Refined coconut oil and fractions market in Belgium

Earlier Report Observations

The market for refined coconut oil and fractions in Belgium fluctuated significantly between 2018 and 2023. After rising to 46 702 t in 2019, the market volume shrank to 41 316 t in 2020, then reached its period peak of 48 422 t in 2021, before declining over the next two years to 35 318 t in 2023. This volatile pattern coincided with several key market developments. The entry of a new domestic player, ECOPROD, which began manufacturing refined oils and fats in 2018, coincided with initial market growth. Later periods were shaped by changing consumer preferences and regulatory shifts, including a strong and sustained trend toward organic, cold-pressed, and virgin coconut oils, which altered the product mix available in Belgian stores.

The market's value trajectory did not always mirror its volume, particularly in 2019 when the market value fell to $47.8 million despite a volume increase, suggesting a shift toward different import compositions or price pressures. A significant regulatory tightening occurred in 2021, with Belgium enforcing stricter mandatory labeling requirements for vegetable oils, specifying the source and processes like 'refined' or 'organic'. This period also saw the development of new product segments such as deodorized and fractionated coconut oil for specialized uses. These factors, alongside global supply chain disruptions noted in 2022, contributed to the market's instability.

Consumer demand in Belgium increasingly favored certified sustainable, fair trade, and non-chemically refined oils, with over 28% of imported volumes being certified by 2023. International investments in sustainable coconut production, like Olam International's $50 million USD investment in plantations, aimed to meet this demand and influenced the global supply chain for Belgian imports. By 2024, new Belgian royal decrees further shaped the operating environment, introducing rules on packaging recycled content and water quality standards for food production, while health authority recommendations began advising limits on the consumption of tropical oils like coconut oil.

Production refined coconut oil and fractions in Belgium

In value, 2017-2020, K $ US

Belgium's refined coconut oil and fractions production value rebounded in 2020 after two years of decline. Output reached 4 846 K $ US, marking an 8.4% increase from 2019. Over the 2017-2020 period, production fell by 26.1%, with an average annual decline of 9.6%. The lowest value was recorded in 2019 at 4 470 K $ US, while the sharpest drop occurred in 2018 with a 29.0% decrease.

Annual dynamics of production in Belgium in value, 2017-2020, K $ US

In kind, 2017-2020, t

Belgium's refined coconut oil and fractions production volume grew for the second consecutive year in 2020. Output totaled 3 672 tonnes, representing a significant 12.3% rise compared to 2019. Over the 2017-2020 period, production increased by 24.7%, with an average annual growth rate of 7.6%. The lowest volume was recorded in 2018 at 2 462 tonnes, which also saw the largest decline of 16.4%. In contrast, 2019 experienced the biggest increase at 32.9%.

Annual dynamics of production in Belgium in kind, 2017-2020, t

Exports refined coconut oil and fractions from Belgium

Exports in kind, t

Belgium's exports of refined coconut oil and fractions declined to 2 690 tonnes in 2020, down 14.9% from the previous year. Over the 2017-2020 period, exports fell by 17.5%, with an average annual decrease of 6.2%. The lowest export volume was recorded in 2018 at 2 619 tonnes, which also saw the sharpest drop of 19.7%. In 2019, exports rebounded with the largest increase of 20.7%.

Annual dynamics of product's exports from Belgium in kind, 2017-2020, t

From 2017 to 2020, France, Spain, and the Netherlands were the primary destinations for Belgium's refined coconut oil and fractions exports by volume. France accounted for 25.1% of exports, Spain for 20.5%, and the Netherlands for 10.7%. Together, these three countries represented 56.3% of total export volumes.

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

World map of product's exports from Belgium in kind, 2017-2020

Exports in value, K $ US

Belgium's refined coconut oil and fractions export value declined for the third consecutive year in 2020. Exports amounted to 4 668 K $ US, down 5.5% from the previous year. Over the 2017-2020 period, export value fell by 38.1%, with an average annual decline of 14.8%.

Annual dynamics of product's exports from Belgium in value, 2017-2020, K $ US

From 2017 to 2020, the leading destinations for Belgium's refined coconut oil and fractions exports by value were France, Spain, and Argentina. France accounted for 23.2% of export value, Spain for 17.5%, and Argentina for 12.4%. Collectively, these three markets represented 53.1% of total export value.

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

World map of product's exports from Belgium in value, 2017-2020

Imports refined coconut oil and fractions to Belgium

Imports in kind, t

Belgium's imports of refined coconut oil and fractions totaled 40 334 tonnes in 2020, showing a substantial 13.4% decrease from 2019. Over the 2017-2020 period, imports fell by 11.8%, with an average annual decline of 4.1%. The highest import volume was recorded in 2019 at 46 592 tonnes, which also saw the largest increase of 12.2%.

Annual dynamics of product's imports to Belgium in kind, 2017-2020, t

From 2017 to 2020, the Netherlands dominated Belgium's refined coconut oil and fractions imports by volume, accounting for 85.1% of total imports. Other markets held relatively minor shares during this period.

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

World map of product's imports to Belgium in kind, 2017-2020

Imports in value, K $ US

Belgium's refined coconut oil and fractions import value declined for the third consecutive year in 2020. Imports reached 47 414 K $ US, down 1.9% from the previous year. Over the 2017-2020 period, import value fell by 47.3%, with an average annual decrease of 19.2%.

Annual dynamics of product's imports to Belgium in value, 2017-2020, K $ US

From 2017 to 2020, the Netherlands was the key supplier of refined coconut oil and fractions to Belgium by value, accounting for 81.9% of total imports. A diverse group of other countries supplied the remaining share.

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

World map of product's imports to Belgium in value, 2017-2020