Why Virgin Coconut Oil Market is Stealing the Spotlight?
Virgin coconut oil also known as mother of all oils, is an edible oil extracted from the the coconut milk and is prepared without any fermentation. The Virgin coconut oil has widely rich properties such as medium chain fatty acids, particularly lauric acid and is a treasure trove of minerals, vitamins, antioxidants and is an excellent nutraceutical. The virgin coconut oil is known for antioxidants, taste, vitamins and its fragrance.
The rise in the shift to branded from packaged coconut oil products; increase in the adoption of environmentally sustainable sourcing practices; and increase in consumer preference for virgin coconut oil across the globe are key driving factors of the virgin coconut oil market. Adoption of coconut oil by various industries such as pharmaceuticals, cosmetics, and F&B due to its excellent anti-micro bacterial properties is one key trend witnessing the market demand.
The key trends witnessing the market growth:
It may helps in treatment of AIDS
It has better taste and fragrance than ordinary oils
It has longer shelf life
It does not go rancid easily
Moreover, the oil has diverse use in various applications owing to its nutritional value which is further expected to propel the market demand.
Tropical countries are the major producers of coconut oil
North America is dominating the global virgin oil market followed by Europe and Asia Pacific. The U.S. is dominating the market in the North America region owing to the vast import. The Indonesia, Burma, Philippines, India, Sri Lanka, and other tropical countries are the major producers of virgin coconut oil. The oil is cheaper in these countries as compared to the dominating regions such as North America and Europe.