RBD (Refined Bleached Deodorized) Coconut Oil market is anticipated to grow at a value CAGR of ~6% over 2019-2028. According to a study published by Insure Insights on the RBD (Refined Bleached Deodorized) Coconut Oil market, the growth is attributed to the increase in the advancements in the field of dermatology. There is a steep rise in the investments for the development of the effective skin care products which are anticipated to boost the industry. Furthermore, the advantages shown by the RBD coconut oil which include the health benefits and other distinctive benefits contributes to the significant growth of the industry in the forecast period.

Top Driver: Better Health Benefits Offered By RBD To Propel The Market Growth

RBD (Refined Bleached Deodorized) Coconut Oil has rich demand in dermatologic applications, which are anticipated to propel the market growth in the coming years. There is little contention about the health benefits of RBD coconut oil. Furthermore, the researchers have graded RBD oil over other types of oils such as sunflower and palm oil. This aspect has played an important role in the growth of the global market. Medical experts recommend the use of RBD coconut oil for the purpose of frying. In addition to this, the odorless nature of this oil has led restaurants and food outlets to line up its usage over other types of oils.

Food and Beverages to Make Crucial Contribution to Growth of Global RBD (Refined Bleached Deodorized) Coconut Oil Market

Among end-use segments of the global RBD (Refined Bleached Deodorized) Coconut Oil market, food and beverage is predicted to show significant growth in future. This owes to the growth in the awareness towards better benefits shown by the RBD coconut oil. According to the researchers, the fats present in the RBD coconut oil aids in fighting inflammation in the body. Henceforth, it is suggested to be used as the primary cooking oil. Furthermore, the effectiveness of RBD (refined bleached deodorized) coconut oil can be utilized for preventing acne, pimples, and red spots on the skin, which would help the market to gain maximum attention in the majority of population and hence propel the industry in the forecast period.

Increase In Consumption to Benefit Asia Pacific Market

Asia Pacific region is predicted to gain highest revenue shares in the forecast period. This is due to the increase in the production and consumption of coconut RBD oil in the region. Furthermore, the growth in the awareness to use RBD Coconut Oil to be used as the edible oil in the region is anticipated to boost the industry in the coming years. North America has been observed to grow significantly due to growing popularity of coconut oil as healthy substitute to other edible oils and further other applications especially in the beauty and cosmetics industry in the near future.

Due to the current pandemic situation of COVID-19, the downfall has been observed in majority of the industry. However, the increase in the awareness programs to have better knowledge regarding the advantages of the coconut oil, would help the industry gain revenue in the coming years.

Players to Focus on Expanding Applications in Food and Beverage Industry

The global RBD (Refined Bleached Deodorized) Coconut Oil market is anticipated to stay fragmented with the increase in the number of new entrants in the coming years. The key players include, Wilmar International, Marico Limited, The HallStar Company, Bunge Limited, Cargill Corporation, Oleo-Fats Incorporated (D&L Industries Ltd.), The Adams Group Inc., and Archer Daniels Midland Company.

Bunge: In February 2020, the producers of plant-based meat alternatives now have a new portfolio of products to help replicate the taste, texture, and cooking experience of meat. Bunge Loders Croklaan, a world leader in oils, fats and emulsifiers, had announced that they showcased their portfolio of solutions for plant-based meats together with its technical expertise at National Products Expo West (NPEW ’20)

Cargill Corporation: In April 2019, Cargill’s cocoa and chocolate business is the first company to use Rainforest Alliance Certified coconut oil sourced through a mass balance model as an ingredient in its coatings and fillings, responding to consumers’ growing demands for sustainably sourced ingredients.

Scope of the Report

By Packaging Type

• Rigid
• Semi Rigid
• Flexible

By Distribution Channels

• Online
• Offline

By End-User

• Food & Beverages
• Pharmaceuticals
• Beauty and Cosmetics

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.