United Kingdom: Coconut Market 2024

Coconut Market Size in the UK

The UK coconut market reduced to $X in 2022, with a decrease of -8.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.0% 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 +22.4% against 2020 indices. Coconut consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Coconut Exports

Exports from the UK

Coconut exports from the UK plummeted to X tons in 2022, with a decrease of -44.1% compared with 2021. Over the period under review, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by 37% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, coconut exports shrank significantly to $X in 2022. In general, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 45%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of coconut exports from the UK, with a combined 82% share of total exports. Vietnam, Thailand, Poland and Italy lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +86.0%), while the other leaders experienced mixed trend patterns.

In value terms, Ireland ($X) remains the key foreign market for coconuts exports from the UK, comprising 61% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total exports. It was followed by France, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland totaled -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-19.4% per year) and France (-17.0% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, shrinking by -11.2% against the previous year. Over the period under review, the export price continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2014 an increase of 24%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to France ($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 Poland (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Coconut Imports

Imports into the UK

In 2022, approx. X tons of coconuts were imported into the UK; waning by -8% compared with 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 22% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, coconut imports contracted to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 40%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), Cote d'Ivoire (X tons) and Costa Rica (X tons) were the main suppliers of coconut imports to the UK, together comprising 73% of total imports. Sri Lanka, Thailand, the Dominican Republic, Indonesia, Malaysia, the Netherlands and France lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +41.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of coconuts to the UK, comprising 31% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 15% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+23.4% per year) and Thailand (+28.9% per year).

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, declining by -2.6% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 Malaysia ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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