Global Coconut Water Market, By Form (Liquid, Powder), By Packaging (Tetra Pack, Plastic Bottle), By flavor (Plain coconut water, Flavored coconut water), By Distribution channel (Supermarkets and hypermarkets, Convenience stores, Online retail stores, and other distribution channels), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027
- Published Date: June 2021
- Report ID: BWC20369
- Available Format: PDF
- Page: 161
Global Coconut Water Market Size - Industry Trends & Forecast Report 2027
The global coconut water market was worth USD 4.4 Billion in 2020 and is further projected to reach USD 13.1 Billion by 2027, at a CAGR of 15.04 % during 2021-2027 (forecast period). The global demand for coconut water is expanding due to rising consumer demand for functional, organic, and healthy beverages. Thus, increased health awareness among the people is one of the primary factors driving the growth of the coconut water market. Many vendors nowadays offer coconut water infused with natural additives such as turmeric, ginger, and fruits, to boost the nutritional value of coconut water. Furthermore, athletes and fitness fanatics favor this drink as part of their daily diet, which contributes to market growth.
Source: BlueWeave Consulting
Global Coconut Water Market Overview:
The clear liquid found inside young coconuts is known as coconut water. Coconut water does not have an extensive calorie content like other soft drinks, and therefore, it is considered a healthy drink. It is also an excellent source of hydration and is capable of replacing electrolytes lost after aworkout. These are a few factors that make coconut water a
popular drink among health-conscious people. Coconut water has numerous health benefits; it keeps the body hydrated, can cure a variety of ailments such as diarrhea and vomiting, and keeps cholesterol levels in control, thereby reduces the risk of strokes and heart attacks. Additionally, it is good for the digestive system as well. These are also the primary factors contributing to the growth of the coconut water market. Additionally, it is worth noting that though tender coconut water can be consumed from young coconuts, the majority of coconut water sold in the USA and Europe is processed and packaged.
Global Coconut Water Market Forecast and Trends
Rising Health Consciousness
Nowadays, people have become more aware of their well-being, which makes them look out for healthier products, such as coconut water, which works as a dehydrator, a natural diuretic, digestive soother, and cholesterol-lowering product. Moreover, consumers nowadays prefer low-sugar products or plant-based beverages, which is also driving sales of coconut water across various nations. Furthermore, the nutritious elements added to coconut water by many vendors make it the greatest health drink, thereby increasing its popularity among gym-goers and sportsmen. Nevertheless, despite the fact that coconut water nowadays comes in a variety of flavors, normal tender coconut water will continue to be a consumer choice during the forecast period, thereby driving the demand for coconut water across the globe.
Increasing health issues Propelling the Coconut Water Market Forward
Sugary and carbonated beverages have been linked to a variety of health problems, including cardiovascular disease and diabetes, in people of all ages, from children to the working class. Coconut water is the perfect alternative to these sugary and carbonated beverages because it is beneficial for all of the above health issues. Furthermore, the high potassium level in it protects consumers against the risk of stroke by lowering blood pressure. What’s more, it also supports weight loss. Thus, doctors and dieticians recommend coconut water to patients instead of sugary drinks, which in turn is driving the growth of the coconut water market.
Global Coconut Water Market Restraints
High cost and less shelf life
The preservation of tender coconut water, as well as the high costs associated with the processing, packing, and distribution of pure coconut water, are the key restraints in the growth of the coconut water market. The preservation of delicate coconut water is by far the most challenging task, as there is a high risk of losing the water's nutritional and therapeutic properties during processing. External pollutants, enzymatic, and non-enzymatic browning are the main factors responsible for the decomposition of coconut water.
Impact of COVID-19 in the industry
The outbreak of COVID-19 has had a significant impact on the global coconut water business. Despite high demand in several parts of the world, major retailers are experiencing severe shortages. Moreover, the demand for coconut water is higher during the summer season., i.e., March to August, in Southeast Asian nations. The ongoing pandemic has had a drastic impact during the peak sales season of coconut water in 2020 as well as 2021. Because coconut water is a convenience product rather than a necessity for a big segment of the population, its demand is projected to fall for a couple of years before regaining pace.
Global Coconut Water Market: By Form
Based on flavor, the global coconut water market can be grouped into plain coconut water and flavored coconut water. The plain coconut water segment bagged a larger share of the market in 2020. Plain coconut water, often known as organic coconut water, is healthier than mixed or inorganic coconut water. In its natural form, it is known as a powerhouse of sodium, potassium, and magnesium, which enhance the rehydration process. Also, organic coconut water contains a negligible quantity of chemicals for which its demand is growing globally.
Global Coconut Water Market: By Packaging
The global coconut water market is segmented into Tetra Pack and Plastic Bottle. The tetra pack segment leads the market and accounts for a major share. Tetra-packaging gives the beverage contained inside a lengthy shelf life, which also aids in the protection of the content against contamination by microbes and germs. Also, it protects the product for months at a time. The tetra pack is made up of several layers. Each layer is made up of several components such as paperboard made from wood, and polyethylene, a type of polymer, and aluminum.
