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The market for coconut oil in India is being aided by the growing industrial, commercial, and domestic applications. The increasing use of coconut oils in hair care applications is surging the demand for the product, which is propelling the market growth. With the growing utilisation of coconut oil in household cooking, especially in the Southern part, the market is witnessing robust growth. Moreover, coconut oil is used in the production of soaps and bakery products, which is significantly contributing to the growth of the market. As the demand for organic coconut oils is increasing, the focus on the sustainable production of the product is rising, which is providing further impetus to the growth of the market.
Marico Limited (NSE: MARICO), one of the leading companies in the market, launched a range of vegan gourmet products under its brand Coco Soul in April 2019. The range includes 100% natural virgin coconut oil, 100% organic virgin coconut oil, as well as 100% natural infused variants of cold-pressed virgin coconut oils. The oils are extracted from cold-pressed processes to preserve the flavours, nutritional components, and aroma of natural coconuts. The oils are rich sources of medium-chain triglycerides (MCT’s), which makes them easy to digest. Moreover, they provide an instant energy boost and aid in weight management while supporting cognition. The range also features cold-pressed virgin coconut oils infused with hot chilli, delectable oregano, cinnamon, and coriander to be used in versatile cooking applications. The development of such innovative products by the leading companies is increasing the use of coconut oil, which is augmenting the market growth.
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The major players in the India coconut oil market are Marico Limited, Dabur India Ltd., Patanjali Ayurved Limited, Shalimar Chemical Works Private Ltd., Nutiva Inc., Davidsun Coconut Products (DCP), and Sri Sellandiamman Oil Mill, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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