Coconut oil is a tasteless and colorless oil that is produced from dried or soft coconut kernels. Coconut oil is classified into two forms based on its extraction: unprocessed and refined or virgin oil. Unrefined oil is unbleached and unprocessed; therefore, it is rarely consumed, although virgin oil is used in consumption.
MARKET SCOPE
The "Global Coconut Oil Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the coconut oil market with detailed market segmentation by category, type, distribution channel, and geography. The report provides key statistics on the market status of the leading coconut oil market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on category, the global coconut oil market is segmented into organic and conventional.
- On the basis of type, the market is segmented into virgin coconut oil, and refined coconut oil.
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, convenience stores, online retail, and others.
MARKET DYNAMICS
Drivers:
- Surging demand for cocnut oil due to numerous medical benefits contributes to the growth of the coconut oil market.
- Rising urbanization and increasing per capita disposable income to boost market growth of coconut oil.
- An increase in the incidence of health disorders and fitness awareness among consumers is also boosting the market growth.
- New market players are entering the market owing to the easy availability of raw materials and low capital requirement.
Restraints:
- Wide availability of substitutes.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The coconut oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the coconut oil market in these regions.
IMPACT OF COVID-19 ON COCONUT OIL MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. However, with opening of several markets across the globe, vaccination development, and initiatives taken by various governments to support economic and industrial growth, the future demand of coconut oil market is anticipated to grow at a positive and steady pace in the coming years.
MARKET PLAYERS
The report covers key developments in the coconut oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from coconut oil market are anticipated to lucrative growth opportunities in the future with the rising demand for coconut oil in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the coconut oil market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- A.B. Enterprises
- Associated British Foods
- Cargill Inc.
- Marico Limited
- Parachute
- Premier Organics Inc.
- The Hain Celestial Group, Inc.
- Wichy Plantation Company (Pvt) Ltd
- Windmill Organics
- Windy City Organics