What Has Been the Growth of the Extra Virgin Coconut Oil Market So Far?
The extra virgin coconut oil market has seen considerable growth due to a variety of factors.
• The extra virgin coconut oil market has experienced steady growth in recent years. It will grow from $2.45 billion in 2024 to $2.67 billion in 2025, at a CAGR of 9.0%.
The growth can be attributed to greater culinary diversity, increased preference for cold-pressed oils, growing R&D efforts, rising demand for sustainable sourcing, and the popularity of ketogenic diets.
What Are the Future Growth Projections for the Extra Virgin Coconut Oil Market?
The extra virgin coconut oil market is expected to maintain its strong growth trajectory in upcoming years.
• The extra virgin coconut oil market is expected to grow to $3.73 billion by 2029 with a CAGR of 8.7%.
The growth is driven by plant-based diet adoption, consumer awareness of health benefits, rising demand for cosmetics, and increasing disposable incomes. Trends include product formulation innovations, functional food integration, processing and packaging tech advancements, and new product development potential.
What Are The Core Factors Supporting Growth In The Extra Virgin Coconut Oil Market?
The growing adoption of plant-based diets is expected to spur the growth of the extra virgin coconut oil market. Plant-based diets are increasingly popular for health, ethical, and environmental reasons, and extra virgin coconut oil is a key ingredient due to its flavor and nutritional benefits. The Plant-Based Foods Association reported a 6.6% increase in plant-based food sales in 2022, illustrating the growing demand for plant-based ingredients like coconut oil.
What Are The Major Segments Within The Global Extra Virgin Coconut Oil Market?
The extra virgin coconut oil market covered in this report is segmented –
1) By Type: Organic, Conventional
2) By Packaging: Metal Cans, Plastic Bottles, Pouches
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Retail Stores, Online, Other Distribution channels
4) By Application: Food And Beverages, Beauty And Cosmetics, Pharmaceuticals, Other Applications
5) By End Use: Business-To-Business (B2B), Business-To-Consumer (B2C)
Subsegments:
1) By Organic: Cold-pressed Organic Coconut Oil, Expeller-pressed Organic Coconut Oil, Virgin Coconut Oil with Organic Certification
2) By Conventional: Cold-pressed Conventional Coconut Oil, Expeller-pressed Conventional Coconut Oil, Refined Conventional Coconut Oil
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Which Emerging Market Trends Are Altering The Extra Virgin Coconut Oil Industry?
Companies in the extra virgin coconut oil market are developing organic extra virgin unrefined coconut oil to meet growing consumer demand for natural, minimally processed products. This oil is extracted through cold pressing and is free from synthetic chemicals. For example, in October 2022, Natural Grocers, a US-based company, introduced Organic Extra Virgin Unrefined Coconut Oil, which is sourced from organically grown coconuts and processed to retain its natural nutrients and flavors.
Who Are the Key Players In The Extra Virgin Coconut Oil Market?
Major companies operating in the extra virgin coconut oil market are:
• Trader Joe's
• Spectrum Essentials
• Kirkland Signature
• Nature's Way Products LLC
• Swanson Health Products Inc.
• Vitacost.com Inc.
• NOW Foods
• E.T. Browne Drug Co. Inc.
• Fresh Thyme Farmers Market
• Garden of Life LLC
• Dr. Bronner's
• SheaMoisture
• Jarrow Formulas Inc.
• BetterBody Foods & Nutrition LLC
• Nutiva Inc.
• Banyan Botanicals
• Desert Essence
• Barlean's Organic Oils LLC
• Bioriginal Food & Science Corp.
• Kelapo
• Forest Essentials
• Nature's Flavors Inc.
What Is The Most Dominant Region In The Extra Virgin Coconut Oil Market?
Asia-Pacific was the largest region in the extra virgin coconut oil market in 2024. The regions covered in the extra virgin coconut oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
