The Philippines remains the dominant player in global coconut oil production with a share of 36.7 thousand metric tons, although it saw a slight decline of 1.45% in 2023. Indonesia follows closely with 28.6 thousand metric tons, experiencing a 1.77% decrease. India holds the third position at 9.52 thousand metric tons, but faced a notable dip of 3.48%. Vietnam and Mexico saw marginal increases, signifying stability.
Countries like Mozambique and Ghana exhibited significant growth rates of 2.53% and 2.71% respectively. Conversely, Malaysia and Vanuatu experienced declines, with Malaysia dropping by 3.2% and Vanuatu by 4.36%. Noteworthy is the impressive 8.45% annual increase recorded by Belgium, although it remains a smaller player in the industry.
Future trends to watch include potential market shifts due to environmental concerns and sustainable practices. Emerging markets such as Ghana and Jamaica could see increased shares, while established leaders may invest in innovation and sustainability to maintain their positions.
Top countries in Coconut Oil Production Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Philippines | 36.7 | 2023 | -0.29% | -1.45% | View data |
| 2 | 2 Indonesia | 28.6 | 2023 | -0.62% | -1.77% | View data |
| 3 | 3 India | 9.52 | 2023 | -2.55% | -3.48% | View data |
| 4 | 4 Vietnam | 6.18 | 2023 | +0.58% | +0.82% | View data |
| 5 | 5 Mexico | 4.69 | 2023 | 0% | +0.15% | View data |
| 6 | 6 Bangladesh | 2.31 | 2023 | +1.56% | +0.63% | View data |
| 7 | 7 Sri Lanka | 2.1 | 2023 | +1.72% | +1.41% | View data |
| 8 | 8 Malaysia | 1.21 | 2023 | -2.86% | -3.2% | View data |
| 9 | 9 Mozambique | 1.21 | 2023 | 0% | +2.53% | View data |
| 10 | 10 Thailand | 1.03 | 2023 | 0% | 0% | View data |
