Packaged Coconut Water Market Overview:
The increased awareness over health and nutrition is gaining the demand for packaged coconut water. The global Packaged Coconut Water Market is valued at $2.68bn and a CAGR of 24.2% during the forecast period 2018-2023. Americas is the dominant player in the market with a CAGR of 23.9 % during the forecast period. The Brazilian Market for packaged coconut water is the largest market compared to the other regions. The organic beverages grew by 8.6% in a constant retail value in 2015 which was higher than the global retail value. The changing consumer tastes and increasing health concerns are driving the market in this region. Canadian market for packaged coconut water is slowly making it entrance in ethnic food stores and outdoor events. The high cost of the coconut water in the U.S and Canada is restraining the market to grow in this region. The APAC region is gaining popularity over the demand of coconut water due to the easy access of the raw material thereby helping the market to grow.
Packaged Coconut Water Market Outlook:
Coconut Water is a nutritious and healthy water obtained from the coconut tree. The drink is highly rich in minerals, vitamins, amino acids and electrolytes needed for the body. The increasing health concerns of dehydration and digestive muddle has increased the demand for fresh coconut water. The Coconut water is available in different flavors like mango, pineapple, lime, matcha tea and other flavors. Pineapple flavored coconut water is growing at a CAGR of 23.3% during the forecast period. The pineapple flavored drink is abundant in potassium, fat and is cholesterol free due to which it is attracting health conscious consumers globally thereby helping the market to grow.
Packaged Coconut Water Market Growth drivers:
The growing awareness among consumers to consume healthy drinks has increased the demand for coconut water globally. The coconut water is rich in antioxidants and minerals which are required for the human body. Increased investments and pro-government policies in coconut farming is boosting the market. Food changing habits coupled with rapid urbanization is an another factor strengthening the market for packaged coconut water.
Packaged Coconut Water Market Challenges:
The high price of coconut water is a major factor which is retaining the growth of consumer base for packaged water in many regions like the U.S. and Canada. The high costs levied in production is hampering the market to grow. Ambiguity over the consumption of coconut water being natural which is claimed by the major companies is also one of the reasons which is challenging the market. For Example : In, 2012 the Canadian based Consumer Law Group launched a action suit against Vita Coco brand, alleging deceptive marketing with regards to product ingredients and amount of nutrients found in the product thereby proving to be muddled regarding the sales of coconut water in this region.
Packaged Coconut Water Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Packaged Coconut Water Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the key global Packaged Coconut Water Market players, to define, describe and analyze the sales value, market share, SWOT analysis and development plans in upcoming years.
Packaged Coconut Water Market Report: Industry Coverage
Packaged Coconut Water Market- By Type: Organic and Inorganic Coconut Water.
Packaged Coconut Water Market-By Packaging Type: Plastic bottle, metal can, tetra pack and pouches
Packaged Coconut Water Market- By Distribution Channel: Supermarkets, Hypermarkets, convenience stores and others
Packaged Coconut Water Market- By Flavor: Flavored and Unflavored.
The Packaged Coconut Water Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Packaged Coconut Water Market Key Players Perspective:
The major Key players for Packaged Coconut Water Market are Coca Cola, PepsiCo Inc., Chi venture, cocojal and others
Market Research and Market Trends of Packaged Coconut Water Market:
- Genuine Coconut Water, A company in the U.K. has launched a coconut drinking water directly from the coconut shell without any processing of the coconut water.
- Researchers , prepared a refreshing beverage combining lemon juice and coconut water to increase the shelf life of the beverage up to 6 months which is a significant achievement for the market.
- Major Players Vita Coco and ZICO are offering more of their product into new formats. Vita Coco will launched its largest offering yet, a 1.5 L size coconut water packaged in a PET bottle to be sold alongside refrigerated juices and dairy beverages.
- The development of coconut water through applying high isostatic pressure is gaining importance in the recent times as it shows better results in processing of water