India Coconut Oil Market to Grow at a CAGR of 7.50% During 2024-2032, Aided by the Rising Use of Coconut Oil in Various Applications

The market for coconut oil in India is being aided by the growing industrial, commercial, and domestic applications. The increasing use of coconut oils in hair care applications is surging the demand for the product, which is propelling the market growth. With the growing utilisation of coconut oil in household cooking, especially in the Southern part, the market is witnessing robust growth. Moreover, coconut oil is used in the production of soaps and bakery products, which is significantly contributing to the growth of the market. As the demand for organic coconut oils is increasing, the focus on the sustainable production of the product is rising, which is providing further impetus to the growth of the market.

Marico Limited (NSE: MARICO), one of the leading companies in the market, launched a range of vegan gourmet products under its brand Coco Soul in April 2019. The range includes 100% natural virgin coconut oil, 100% organic virgin coconut oil, as well as 100% natural infused variants of cold-pressed virgin coconut oils. The oils are extracted from cold-pressed processes to preserve the flavours, nutritional components, and aroma of natural coconuts. The oils are rich sources of medium-chain triglycerides (MCT’s), which makes them easy to digest. Moreover, they provide an instant energy boost and aid in weight management while supporting cognition. The range also features cold-pressed virgin coconut oils infused with hot chilli, delectable oregano, cinnamon, and coriander to be used in versatile cooking applications. The development of such innovative products by the leading companies is increasing the use of coconut oil, which is augmenting the market growth.

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Market Analysis by Source, Type, Application, Distribution Channel, and Region:

• By source, the market can be bifurcated into organic and conventional.
• The market, on the basis of type, can be divided into virgin, extra-virgin, and refined, among others.
• Based on application, the market can be divided into food and beverage, cosmetics, pharmaceuticals, and industrial, among others.
• The distribution channels for coconut oil include supermarket and hypermarket, convenience store, and online, among others.
• The regional markets for coconut oil include North India, East and Central India, South India, and West India.

Key Findings of the Report: 

• The increasing use of coconut oil in cooking applications owing to its high smoke points and easy digestibility is augmenting the market growth.
• The market is being aided by the growing demand for coconut oil to boost flavour and nutritional profiles in bakery and confectionery products.
• The increasing use of coconut oil in personal care and cosmetic products is propelling the growth of the market.
• The rising production of virgin coconut oil due to its versatile uses is providing impetus to the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the India market for coconut oil for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the sources, types, applications, distribution channels, and regions of coconut oil in India.
• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.
• The market report also analyses the trade data by covering the major importing and exporting countries.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India coconut oil market are Cocoguru Coconut Industries Private Limited, Sri Sellandiamman Oil Mill, Marico Limited, Patanjali Ayurved Limited, Forest Essentials, Kama Ayurveda Pvt. Ltd., Mahavir Coconut Industries, Dabur Ltd, Organic India Private Limited, Kayal Agro Foods, Shalimar Chemical Works Private Ltd, Old Goa Oils and Foods Private Limited, and JSP FOODS, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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