The historical demand for coconut oil in Thailand has shown some fluctuations from 2014 to 2023, starting at 34.0 Thousand Metric Tons in 2014 and hovering around 33.0 Thousand Metric Tons through several years, with a minor dip to 31.35 Thousand Metric Tons in 2020. The value in 2023 stands at 33.0 Thousand Metric Tons, showing stabilization after minor year-to-year changes.
Year-on-year variations reveal fluctuations, with notable increases in 2017 (+6.06%) and decreases in 2018 (-5.71%) and 2020 (-5.00%). The Compound Annual Growth Rate (CAGR) for the past five years (up to 2023) is 0%, reflecting overall stability in the demand during this period.
Forecasts indicate a slight declining trend, with the demand expected to decrease to 32.68 Thousand Metric Tons by 2028, representing a negative CAGR of -0.14% and a total forecasted decline of -0.71% over the next five years.
Future trends to watch for include potential market influences such as changes in consumer preferences towards healthier or alternative oils, environmental concerns, and innovations in coconut oil applications. These factors could affect the demand trajectory positively or negatively.
