The Asia Pacific Extra Virgin Coconut Oil Market would witness market growth of 8.9% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 403.47 hundred tonnes, showcasing a growth of 13.9% (2020-2023).
EVCO has gained traction as a popular health and wellness product, recognized for its numerous benefits ranging from skincare to culinary applications. In the skincare sector, EVCO's natural moisturizing properties and potential antimicrobial benefits have fueled its adoption. Thus, the Japan market consumed 79.94 hundred tonnes of extra virgin coconut oil in the market 2023.
The China market dominated the Asia Pacific Extra Virgin Coconut Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $469.2 Million by 2031. The Japan market is showcasing a CAGR of 8.1% during (2024 - 2031). Additionally, The India market would register a CAGR of 9.5% during (2024 - 2031).
Traditional medicine employs coconut oil because of its possible antimicrobial, anti-inflammatory, and antioxidant qualities, offering several health benefits. It's used in remedies for dry skin, eczema, and minor wounds.
Additionally, where oil is swished around in the mouth to promote oral hygiene, often uses coconut oil. It's believed to help remove bacteria and promote healthy gums and teeth.
According to Invest India, the retail industry will reach $2 Tn by 2032. Rapid urbanization and changing lifestyles in India have led to shifts in dietary preferences and consumption patterns. The growth of modern retail formats like supermarkets, hypermarkets, and specialty stores has expanded access to EVCO products for Indian consumers.
Free Valuable Insights: The Global Extra Virgin Coconut Oil Market is Predict to reach USD 4.8 Billion by 2031, at a CAGR of 4.3%
Based on End Use, the market is segmented into B2B, and B2C. Based on Packaging, the market is segmented into Metal Cans, Plastic Bottles, and Pouches. Based on Type, the market is segmented into Organic, and Conventional. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By End Use (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Packaging (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Type (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Country (Volume, Hundred Tonnes, USD Billion, 2020-2031)
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