European Packaged Coconut Water Market to Worth $1 Billion by 2023
Arizton’s recent market research report on the packaged coconut water market in Europe provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by variants (plain and flavored), by packaging (paper and paperboard, plastic, and others), by type (sweetened and unsweetened), by distribution channel (hypermarket and supermarket, convenience stores, specialty stores, and other), and by geography (UK, Germany, France, Italy, Spain, Russia, Benelux, and others).
The European packaged coconut water market size is estimated to generate revenues of more than $1 billion by 2023 and is expected to grow at a CAGR of around 22% during the forecast period.
The introduction of caffeine, tea, and fruit infusions blended coconut water recipes is propelling the growth of the market in Europe. The extensive application of this product in gourmet food, juices, and cocktail blends will help vendors to launch new variants in the European market.
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The top 3 drivers and trends augmenting the growth of the market in Europe are discussed below:
Growing awareness about healthy lifestyle and food among consumers
The exponential growth of the health and fitness industry and the increasing number of health-conscious consumers is propelling the growth of the European packaged coconut water market. The growing levels of health complications associated with lifestyle and food habits are resulting in growing number of obese and diabetic patients across the world. The benefits associated with exercises and consumption of natural nutrient-rich beverages will boost the adoption of these products in the European market. The shifting preferences from carbonated drinks and juices to beverages with high water content, rich in minerals and nutrients, and organic will transform the food and beverage industry in Europe. Germany and the UK were the two largest markets in terms of health and fitness memberships and accounted for around 18% and 16% market share respectively in 2016. The demand for coconut water in gym and fitness clubs are primarily driven because it contains fewer calories, no added preservatives, and are rich in nutrients.
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High Investments and Pro-Government Policies in Coconut Farming to Boost Supply Side
The extensive use of coconut for coconut milk, concentrates, and dried products for various applications across the world will drive the growth of the European packaged coconut water market. Coconut extracts find potential use in the medicine, cooking, and food and beverage industries. The increasing cultivation of coconut is encouraging private investments, policy convenience from governments in tropical countries. The health benefits associated with these products will encourage the government to initiate favorable policies across the region to boost supplies in the market. Indonesia, the Philippines, India, Brazil, and Sri Lanka accounts for around 85% of the total supply in the global packaged coconut water market. The new policies implemented by the government will boost coconut farming, a lucrative agribusiness with agricultural advances, and increase investments that will result in developed and well-distributed business model. Such benefits associated with pro-government policies will attribute to the growth of the European packaged coconut water market.
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Growing demand for Organic and Food Intolerance Products
The increasing trend to consume organic and natural food and beverage products are augmenting the growth of the European packaged coconut water market. The consumers are conscious to avoid food and beverage products the contain GMO or chemical fertilizers that are extremely harmful and causes various illness and disorders. The growing demand for organic food products, vegetables, fruits, juices, coconut water, and spices that meet the strict European standard will revolution the market during the forecast period. The organic food and beverage market was estimated at over $43 billion in 2017.
Hypermarkets, supermarkets, and specialized organic retailers account for approximately 80% of the total sales in the European market.
Furthermore, the increasing awareness of additives, sweeteners, and high-calorie food and beverages will boost the demand for organic products in the European market.
The leading vendors in the European packaged coconut water market are PepsiCo Inc., Coca-Cola, Vita Coco, and Green COCO Europe.
The complete overview of the latest market research report on European packaged coconut water market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
Check our latest report on - Packaged Coconut Water Market - Global Outlook and Forecast 2020-2025
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