According to a new report Global Coconut Oil Market, published by KBV research, The Global Coconut Oil Market size is expected to reach $4,554.2 million by 2027, rising at a market growth of 7.2% CAGR during the forecast period.
Coconut RBD oil is easily available in conveniences stores and supermarket which could increase the penetration of the product. Moreover, increased usage of coconut RBD oil in cosmetics & personal care and food industry is estimated to offer lucrative growth opportunities for the coconut oil market over the forecasting years.
The Plastic bottles were commonly utilized for packaging of coconut oil. In addition, they were known to be best packaging as they are reusable and also considered environmentally friendly. Additionally, customers found plastic bottles very convenient for use due to which, it has become the most popular trend in the coconut market.
The premium segment is anticipated to showcase a prominent growth rate during the forecast period. It is considered that premium brands contain experiential, symbolic, and additional health benefits to maintain social status and prestige. In addition, a premium quality and naturally sourced ingredients and processing methods are used for the production of premium coconut oil.
The demand for coconut oil is rapidly increasing in this region due to its excessive usage in personal care and cosmetics industry. Additionally, some major factors that are accountable to accelerate the growth of the market are increasing demand for food preparation as it offers nutritional benefits and rise in urbanization. Moreover, coconut oil contains a unique combination of fatty acids which is beneficial for the health like keeping heart healthy, proper functioning of brain, and reducing fat.
Full Report: https://www.kbvresearch.com/coconut-oil-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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