Europe: Coconut Oil Market 2024

Coconut Oil Market Size in Europe

In 2022, the Europe coconut oil market increased by 27% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Coconut Oil Production in Europe

In value terms, coconut oil production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 14%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Coconut Oil Exports

Exports in Europe

In 2022, after two years of growth, there was significant decline in shipments abroad of coconut (copra) oil, when their volume decreased by -6.4% to X tons. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 16%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, coconut oil exports rose rapidly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 44%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The Netherlands prevails in exports structure, amounting to X tons, which was near 73% of total exports in 2022. Germany (X tons) held a 6.8% share (based on physical terms) of total exports, which put it in second place, followed by Spain (5.3%) and Italy (4.8%). The following exporters - France (X tons) and Sweden (X tons) - each reached a 4.4% share of total exports.

The Netherlands experienced a relatively flat trend pattern with regard to volume of exports of coconut (copra) oil. At the same time, Sweden (+18.7%), Spain (+12.1%), Italy (+9.8%), France (+6.7%) and Germany (+1.4%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Europe, with a CAGR of +18.7% from 2012-2022. From 2012 to 2022, the share of Spain, Italy and Sweden increased by +3.3, +2.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest coconut oil supplier in Europe, comprising 68% of total exports. The second position in the ranking was held by Germany ($X), with a 7.7% share of total exports. It was followed by Spain, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to +3.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+4.5% per year) and Spain (+17.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, increasing by 13% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut oil export price increased by +63.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 40%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Sweden ($X per ton) and France ($X per ton), while the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.0%), while the other leaders experienced more modest paces of growth.

Coconut Oil Imports

Imports in Europe

In 2022, imports of coconut (copra) oil in Europe expanded markedly to X tons, surging by 10% on the previous year's figure. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 17% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, coconut oil imports surged to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +112.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 63%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Netherlands (X tons) was the largest importer of coconut (copra) oil, achieving 39% of total imports. Germany (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Italy (8.6%), Spain (5.2%) and France (4.7%). Belgium (X tons), Russia (X tons), Poland (X tons), the UK (X tons) and Sweden (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +9.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut oil importing markets in Europe were the Netherlands ($X), Germany ($X) and Italy ($X), with a combined 65% share of total imports. Spain, France, Belgium, Poland, the UK, Russia and Sweden lagged somewhat behind, together comprising a further 25%.

Spain, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, with an increase of 18% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut oil import price increased by +93.4% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 50%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform