The Latest Coconut Oil Industry Statistics Explained
As of 2020, the size of the global coconut oil market was valued at USD 4.6 billion.
The statistic stating that as of 2020, the size of the global coconut oil market was valued at USD 4.6 billion reflects the total monetary worth of coconut oil sales worldwide during that year. This figure represents the aggregate value of all transactions involving coconut oil, from production to consumption, across various markets and regions globally. The USD 4.6 billion valuation indicates the significant economic impact of coconut oil as a commodity, highlighting its popularity and demand among consumers for various purposes such as cooking, cosmetics, and pharmaceuticals on a global scale. This statistic serves as a key indicator for stakeholders in the coconut oil industry, helping them understand the market size and potential opportunities for growth and investment.
The coconut oil market is projected to grow at a CAGR of 6.5% during the forecasted period, 2021-2027.
The statement indicates that the coconut oil market is expected to experience consistent and significant growth over the forecasted period from 2021 to 2027, with a Compound Annual Growth Rate (CAGR) of 6.5%. This means that on average, the market value of coconut oil is expected to increase by 6.5% each year during this period. A CAGR of 6.5% suggests a healthy growth trajectory, indicating increasing demand for coconut oil products and potentially favorable market conditions. Overall, this projection suggests that the coconut oil market is likely to expand and present opportunities for businesses operating in this sector.
The Asia-Pacific region accounted for the largest coconut oil market share in 2020, about 64.1%.
The statistic indicating that the Asia-Pacific region held the largest market share of coconut oil in 2020 at 64.1% highlights the dominance of this region in the global coconut oil market. This suggests that a significant portion of the world’s coconut oil production and consumption occurs in countries within the Asia-Pacific region. The high market share also implies that the demand for coconut oil in this region is substantial compared to other regions around the world. Factors such as tropical climate, traditional agricultural practices, and cultural preferences for coconut-based products likely contribute to the region’s strong presence in the coconut oil market. Furthermore, this statistic underscores the importance of the Asia-Pacific region in shaping global trends and dynamics within the coconut oil industry.
The global virgin coconut oil market size was valued at USD 2.7 billion in 2019.
The statistic states that the global market for virgin coconut oil had a total value of USD 2.7 billion in the year 2019. This figure represents the total revenue generated from the sales of virgin coconut oil products worldwide during that year. The market size suggests that there is significant demand for virgin coconut oil products across various regions and industries. Factors such as the increasing popularity of natural and organic products, the perceived health benefits of coconut oil, and the expanding applications of coconut oil in food, cosmetics, and pharmaceuticals could have contributed to the market’s substantial value in 2019. Additionally, this statistic can provide insights for businesses, policymakers, and researchers interested in the coconut oil industry’s economic impact and growth potential.
Indonesia, the Philippines, and India accounted for about 73.5%, 25.6%, and 1.6% of the world coconut production in 2019, respectively.
This statistic describes the distribution of coconut production among three major countries in 2019. Indonesia, the Philippines, and India collectively produced approximately 73.5%, 25.6%, and 1.6% of the world’s total coconut output, respectively. This highlights the significant dominance of Indonesia as the leading producer of coconuts globally, followed by the Philippines in second place and India in third. The data underscores the importance of these countries in the coconut industry, with their combined production accounting for a large majority of the world’s coconut supply. It also reflects the geographical concentration of coconut cultivation in Southeast Asia and South Asia, where the tropical climate and suitable growing conditions support high levels of coconut production.
The Philippine coconut oil industry exported 1.44 million metric tons of coconut oil in 2020.
The statistic reveals that the Philippine coconut oil industry had a significant export output in 2020, with a total of 1.44 million metric tons of coconut oil being exported. This indicates the industry’s strong presence in the global market and its importance in the country’s economy. The high export quantity reflects the demand for Philippine coconut oil internationally, possibly due to its quality, competitive pricing, or the industry’s effective marketing and distribution strategies. The export of such a large volume of coconut oil not only contributes to the country’s export revenues but also showcases the industry’s capability to consistently meet international demand for this essential commodity.
In 2020, the coconut oil market size in India was worth around 1.7 billion U.S. dollars.
