Between 2014 and 2023, Italy's coconut oil import volume exhibited fluctuations, with significant year-on-year variations, such as the 14.49% decline in 2016, followed by a 15.25% rise in 2017. Despite these fluctuations, the general trend shows a steady increase, culminating in an import volume of 81.0 Thousand Metric Tons in 2023. The most recent data indicates a modest year-on-year increase of 1.25% for 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged at 0.5%, which is lower than the 3.5% CAGR observed in previous periods.
Forecast data from 2024 onward suggests that Italy’s coconut oil import volume will continue to grow, albeit at a slower pace. By 2028, an import volume of 86.0 Thousand Metric Tons is anticipated, reflecting a forecasted 5-year CAGR of 0.96% and an overall growth rate of 4.88% for this period.
Future trends to watch for:
- Increasing demand for natural and organic products which may influence coconut oil imports.
- Potential supply chain disruptions impacting import volumes.
- Regulatory changes affecting import tariffs and quotas.
- Emerging alternative oils affecting coconut oil's market share.