June 07, 2021
According to the research report titled ‘Global Coconut Water Market Size study, by Packaging (Tetra Pack, Plastic Bottle and Others), Form (Powder and Liquid), Distribution Channel (Online and Offline) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global coconut water market was worth USD 4.27 billion in 2019 and is anticipated to record 16.1% CAGR over 2020-2027, amassing a valuation of USD 14.10 billion by the end of the forecast timeframe.
Shifting consumer preferences from sugary and carbonated drinks to healthy beverages, along with increasing investment by major firms in technology and new product development are fueling global coconut water market growth. For instance, TAJA Coconut introduced non-GMO and bottled coconut water free from sugar in 2019 as the company started leveraging innovative technologies in their manufacturing process. Similarly, Vita Coco also launched sparkling coconut waters in the United Kingdom in 2019 as a healthy alternative to sugary beverages.
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Further, rising obesity cases due to sugar drinks and growing inclination of gym goers and athletes towards coconut water are further adding to industry progression.
Speaking of the factors restraining the growth of worldwide coconut water industry, short shelf life and health implication like loss of consciousness on excess intake and acute kidney failure are posing a threat to threat to businesses in this domain.
Based on packaging type, the market is split into plastic bottle, tetra pack, and others. As per form, the industry is segmented into liquid and powder. With respect to distribution channel, global coconut water market is categorized into offline and online.
Elaborating on geographical landscape, Europe presently holds significant portion of global coconut water market share, owing to mounting demand for healthy beverages among millennials.
On other hand, Asia Pacific industry is expected to accrue noteworthy gains through 2027, attributable to developing healthcare infrastructure, increasing cases of injuries, and rising disposable income.
Prominent firms in global coconut water market sphere are Elegance Brands Inc., Harmless Harvest, The Coca-Cola Company (ZICO), PepsiCo (O.N.E. Coconut Water), C2O Pure Coconut Water LLC, Amy & Brian Naturals, Celebes Coconut Corporation, New Age Beverages Corporation, Naked Juice Company, and All Market Inc.