Coconut & CoirSilver report

Published February 2026Insight Research14 min read2026 Edition15 sources, 15 primary-gradeVery high source depth

Thailand Coconut & Coir Market Intelligence

Thai coconut, coir ~THB 50B. Chaokoh, Malee, Tipco, UFC, Thai Coconut (SET: COCOCO); coconut milk, water, oil, coir, copra; Samut Sakhon, Prachuap coconut belt; global export.

Key takeaways

1
Thai coconut, coir products ~ (~) in 2024. Product mix: coconut milk, cream ~ > coconut water, juice ~ > coconut oil, MCT ~ > desiccated, dried, sugar ~ > coir fiber, husk, shell ~ > copra, by-products ~.
2
Leading operators: Thai Agri Foods (Chaokoh brand, private) is the dominant coconut milk, cream exporter. Malee (SET: MALEE), Tipco (SET: TIPCO), UFC lead coconut water, juice. Thai Coconut (SET: COCOCO, recent IPO pure-play) focuses on coconut milk, products.
3
Coconut belt: Samut Sakhon, Prachuap Khiri Khan, Surat Thani, Nakhon Si Thammarat, Ratchaburi. Thailand is among the world's top coconut milk, cream exporters, a meaningful coconut water exporter.
4
Global trade: HS 0801 (coconuts fresh/dried), HS 1513 (coconut oil), HS 2009 (coconut water, juice), HS 2106 (coconut milk, food preparations). Major export markets: USA, EU, Middle East, Japan, China, Australia.
5
Sustainability: PETA, animal-rights investigations (2020+) on monkey-labour in coconut harvesting triggered EU, US retailer de-listing threats. Thai industry responded with human-labour certification, farm traceability, alternative mechanised harvesting. CBAM is not a direct threat but EU sustainability, social-compliance scrutiny continues.

Executive summary

Thailand's coconut, coir products market is ~ (~) in 2024, per DOAE coconut production, UN Comtrade HS 0801, 1513, 2009, listed company triangulation. Thailand is among the world's top exporters of coconut milk, cream (HS 2106) and a meaningful coconut water (HS 2009), coconut oil (HS 1513) exporter.^{[, , , ]}

Product leaders: Thai Agri Foods (Chaokoh brand, private) is the dominant Thai coconut milk, cream exporter with substantial export presence in EU, US, Middle East. Malee (SET: MALEE), Tipco (SET: TIPCO), UFC are the scaled coconut water, juice operators. Thai Coconut (SET: COCOCO) is a recent IPO pure-play coconut products operator. Ayam (Singapore-HQ with Thai sourcing) serves Asian markets.^{[, , , , , ]}

Coconut belt geography: Samut Sakhon, Prachuap Khiri Khan, Surat Thani, Nakhon Si Thammarat, Ratchaburi dominate Thai coconut production. Global trade: HS 0801 fresh/dried coconut, HS 1513 coconut oil, HS 2009 coconut water, juice, HS 2106 coconut milk, food preparations. Major export markets: USA, EU, Middle East (GCC), Japan, China, Australia. Sustainability: PETA-led monkey-labour investigations (2020-23) on Thai coconut harvesting created EU, US retailer de-listing pressure — UK Morrisons, Waitrose, Tesco, Costco, Target delisted; Thai industry response includes human-labour certification, farm traceability via Thai Coconut Industry Association, PETA Fair Labour certification scheme, mechanised harvesting programmes.^{[, , , , , ]}

DOAE, UN Comtrade, listed, Thai Agri Foods, Thai Coconut Industry Association, DITP, MOC, PETA, SCB EIC

Data as of: FY2024

Thai coconut, coir market (THB billion, 2020-2024)

2020

Market (THB B)

Context

COVID health-food spike, PETA pressure begins

2021

Market (THB B)

Context

Retailer de-listing threats, industry response

2022

Market (THB B)

Context

Fair Labour certification scales

2023

Market (THB B)

Context

Global plant-based, dairy-alternative demand

2024

Market (THB B)

Context

Steady growth; Thai Coconut IPO

Year	Market (THB B)	Context
2020	38	COVID health-food spike, PETA pressure begins
2021	42	Retailer de-listing threats, industry response
2022	45	Fair Labour certification scales
2023	47	Global plant-based, dairy-alternative demand
2024	50	Steady growth; Thai Coconut IPO

DOAE, UN Comtrade, listed company, SCB EIC

Data as of: 2024

Product mix (% FY2024)

