The demand for coconut oil in the Philippines saw a notable trend. In 2023, the volume stood at approximately 108.15 thousand metric tons. The forecasted data for 2024 shows a demand decrease of 6.02%, followed by further reductions of 6.10%, 6.70%, 7.16%, and 7.01% year-on-year from 2025 to 2028 respectively. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is -5.04%.
Future trends to watch for include the increasing competition from alternative vegetable oils, potential changes in health trends and dietary preferences, as well as economic factors that might influence consumer purchasing power and export potential. Additionally, shifts in global trade dynamics and possible government policies promoting or deterring the use of coconut oil could significantly impact future demand.
