The global coconut water market size was worth USD 4.78 billion in 2021 and is expected to grow to USD 15.8 billion by 2030, at a CAGR of 16.7% during the forecast period.
Coconut water is high in a nutrients, including minerals, vitamins, fibre, magnesium, calcium, sodium, and potassium. Because of the aforementioned beneficial elements, it is the greatest rehydration drink, increasing its popularity among gym-goers and athletes. Such health benefits are expected to increase demand for coconut water around the world. Obesity, cardiovascular disease, and diabetes are all caused by the excessive intake of sugary and carbonated beverages in practically all age categories, ranging from children to the working-class people. As a result, coconut water serves as an alternative to carbonated beverages because it is thought to be useful for all of the aforementioned problems, particularly weight management.
Consumers are actively interested in fitness and wellness. Active and health-conscious customers are increasingly turning to natural alternatives to caffeinated and sugar-based energy drinks. Coconut water is low in fats and carbohydrates and has a very low calorific value. It is high in antioxidants and has medicinal qualities. As a result of its nutritional qualities, such as electrolytes and nutrients, the demand for coconut water as a natural sports drink is rapidly increasing.
Key Drivers and Restraints of Coconut Water Market
Drivers
- Coconut water is a naturally refreshing and nutritious beverage that is gaining popularity among health-conscious consumers, as it contains essential vitamins, minerals, and electrolytes. It is also lower in sugar, calories, and carbohydrates than most other drinks, making it an attractive option for health-conscious consumers.
- The growing demand for natural beverages is driving the growth of the coconut water market. Coconut water is a natural source of electrolytes, minerals, and vitamins, making it a healthier alternative to other beverages.
Restraints
- Coconut water is produced from top-grade coconuts, which come with a high cost. This high cost of production is hampering the growth of the global coconut water market. There are various substitutes available in the market such as energy drinks and sports drinks, which are cheaper than coconut water.
- Coconut water has a low shelf life, which limits its usage and makes it difficult to store and transport. This is hampering the growth of the global coconut water market.
Impact of COVID - 19
The current COVID-19 pandemic has had a significant impact on the food and beverage industry, as well as the coconut water market's growth. The implementation of steps to stop the virus's spread has worsened the situation and harmed the growth of various industries. The market has been harmed by the abrupt loss of operational efficiencies and value chain disruptions caused by the sudden closure of national and international borders. During the pandemic, disruptions in raw material supply from suppliers, as well as temporary closures of industrial bases due to indefinite lockdowns and temporary quarantines, hampered market growth. However, as much as the pandemic has impacted supply chain operations, it has also created a demand for healthy living among consumers, leading to a shift in consumer focus toward nutritional food products. As a result of the expanding trend of functional and immunity-boosting products, post-pandemic demand for coconut water is predicted to grow.
Report Scope of the Coconut Water Market
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Details
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Market Size in 2021
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USD 4.78 billion
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Estimated Market Size in 2030
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USD 15.8 billion
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CAGR Growth Rate
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16.7% CAGR
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Base Year
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2021
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Forecast Years
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2022-2030
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Segmentation
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By Variants, By Packaging, By Distribution Channel
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Major Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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Key Market Players
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All Market Inc., Naked Juice Company, Vaivai SAS, C2O Pure Coconut Water, LLC, PepsiCo (O.N.E. Coconut Water), New Age Beverages Corporation, Celebes Coconut Corporation, The Coca-Cola Company (ZICO), Harmless Harvest, COCOZIA, Elegance Brands, Inc.
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Report coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis by Segments
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Global Coconut Water Market: Segmentation
By variant, the natural variant of coconut water is leading the Global Coconut Water Market. Natural coconut water is made with minimal processing and without any added ingredients. It is a source of a variety of vitamins, minerals, amino acids, and antioxidants. Increasing health consciousness and the demand for natural and organic products are driving the market for natural coconut water.
By packaging, the Tetra pack segment is leading the global coconut water market. Tetra pack coconut water has become popular due to its convenience and easy to carry nature. The product is available in different flavors and sizes which makes it more appealing to the consumers. It has a long shelf life and is easy to store.
The offline distribution channel is currently leading the global coconut water market. The offline distribution channel includes supermarkets, hypermarkets, and Retail stores. The convenience offered by these stores to consumers due to their availability in localities, is a major factor driving the growth of the offline distribution channel.
Regional Analysis
Asia Pacific accounted for the extreme share of more than 36% of the global market in 2021. In the Asia Pacific region, coconut water is used in various cooking dishes and drinks as a seasoning agent and base for cocktails. Moreover, rising preference for ready-to-drink (RTD) beverages, especially among health-conscious consumers, increasing number of coconut plantations and increasing assumption of a vegan diet and non-dairy goods were the reasons responsible for the development of coconut water market in the region.
Europe offers strong growth prospective to the coconut water market. In the European region, coconut water is progressively being consumed by persons as it refills the body while preventing dehydration, specifically after energetic activity or workouts.
Key Outcomes of the Report
Consumers throughout the world are becoming more health-conscious, and products like coconut water, which is touted as a dehydrator, natural diuretic, digestive soother, and cholesterol-lowering product, are getting more popular. Low-sugar goods are popular with customers, as seen by the rise in sales of coconut water in recent years in many nations.
Organic product consumption is expanding in developed regions such as Europe, which has a beneficial impact on coconut water consumption. During the forecast period, demand for coconut products is likely to rise as more creative coconut products are introduced to the market.
It is critical for food manufacturers and restaurants to leverage on taste to improve product sales. Consumers are more inclined to try a new flavor if it appeals to them. As a result, food conglomerates are constantly attempting to improve their product offerings.
List of Key Players in the Global Coconut Water Market:
- All Market Inc.
- Naked Juice Company
- Celebes Coconut Corporation
- Elegance Brands, Inc.
- New Age Beverages Corporation
- Vaivai SAS
- The Coca-Cola Company (ZICO)
- Harmless Harvest
- Elegance Brands, Inc.
- C2O Pure Coconut Water, LLC
- PepsiCo (O.N.E. Coconut Water)
- COCOZIA
Coconut Water Market Segment as Follows:
By Variants
By Packaging
- Tetra pack
- Plastic
- Others
By Distribution Channel
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Frequently Asked Questions (FAQs):
What is the size of Coconut Water market?
The global coconut water market size was worth USD 4.78 billion in 2021 and is expected to grow to USD 15.8 billion by 2030
What will be the CAGR of global Coconut Water market?
The Coconut Water market is expected to drive growth at a CAGR of 16.7% from 2022 to 2030.
Who are the major players operating in the Coconut Water market?
All Market Inc., Naked Juice Company, Vaivai SAS, C2O Pure Coconut Water, LLC, PepsiCo (O.N.E. Coconut Water), New Age Beverages Corporation, Celebes Coconut Corporation, The Coca-Cola Company (ZICO), Harmless Harvest, COCOZIA, Elegance Brands, Inc. are the major players operating in the Coconut Water market
Which region will lead the global Coconut Water market?
Asia Pacific dominated the global Coconut Water market in 2021, accounting for more than 36% of the global market.
Which distribution channel is projected to account for the larger share of the Coconut Water Market?
The offline channel segment dominated the Coconut Water market and accounted for a revenue share of more than 70.0% in 2021.