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A new market analysis indicates a steady expansion for the global coconut oil market. Valued at USD 5.82 billion in 2023 and estimated to be USD 6.11 billion in 2024, the market is projected to reach a significant USD 8.94 billion by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 5.60% during the forecast period. This growth is primarily driven by increasing consumer awareness of coconut oil's health benefits, its growing versatility across various applications, and the rising demand for natural and organic products.