A coil component includes a body part containing a magnetic material, a coil part disposed in the body part, and an electrode part disposed on the body part. The coil part includes a support member, a first coil layer disposed on at least one surface of the support member, a first insulating layer stacked on at least one surface of the support member and covering the first coil layer, and a second coil layer disposed on the first insulating layer. The first and second coil layers are electrically connected to each other, and the second coil layer has a larger number of coil turns than the first coil layer. Additionally or alternatively, a conductor of the first coil layer has an aspect ratio less than 1. Methods of manufacturing such coil components are also provided.