DUBLIN, January 25, 2022--(BUSINESS WIRE)--The "Coconut Oil Market by Product Type, Age Group, Application, Distribution Channel, Packaging, and Price Point: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The coconut oil market size was valued at $3,440.00 million in 2020 and is estimated to reach $7,390.20 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.
Increase in awareness regarding various benefits of coconut oil as compared to synthetic counterparts has resulted in an upsurge in the demand for coconut oil over the past few years. This is attributed to increase in awareness of consumers regarding the risks associated with products containing harsh chemicals, petrochemicals, and preservatives. Major market players have been investing significantly into R&D to boost the production to cater to the changing consumer preferences. Consumer's perception about coconut oil is that it is healthy and is a nutritious alternative for the other plant based oil.
The outbreak of the pandemic has negatively affected the global coconut oil market. Various companies in the oil industry witnessed various challenges lockdown period. Challenges such as trade restrictions, transportation problems and lack of labor.
According to the coconut oil market analysis, the market segmented into product type, application, distribution channel, packaging, price point and region. On the basis of product type, the market is categorized into virgin coconut oil and coconut RBD oil. On the basis of application, the market is segmented into, food industry, agriculture, cosmetics and personal care industry, chemical industry and others.
By distribution channel, market is categorized into, direct distribution, convenience stores, modern trade units, e-commerce and others. On the basis of packaging, the market is segmented into, bottle, jar, can, pouch, tanks and others. By price point, the market is segmented into mass and premium. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands and Rest of Europe), Asia-Pacific (China, India, Japan, Philippines, Malaysia, Indonesia, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
Increase in demand for processed food and rise in awareness about the health benefits of the coconut oil are some of the major drivers that foster the market growth in North America. In addition, surge in demand for fast food and expansion of the hotel, restaurants, and quick services restaurants in the U.S. are likely to contribute for the growth of the North America coconut oil market during the forecast period.
The study provides an in-depth analysis of the global crunchy chocolate market with current trends and future estimations to elucidate the imminent investment pockets in the market.
The report provides information regarding drivers, restraints, and opportunities with impact analysis.
A quantitative analysis from 2020 to 2030 is provided to showcase the financial competency of the market.
Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
Competitive intelligence highlights business practices followed by leading market players across various regions.
Increase in use of coconut-based products in food & beverage applications
Surge in application of coconut oil and milk in the cosmetic industry
Expansion of the retail market
Growth of fast food and processed food in developing countries is anticipated to strengthen the demand for cooking oils including coconut oil
Stagnant or slight decline in production of coconut relative to the increasing demand
Counterfeiting of cooking oil fetching the restraints of the market
Increase in number of consumers allergic to peanut and sunflower oil
Increase in demand for label-friendly products among consumers
Greenville Agro Corporation
Wichy Plantation Company (Pvt) Ltd
Windmill Organics Ltd
For more information about this report visit https://www.researchandmarkets.com/r/1aqpoa
View source version on businesswire.com: https://www.businesswire.com/news/home/20220125005707/en/
Laura Wood, Senior Press Manager
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