The statistic indicates that in the year 2020, the total value of the coconut oil market in India amounted to approximately 1.7 billion U.S. dollars. This figure represents the overall economic significance of coconut oil production, consumption, and trade within the Indian market during that specific time period. The market size is a key indicator of the scale and importance of the coconut oil industry in India, highlighting its contribution to the country’s economy and the demand for coconut oil both domestically and potentially in international markets. Understanding the market size provides insights into the overall economic impact of the coconut oil sector in India and may be used by businesses, policymakers, and stakeholders to make informed decisions and strategic plans related to this industry.
The Philippines’ coconut oil exports are expected to recover by 5.6% to 1.6 million MT in 2021.
The statistic indicates that it is projected for the Philippines to see a 5.6% increase in their coconut oil exports reaching a total of 1.6 million metric tons in the year 2021. This anticipated recovery suggests a positive trend for the country’s coconut oil industry, potentially driven by factors such as rising demand in the global market, improved production capabilities, or enhanced trade agreements. The increase in exports may lead to economic benefits for the Philippines, including potential revenue growth, job creation, and overall sector expansion. Monitoring and analyzing these export trends can provide valuable insights into the country’s agricultural economy and its position in the international market for coconut oil products.
In 2020, around 52,000 tons of coconut oil was produced in Sri Lanka.
The statistic indicates that in the year 2020, Sri Lanka produced approximately 52,000 tons of coconut oil. This figure highlights the significant contribution of the coconut industry to the country’s economy and potentially reflects the importance of coconut oil production within Sri Lanka’s agricultural sector. The production volume of 52,000 tons underscores not only the scale of coconut oil output but also the potential impact on global markets given Sri Lanka’s reputation for high-quality coconut products. This statistic can serve as valuable information for stakeholders involved in the coconut industry, policymakers, and researchers studying the agricultural landscape of Sri Lanka.
By 2028, the global organic virgin coconut oil market is projected to reach $2.3 billion.
The statistic indicates a projection for the global organic virgin coconut oil market to reach a value of $2.3 billion by the year 2028. This forecast suggests significant growth in the market for organic virgin coconut oil, potentially driven by factors such as increasing consumer demand for natural and organic products, growing awareness of the health benefits associated with coconut oil, and expanding distribution channels for these products. The projection serves as a valuable insight for businesses operating in or considering entry into the organic virgin coconut oil market, highlighting the potential opportunities and expected size of the market in the coming years.
In 2019, exports of coconut oil from Malaysia amounted to about 9,600 tonnes.
The statistic stating that in 2019, exports of coconut oil from Malaysia amounted to about 9,600 tonnes reflects the quantity of coconut oil products that Malaysia shipped to other countries within a given year. This metric serves as a measure of the volume of coconut oil that Malaysia produced and sold internationally during that specific time period. Understanding the scale of Malaysia’s coconut oil exports is essential for various stakeholders such as policymakers, industry players, and market analysts to gauge the country’s role in the global coconut oil market, track trade trends, and make informed decisions regarding production, marketing, and trade strategies related to coconut oil products.
The US coconut oil import volume reached 147,490 metric tons in 2020.
The statistic stating that the US coconut oil import volume reached 147,490 metric tons in 2020 indicates the amount of coconut oil that was brought into the United States from other countries during that year. This figure represents the total weight of coconut oil imports in metric tons, highlighting the significant demand for coconut oil in the US market. The volume of imports can be influenced by a variety of factors such as consumer preferences, availability of domestic production, trade agreements, and economic conditions. Analyzing trends in coconut oil imports can provide valuable insights into the US market dynamics, global trade patterns, and the overall demand for coconut oil products.
Around 41% of consumers in the United States used coconut oil in their cooking as of 2020.
The statistic “Around 41% of consumers in the United States used coconut oil in their cooking as of 2020” indicates the prevalence of coconut oil usage in American households. This statistic suggests that approximately four out of every ten consumers incorporate coconut oil into their cooking routines. The popularity of coconut oil in culinary practices may be attributed to its health benefits, such as being rich in medium-chain triglycerides and lauric acid. Additionally, coconut oil has gained popularity as a versatile ingredient in various types of cuisine, including vegan, paleo, and keto diets. As a widely used cooking oil, the statistic underscores the significance of coconut oil in the American culinary landscape as of 2020.
