APAC is the fastest growing region in the coconut water market, growing at a CAGR of 30.53% by 2023.
Arizton’s recent market research report on the coconut water market identifies Amy and Brian Naturals, PepsiCo, Coca-Cola, Green COCO, and Vita-Coco as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by variants (plain and flavored), by packaging (paper and paperboard, metal, and plastic), type (sweetened and unsweetened), distribution (hypermarket and supermarket, convenience stores, specialty stores, and others), and geography (North America, APAC, Europe, MEA, and Latin America).
The coconut water market is expected to grow from $2.19 billion in 2017 to $8.34 billion by 2023. The market is projected to grow at a CAGR of 24.95%.
The coconut water market is divided into five major segments: variants, packaging, type, distribution, and geography. The top three segments are discussed below:
APAC in the coconut water market to grow at a high CAGR during the forecast period
The geographical segment of the coconut market is divided into North America, APAC, Europe, MEA, and Latin America. APAC is the fastest growing region in the coconut water market, growing at a CAGR of 30.53% by 2023. The evolution in agricultural practices, investments, and development in supply chains, and progressive government policies are boosting the coconut water market in APAC. Countries such as Indonesia, Thailand, Vietnam, Malaysia, the Philippines, Sri Lanka, and India are the major cultivators of coconut in the global market. The growing demand for healthy and natural food will propel the growth of the coconut water market in the APAC region during the forecast period.
Sweetened coconut water segment to dominate the coconut water market share during the forecast period
The coconut water market by product type is classified into sweetened and unsweetened.
The sweetened product segment dominated the coconut water market, accounting for close to 57% of the total market share by volume in 2017 and is expected to grow at an impressive CAGR of 23.90% during the forecast period.
Vendors in the global market are pitching sweetened coconut water as an effective substitute for carbonated drinks or sugary juices. The flavor additives and sugar help mask the distinctive taste of coconut water and make it palatable for consumers around the globe. However, the health-conscious consumer segment looking for naturally flavored coconut water over the other alternatives available in the market. This shift in demand will propel the demand for unsweetened coconut water during the forecast period.
Plain variant in the coconut water market to grow at an impressive CAGR during the forecast period
The variants segment in the global coconut water market is categorized: plain and flavored.
The plain variant is the fastest growing segment of the coconut water market, growing at a CAGR of 31.39% during the forecast period.
The prolonged shelf life and as the closest alternative to tender coconut with high nutrient value are some of the factors fueling the demand for plain coconut water in the global market. These products fetch a premium over the flavored variants and are often marketed as the closest alternative to the natural product. Moreover, the growing demand for natural and organic products will drive the demand for plain variants in the global coconut water market during the forecast period.
The other prominent vendors in the coconut water market include C2O, C-Coconut Water, CHI, COCO Libre, Cocojal, DuCOCO, FOCO, H2 COCO, INVO Coconut, Cocofina, Tradecons GMBH, Genuine Coconut, Taste Nirvana, Delta Meaf General Trading FZE, Arab Beverages, Thai Agri foods (TAF), 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, and Zumi Natural
The complete overview of the latest market research report on the coconut water market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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