Spain: Coconut Oil Market 2025

Coconut Oil Market Size in Spain

In 2022, the Spanish coconut oil market increased by 33% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate resilient growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Coconut Oil Exports

Exports from Spain

In 2022, approx. X tons of coconut (copra) oil were exported from Spain; surging by 30% against the previous year's figure. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 233% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, coconut oil exports soared to $X in 2022. Over the period under review, exports saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 137% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Italy (X tons), France (X tons) and Ireland (X tons) were the main destinations of coconut oil exports from Spain, with a combined 77% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +500.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coconut oil exported from Spain were Italy ($X), France ($X) and Ireland ($X), together accounting for 74% of total exports.

Among the main countries of destination, Ireland, with a CAGR of +365.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coconut oil export price stood at $X per ton in 2022, increasing by 18% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price 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, coconut oil export price increased by +110.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 63% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Switzerland ($X per ton) and Ireland ($X per ton), while the average price for exports to Poland ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Oil Imports

Imports into Spain

In 2022, approx. X tons of coconut (copra) oil were imported into Spain; jumping by 19% on the previous year's figure. Overall, imports showed a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 62%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, coconut oil imports skyrocketed to $X in 2022. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 78%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest coconut oil supplier to Spain, accounting for a 74% share of total imports. Moreover, coconut oil imports from the Philippines exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from the Philippines amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+21.3% per year) and the Netherlands (+13.6% per year).

In value terms, the Philippines ($X) constituted the largest supplier of coconut (copra) oil to Spain, comprising 71% of total imports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the Philippines totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+25.5% per year) and the Netherlands (+18.5% per year).

Import Prices by Country

In 2022, the average coconut oil import price amounted to $X per ton, growing by 22% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 +115.3% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 57%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($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 Netherlands (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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