Virgin Coconut Oil Projection Forecast

Virgin Coconut Oil Projection Forecast

Coconut, a type of plant that’s common in tropical countries, with Indonesia, India, and Philippines are the major producers. The benefits and uses of the plant has been known for decades and the awareness of using it as part of the lifestyle is increasing, giving a positive outlook for various coconut-related products, to ramp up production and fit with the global demand, particularly virgin coconut oil.

Why Coconut Oil?

Coconut oil significant feature is the medium-chain fatty acids that are proven to be beneficial for our health, as proven in number of studies. This fatty acid is easily digestible and directly use for energy (instead being stored as fat). the oil is highly nutritious, and versatile enough to be used in cooking, beauty, and health. With virgin coconut oil (VCO), the effect is multiplied.

virgin coconut oil
Credit: Taste of Tonga

Market Forecast For Virgin Coconut Oil

Global market for VCO is expected to increase it’s compound annual growth rate (CAGR) as far as 11%, as shown by a significant impact made last year (2016), with countries in Asia Pacific holds the largest revenue for the oil and predicted to be a dominant region for forecast period 2016-2023.

Other regions: North and Latin America, Europe, and Middle East.

The significant high demand is due to consumers acknowledging the benefits and the public getting more health conscious than ever before, as shown by the ever increasing trend of going green, preventative medicine, nutraceutical-based products, and home remedies, and simply incorporating VCO as part of the diet in healthy lifestyle. This prompts both key merchant and local manufacturers to invest and research for VCO, due to increase in popularity and competition.

A useful read; to know more the kinds of packaging used to export/import virgin coconut oil.

Source: LinkedIn

Source: 1,2,3

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