Northern America: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in Northern America

The North American refined coconut oil market totaled $X in 2022, leveling off at the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Refined Coconut Oil Production in Northern America

In value terms, refined coconut oil production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Refined Coconut Oil Exports

Exports in Northern America

In 2022, shipments abroad of refined coconut (copra) oil decreased by -4.6% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 22% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined coconut oil exports expanded modestly to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +10.6% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States prevails in exports structure, amounting to X tons, which was near 91% of total exports in 2022. It was distantly followed by Canada (X tons), generating a 9.3% share of total exports.

The United States was also the fastest-growing in terms of the refined coconut (copra) oil exports, with a CAGR of +1.8% from 2012 to 2022. Canada (-1.0%) illustrated a downward trend over the same period. While the share of the United States (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Canada (-2.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest refined coconut oil supplier in Northern America, comprising 76% of total exports. The second position in the ranking was held by Canada ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +7.5%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, rising by 8.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2015 when the export price increased by 16% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.6%).

Refined Coconut Oil Imports

Imports in Northern America

Refined coconut oil imports stood at X tons in 2022, surging by 13% against the year before. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined coconut oil imports surged to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +97.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 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

The United States dominates imports structure, finishing at X tons, which was near 94% of total imports in 2022. It was distantly followed by Canada (X tons), mixing up a 6% share of total imports.

Imports into the United States increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Canada (+4.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.0% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported refined coconut (copra) oil in Northern America, comprising 93% of total imports. The second position in the ranking was held by Canada ($X), with a 7% share of total imports.

In the United States, refined coconut oil imports expanded at an average annual rate of +5.0% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with an increase of 14% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 +56.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 39% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2017; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.6%).

Source: IndexBox Platform

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