India Coconut Oil Market to be Driven by the Rising Demand for Coconut Oil in Various End-Use Industries in the Forecast Period of 2022-2027
The new report by Expert Market Research titled, ‘India Coconut Oil Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global coconut oil market, assessing the market based on its segments like sources, types, applications, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 7.50%
The market for coconut oil in India is being aided by the rising use of the oil in cooking owing to the growing awareness regarding its health benefits. As coconut oil has ave high smoke point and rich flavours, it is increasingly used in various applications in the food and beverage industry, hence propelling the growth of the industry. With the growing vegan population in India, coconut oil is increasingly used as an alternative to butter, which is driving the market growth. Moreover, the extensive use of coconut oil in bakery and confectionery products to enhance their health benefits as well boost their flavour profile is providing further impetus to the growth of the market.
Industry Definition and Major Segments
Coconut oil is an edible oil that is typically derived from the meat, wick, and milk of coconut palm fruit. It is extensively used in the cosmetics and personal care as well as the food and beverages industries. It is extremely rich in saturated fat lauric acid, due to which it is highly resistant to oxidation at high heat. It has anti-microbial, anti-inflammatory, and anti-fungal properties, which makes it beneficial in various health-related issues.
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The market, based on sources, is bifurcated into:
• Organic
• Conventional
The major types of coconut oil in India are:
• Virgin
• Extra-Virgin
• Refined
• Others
Based on application, the market is divided into:
• Food and Beverage
• Cosmetics
• Pharmaceuticals
• Industrial
• Others
By distribution channel, the market is classified into:
• Supermarket and Hypermarket
• Convenience Store
• Online
• Others
The regional markets of coconut oil in India are:
• North India
• West India
• South India
• East India
Market Trends
The growth of the coconut oil industry in India is being driven by the rising use of the oil in the cosmetics and personal care industry. The use of coconut oils owing to their moisturising and antioxidant properties in organic cosmetics is augmenting the growth of the market. With the growing trend of do-it-yourself (DIY) skincare, popularised during the COVID-19 pandemic, the demand for coconut oil is significantly surging, hence propelling the industry market growth. In addition, the growing production of virgin coconut oil in India is leading to a surge in its export activities, which is significantly contributing to the growth of the market.
Key Market Players
The major players in the market are Marico Limited, Dabur India Ltd., Patanjali Ayurved Limited, Shalimar Chemical Works Private Ltd., Nutiva Inc., Davidsun Coconut Products (DCP), and Sri Sellandiamman Oil Mill, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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