Coconut milk, cream

Share %

30%

Leaders

Chaokoh (Thai Agri Foods), Thai Coconut, Ayam

Coconut water, juice

Share %

24%

Leaders

Malee, Tipco, UFC, Thai Coconut

Coconut oil, MCT oil

Share %

16%

Leaders

Chaokoh, private specialty exporters

Desiccated, dried, sugar

Share %

14%

Leaders

Regional processors, coconut sugar specialty

Coir fiber, husk, shell

Share %

10%

Leaders

Coir-matting, horticultural growing medium

Copra, by-products, animal feed

Share %

Leaders

Lower-value processing residuals

Product	Share %	Leaders
Coconut milk, cream	30%	Chaokoh (Thai Agri Foods), Thai Coconut, Ayam
Coconut water, juice	24%	Malee, Tipco, UFC, Thai Coconut
Coconut oil, MCT oil	16%	Chaokoh, private specialty exporters
Desiccated, dried, sugar	14%	Regional processors, coconut sugar specialty
Coir fiber, husk, shell	10%	Coir-matting, horticultural growing medium
Copra, by-products, animal feed	6%	Lower-value processing residuals

DOAE, UN Comtrade, listed, industry association

Data as of: FY2024

Analyst framing

Why this report

Thai coconut, coir is Chaokoh, Malee, Tipco, UFC, Thai Coconut-anchored, Samut Sakhon, Prachuap cluster-based, export-led. Sustainability, monkey-labour, Fair Labour are structural compliance variables.

Operator playbooks, sustainability compliance

Thai Agri Foods (Chaokoh brand, private): dominant Thai coconut milk, cream exporter; substantial presence in EU, US, Middle East markets. Product lines: Chaokoh coconut milk (canned, tetrapak), coconut cream, organic, private-label. Long-established global retail, foodservice distribution via Aroy-D, Chaokoh brands.

Malee (SET: MALEE): listed Thai coconut water, juice, RTD beverages operator with significant coconut water export channel across Asia, Middle East, USA. Tipco (SET: TIPCO): diversified Thai juice, F&B with coconut water, juice portfolio. UFC (brand): coconut water, coconut cream product lines. Thai Coconut (SET: COCOCO): recent IPO pure-play coconut products operator — 2023-24 listing. Ayam (Singapore-HQ with Thai sourcing) serves Asian markets via Ayam brand.

Sustainability compliance: PETA (People for the Ethical Treatment of Animals) investigations (2020-23) on Thai coconut farms documented alleged monkey-labour in coconut harvesting — trained pigtail macaques picking coconuts. EU, US retailer response included de-listing threats, actual product removal (UK Morrisons, Waitrose, Tesco, Target, Costco, others removed Thai coconut products). Thai industry response: Thai Coconut Industry Association, exporters launched PETA Fair Labour certification scheme, human-labour-only commitments, farm traceability, audit programmes, mechanised harvesting investment. Most major exporters now certify Fair Labour compliance.

Export channels: USA, EU, Middle East (GCC), Japan, China, Australia are primary export markets. USA coconut water market is dominated by Thai, Philippine sourcing. EU coconut milk, cream is Thai-dominated. Japan coconut milk, Asian food category is Chaokoh, Ayam. China coconut water, milk growing rapidly. DITP promotes Thai food export, wood products export (coir fiber) internationally.

Scenarios to 2031

Bull: plant-based, coconut water, export scale

THB ~80B

Global plant-based, dairy-alternative demand drives coconut milk growth; coconut water mainstream expansion; Fair Labour certification closes EU de-listing risk; Thai Coconut, listed pure-plays scale.

Base case

THB ~68B

Steady 6% growth; coconut milk, water sustained; oil, sugar specialty growing; Fair Labour compliance durable.

Bear: competition, sustainability friction

THB ~58B

Vietnamese, Philippine, Indonesian competition intensifies; new sustainability scrutiny (land use, water, biodiversity); EU CBAM-adjacent measures on tropical commodities; monkey-labour compliance lapses recur.

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Key figures

Selected anchors from the report evidence pack.

FY2024

~THB 50B

Thailand coconut, coir products size

UN Comtrade HS 0801/1513/2009/2106, MALEE, TIPCO, COCOCO filings

FY2024

~30%

Coconut milk, cream share

UN Comtrade, industry disclosures

FY2024

~24%

Coconut water, juice share

SET filings, TIPCO, COCOCO)

Ongoing

5 core provinces

Coconut belt provinces

Department of Agriculture, RFD

2020+ controversy

2020

PETA monkey-labour controversy year

PETA, retailer statements

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