The volume of the coconuts and copra market in North America grew steadily from 88.0 to 97.0 thousand metric tons between 2014 and 2023, with minor fluctuations in certain years. The most notable growth occurred from 2017 to 2018, where there was a 5.49% increase. Recent years have shown minimal year-on-year variation; for instance, both 2022 and 2023 saw negligible growth rates of 1.04% and 0%, respectively. The compound annual growth rate (CAGR) over the past five years stood at 0.21%.
Future forecasts indicate a gradual increase in market size, reaching up to 100.0 thousand metric tons by 2028, with an anticipated five-year CAGR of 0.4%. Key trends to watch include evolving consumer preferences for coconut-based products driven by health and wellness trends, coupled with potential supply chain impacts. Sustainability practices and innovations in coconut products could also strongly influence market dynamics in the coming years.
Key variations and trends:
- Minimal year-on-year growth observed from 2022 to 2023
- Notable period of higher growth between 2017 and 2018
- CAGR of 0.21% over the last five years