Europe imported 227,000 metric tons of coconut oil in 2020.
The statistic “Europe imported 227,000 metric tons of coconut oil in 2020” indicates that European countries collectively purchased a total of 227,000 metric tons of coconut oil from international markets during the year 2020. This figure reflects the demand for coconut oil within Europe, likely driven by factors such as consumer preferences, industrial usage, and the availability of domestic production. Importing such a significant quantity of coconut oil suggests that it is a key commodity in the European market, highlighting the importance of this product within the region’s economy and trade relationships with coconut-producing countries.
During 2018-2019, Britain purchased 19.43 thousand tonnes of coconut oil products.
The statistic indicates that during the time period of 2018-2019, Britain imported a total of 19.43 thousand tonnes of coconut oil products. This figure highlights the amount of coconut oil products that were purchased and brought into the country for various purposes such as consumption, manufacturing, and other industries. The quantity of 19.43 thousand tonnes serves as a measure of the demand for coconut oil products in Britain during that time frame, reflecting consumer preferences, market trends, and economic factors influencing international trade. This statistic can provide insights into the import patterns of coconut oil products and potential implications for the domestic market and industry in Britain.
Organic coconut oil sales in Italy reached 181.3 tons in 2017.
The statistic states that the sales of organic coconut oil in Italy amounted to 181.3 tons in the year 2017. This indicates the volume of organic coconut oil products that were purchased or consumed in Italy during that specific year. The data provides insight into the popularity and demand for organic coconut oil in the Italian market at that time, suggesting a trend towards consumers choosing organic and healthier options in their food and beauty products. The statistic can be used by businesses in the organic coconut oil industry, policymakers, and researchers to analyze market trends, consumer preferences, and potential growth opportunities within the Italian market for organic coconut oil products.
France’s imports of coconut oil reached nearly 90,000 tons in 2020.
The statistic stating that France’s imports of coconut oil reached nearly 90,000 tons in 2020 indicates the quantity of coconut oil that was brought into the country during that year. This figure highlights the significant demand for coconut oil in France as an imported product for various purposes such as cooking, skincare, and industrial applications. The high import volume suggests that coconut oil is a popular and sought-after commodity in the French market, potentially influenced by consumer preferences, trends in health and wellness, or the availability of domestic alternatives. Analyzing this statistic in conjunction with other data points could provide insights into consumption patterns, market trends, and import-export dynamics within the coconut oil industry.
Germany imported 51000 metric tons of coconut oil in 2020.
In 2020, Germany imported 51,000 metric tons of coconut oil, which is a measure of the total weight of coconut oil shipped into the country during that year. This statistic provides valuable insight into the demand for coconut oil in Germany and highlights the importance of international trade in meeting consumer needs. By quantifying the volume of coconut oil imports, this statistic can inform policymakers, businesses, and researchers about market trends, supply chain dynamics, and potential implications for the economy and environment. Overall, the importation of 51,000 metric tons of coconut oil in 2020 reflects the significant role that this product plays in Germany’s domestic consumption and underscores the country’s reliance on global trade networks to meet its demand for coconut oil.
From 2015 to 2020, Spain’s coconut oil imports increased by around 20 percent.
The statistic indicates that between the years 2015 and 2020, Spain experienced a notable increase in coconut oil imports, with the quantity rising by approximately 20 percent over this period. This growth highlights a significant trend in Spain’s consumption patterns and the demand for coconut oil within the country. Factors such as changing dietary preferences, increased awareness of the health benefits associated with coconut oil, and expanding culinary uses for the product could have contributed to this rise in imports. The statistic suggests a market shift towards coconut oil and signals potential opportunities for businesses involved in the production, distribution, and marketing of coconut oil in Spain during the specified time frame.
Conclusion
Based on the coconut oil industry statistics presented in this blog post, it is evident that the demand for coconut oil continues to rise due to its versatile uses in various sectors such as food, cosmetics, and healthcare. The growth projections and market trends indicate a promising future for the coconut oil industry, making it an attractive option for investors and consumers alike. It is essential for businesses to stay informed about the latest industry statistics and trends to capitalize on the opportunities presented by this thriving market.
References
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