The production of coconut oil in Belgium began in 2015 at 1,930 metric tons. It peaked in 2017 at 2,950 metric tons before showing a general decline. By 2023, production stood at 2,340 metric tons. Notable fluctuations include a significant 40.96% increase from 2015 to 2016 and a -16.46% decline from 2017 to 2018. The Compound Annual Growth Rate (CAGR) over the past five years shows a decrease of -1.05%. Forecasts for the next five years predict a continued decline, with a 2028 forecasted 5-year CAGR of -1.33%, leading to an overall reduction in production by 6.49%.
Future trends to watch for include:
- Sustainability practices and regulations impacting production.
- Market demand shifts driven by consumer preferences for plant-based oils.
- Technological advancements in extraction and production processes.
- Global supply chain influences and competition from major coconut oil producers.