The industry analysis report on global Coconut Water market provides detailed analysis and market size in terms of revenue ($ billion) and volume (million liters). According to Arizton, the global Coconut Water market is expected to cross $8.3 billion by 2023. The research report provides detailed segmental analysis by Packaging Type (Paper and paperboard, Metal, and Plastic) by Product Type (Sweetened and Unsweetened) by Variant (Plain and Flavored) by Distribution Channels (Hypermarkets and supermarkets, Convenience stores, Specialty stores, and Other) by Geography (APAC, EMEA, North America and Latin America).
Coconut water is the liquid inside coconuts. It is usually extracted from young and tender coconuts, which are six to nine months old, wherein the maximum yield of desired taste can be extracted. This ubiquitous juice product has displayed a stellar growth in the consumption over the past few years and is often referred as a major growth story in the beverage market.
The global packaged coconut water market size will cross US$8.3 billion, growing significantly with a CAGR of 25% during the period 2017−2023. The market is expected to increase in terms of volume and revenues. The packaged coconut water market is set to expect the entry of major FMCG companies and major retailers looking forward to launching coconut water on their own labels. Majors such as PepsiCo, Coca-Cola, and Vita Coco are expected to commit investments to the tune of $1 billion over the forecast period.
Global Coconut Water Market Size
The report provides a holistic view of the global coconut water market, companies involved, and factors driving the growth of the market. It also provides information about the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
Packaged Coconut Water Market Key Vendor Analysis
The market structure of packaged coconut water can be termed to be diverse due to the fact that each of the geographies has its own competitive dynamics and intensity of competition. Latin America can be termed as the most competitive market on account of high product reach.
The packaged coconut water report profiles the leading vendors and provides a complete value chain analysis of the market. Strength, strategies, and opportunities of major companies are discussed in the report. It also enlists the major product offering of companies involved in the market.
The major vendors included in the report are as followings:
Other prominent vendors mentioned in the report are C2O, C-Coconut Water, CHI, COCO Libre, Cocojal, DuCOCO, FOCO, H2 COCO, INVOCoconut, Taste Nirvana, Delta Meaf General Trading FZE, Arab Beverages, Thai Agri foods (TAF), Cocofina, Tradecons GMBH, Genuine Coconut, Goya Foods, Happy Coco, Kualu GMBH, Mighty Bee, Riri Technology, Rubicon, Tiana Fair Trade Organics, Tropical Sun Foods, Universal Food Public Company, Windmill Organics, Alnatura, Zumi Natural.
Increased global awareness of health and nutrition to boost the market growth
Increased global awareness over health and nutrition, consistent rise in global average temperature due to climatic change, and increased investments and pro-government policies in coconut farming to bolster the supply side are the major factors that are driving the market.
Increased presence for coconut water mix and concentrates, growing dominance of major FMCG players in the market, and ethical and fair-trade practices in food production are the latest trends that are going to drive the market during the forecast period. The report also includes the restraints of the market. Increased prevalence of diseases and decreased productivity is one of the major factors that can impact the market growth negatively.
Flavored coconut water segment to lead the global Packaged coconut market
Plastic and paperboard remain to be major packaging materials, constituting more than three-fourths of the usage. The share of plastic, paper, and paperboard in the packaging of coconut water is likely to grow and outperform metal over the forecast period.
Sweetened coconut water to account for more than half of the overall coconut water market, while the remaining is unsweetened or negligibly sweetened. Analysts at Arizton indicate that 70% of flavored variants have witnessed success in the market with vendors quick enough in turning around the variants or launching new flavors. The sale of flavored coconut water is forecasted to cross 1 billion liters by 2023. Two emerging distribution channels for packaged coconut water are vending machines and e-commerce. Supermarkets and hypermarkets will be the most predominant distribution channels for these packaged drinks.
APAC and North America to lead the market in terms of consumption and revenue, respectively
APAC is expected to be the market leader in terms of consumption due to enormous population potential the region has and a large production of coconut in key countries. Also in India, China, and Indonesia, the production and consumption of coconut are significantly high. Australia is another important market that is being viewed as the next major potential market in the region. The report also states that APAC region will witness the maximum growth CAGR during the period 2017–2023
The drink suffers from a price premium compared to its substitutes, deterring its adoption in major geographies of Europe. Despite the same, there has been an increased interest in packaged coconut water, especially in the UK, Germany, and Italy.
Major drivers for the growth in the consumption of packaged coconut water in North America are shifting consumer preferences for healthier alternatives and implementing federal education programs informing the ill-effects of sugar-loaded drinks.
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