Coconut oil market has moderately gone a little rough in the last few years, since it has a wider market reach with a higher demand from various demographics. Products related to coconut oil such as coconut water and coconut sugar have paved the way for market growth in the recent years. Simultaneously, coconut manufacturers are facing supply challenges to maintain their pace. On a commercial level, coconut oil is used in snack foods which has grown in high popularity in the recent years in the snack food sector.
According to the latest report on Coconut Oil Market published at Upmarketresearch, the market is highly driven by rise in use of coconut oil for personal care, availability of oil at cheap prices and rise in number of retail owners is expected to dominate the market development. However, cheaper substitutes and adulterated products are expected to hinder the market growth in the near future.
Product segment for coconut oil market comprises partially hydrogenated, fully hydrogenated, distilled and low white products. Fully hydrogenated product segment is likely to gain a significant growth in the near future.
Packaging channels is likely to get segmented as flexi tanks, steel drums, carboys, squeeze tubes, pails and glass jars. Squeeze tubes, pails and glass jars is likely to gain a strong market position in the near future due to ease of use for consumer demand.
Distribution channels are segmented as wholesalers, online retailers, convenience stores and manufacturers. Wholesalers and online retailers sum up as the faster growing segments due to rise in retail & wholesale market.
Asia-Pacific regions have been dominant in the past and continue to remain at a dominant position at present. The market also witness an exponential growth since there is a lot of demand for coconut oil for cooking and cosmetic purpose. European market is likely to gain higher grounds for market growth thanks to rise in macroeconomic factors and increased awareness in consumers.
North America coconut oil market is highly driven by rise in use of virgin coconut oil for cooking commercially. Also, the rise in number of new market entrants and consumer awareness propels the U.S. market in the near future. Middle East and African market is likely to grow at a significant CAGR in the forthcoming period due to availability of raw materials and increase in volume of production.
Prominent players in the coconut oil market include Windy City Organics, Premier Organics Inc, Windmill Organics, The Hain Celestial Group Inc, ANDY ALBAO CORPORATION, Marico Limited, The Hallstar Company, A.B. Enterprises, PT MANGGA, Flower Song Fine Chemical Co Ltd, EPS IMEX CO, Irmal Middle East, ADP Southeast Orient Corporation, Shanghai Asia Ltd, Libra Bioscience Pvt Ltd and General Laju.