Asia Pacific Coconut Oil Market Report and Forecast 2024-2032

Asia Pacific Coconut Oil Market Outlook

The Asia Pacific coconut oil market size is projected to grow at a CAGR of 4.97% between 2024 and 2032.

Key Takeaways:

• According to China (Hainan) International Coconut Industry Forum, in 2023 about 250 million coconuts are produced annually in China.

• Data from the MOA India revealed that there were about 256.41 lakh tonnes of edible oil consumption between 2020 and 2021.

• Indonesia and Philippines are the largest coconut oil exporters in the world.

Conventional coconut oil boosts the Asia Pacific coconut oil market growth and is driven by increasing consumer awareness of its health benefits associated with high levels of medium-chain fatty acid in coconut oil.

Conventional coconut oil is derived from coconut is grown using traditional agricultural methods, often utilising chemicals like synthetic fertilizer and pesticides. This agricultural practice produces a higher volume of coconut oil at lower production costs. Additionally, the versatile application of coconut oil in food, cosmetic and pharmaceutical industries contribute to expanding demand across the region.

In January 2024, In India, coconut farmers of Karumalloor launched 'Keragram' their locally produced coconut oil brand, which was supported by the Department of Agriculture. They processed about 25-30 kg of coconut oil daily under the Kerala Gramam program. The product was launched under Karumalloor Krishi Bhavan as part of a programme to boost coconut production.

Organic coconut oil targets a niche segment of the market and is cultivated through organic farming techniques that provide chemical-free oil and align with the goal of environmental sustainability. These methods prioritise soil health, biodiversity, and the overall well-being of ecosystems. As health consciousness among consumers is increasing, they are preferring foods and oils with less chemical input to avert any future problems.

Market Segmentation

Asia Pacific Coconut Oil Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• RBD

• Virgin

• Crude

Market Breakup by Application

• Food and Beverages

• Pharmaceuticals

• Cosmetic and Personal Care

• Others

Market Breakup by Source

• Wet Coconut

• Dry Coconut

Market Breakup by Nature

• Conventional

• Organic

Market Breakup by Country

• China

• Japan

• India 

• ASEAN

• Australia

• Others

The Asia Pacific coconut oil market key players are Archer-Daniels-Midland Co., Cargill Inc., Greenville Agro Corporation, Royce Food Corporation, Tantuco Enterprises, Inc., Celebes Coconut Corporation, Bunge Global S.A., HanCole Corporation, Marico Ltd., and Dabur India Ltd., among others.

Key Highlights of the Report