The analysis of coconut oil import volumes in Norway reveals a forecasted decline from 2024 through 2028. Starting at 900.0 metric tons in 2024, it decreases steadily to 650.0 metric tons by 2028. In 2023, the import volume stood at 970.0 metric tons, reflecting a negative year-on-year variation: -7.22% from 2023 to 2024, -6.67% from 2024 to 2025, -8.33% from 2025 to 2026, -7.79% from 2026 to 2027, and -8.45% from 2027 to 2028. The overall compound annual growth rate (CAGR) for this five-year period indicates an average annual decline of -7.29%.
Future trends to watch for:
- Changes in consumer preferences toward alternative oils.
- Impact of global coconut production fluctuations due to climate change.
- Trade policies affecting import costs and volumes.
- Innovations in coconut oil substitutes and their market uptake.