Global Coconut Market 2024

Coconut Market Size

The global coconut market fell to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Coconut Production

In value terms, coconut production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 62% against the previous year. Global production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), the Philippines (X tons) and India (X tons), with a combined 72% share of global production. Brazil, Sri Lanka, Papua New Guinea, Vietnam, Myanmar and Mexico lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Papua New Guinea (with a CAGR of +4.0%), while production for the other global leaders experienced more modest paces of growth.

The global average coconut yield fell slightly to X tons per ha in 2022, therefore, remained relatively stable against the previous year's figure. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by 11%. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the average coconut yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconuts were harvested worldwide; remaining stable against 2021. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 1.5% against the previous year. As a result, the harvested area attained the peak level of X ha; afterwards, it flattened through to 2022.

Coconut Exports

Exports

In 2022, overseas shipments of coconuts decreased by -18.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 32%. The global exports peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, coconut exports fell to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 39%. The global exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Thailand was the major exporter of coconuts in the world, with the volume of exports recording X tons, which was near 41% of total exports in 2022. Indonesia (X tons) took the second position in the ranking, followed by Vietnam (X tons) and India (X tons). All these countries together held near 46% share of total exports. Cote d'Ivoire (X tons), Malaysia (X tons) and Sri Lanka (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +28.3%), while the other global leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the largest coconut supplier worldwide, comprising 52% of global exports. The second position in the ranking was held by Indonesia ($X), with a 14% share of global exports. It was followed by Vietnam, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand stood at +31.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+10.7% per year) and Vietnam (+3.7% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, growing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2018 an increase of 17%. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.6%), while the other global leaders experienced more modest paces of growth.

Coconut Imports

Imports

Global coconut imports rose remarkably to X tons in 2022, picking up by 7.5% compared with the year before. Overall, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 62% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, coconut imports rose markedly to $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 39% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

China was the key importing country with an import of about X tons, which finished at 61% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 15% share, followed by Thailand (8.1%). The following importers - the United Arab Emirates (X tons) and the United States (X tons) - each amounted to a 5.9% share of total imports.

China was also the fastest-growing in terms of the coconuts imports, with a CAGR of +19.7% from 2012 to 2022. At the same time, Thailand (+17.9%), the United Arab Emirates (+8.1%) and Malaysia (+7.2%) displayed positive paces of growth. The United States experienced a relatively flat trend pattern. From 2012 to 2022, the share of China and Thailand increased by +28 and +3 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported coconuts worldwide, comprising 62% of global imports. The second position in the ranking was held by Malaysia ($X), with a 6.4% share of global imports. It was followed by the United States, with a 5.5% share.

In China, coconut imports expanded at an average annual rate of +24.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+11.6% per year) and the United States (+2.3% per year).

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2013 an increase of 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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