The coconut water market is expected to grow from $2,193.4 million in 2017 to $8,346.0 million by 2023, growing at a CAGR of 24.95% during the forecast period.
Arizton’s recent market research report on the coconut water market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by variants (plain and flavored), 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 growing demand for healthier on-the-go alternatives is driving the growth of the coconut water market. The food and beverage industry is witnessing a trend where consumers are shifting from high-sugar and calorie dominated carbonated drinks to healthier substitutes. Moreover, the increasing awareness about obesity and other lifestyle diseases will boost the demand for healthy beverage options such as coconut water in the global market.
The leading three drivers and trends driving the coconut water market are discussed below:
Increased Global Awareness for Health and Nutrition
The growing awareness of metabolic disorders and health risks such as obesity, diabetes, liver damage, kidney stones, heartburn, tooth decay, hypertension, and impaired digestion is propelling the growth of the global coconut water market. According to a WHO estimate, more than 39% adults worldwide were overweight in 2014 with the count increasing. With the increase in lifestyle related diseases, government bodies across the world are driving initiatives and programs to discourage the intake of sugar or aerated beverages, thereby promoting the market for nutritional, healthy, natural drinks. Vendors in the global market are increasing their investments and expand businesses by introducing healthy beverages and drinks that include green tea, juices, coconut water, and yoghurt. Such initiatives and business opportunities will drive the development of the global coconut water market.
High Investments and Pro-government Policies in Coconut Farming to Boost Supply Side
The exponential demand for not only coconut water but also for coconut milk, concentrates, and dried products is encouraging governments of tropical countries to introduce packages and subsidies to promote the cultivation of coconut trees. The use of coconut in the medicine, cooking, and food and beverage industries is driving the growth of the coconut water market. Asian countries such as Indonesia, the Philippines, India, Brazil, and Sri Lanka constitute 75% of the global coconut supplies. The policy convenience from governments in tropical countries and the rise in general demand driven by increased health awareness are creating new opportunities for vendors in the global coconut water market.
Growing Demand for Coconut Water Mix and Concentrates
The health benefits associated with coconut water includes lowering the blood pressure, rehydrating the body, improving the heart health, promoting weight loss, treating headaches, regulating the blood sugar, and balancing the pH levels in the human body. Due to these health benefits, the number of health-conscious consumers is growing, which is propelling the demand in the global coconut water market during the forecast period. Vendors are introducing new alternatives to bottled coconut water, including mix, concentrates, and candies, which are economical, health-friendly, and convenient to meet the requirements of consumers and gain a large market share in the global coconut water market.
Amy and Brian Naturals, Coca-Cola, Green COCO, PepsiCo, and Vita-Coco are the leading vendors in the coconut water market.
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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