United Kingdom: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in the UK

The UK refined coconut oil market contracted modestly to $X in 2022, approximately mirroring the previous year. In general, consumption recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Refined Coconut Oil Production in the UK

In value terms, refined coconut oil production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible reduction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Refined coconut oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Coconut Oil Exports

Exports from the UK

In 2022, shipments abroad of refined coconut (copra) oil decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, refined coconut oil exports shrank rapidly to $X in 2022. In general, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Ireland (X tons) and the Netherlands (X tons) were the main destinations of refined coconut oil exports from the UK, with a combined X% share of total exports. Italy, Germany, Poland, Barbados and Belgium lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for refined coconut oil exported from the UK were Ireland ($X), France ($X) and Germany ($X), together accounting for X% of total exports. The Netherlands, Italy, Poland, Barbados and Belgium lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Barbados, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average refined coconut oil export price amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to France ($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 Germany (X%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Coconut Oil Imports

Imports into the UK

In 2022, overseas purchases of refined coconut (copra) oil decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refined coconut oil imports rose notably to $X in 2022. Overall, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of refined coconut oil to the UK, accounting for a X% share of total imports. Moreover, refined coconut oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), fivefold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and France (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of refined coconut (copra) oil to the UK, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and France (X% per year).

Import Prices by Country

In 2022, the average refined coconut oil import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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 ($X per ton), while the price for France ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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