The forecast for coconut oil non-food uses in the US shows a steady decline over the 2024-2028 period from 290.0 thousand metric tons in 2024 to 261.0 thousand metric tons in 2028. In 2023, the actual usage stood at a similar level to 2024's forecast. This declining trend reflects a year-on-year decrease ranging from approximately 2.4% to 2.6% over the years. The compound annual growth rate (CAGR) presents an average annual decline of approximately 2.6%.
Future trends to watch include potential shifts in consumer preferences towards sustainable and eco-friendly products, advancements in alternative oils, and regulatory changes impacting coconut oil applications in various industries. Sustainability initiatives and innovation in alternative applications could influence demand trajectory.
