The Latin America, Middle East and Africa Extra Virgin Coconut Oil Market would witness market growth of 11.0% CAGR during the forecast period (2024-2031). In the year 2026, the LAMEA market's volume is expected to surge to 145.16 hundred tonnes, showcasing a growth of 12.2% (2024-2031).
Organic Extra Virgin Coconut Oil (OEVCO) has witnessed a surge in demand due to its versatile uses and numerous advantages. In the culinary realm, OEVCO serves as a healthier alternative to traditional cooking oils, boasting a high smoke point and a distinctive flavor. Thus, the Argentina market consumed 7.60 hundred tonnes of extra virgin coconut oil in the market 2023.
The Brazil market dominated the LAMEA Extra Virgin Coconut Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $105.2 Million by 2031. The Argentina market is registering a CAGR of 11.8% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 10.6% during (2024 - 2031).
Consumers increasingly seek organic and sustainable products, including EVCO. They will pay premium prices for certified organic, fair trade, or sustainably sourced products. As a result, there's a growing market for EVCO that is produced using eco-friendly and ethical practices.
Moreover, EVCO is a sought-after ingredient in cosmetics and personal care products because of its nourishing and moisturizing qualities. Companies are incorporating EVCO into skincare formulations, hair care products, and cosmetics to capitalize on its natural and sustainable appeal.
The Dubai Chamber of Commerce and Industry signifies that eCommerce will develop $8 billion in sales by 2025 as the UAE region has nearly 100% internet and mobile phone penetration. Customers in the UAE can easily and conveniently buy EVCO products from the comfort of their homes or mobile devices due to e-commerce platforms.
Free Valuable Insights: The Worldwide Extra Virgin Coconut Oil Market is Projected to reach USD 4.8 Billion by 2031, at a CAGR of 4.3%
Based on End Use, the market is segmented into B2B, and B2C. Based on Packaging, the market is segmented into Metal Cans, Plastic Bottles, and Pouches. Based on Type, the market is segmented into Organic, and Conventional. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By End Use (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Packaging (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Type (Volume, Hundred Tonnes, USD Billion, 2020-2031)
By Country (Volume, Hundred Tonnes, USD Billion, 2020-2031)
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