Global coconut water market to cross US$ 5 billion by 2021, growing at a CAGR close to 21%
Coconut Water Market – Report Insights
Coconut water refers to the inside liquid of coconut that are extensively found across the world. It is a fresh fruit juice extracted from tender, unripe (green) coconut. It is a popular refreshing juice widely consumed in tropical countries due to its amazing health benefits.
The report “Global Packaged Coconut Water Market – Strategic Assessment and Forecast 2017-2022” provides the in-depth analysis of the worldwide packaged coconut water market. The report considers the present scenario of the market and provides the market size, growth, trends, drivers challenges, key geographies and profiles the major and emerging vendors.
Scope of the report
The market research report provides the details of the market size in.
This market research includes a detailed market segmentation by
By Packaging Type
- Paper and Paper Board
By Product Type
By Distribution Channels
- Hypermarket and Supermarket
- Convenience Store
- Specialty Stores
- Middle-East and Africa
- North America
- Latin America
- Other Countries in (APAC)
Coconut Water Market – Market Size and Dynamics
Analysts at Beige Market Intelligence estimate the global packaged coconut water market to cross US$ 5 billion by 2021, growing at a CAGR close to 21%. The market is set to increase in terms of both volume and revenue. The market has witnessed tremendous growth over the past 5 years with the consumption volume growing manifold in various geographies.
It is usually packed in three major modes; metal cans, tetra pack and plastic bottles. Each packaging mode has its own set of advantages and disadvantages and are usually suitable for a particular variant or a geography. Plastic and paperboard remain to be the major packaging material constituting more than three-fourth of the usage. The share of plastic, paper and paperboard in packaging is set to grow and outperform metal over the forecast period.
Coconut water is majorly available in two variants in the market; sweetened and unsweetened. Sweetened variants constituted more than half of the packaged coconut water market in terms of volume in 2016 while the remaining is unsweetened or negligibly sweetened.
Packaged plain coconut water stands to be the closest alternative to tender coconut water as the nutrient value almost remains the same. With increased growth and entry of players into the market, there has been a rise in product depth wherein vendors are increasingly experimenting with the flavoured formulations to gain a competitive advantage. The sales of flavoured packaged coconut water is estimated to excel during the forecast period.
Coconut Water Market – Trends, Drivers and Challenges
Coconut water is packed with various nutrients including Amino acids, antioxidants, Vitamin B-Complex, Calcium, Potassium, Magnesium, Manganese and Zinc and can potentially boost immune system and exhibit anti-aging and anti-cancer effects. Demand for coconut water has become a great craze, especially in certain developed markets, owning to its multiple health benefits. Coconut water, on account of containing lower calories than juices while offering better health benefits is being preferred by health-conscious urbane audience. The demand for carbonated drinks is witnessing a steady downturn because of obesity concerns and increased health awareness.
Global consumption of coconut water has jumped by as much as 40% over the period 2013 to 2016 driven by a rapidly growing consumer demand for healthier substitutes to carbonated drinks. This trend expected to remain the same going forward driven by a rise in availability of the product and a growing health awareness among consumers worldwide.
Radically Changing urbanization and change in food consumption habits is one of the major factor driving the demand of coconut water. Growing health awareness among consumers both in the developing markets and developed economies thereby is catalysing the market as it is considered as an healthier alternative compared to other carbonated beverages. Packaged coconut water is well positioned to capitalize upon the trend of increasing temperatures on account of its strong association of being ‘natural’ with minimal processing and perceived relative health benefits over traditional carbonated drinks.
Risk of substitution by electrolytes, sports drinks, packaged green tea and low calorie carbonated drinks is among one of the major challenges of the market discussed in the report.
Coconut Water Market – Geographical Analysis
The report includes the market analysis in different regions such as North America, APAC, EMEA and Latin America. The report outlines the major market share holder and the market size analysis of all the regions and provides the market size and forecast of key countries.
In developing countries, such as India, China and Indonesia that host one-third of the world’s population, both the coconut production and consumption are significantly high. Eight out of the top ten coconut producing countries in the world are in APAC. The region is a clear market leader when it comes to the production of coconut. Also The APAC region is expected to hold a significant position in the consumption of coconut water by 2022,which is close to 680 million litres.
There has been an increased interest for packaged coconut water especially in UK, Germany and Italy. Africa on the other hand represents a small consumption market for the product is a large potential supplier of tender coconuts on account of vast land resources and availability of agrarian-dependent workforce. US remains the undisputed market leader when it comes to the consumption size of the packaged coconut water in North America region.
Coconut Water Market – Market Share and Key Vendors
This market research report profiles the major companies in the market and also provides the competitive landscape of key players. Within the report covers the entire market outlook regarding the value chain operating within the market. Market is set to expect the entry of major FMCG companies and big retailers looking forward to launch 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. Major vendors included in the report are