Global Coconut Water Market: By Distribution Channel
Based on the distribution channel, the global coconut water market is categorized into supermarkets & hypermarkets, convenience stores, online retail stores, and other distribution channels. Supermarkets & hypermarkets segment dominates the market among all the distribution channels. These channels sell a variety of commodities and usually serve as a one-stop-shop for all of your daily needs. However, since a majority of consumers are currently shifting to online channels to abide by the social distancing norms, the online retail segment is also likely to witness significant growth during the forecast period.
Global Coconut Water Market – Regional Insights
Based on region, the global coconut water market is grouped into North America, Latin America, Europe, the Asia Pacific, Middle East, and Africa. The Asia Pacific has captured the highest share in the global pure coconut water market in revenue terms, due to the high intake of coconut water and rising production of coconuts in the emerging economies in the region. North America records the second-highest revenue share in the global pure coconut water market, due to the rising demand for packaged organic food & beverage products.
Recent Developments in Global Coconut Water Market
· [M1] In April 2021, Country Delight, a Gurugram (India)-based consumer-centric daily essential brand launched Country Coconut Water. The brand guarantees around 300 ML of fresh, tender, and naturally sweet coconut water.
· In January 2021, a Kerela duo launched their Royal Karikku venture to sell young green coconuts with expiry dates to help enhance farmer incomes. The Royal Karikku is buying coconuts from about 20 farmers in Kerala, India, and is looking to connect with a few more.
Global Coconut Water Market Competitive Landscape
The key players in the global coconut water market are All Market Inc., THE Coca-Cola Company, Naked Juice Company, Taste Nirvana International Inc., C2O Pure Coconut Water, LLC, Cocowell, Amy & Brian Naturals, PT. Pacific Eastern Coconut Utama., Cocojal, Fruteb [M2] S/A, LemonConcentrate S.L., Nariyal Cool, Nam Viet Food & Beverages Co. Ltd., Zico Beverages LLC, Cowa, Dharma By Kova Kft., Ben Tre Import and Export Joint Stock Corp (BETRIMEX ), Nature’s Coconut and other key manufacturers.
The coconut water market is somewhat fragmented. The market's leading players are concentrating on growth strategies such as mergers and acquisitions, besides improving their distribution capacities, in order to expand their market position. Moreover, government programs for endorsing coconut farming, along with significant investments for the expansion of coconut cultivation, particularly in countries such as the Philippines, are likely to drive the market in the coming years. Such initiatives also bolster the confidence of new firms looking to enter the industry.
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia
By Form, By Packaging, By Flavor, By Distribution Channels, By Region
Key players in the global coconut water market are All Market Inc., THE Coca-Cola Company, Naked Juice Company, Taste Nirvana International Inc., C2O Pure Coconut Water LLC, Cocowell, Amy & Brian Naturals, PT. Pacific Eastern Coconut Utama., Cocojal, Fruteb S/A, LemonConcentrate S.L., Nariyal Cool, Nam Viet Food & Beverages Co. Ltd., Zico Beverages LLC, Cowa, Dharma By Kova Kft., Ben Tre Import and Export Joint Stock Corp (BETRIMEX ), Nature’s Coconut and other key manufacturers.
· By Form
· By Packaging
o Tetra Pack
o Plastic Bottle
· By Flavor
o Plain coconut water
o Flavored coconut water
· By Distribution Channels
o Supermarkets and hypermarkets
o Convenience stores
o Online retail stores
o Other distribution channels
· By Region
o North America
o Latin America
o Asia Pacific
o Middle East
1. What is the current size of the global coconut water market?
Answer: Global coconut water market has reached USD 4.4 Billion in 2020.
2. What are the major factors driving the growth of the global coconut water market?
Answer: Rising health awareness among the population is one of the main reasons driving the growth of the coconut water market. Moreover, nowadays, many vendors are offering coconut water with natural ingredients like turmeric, ginger, and fruits, which enhance the nutritional value of tender coconut water. Furthermore, athletes and fitness fanatics favor this drink as part of their daily diet, which contributes to market growth.
3. Who are the key players in the global coconut water market?
Answer: The key players in the global coconut water market are All Market Inc., THE Coca-Cola Company, Naked Juice Company, Taste Nirvana International Inc., C2O Pure Coconut Water, LLC, Cocowell, Amy & Brian Naturals, PT. Pacific Eastern Coconut Utama., Cocojal, Fruteb [M3] S/A, LemonConcentrate S.L., Nariyal Cool, Nam Viet Food & Beverages Co. Ltd., Zico Beverages LLC, Cowa, Dharma By Kova Kft., Ben Tre Import and Export Joint Stock Corp (BETRIMEX ), Nature’s Coconut and other key manufacturers.
4. Which flavor segment accounted for the largest share in the global coconut water market?
Answer: Plain coconut water segment, by flavor, accounted for the largest share in the global coconut water market.
5. Which application segment accounted for the largest share in the global coconut water market?
Answer: The supermarkets & hypermarkets segment is growing at a higher rate in the global coconut water market.
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