Coconut oil is an edible oil extracted from the kernel or meat of the matured coconuts. Indonesia and Philippines are the two key coconut producers across the globe and India holds the third place in the global market. The coconut oil has significant usage in personal care, food, and various industrial sectors. Apart from this, it is also utilized in the healthcare industry, especially, by diabetic patients as it helps in appropriate utilization of blood glucose. Besides ordinary coconut oil that is extracted from coconut, there has been an increase in the demand for virgin coconut oil. The virgin coconut oil is extracted from the fresh coconut milk procured from 12 months of pollination of coconut either by natural or by mechanical techniques. It is a rich source of fatty acids and it includes various nutrients such as vitamins, minerals, and antioxidants. Chemical processing, or bleaching is avoided in the extraction of virgin coconut oil. This product is gaining grip across the world as a nutraceutical food oil and is getting popular amongst health-conscious people.
Some of the Key Players in the Global Virgin Coconut Oil Market are
• Barlean's (U.S.)
• Hain Celestial (U.S.)
• Nutiva, Inc. (U.S.)
• Healthy Traditions (U.S.)
• NMK Holdings (Pvt) Ltd. (Sri Lanka)
• Greenville Agro Corporation (Philippines)
• SUN BIONATURALS (INDIA) PRIVATE LTD. (India)
Global Virgin Coconut Oil Market is segmented by Type, Application, Distribution Channel and Region.
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The global virgin coconut oil market is regionally segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific accounted for the largest revenue share in virgin coconut oil market globally and is estimated to retain its dominance in the market during the forecast period 2017-2023. The region is the largest producer and exporter of virgin coconut oil across the globe. About 60%-70% of value addition in coconut oil is happening in Philippines, which will help the market to grow over the forecast period. Asia Pacific is followed by North America due to the new product development by the key manufacturers of virgin coconut oil, which is projected to be one of the significant reasons for the rising growth of virgin coconut oil products. However, Asia Pacific region is estimated to witness a maximum growth in the global virgin coconut oil market over the forecast period 2017-2023.
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