The import of coconut (copra) oil or fractions simply refined into Canada is projected to increase consistently from 2024 to 2028, with values rising from 57.184 million USD in 2024 to 61.722 million USD in 2028. As of 2023, the actual figures showed a similar upward trend, supporting the forecasted growth. Year-on-year variations indicate a steady increase, aligning with global trends towards healthier cooking oils and an amplified interest in plant-based products. Over the last two years, the data shows a positive growth trajectory, whereas the five-year compound annual growth rate (CAGR) reflects stable market expansion.
Future trends to watch for:
- Changes in consumer behavior towards sustainable and health-oriented products could further stimulate demand.
- Trade policies and tariff adjustments affecting import costs.
- Potential supply chain disruptions impacting product availability and pricing.
- Increasing competition from other plant-based oils in the North American market.
