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Wiseguyreports.Com Adds “Virgin Coconut Oil -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2024” To Its Research Database
Coconut oil is an edible oil which is extracted from the kernel of a mature coconut from the coconut palm 2k coconut producers across the globe include Indonesia and Philippines with India capturing the third place. The coconut oil is extracted from these coconuts has applications and personal care food and beverages and various other industrial sectors. Apart from this the coconut oil is also used in the healthcare industry especially for the treatment of diabetic patients as it helps in the appropriate utilization of blood glucose. Ordinary coconut oil, one which is extracted from a raw coconut, is witnessing a shift towards virgin coconut oil since consumers are highly adopting virgin coconut oil. Virgin coconut oil refers to coconut oil which is extracted from fresh coconut milk procured from 12 months of pollination of coconut through natural or mechanical methods. Virgin coconut oil is rich in fatty acids and has a high nutritional value due to high levels of antioxidants, vitamins and minerals present in it.
The global virgin coconut oil market is ascending at a fast pace, over the forecast period, as per the report published by WGR. Various factors are impacting the market growth positively, including the rising prevalence of diseases among consumers and rising awareness towards the nutritional benefits of oil. This is leading to higher shift towards the adoption of virgin coconut oil, augmenting the demand. Moreover, virgin coconut oil is also expected to witness heightened demand from the geriatric population. Increasing consumer expenditure on food and beverages as well as healthy habits to improve the health of skin and hair is likely to propel market growth.
Some key players influencing positive growth in the global virgin coconut oil market include NM, HOLDINGS PRIVATE LIMITED, Greenville Agro Corporation, P.T. Harvard Cocopro, Naturoca, SUN BIO NATURALS INDIA PRIVATE LIMITED, Celebes, Sakthi Exports, NATURE PACIFIC PTY LTD, Cocomate, Manchiee De Coco, KKP Industry, Genius Nature Herbs Pvt Ltd, Keratech, Harin Bio-Tech International Private Limited
The global market for virgin coconut oil is segmented in terms of type, application, and region. Based on product type, the market is segmented into virgin coconut oil, extra virgin coconut oil. Based on application, the segments include food and major clients list, medicine and major clients list, and beauty and cosmetics and major clients list.
Detailed Regional Analysis
The market for virgin coconut oil is regionally segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the APAC accounted for the largest share, in terms of revenue, at the beginning of the forecast period. It is also estimated to continue its dominion over the market, through the forecast period. Asia Pacific is the largest producer of virgin coconut oil in the world. North America is expected to follow the APAC region. This can be accredited to new product developments by key manufacturers in the market, driving the growth of the global market. However, Asia Pacific is expected to garner the largest growth rate over the forecast period.