DUBLIN--(BUSINESS WIRE)--The "World - Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends and Insights" report has been added to ResearchAndMarkets.com's offering.
The global coconut oil market revenue amounted to $5.9B in 2018, going down by -3.7% against the previous year.
This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, coconut oil consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the market value increased by 18% year-to-year. Global coconut oil consumption peaked at $6.1B in 2017, and then declined slightly in the following year.
Consumption By Country
The countries with the highest volumes of coconut oil consumption in 2018 were the U.S. (507K tonnes), Indonesia (443K tonnes) and India (385K tonnes), with a combined 38% share of global consumption. The Philippines, Germany, the Netherlands, Viet Nam, China, Malaysia, Mexico and South Korea lagged somewhat behind, together accounting for a further 36%.
From 2011 to 2018, the most notable rate of growth in terms of coconut oil consumption, amongst the main consuming countries, was attained by Malaysia, while the other global leaders experienced more modest paces of growth.
In value terms, India ($1B), the U.S. ($638M) and Indonesia ($545M) constituted the countries with the highest levels of market value in 2018, together accounting for 37% of the global market. These countries were followed by Mexico, the Philippines, Germany, the Netherlands, Viet Nam, Malaysia, China and South Korea, which together accounted for a further 33%.
In 2018, the highest levels of coconut oil per capita consumption was registered in the Netherlands (10,511 kg per 1000 persons), followed by Malaysia (4,269 kg per 1000 persons), the Philippines (2,639 kg per 1000 persons) and Germany (2,237 kg per 1000 persons), while the world average per capita consumption of coconut oil was estimated at 457 kg per 1000 persons.
From 2011 to 2018, the average annual rate of growth in terms of the coconut oil per capita consumption in the Netherlands totaled +2.6%. In the other countries, the average annual rates were as follows: Malaysia (+8.6% per year) and the Philippines (-6.2% per year).
Market Forecast 2019-2025
The coconut oil market is expected to start a downward consumption trend over the next seven years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -1.3% for the seven-year period from 2018 to 2025, which is projected to depress the market volume to 3.2M tonnes by the end of 2025.
Global coconut oil production stood at 3.2M tonnes in 2018, remaining constant against the previous year. Overall, coconut oil production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 6.2% y-o-y. Global coconut oil production peaked at 3.3M tonnes in 2012; however, from 2013 to 2018, production stood at a somewhat lower figure.
In value terms, coconut oil production stood at $5.2B in 2018 estimated in export prices. Over the period under review, coconut oil production continues to indicate a measured deduction. The most prominent rate of growth was recorded in 2014 when production volume increased by 31% y-o-y. Global coconut oil production peaked at $6.1B in 2011; however, from 2012 to 2018, production failed to regain its momentum.
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