U.S.: Coconut Market 2024

Coconut Market Size in the U.S.

In 2022, the U.S. coconut market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Coconut Exports

Exports from the U.S.

In 2022, coconut exports from the United States rose sharply to X tons, surging by X% on 2021 figures. Overall, exports, however, continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, coconut exports expanded rapidly to $X in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Canada (X tons) was the main destination for coconut exports from the United States, accounting for a X% share of total exports. Moreover, coconut exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sixfold. The third position in this ranking was held by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Spain (X% per year).

In value terms, Canada ($X) remains the key foreign market for coconuts exports from the United States, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average coconut export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Spain ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into the U.S.

Coconut imports into the United States fell slightly to X tons in 2022, declining by X% on 2021. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, coconut imports amounted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Mexico (X tons), Thailand (X tons) and the Dominican Republic (X tons) were the main suppliers of coconut imports to the United States, together comprising X% of total imports. These countries were followed by Costa Rica, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest coconut suppliers to the United States were Mexico ($X), Thailand ($X) and the Dominican Republic ($X), together accounting for X% of total imports. These countries were followed by Costa Rica, which accounted for a further X%.

Costa Rica, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average coconut import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. The import price peaked in 2022 and is expected to retain 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 Thailand ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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