From 2014 to 2023, the coconut oil import volume in the UAE exhibited fluctuations, with noticeable peaks in 2018 and 2021, followed by a steady rise to 10.0 thousand metric tons in 2023, marking an 11.11% year-on-year increase. A considerable dip occurred in 2020 (-17% year-on-year) due to external factors, but recovery was swift. The compound annual growth rate (CAGR) over the last five years stands at 2.13%.
Looking ahead, forecasts anticipate a moderate incremental growth, with the volume set to reach 11.03 thousand metric tons by 2028, reflecting a 1.88% CAGR and an overall growth rate of 9.75% over the forecast period. Here are key trends to watch for:
- Potential market impacts of global supply chain disruptions and economic conditions.
- Shifts in consumer preferences towards coconut oil due to health trends or new applications.
- Policy changes in trade agreements or import regulations affecting the UAE.