WASHINGTON, May 09, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Virgin Coconut Oil Market finds that the increasing applications in cosmeceutical and personal care products are expediting market growth. Primarily driven by rising awareness about health benefits among consumers, the total Global Virgin Coconut Oil Market is estimated to reach USD 4 Billion by the year 2028.
The Global Market revenue stood at a value USD 2.3 Billion in the year 2021 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 9.7%.
Furthermore, the increase in demand for clean label products is also anticipated to augment the growth of the Global Virgin Coconut Oil Market, states Vantage Market Research, in a report, titled “Virgin Coconut Oil Market Size, Share & Trends Analysis Report by Type (Organic, Inorganic), by Application (Direct Consumption, Indirect Consumption, Food & Beverages, Cosmetics & Personal Care), by Distribution Channel (Store-based Retail, Internet Retailing), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Increasing Use in Cosmeceutical and Personal Care Products to Stimulate Global Virgin Coconut Oil Market
The increasing applications in cosmeceutical and personal care products are anticipated to augment the growth of the Virgin Coconut Oil Market in the years to come. Virgin Coconut Oil Market is used in cosmetics, especially as a moisturiser, and in soaps. Virgin Coconut Oil Market has long been used to treat illnesses and infections, as well as to mend wounds, promote strong bone growth, and protect the skin from blemishes. Lauric acid, capric acid, caprylic acid, linoleic acid (polyunsaturated fats), oleic acid (monounsaturated fats), polyphenols (virgin coconut oil only), and medium-chain triglycerides are the key chemical constituents of coconut carrier oils. Lauric acid is a medium-chain triglyceride that is known to absorb fast and thoroughly into the body, as well as remove and prevent numerous infections. When used in body butters, soaps, and salves, it has smoothing characteristics and textures. Virgin Coconut Oil Market provides excellent emollience to dry, itchy skin and hair without clogging pores, making it perfect for sensitive, inflamed, and irritated skin.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Virgin Coconut Oil market is predicted to grow at a CAGR of roughly 9.7% during the forecast period.
- The Virgin Coconut Oil market was estimated to be worth roughly USD 2.3 Billion in 2021 and is expected to reach USD 4 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Virgin Coconut Oil market.
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Segmentation of the Global Virgin Coconut Oil Market:
- Type
- Organic
- Inorganic
- Application
- Direct Consumption
- Indirect Consumption
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
- Distribution Channels
- Store-Based Retail
- Internet Retailing
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/virgin-coconut-oil-market-1546
Growing Health Awareness about Health Benefits to Accelerate Market Growth
The increasing awareness about health benefits among consumers is anticipated to augment the growth of the Virgin Coconut Oil Market within the estimated period. The market's expansion has been fueled by rising consumer awareness of health benefits. Virgin Coconut Oil Market's numerous health benefits have contributed to its widespread use in medical consumables and pharmaceutical items to promote good health. Vitamins, minerals, and antioxidants abound in Virgin Coconut Oil Market, which is high in beneficial fatty acids. The product type is gaining traction as a nutraceutical ingredient around the world, and is gaining appeal among health-conscious people. Apart from that, it is employed in the pharmaceutical sector, particularly by diabetic patients, since it aids in the efficient usage of blood sugar. According to the International Diabetes Federation (IDF), there were roughly 463 million adults living with diabetes in 2021, indicating that the Virgin Coconut Oil Market sector has a significant growth potential.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the food & beverage industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Virgin Coconut Oil Market highlights:
- Assessment of the Market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific to Witness Fastest Growth in the Global Virgin Coconut Oil Market
Asia Pacific is expected to grow at a fastest CAGR during the forecast period. This is attributable to the rising coconut plantations and its consumption in the region. Furthermore, the market's regional growth is likely to be fueled by an increase in acceptance and awareness about benefits of Virgin Coconut Oil Market among consumers. Additionally, the region has the largest production and consumption of Virgin Coconut Oil Market which is also contributing significantly towards the regional growth of the market.
List of Prominent Players in the Virgin Coconut Oil Market:
- Sun Bio Naturals
- Nutiva Inc.
- NMK Holdings Private Limited
- Greenville Agro Corporation
- iTi Tropicals Inc.
- The Hain Celestial Group
- Edward & Sons Trading Co
- Barlean’s
- Jax Coco
- Naturoca
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Virgin Coconut Oil Market Size, Share & Trends Analysis Report by Type (Organic, Inorganic), by Application (Direct Consumption, Indirect Consumption, Food & Beverages, Cosmetics & Personal Care), by Distribution Channel (Store-based Retail, Internet Retailing), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/virgin-coconut-oil-market-374504
Recent Developments:
February, 2022: Dabur India Ltd announced the launch of "Virgin Coconut Oil", further strengthening its presence in the coconut oil market. Dabur Virgin Coconut Oil is 100% Natural, it can be used for cooking and is traditionally also used for Skin & Hair Health and as massage oil.
December, 2018: Marico announced the launch of Coco Soul, a range of Cold Pressed Virgin Coconut Oil Markets. The new range of products includes 100% organic and 100% natural variants.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Virgin Coconut Oil Market?
- How will the Virgin Coconut Oil Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Virgin Coconut Oil Market?
- What is the Virgin Coconut Oil market drivers and restrictions?
- What will be the CAGR and size of the Virgin Coconut Oil Market throughout the forecast period?
This report titled “Virgin Coconut Oil Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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