Organic virgin coconut oil is certified virgin coconut oil
which is produced by traditional means without the use of fertilizers or
pesticides. Major share of organic virgin coconut oil is procured from the
Philippines which accounts for more than 65% of the organic virgin coconut oil
production in Asia Pacific in the year 2016. Obtaining organic certification or
virgin coconut oil is a difficult process and hence, even though farmers
practice organic farming, they do not opt for organic certification based on
lack of awareness and stringent process.
Consumers are becoming aware of all these beneficial
properties of virgin coconut oil thus making it popular as a functional food
oil. Rising consumers’ awareness backed up by increasing health consciousness
are supporting the growth of this market.
Organic
Virgin Coconut Oil Market Share
Market Forecast
The global market for organic virgin coconut oil is
experiencing high demand during the last few years and is projected to reach
64,940 tons by 2022. Developing economy and consumers’ adoption of sustainable
development trends are likely to drive the organic virgin coconut oil market
share in the countries of the developed regions. Higher inclination of consumes
towards chemical-free food ingredients has a positive impact on this market.
Technological strides are found to facilitate agricultural productivity is also
likely to have a positive impact on its market growth.
Based on application, share of virgin coconut oil in health
care products is expected to witness the highest growth rate (~5.14%) on a
global level. Personal care based application of organic virgin coconut oil
will hold a significant share and will also witness a steady growth during the
given forecast period. Health care based application of organic virgin coconut
oil is likely to experience a high growth rate during the given period owning to
the medicinal properties of organic virgin coconut oil.
By Downstream Analysis
Potential applications of organic virgin coconut oil in
personal care industries have a positive impact on its market share growth.
Based on the application, health care application segment will experience the
highest growth rate followed by food & beverages. Personal and health
care products application together accounts more than 82% of market share
during the year 2016. Many key players are diversifying the product portfolio
in health care application as virgin coconut oil due to its antibacterial,
antifungal and anti-inflammatory properties. It also helps to prepare
antibodies which boost the immune system.
Competitive Analysis
The major key players in organic Virgin Coconut Oil are:
- Nutiva,
Inc. (U.S.)
- Celebes
Coconut Corporation (Philippines)
- Greenville
Agro Corporation (Philippines)
- Earth
Born Co.,Ltd. (Thailand)
- Vita
Coco (U.S.)
- Farm
Direct Coconuts (U.S.)
- Parker
Biotech Private Ltd (India)
Key players are focused majorly on acquisition of small
players to expand their business and penetrate the global organic virgin
coconut oil market. Expansion and R & D investments are also the major
strategies followed by the players. Expansion will help in capturing the major
market and increasing the production capacity to meet the rising demand from
consumer’s end thereby further contributing to increasing revenue. Acquisition
and expansions are evaluated to be contributing to more than 55% of strategy
share and is facilitating the companies to penetrate the potential market
across the globe.
Complete Report Details @ https://www.marketresearchfuture.com/reports/organic-virgin-coconut-oil-market-4498
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