The coconut oil market in Belgium recorded a volume of 44.139 million kilograms in 2023. Over the past decade, the market experienced fluctuations, moving from a high of 47.4 million kilograms in 2013 to a low of 41.247 million kilograms in 2018. The year-on-year variation over the last two years has been relatively stable, with minor increases around 0.28%. The last five years have shown an average annual growth rate (CAGR) of 1.36%. The forecast for the next five years predicts a subdued growth rate, with a 5-year CAGR of 0.21% leading to a volume of 44.732 million kilograms by 2028.
Future trends to watch for:
- Potential shifts in consumer preferences towards healthier fats and oils.
- The impact of sustainability efforts and eco-friendly production practices on market demand.
- Fluctuations in global coconut production due to climate change, which could affect supply and pricing in Belgium.
