The coconut oil market size volume in Belgium has shown fluctuations from 2012 to 2022. The market witnessed significant growth in 2013, with a year-on-year increase of 28.33%. However, it then experienced declines in several subsequent years, with notable decreases in 2018 and 2020. The CAGR for the 5-year period leading up to 2022 indicates a negative trend, showing an average annual decrease of 1.69%. As of 2023, the market continued to hover around its recent averages.
Variations over the years:
- 2012-2013: Increase of 28.33%
- 2013-2014: Decrease of 2.79%
- 2014-2015: Decrease of 2.95%
- 2015-2016: Decrease of 5.68%
- 2016-2017: Increase of 7.59%
- 2017-2018: Decrease of 9.11%
- 2018-2019: Increase of 7.6%
- 2019-2020: Decrease of 6.72%
- 2020-2021: Increase of 1.14%
- 2021-2022: Decrease of 0.47%
Future trends to watch for include potential shifts in consumer preferences towards healthier and sustainable products. The market could see impacts from regulatory changes and the growth of organic and fair-trade coconut oil demand. Monitoring these trends will be crucial for stakeholders in the coconut oil market in Belgium.
