In 2023, the coconut oil market size volume per capita in Vietnam was 1.14 kilograms. Forecasts indicate a gradual decline over the next five years: 1.13 kg in 2024, 1.12 kg in 2025, 1.12 kg in 2026, 1.12 kg in 2027, and 1.11 kg in 2028. Analyzing the year-on-year variation shows a steady decrease of approximately -0.88% from 2023 to 2024 and -0.88% from 2027 to 2028. Over the last five years, the compound annual growth rate (CAGR) is estimated at -0.53%, indicating a slow but consistent decline.
Future trends to watch for include shifts in health and wellness trends, which may influence consumer preference towards or away from coconut oil. Additionally, exploring sustainable and organic coconut oil production could potentially boost consumption rates, altering the forecasted decline.
