The global Virgin Coconut Oil (VCO) Market continues to gain attention as consumers increasingly shift toward natural and organic products for food, beauty, and health applications. According to MarketsGlob’s latest analysis, the market size reached USD 801 million in 2024 and is projected to reach USD 932.80 million by 2031, expanding at a CAGR of 2.2% during the forecast period (2025–2031).
What Is Virgin Coconut Oil?
Virgin Coconut Oil is extracted from fresh coconut meat using mechanical or natural processes without the use of heat or chemicals. This method retains its natural antioxidants, vitamins, and beneficial fatty acids. It is widely recognized for its nutritional value, antibacterial properties, and versatility in both food and personal care products.
Unlike refined coconut oil, VCO maintains its coconut aroma and flavor, making it suitable for direct consumption, cooking, skincare, and medical uses.
Market Overview
The Virgin Coconut Oil market has been witnessing steady growth across global regions due to rising consumer awareness about the health benefits of natural oils. Increasing demand from the food, beauty, and pharmaceutical industries is fueling this trend.
With consumers preferring chemical-free products and functional foods, the use of VCO has become more prominent in dietary supplements, organic skincare formulations, and wellness products. The Asia-Pacific region, particularly countries like India, the Philippines, Indonesia, and Sri Lanka, remains the key production hub, while demand is rising in North America and Europe.
Key Market Highlights
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Global Market Size (2024): USD 801 million
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Forecast (2031): USD 932.80 million
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CAGR (2025–2031): 2.2%
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Key Applications: Food, Cosmetics, and Medical
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Top Players: NMK Holdings, Greenville Agro Corporation, Celebes, SUN BIO Naturals, and others
Latest Market Developments
The industry has seen gradual modernization among regional producers. Leading companies are focusing on export expansion, product innovation, and packaging upgrades to attract global customers.
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Greenville Agro Corporation continues to strengthen its export network for coconut-based oils and related food products.
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Celebes Coconut Corporation has been expanding its product range and reinforcing its reputation as a key supplier of high-quality virgin coconut oil.
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Sakthi Exports and SUN BIO Naturals India Pvt Ltd are enhancing their organic certification and production capacities to cater to growing demand from Western countries.
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NMK Holdings Pvt Ltd has been improving its VCO product lines, aligning with the global clean-label and sustainable sourcing trends.
Though large-scale mergers and acquisitions have been limited in 2024–2025, the market’s competitive landscape remains active with product diversification and private-label collaborations among top exporters.
Market Drivers
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Growing Demand for Natural and Organic Products
Consumers are becoming increasingly conscious of ingredients in personal care and food items. Virgin coconut oil, known for its antioxidant and antimicrobial properties, aligns with this demand for clean, natural, and safe products. -
Expanding Applications in Food and Beverage Industry
VCO is used as a healthy cooking oil alternative due to its high medium-chain triglycerides (MCTs). It is also used in bakery products, snacks, and dairy alternatives. -
Rising Usage in Cosmetics and Skincare
The beauty and personal care sector is a major growth driver. Virgin coconut oil is widely used in lotions, shampoos, and creams for its moisturizing and anti-inflammatory effects. -
Health and Wellness Trend
With growing awareness of the benefits of natural fats and oils, VCO is gaining acceptance as a supplement for heart health and weight management. -
Increase in E-commerce Sales and Direct Channels
The online retail sector has made it easier for small and mid-size producers to reach global consumers, enhancing sales opportunities through direct and distribution channels.
Market Segmentation
Product Type:
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Virgin Coconut Oil – Traditional extraction, suitable for multiple uses.
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Extra Virgin Coconut Oil – Premium grade with enhanced purity and aroma.
Application:
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Food: Used in cooking, baking, and as a health supplement.
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Beauty and Cosmetics: Applied in skincare, haircare, and body care products.
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Medical: Utilized in pharmaceuticals and alternative therapies.
Sales Channel:
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Direct Channel: Manufacturers selling directly to end-users or retailers.
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Distribution Channel: Sales via distributors, exporters, and online stores.
Regional Insights
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Asia-Pacific:
Dominates the global production, led by the Philippines, India, and Indonesia. Abundant coconut supply and traditional production methods support growth. -
North America:
Increasing awareness of natural products and organic certifications drive strong demand, especially in the U.S. and Canada. -
Europe:
The region has seen a rise in consumption of plant-based and organic oils, with the U.K., Germany, and France leading the adoption. -
South America:
Emerging markets like Brazil and Colombia are expanding their import and local processing capacities. -
Middle East & Africa:
Slowly growing market supported by increasing distribution partnerships and retail expansion.
Competitive Landscape
The Virgin Coconut Oil market features a mix of established producers and regional exporters. Key players focus on quality consistency, certifications, and expanding export networks. Some are exploring collaborations with cosmetic and nutraceutical brands to widen their reach.
Key Companies Include:
NMK HOLDINGS PRIVATE LIMITED, Greenville Agro Corporation, P.T. Harvard Cocopro, Naturoca, SUN BIO NATURALS INDIA PRIVATE LIMITED, Celebes, Sakthi Exports, NATURE PACIFIC PTY LTD, Cocomate, Manchiee De Coco, KKP Industry, Genius Nature Herbs Pvt Ltd, Keratech, Harin Bio-Tech International Pvt Ltd.
The global Virgin Coconut Oil market will continue its gradual expansion through 2031, driven by the ongoing preference for organic, vegan, and sustainable ingredients. While growth is steady rather than rapid, manufacturers investing in value-added processing, eco-friendly packaging, and global certifications are likely to gain a competitive edge.
Additionally, rising partnerships with cosmetic and health product brands will create new revenue streams. Consumers are expected to maintain interest in natural alternatives, ensuring steady market demand in the years to come.
