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Report Overview
The global coconut oil market reached approximately 3.90 Million Tons in 2024. The market is projected to grow at a CAGR of 1.20% between 2025 and 2034, reaching a volume of around 4.39 Million Tons by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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As per the industry report in 2023, the Philippines is the largest producer of coconut oil in the world.
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As of 2021-22, India is the largest coconut producer in the world, with a worldwide production share of 31.45 per cent, which creates ample opportunities for the growth of coconut oil market.
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Coconut farmers situated in Karumalloor panchayat, India, announced the launch of coconut oil in January 2024 under the Keragram program, a program that aims to boost coconut production.
Coconut Oil Market Growth
Rising usage of coconut oil for cooking purposes, skincare, and in the dental care sector are some of the prominent market drivers. In the skincare sector, it can be used to provide moisture to the skin, offer relief from skin conditions such as dermatitis, and act as a conventional sunscreen. As per a study published in the National Library of Medicine, coconut oil can block around 20 percent of sun rays.
Moreover, virgin coconut oil may possess antioxidant properties that can reduce stress levels and help combat depression. Coconut oil demand is further boosted for its use in the dental care sector for oil-pulling purposes as it can reduce bacteria Streptococcus mutans and lower the risk of inflammation and plaque.
Companies are formulating innovative products with the implementation of coconut oil. For instance, AAK announced the launch of AkoVeg 163-14 in March 2024, a blend of coconut oil and insoluble fibre flake, which can develop plant-based meat, with no cholesterol.
Coconut Oil Market Report Snapshots
Coconut Oil Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the coconut oil industry reached an approximate volume of 3.90 Million Tons.
The market is estimated to grow at a CAGR of 1.20% between 2025 and 2034.
The market is estimated to witness a healthy growth during 2025-2034 to reach around 4.39 Million Tons by 2034.
The market is being driven due to the rising usage of coconut oil for cooking purposes, skincare, and in the dental care sector.
The key trends aiding the market include a shift towards organic farming, technological advancements in the production process, and growing usage in developing economies.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Based on nature, market segmentations include organic and conventional.
Different product types are RBD, virgin, and crude.
The major players in the market are Cargill Inc., Archer-Daniels-Midland Company, Bunge Limited, Greenville Agro Corporation, Adams Group, The Coconut Company, Tantuco Enterprises, Inc., CIIF OMG, Royce Food Corporation, and Mangga Dua.
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