The global Coconut Oil market is anticipated to grow at a considerable CAGR of 7.1% during the forecast period. An increase in the occurrence of health disorders, numerous medical benefits and fitness awareness among consumers is also boosting the market growth. During the COVID-19 pandemic in 2020, internet retail sales in the United Kingdom soared considerably, as they did in many other European countries. For example, over the last year, online grocery store Ocado boosted its revenues by 35%, from 1.62 billion pounds in fiscal 2019 to 2.19 billion pounds in fiscal 2020. The United Kingdom’s desiccated coconut import volume in 2020 was 15.5 thousand tonnes, worth $30 million, which is equivalent to 13% of total European imports. One of the key factors that are fueling the market is the growing competitiveness between the market players. With several key players in the market, companies are advancing, innovating, and launching new products to stay in the competition. For instance:
· In November 2021, Bunge intends to construct a cutting-edge, environmentally friendly manufacturing facility at the Port of Amsterdam. It will allow the company to offer a more diverse and innovative range of sustainable plant-based oils and fats.
· In August 2021, Nutiva, a pioneer of the organic plant-based food movement with its portfolio of USDA Certified Organic and Non-GMO Project Verified cooking oils and superfoods, announced the acquisition of Coconut Secret, the leading brand of Coconut Aminos, from Leslie's Organics, LLC. Coconut Secret has established itself as the market leader in the soy-free Asian sauces area, which it pioneered in 2009 with the launch of Coconut Aminos, the first soy-free, low-sodium soy sauce substitute. Through the acquisition of Coconut Secret, Nutiva strengthens its position as the market leader in the coconut category and expand its business.
· In February 2020, Bunge Limited has introduced a new line of goods aimed at simulating the flavour, texture, and cooking experience of meat. Specialty fat fractions, shortenings, flakes, and emulsifiers based on high-stability sunflower, canola, coconut, and palm fruit oils are included in this range.
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Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
Segment Covered-
· By Type
· By Source
· By Application
Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
· Competitive Landscape- including Adani Group, Cargil, Incorp., Greenville Agro Corp., Marico, Windmill Organics, and others.
Coconut Oil Market Report Segment
By Type
• RBD
• Virgin
• Crude
By Type
• Wet Coconut
• Dry Coconut
By Application
• Food & Beverages
• Cosmetics & Personal care
• Pharmaceuticals
• Others
A full Report of Coconut Oil Market is Available @ https://www.omrglobal.com/industry-reports/coconut-oil-market
Coconut Oil Market Report Segment by Region
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
• Latin America
• Middle East and Africa
Company Profiles
• ADM
• Aluan
• Aromaax International
• Barlean’s
• BO International
• Bunge Ltd.
• Celebes Coconut Corp.
• CIIF OMG
• Connoils LLC
• Edward & Sons Trading Co
• Greenville Agro Corp.
• Hancole
• iTi Tropicals Inc.
• Jax Coco
• Jiangxi Planty Manor Health Industry Co., Ltd.
• Mangga DUA
• Naturoca
• NMK Holdings Private Ltd.
• Novel Nutrients Pvt. Ltd.
• Nutiva Inc.
• Rmayra Naturals
• Royce Food Corp.
• Shree Western G & C Ind.
• Sun Bionaturals Private Ltd
• Tantuco Enterprises, Inc.
• The Hain Celestial Group
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