Denmark: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Denmark

In 2022, the Danish refined coconut oil market increased by 26% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.5% against 2020 indices. Refined coconut oil consumption peaked in 2022 and is expected to retain growth in the near future.

Refined Coconut Oil Production in Denmark

In value terms, refined coconut oil production soared to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 230%. Over the period under review, production attained the maximum level in 2022 and is likely to see steady growth in the near future.

Refined Coconut Oil Exports

Exports from Denmark

In 2022, after three years of decline, there was significant growth in shipments abroad of refined coconut (copra) oil, when their volume increased by 52% to X tons. In general, exports continue to indicate a strong increase. The growth pace was the most rapid in 2014 when exports increased by 92%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, refined coconut oil exports skyrocketed to $X in 2022. Overall, exports posted a prominent increase. The growth pace was the most rapid in 2014 when exports increased by 168% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons), Sweden (X tons) and Finland (X tons) were the main destinations of refined coconut oil exports from Denmark, together accounting for 69% of total exports. Norway, Greenland, Faroe Islands, France, Iceland and Germany lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +201.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined coconut oil exported from Denmark were Sweden ($X), Finland ($X) and Lithuania ($X), with a combined 68% share of total exports. Norway, Greenland, Faroe Islands, France, Iceland and Germany lagged somewhat behind, together comprising a further 30%.

France, with a CAGR of +190.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2022, reducing by -11% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined coconut oil export price decreased by -9.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 47% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into Denmark

In 2022, supplies from abroad of refined coconut (copra) oil increased by 6.9% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 14%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined coconut oil imports soared to $X in 2022. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 53%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest refined coconut oil supplier to Denmark, with a 58% share of total imports. Moreover, refined coconut oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.5% per year) and Sweden (+24.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of refined coconut (copra) oil to Denmark, comprising 49% of total imports. The second position in the ranking was held by Germany ($X), with a 24% share of total imports. It was followed by Sweden, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and Sweden (+34.8% per year).

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, with an increase of 20% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined coconut oil import price increased by +77.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of 37%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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