Coconut oil is made up of a mixture of saturated, monounsaturated and polyunsaturated fats. The oil contains nearly 12 g of saturated fat. This is approximately 60 percent of daily recommended saturated fat intake for humans. As per American Heart Association’s recommendations the intake of saturated fats in foods should be less. Saturated fat intake can affect human health due to increase in cholesterol levels, leading to an increased risk of heart disease. While it is high in saturated fat content, the coconut oil also contains heart-healthy polyunsaturated and monounsaturated fats that are important for brain function and overall growth and development.
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Coconut Oil Market: Segmentation
The coconut oil market can be segmented into applications, packaging, product type, and distribution channel. Coconut oil market finds applications in food, household detergents, metalworking fluids, paints and coatings, soaps, textile chemicals, plastic industry and pharmaceuticals and cosmetic industry. On the basis of packaging, the coconut oil market is divided into steel drums, flexi tanks/iso tanks, carboys, plastic bottles, squeeze tubes, glass jars, and pails. On the basis product type, the coconut oil market is segmented as distilled, partially hydrogenated, fully hydrogenated, low white or low whole products. On the basis distribution channels, the coconut oil market is segmented as manufacturers, super stockist, wholesalers, retailers, online retailers and convenience stores.
Coconut Oil Market: Regional Outlook
Asia is the largest user of coconut oil owing to the presence of tropical regions, and coconut production being a good pastime. Coconut oil is majorly produced in countries like India, Indonesia, and Philippines. But the coconut oil market has gone up even in countries like the USA. There has been an exponential demand for coconut oil because of its multiple health benefits from the years 2006-2014. Also, there has been an increase in demand for the coconut oil from Europe since the year 2016. The Philippines has stated that the coconut oil demand rose from Europe as compared to the past decade.
Coconut oil Market: Drivers, Restraints, and Trends
Coconut oil market is driven by increasing application in as an ingredient in consmetic industry. The coconut oil is not only used as a cosmetic and an enhancement in beauty care but also has nutritional and health benefits. For women opting for shampoos, hair oils, conditioners, sunscreen, and serum- coconut oil has a solution for all these problems as proven by dermatologists.
Increasing health benefits are also driving the coconut oil market over the forecast period. It is emerging as a better option for cardiovascular patients because, due to its unsaturated fatty acid content, it lowers heart attack risk for these patients. Besides, coconut oil production is low in regions such as Europe and USA whereas the demand increases, and due to less available resources, the price for this product also goes on increasing and hence, coconut oil makes is desirable for investors.
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Coconut Oil Market: Key Players
Some of the key manufacturers in the coconut oil market are: Parachute, A.B. Enterprises, PT MANGGA DUA, Flower Song Fine Chemical Co Ltd., EPS IMPEX CO., J.K.International, Irmal Middle East, PT General Laju, ADP Southeast Orient Corporation, Shanghai Asia Co.Ltd. And Libra Bioscience Pvt. Ltd. The key stakeholder play a pivotal role and dominate the market by effective development of market strategies.