The import of coconut (copra) oil or fractions simply refined to Italy has shown consistent growth from 2013 to 2023, with volumes increasing from 23.146 million kilograms in 2013 to 33.501 million kilograms in 2023. The year 2023 saw a year-on-year variation of 2.27%, continuing a trend of annual growth, albeit at a decreasing rate. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) is 1.74%, indicating steady growth. Forecasts for the next five years (2024-2028) expect a slower growth rate with a forecasted 5-year CAGR of 1.57%, leading to an accumulated growth rate of 8.11% by 2028.
Future trends worth monitoring include:
- Price fluctuations of raw materials affecting import costs.
- Changes in consumer preferences towards coconut oil and its derivatives.
- Potential trade policies impacting import regulations.
- Sustainability and environmental concerns shaping market demand.