A coil component includes a body; an internal insulating layer buried in the body; insulating walls disposed on the internal insulating layer, and including openings each having a planar coil shape having at least one turn; coil patterns including first conductive layers disposed in the openings, and second conductive layers disposed between the first conductive layers and internal surfaces of the openings, and each having a first surface in contact with the internal insulating layer and a second surface opposing the first surface; and a recessed portion formed on the second surface of each of the coil patterns and exposing at least portions of the openings of the internal walls.