Organic Coconut Oil Market is Expanding Due to Healthy Living Trends says Market.us
Coconut oil is mainly used as a hair oil because of its outstanding care product that promotes hair shine, health, and growth. Coconut oil is great for body massage because it has anti-aging and antibacterial properties. Coconut oil can use in cooking in many Asian countries. Coconut oil is low in unsaturated fats, which helps to lower the risk of developing heart disease. Coconut oil is used in various food applications, including as a dietary fat in fillings, infant milk powder, ice cream, confectionery, and bakery products.
According to the latest report by Market.us, “The global Organic Coconut Oil Market has a value of USD 468.1 Mn. It is projected to grow to USD 920.3Mn by 2033, with a CAGR of 7.8 % between 2023 and 2033.”
Gaurav Yadav, a senior research analyst at Market.us, said,” The global market is expected to expand due to increasing awareness about healthy eating habits and a growing preference for organic foods and beverages. The high incidence of obesity is also increasing organic coconut oil consumption.”
He added.” As people spend more on premium products, they gain wealth and increase the use of organic coconut oil. That is propelling the market. Urbanization significantly impacts the supply chain for any commodity or product. It will lead to substantial developments expected to boost organic coconut oil demand.”
Coconut oil can use for cooking as well as skincare. Coconut oil is a great choice for baking and other kitchen activities due to its high smoke point and resistance to rancidity. Coconut oil is a popular natural oil for skin care. It can use to replace petroleum-based oils. Coconut oil can also be used in cooking and as an alternative to unhealthy fats in baking recipes. Coconut oil is good for your skin, hair, and joints.
The market has seen significant growth due to consumers’ increasing awareness of their health. Virgin Coconut Oil has many health benefits, leading to its wider use in medical consumables and pharmaceutical products. Virgin Coconut Oil is high in healthy fatty acids, vitamins, minerals, antioxidants, and other nutrients. This product is becoming more popular among health-conscious people and has gained traction around the globe as a nutraceutical component. It is used in the pharmaceutical sector, particularly by people with diabetes. International Diabetes Federation (IDF) estimates that approximately 463 million people had diabetes in 2019. This indicates a big growth opportunity for the virgin coconut oil sector.
Market growth is likely to be impeded by the availability of substitute oils such as sunflower oil and virgin olive oil. Consumers are now more interested in substitutes because many manufacturers have fortified olive and canola oils with essential nutrients. Virgin coconut oil smoke point is higher than the oils above, making them a better choice when baking and cooking. The increasing dependence on imports of European coconut and coconut oil will also affect market growth.
Substitute oils such as canola and sunflower oil have similar nutritional properties to VCO. It is likely to slow down market growth. Consumers are now more interested in substitutes because of the fortification of olive and canola oils by different manufacturers to preserve their essential nutrients. Virgin coconut oil smoke point is higher than the oils above, making them better for baking and cooking. The increasing dependence on imports of European coconut and coconut oil will also affect market growth.
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