In 2023, coconut oil domestic food consumption in the US was estimated to be slightly below the forecasted 192 thousand metric tons for 2024. The forecast indicates a steady annual increase, with consumption expected to reach 195 thousand metric tons by 2028. This translates to a year-on-year growth of roughly 0.5-0.6% from 2024 to 2028, with a cumulative average growth rate (CAGR) of 0.5% over the five-year period.
Future trends to watch for include shifts in consumer preferences toward healthier cooking oils, potential innovations in coconut oil products, and any changes in health guidelines impacting oil consumption. Monitoring the import-export dynamics and price fluctuations can also provide insights into market stability.
