The Philippines leads global coconut oil distribution with 27.83 thousand metric tons, despite a slight decline of 1.46% in 2023. Indonesia follows with 19.47 thousand metric tons, showing a marginal increase of 0.34%. India and the United States exhibit moderate growth, particularly the U.S. with a 3.76% rise. Emerging markets like Vietnam, Sri Lanka, and Thailand display notable increases, with Thailand at 10.68%. China's growth is significant at 4.45%, while established markets like Malaysia and South Korea faced slight declines. Singapore, Russia, and Norway saw sharper contractions, indicating shifting market dynamics.
Future trends suggest that demand might shift towards emerging economies as they increasingly adopt coconut oil products. The U.S. and China may continue to see growth driven by consumer trends favoring health and wellness. Conversely, mature markets may experience stagnation or minimal growth, prompting them to explore diversification into premium or value-added coconut oil products.
Top countries in Coconut Oil Distribution Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Philippines | 27.83 | 2023 | +4.99% | -1.46% | View data |
| 2 | 2 Indonesia | 19.47 | 2023 | -6.57% | +0.34% | View data |
| 3 | 3 India | 10.82 | 2023 | +0.87% | +0.7% | View data |
| 4 | 4 United States | 8.94 | 2023 | +14.77% | +3.76% | View data |
| 5 | 5 Malaysia | 4.07 | 2023 | -31.77% | -0.82% | View data |
| 6 | 6 China | 3.42 | 2023 | +18.92% | +4.45% | View data |
| 7 | 7 Vietnam | 3.06 | 2023 | -1.01% | +0.1% | View data |
| 8 | 8 Papua New Guinea | 1.91 | 2023 | -0.81% | +9.82% | View data |
| 9 | 9 Sri Lanka | 1.77 | 2023 | -16.79% | +7.61% | View data |
| 10 | 10 Thailand | 1.45 | 2023 | -9.71% | +10.68% | View data |
