In 2023, the supply of coconut oil in the US was recorded at 545.0 thousand metric tons. Forecasted figures for the upcoming years indicate a steady and slight increase in supply from 548.0 thousand metric tons in 2024 to 553.0 thousand metric tons in 2028. This demonstrates an annual average growth rate of around 0.4% over the five-year period.
Year-over-year variations are as follows:
- 2025: 0.18%
- 2026: 0.18%
- 2027: 0.36%
- 2028: 0.18%
The CAGR over the last five years stands at approximately 0.4%, reflecting a modest but consistent increase.
Future trends to watch for include potential disruptions in global supply chains, changing weather patterns affecting coconut production, and evolving consumer preferences towards sustainable and plant-based products, which may influence demand and supply dynamics in the coconut oil market.
