Coconut oil demand in Kenya showed steady consumption from 2014 to 2017, with negligible variation at 4.0 thousand metric tons. Demand surged in 2018 by 25%, stabilizing at 5.0 thousand metric tons until 2023, aside from a slight dip to 4.75 in 2020. The 2023 figure stands at 5.0 thousand metric tons, highlighting no year-on-year change. The compound annual growth rate (CAGR) over the last 5 years reached 0.96%, projecting a growth to 5.35 thousand metric tons by 2028.
Future trends to watch:
- Potential market expansion due to growing health awareness.
- The impact of economic factors on purchasing power and demand.
- Innovation in product applications driving increased usage.
- Environmental and sustainability considerations influencing consumer preferences.
