The 2023 data highlights the Philippines as the leading distributor of coconut oil globally, accounting for 1.79 million metric tons, although showing a slight decline of 1.46%. Indonesia follows with 1.25 million metric tons and a modest increase of 0.34%. India also contributes significantly, with 0.696 million metric tons and a 0.7% rise. The United States saw the highest increase among major distributors, with a 3.76% growth. Notable declines were recorded in Singapore, Russia, and Bangladesh, with decreases of 4.9%, 5.83%, and 31.15%, respectively. Papua New Guinea recorded the highest growth rate at 9.82%, reflecting an emerging role in the market.
Future trends to watch in the global coconut oil distribution market include the increasing demand in China, Vietnam, and Thailand, reflecting rapid economic growth and rising consumer awareness. Conversely, be wary of potential declines in traditionally strong markets like the Philippines, Singapore, and Russia due to economic and political factors. Emerging players such as Papua New Guinea and Sri Lanka could gain market share with continued growth.
Top countries in Coconut Oil Distribution by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Philippines | 1,790 | 2023 | +4.99% | -1.46% | View data |
| 2 | 2 Indonesia | 1,250 | 2023 | -6.57% | +0.34% | View data |
| 3 | 3 India | 696 | 2023 | +0.87% | +0.7% | View data |
| 4 | 4 United States | 575 | 2023 | +14.77% | +3.76% | View data |
| 5 | 5 Malaysia | 262 | 2023 | -31.77% | -0.82% | View data |
| 6 | 6 China | 220 | 2023 | +18.92% | +4.45% | View data |
| 7 | 7 Vietnam | 197 | 2023 | -1.01% | +0.1% | View data |
| 8 | 8 Papua New Guinea | 123 | 2023 | -0.81% | +9.82% | View data |
| 9 | 9 Sri Lanka | 114 | 2023 | -16.79% | +7.61% | View data |
| 10 | 10 Thailand | 93 | 2023 | -9.71% | +10.68% | View data |
