The coconut oil market in Malaysia exhibited fluctuating trends between 2014 and 2023. In 2023, the market size volume reached 40,000 metric tons, marking a year-on-year growth of 2.56%. Over the last two years, the market has seen modest growth with a consistent year-on-year increase of 2.56%. The five-year CAGR leading up to 2023 was 0.51%, showing a gradual upward trend. Historically, the market experienced significant volatility, such as an 18.18% increase in 2015 and a 12.82% decrease in 2016. Other notable fluctuations include an 11.43% rise in 2018 and minor declines in 2019 and 2020.
Future trends to watch for include:
• A forecasted 5-year CAGR of 0.78%, suggesting steady but modest growth.
• Expected market volume of 41.85 thousand metric tons by 2028, representing a 3.95% growth rate over the forecast period.
• Continued monitoring of global coconut oil prices and demand shifts driven by health trends and consumer preferences.
