Coconuts market in South-eastern Asia

Earlier Report Observations

From 2018 to 2020, the coconut market volume in South-eastern Asia remained at a high level, starting at 35 699 thousand tonnes in 2018. This was underpinned by the Philippines' continued dominance in coconut product production and trade, as well as growing consumer demand for organic and environmentally friendly goods in the Asia-Pacific region. The market saw a modest contraction to 34 653 thousand tonnes by 2020.

Market volume recovered to 36 351 thousand tonnes in 2021, supported by Indonesia's position as the world's largest coconut producer influencing regional supply. Subsequent growth was driven by the rising popularity of veganism and lactose-free diets, which increased demand for coconut-based dairy alternatives. Major product launches, such as Danone's new plant-based coconut lines, further stimulated consumption of coconuts as raw material.

By 2023, the market reached 36 643 thousand tonnes. This expansion was sustained by continuous product innovation, including the launch of Virgin Coconut Oil by Dabur India, and strategic equity investments in organic brands. Ethical sourcing initiatives and fair trade practices, which raised farmer incomes, also contributed to stabilizing the production base.

Production coconuts in South-eastern Asia

In kind, 2017-2020, K t

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

Coconut production in South-eastern Asia declined for the second year in a row. In 2020, the region produced 35 559 K t of coconuts, marking a 1.9% decrease from the previous year. Production peaked in 2018 at 36 279 K t, which also saw the largest annual increase of 2.6%.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, K t

Exports coconuts from South-eastern Asia

Exports in kind, K t

After two years of decline, coconut exports from South-eastern Asia rebounded in 2020. Shipments totaled 961 K t, representing a sharp 48.4% year-over-year increase. However, over the 2017-2020 period, exports fell by 39.4%, with an average annual decline of 15.4%. The lowest export volume was recorded in 2019 at 648 K t, while the steepest drop occurred in 2018 with a 58.2% decrease.

Annual dynamics of product's exports from South-eastern Asia in kind, 2017-2020, K t

Between 2017 and 2020, coconut exports from South-eastern Asia were geographically diverse. China accounted for 26.6% of export volume, Canada for 14.5%, and the United States for 4.0%. Together, these three markets represented just 45.1% of total exports, with the remaining 54.9% distributed among numerous smaller trading partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, M $ US

Following two years of contraction, coconut export values from South-eastern Asia rose in 2020. Exports reached 1 059 M $ US, a substantial 64.0% increase compared to 2019. Over the 2017-2020 period, export values grew by 7.2%, equivalent to an average annual growth rate of 2.3%. The lowest value was recorded in 2019 at 646 M $ US, which also saw the largest decline of 29.8%.

Annual dynamics of product's exports from South-eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, coconut export values from South-eastern Asia were distributed across many countries. China accounted for 22.2% of export value, the United States for 11.6%, and the Netherlands for 6.0%. Combined, these three markets represented only 39.8% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports coconuts to South-eastern Asia

Imports in kind, K t

Import volumes showed significant volatility during this period. The lowest import volume was recorded in 2017, while the highest was in 2018, creating a 2.7-fold difference between these years. In 2020, South-eastern Asia imported 82 K t of coconuts, representing a sharp 37.1% increase from 2019. The largest decline occurred in 2019 with a 50.9% drop, while the largest increase was recorded in 2018 at 168.4%.

Annual dynamics of product's imports to South-eastern Asia in kind, 2017-2020, K t

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, M $ US

Import values exhibited notable fluctuations between 2017 and 2020. The lowest value was recorded in 2019 at 96 M $ US, while the highest was in 2020 at 317 M $ US, representing a 3.3-fold difference. The 2020 import value of 317 M $ US marked a dramatic 230.6% increase from 2019. The largest decline occurred in 2019 with a 42.1% decrease.

Annual dynamics of product's imports to South-eastern Asia in value, 2017-2020, M $ US

Between 2017 and 2020, India emerged as the primary supplier of coconuts to South-eastern Asia, accounting for 1.6% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South-eastern Asia in value, 2017-2020