The Asia Pacific Coconut Oil Market would witness market growth of 8.5% CAGR during the forecast period (2021-2027).
The products made from the unprocessed coconut oil have different coconut fragrance. Additionally, it is excessively used in cooking vegetables in southern part of India. Coconut oil has also found its applications in various industries like detergent and cosmetics. However, the health authorities have suggested minimizing the consumption of coconut oil as a food because it contains high levels of saturated fat.
Coconut oil is also beneficial for hairs as it helps in healthy and shiny hair growth due to which, it is excessively used as hair oil. In addition, it contains antibacterial, anti-inflammatory, anti-aging, and antioxidant properties which give relaxation to the body during the massage.
The APAC region would showcase the fastest growth rate in the overall coconut oil market during the forecast period. Factors such as massive demand for virgin coconut oil from developing countries rise in production of coconuts by significant plantations, and massive domestic consumption of coconut oil are responsible for the growth of the regional market. Moreover, the growth of the regional market would witness bright prospects due to the rising awareness of the consumers regarding the advantages of coconut and the utilization of coconut products in residents. Further, Asia has been the biggest user of coconut oil due to the existence of tropical regions, and coconut production is a highly popular activity and source of earning.
The China market dominated the Asia Pacific Coconut Oil Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $548.5 million by 2027. The Japan market is poised to grow at a CAGR of 7.9% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 9.6% during (2021 - 2027).
Based on Product Type, the market is segmented into Virgin Coconut Oil, and Coconut RBD Oil. Based on Price Point, the coconut oil market is divided into Mass and Premium. Based on Application, the market is segmented into Food industry, Agriculture, Cosmetics & personal care industry, Chemical Industry, and Others. Based on Packaging, the coconut oil market is segregated into Bottle, Jar, Can, Pouch, Tanks, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Coconut Oil Market is Projected to reach USD 4,554.2 Million by 2027, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hain Celestial Group, Inc., Archer Daniels Midland Company, Bunge Limited, Adani Wilmar Limited, Wichy Plantation Company (Pvt) Ltd (Bitumix (Pvt) Ltd), Windmill Organics Ltd., Marico Limited, Cargill Corporation.
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