A coil component includes a wound coil having a winding portion, including at least one turn, and a lead-out portion extending from an end portion of the winding portion to form a separation space, together with the winding portion, the wound coil being formed of a metal wire having a surface on which an insulating coating portion is disposed, a body embedding the wound coil therein and including magnetic powder particles and an insulating resin, and an insulating layer disposed on at least one of a surface of the winding portion and a surface of the lead-out portion forming the separation space.