eco-friendliness. Blends of coconut oil provide energy which is similar to standard diesel fuel, and its exhaust has significantly reduced harmful emissions than that of normal diesel.
Virgin coconut oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global virgin coconut oil industry is expected to grow at a steady rate during the period of forecast. The virgin coconut oil market portrays noteworthy emerging trends and dynamics that are evident to the change in the consumer consumption and the growth of the industry. One notable insight is the increasing awareness and consumption of virgin coconut oil owing to the health benefits attached to it. More and more individuals are using virgin coconut oil due to its believed effectiveness in improving heart health, metabolism, and overall physical conditions. The increase in health-oriented consumer habits has improved the demand for virgin coconut oil as an ingredient in various functional foods, beverages, and dietary supplements. Also, the use of virgin coconut oil in skincare and haircare products by the beauty and personal care industry further illustrates the broad scope of its application. The natural constituents of virgin coconut oil such as vitamins, antioxidants as well as moisturizers go hand in hand with clean beauty products thus explains its use in various cosmetic products.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.48 Billion |
| Market size value in 2032 | USD 5.04 Billion |
| Growth Rate | 8.20% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Virgin coconut oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Virgin coconut oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Virgin coconut oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Virgin coconut oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Virgin coconut oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Virgin coconut oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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