Virgin Coconut Oil Price Trend and Forecast
Get comprehensive insights into the Virgin Coconut Oil market, with a focused analysis of the Virgin Coconut Oil price trend across Asia, Europe, North America, Latin America, and the Middle East & Africa.
Virgin Coconut Oil Price Trend for the First Half of 2024
Asia
In the Asian markets, virgin coconut oil experienced a notable increase in demand during the first half of 2024. This surge was attributed to the rising global awareness of the health benefits associated with virgin coconut oil, including its potential as a natural remedy and its versatility in culinary applications. The first quarter saw a modest but consistent uptick in interest, while the second quarter reflected a more pronounced rise in demand, particularly as warmer weather encouraged consumers to seek lighter cooking oils and natural health products.
Virgin Coconut Oil Price Chart
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The Philippines, a primary producer of virgin coconut oil, reported an increase in export inquiries from various international markets, particularly from health-conscious regions in Europe and North America. This heightened interest was further supported by the ongoing trend of consumers prioritizing organic and natural products, positioning virgin coconut oil as a preferred choice. The Philippine Coconut Authority (PCA) indicated that the output of virgin coconut oil remained stable, with processing facilities ramping up to meet the burgeoning demand. However, factors such as climate variability and supply chain disruptions continued to pose challenges for consistent production levels.
Europe
In Europe, the upward trajectory of virgin coconut oil prices mirrored trends observed in the Asian markets. As European consumers increasingly leaned towards health-oriented dietary choices, the demand for virgin coconut oil surged. The region's reliance on imports from Asia made it sensitive to changes in production levels and market dynamics. Throughout the first quarter, prices held relatively steady, but as consumer awareness grew, particularly regarding the oil's applications in skincare and hair care, an upward shift became evident. By the end of the second quarter, while some normalization in demand was anticipated, the overall sentiment remained positive as consumers continued to explore the diverse uses of virgin coconut oil in both culinary and cosmetic applications.
North America
The North American market followed a similar pattern, reflecting increased consumer interest in natural oils. Initially, the market faced challenges due to slower consumer uptake. However, as health trends shifted and more individuals sought alternatives to processed oils, virgin coconut oil began to gain significant traction. Retailers reported a marked increase in sales as awareness campaigns highlighted the product's numerous benefits.
Analyst Insight
According to procurement resources, the demand for virgin coconut oil is expected to remain strong, prices may stabilize as production increases to meet this growing interest.
Procurement Resource provides latest prices of Virgin Coconut Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Virgin coconut oil is extracted from fresh coconut meat without the use of chemicals or high heat, preserving its natural flavor and nutrients. Rich in medium-chain fatty acids, particularly lauric acid, it offers various health benefits, including antimicrobial and anti-inflammatory properties. Beyond culinary uses, it's popular in cosmetics for its moisturizing effects and in the pharmaceutical industry as a carrier oil. Its versatility extends to industrial applications, such as in biofuels and lubricants, making it a valuable resource across multiple sectors.
Report Features | Details |
Product Name | Virgin Coconut Oil |
CAS number | 8001-31-8 |
HS Code | 15131900 |
Industrial Uses | Food Industry, Cosmetic and Personal Care Products, Pharmaceuticals, Biofuels, Nutraceuticals, Soap and Detergent Manufacturing, Textile Industry, Adhesives and Sealants, Lubricants |
Supplier Database | Barlean's, Hain Celestial Group, Nutiva Inc., Carrington Farms, La Tourangelle, Celebes Coconut Corporation, Greenville Agro Corporation, SC Coco Products, Inc, Naturoca, Farmerindia, Viva Naturals |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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