According to a new report published by UnivDatos Markets Insights, the Coconut Water Market was valued at more than USD 4 Billion in 2021 and is expected to grow at a CAGR of around 16% from 2022-2028. The analysis has been segmented into Form (Liquid and Powder); Packaging Type (Tetra Pack & Cans and Plastic Bottle); Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, and Online Retail Stores); Region/Country.
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The coconut water market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the coconut water market. The coconut water market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the coconut water market at the global and regional levels.
Market Overview
Coconut Water is defined as the clear liquid present inside the coconut. This water is healthy and helps maintain body balance and keep the body hydrated in comparison to other soft drinks. Additionally, the properties of coconut water such as preventing kidney stones, helping lower blood sugar for people living with diabetes, being beneficial after prolonged exercise, and many others are increasing its demand in the market. In recent years, coconut water is becoming increasingly popular as it has been a go-to drink for health-conscious individuals and athletes. Coconut water also has anti-inflammatory properties which can reduce muscle soreness after intense exercise.
Factors such as increasing demand for natural products coupled with the rising demand for functional beverages, and increasing consumption in the market are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include Harmless Harvest; Celebes Coconut Corporation; Naked Juice Company; THE VITA COCO COMPANY, INC.; Amy and Brian Naturals; Edward & Sons Trading Co.; Taste Nirvana International; Goya Foods, Inc.; GraceKennedy Group; and Bai.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted industries and has transformed the way industries are delivered. The coconut water market has significantly seen growth during the pandemic. The reason to which the benefits factors of coconut water such as its antioxidant properties, help lower blood sugar for people living with diabetes and many others. That led to an increased sale of coconut water during the pandemic which led to an increase in the growth of the market.
The global coconut water market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on form, the market is segmented into liquid and powder. The powder form accounted for a significant market share in 2021. This is mainly owing to the convenience, longer shelf life, cost-effectiveness, versatility, and health benefits of powdered coconut water that are driving its demand. Also, consumer demand for healthy and natural products continues to grow, and the use of powdered coconut water is expected to increase during the coming years.
· Based on packaging type, the market is categorized into tetra pack & cans and plastic bottle. Among these, plastic bottle to hold a significant share of the market in 2021. This is mainly due to the option as a popular packaging option for coconut water because they are lightweight, easy to transport, and convenient for on-the-go consumption. Additionally, it is important for manufacturers and consumers to be mindful of their environmental impact and to explore more sustainable packaging options. Furthermore, Plastic bottles come in a variety of sizes and shapes, which makes them a versatile packaging option for coconut water. They can be easily customized to meet the needs of different consumers and markets.
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Coconut Water Market Geographical Segmentation Includes:
· North America (U.S., Canada, Rest of North America)
· Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)
· Asia-Pacific (China, India, Japan, Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for this natural and healthy beverage, the availability and diversification of product offerings, and the rising popularity of plant-based and vegan diets. Moreover, many major grocery stores, health food stores, and online retailers now stocking it. This increased availability has made it easier for consumers to try coconut water and has contributed to its growing popularity in the region. Also, major players in the market are launching new products in the market to provide better taste and health benefits. For instance, in Jun 2022, Del Monte launched India’s First Packaged King Coconut Water. King Coconut water is renowned for its superior health and taste benefits.
The major players targeting the market include
· Harmless Harvest
· Celebes Coconut Corporation
· Naked Juice Company
· THE VITA COCO COMPANY, INC.
· Amy and Brian Naturals
· Edward & Sons Trading Co.
· Taste Nirvana International
· Goya Foods, Inc.
· GraceKennedy Group
· Bai
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the coconut water market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the coconut water market?
• Which factors are influencing the coconut water market over the forecast period?
• What are the global challenges, threats, and risks in the coconut water market?
• Which factors are propelling and restraining the coconut water market?
• What are the demanding global regions of the coconut water market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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