ID: MRFR/F-B & N/5709-HCR | 90 Pages | Published By Snehal Singh on March 2023
Packaged Coconut Water Market Size is anticipated to reach USD 4,011.57 Million by 2030, registering a CAGR of 7.93% during 2022-2030.
Packaged Coconut Water Market is expected to grow USD 4,011.57 Million at a CAGR 7.93% during the dorecast 2022-2030.Coconut water is clear water found inside the raw coconuts, which is a sweet and nutty flavored liquid, generally consumed directly in Asian countries. Since the farming methods and climatic conditions don’t support in other parts of the world, a huge population is inclined toward packaged coconut water. The expansion of the food industry and the experimenting mentality of the food lovers are propelling them to utilize coconut water in various forms of food. The potential benefits of consuming coconut water like low calories preventing dehydration, and the presence of essential nutrients were propelling a huge population towards the packaged coconut water. The awareness regarding healthy lifestyles and trends is also increasing the packaged coconut water market value in recent times.
Covid 19 Analysis:
COVID 19 pandemic has created a serious negative impact on several industrial verticals. The status of the food and beverage sector and other essential sectors were holding the higher demand during the pandemic. The operations and key functionalities were reduced across the manufacturing industries, due to disruptions in the supply chain, and issues related to logistics were also reduced. However, the pandemic has created awareness among a huge population about healthy living standards and healthy lifestyles. The manufacturers were also looking for organic and inorganic strategies to promote the packaged coconut water market. They were utilizing coconut water in the production of dairy products, baked goods, drinks, nutrition bars, and significant others. Such factors were propelling the overall growth of packaged coconut water market amid COVID-19.
The advent of novel technologies and marketing strategies in the packaged coconut water market, especially the online segment is expected to hold a market share of over 17% by the year 2030. The convenience and other factors like subscriptions are propelling the potential consumers to take advantage of the schemes and discounts. Such factors are considered the major drivers of packaged coconut water market growth.
The convenient packaging methods and tetra packaging are projecting the overall growth of packaged coconut water market in recent times, and it was holding over 40% market share in the year 2021 and is expected to grow with a steady growth rate, the ability of the tetra packaging to protect the contents from contamination by bacteria and microbes and extending the shelf life; light packaging and varied layers of the packaging itself helps to retain the taste and quality of the contents and significant other factors that are propelling the overall growth of packaged coconut water in the recent times.
The increasing awareness regarding the health-related concerns and the doctors prescribing coconut water as a remedy for metabolic disorders like obesity, kidney stones, liver damage, hypertension, and significant others are presenting lucrative opportunities for the overall growth of packaged coconut water market. Moreover, athletes and fitness enthusiasts are increasingly consuming packaged coconut water and including them in various diet forms. Moreover, the emergence of social media is creating a huge impact on a huge population toward a healthy diet which is expected to create lucrative opportunities for the overall growth of packaged coconut water market during the forecast period.
The emergence of supportive government regulations over coconut farming and increasing investments to develop coconut cultivation and increasing labor for efficient farming are presenting lucrative opportunities for the overall growth of market during the forecast period. Previously the offline stores were projecting higher demand for packaged coconut water as they were catering to the major food demands for the urbanized population, in recent times, online vendors are outgrowing the demand and they are offering discounts and making it convenient for the potential users, thereby expected to stimulate the packaged coconut water market growth during the forecast period.
The demand for organic foods among the consumers is restricting the utilization of preservatives in the packaged coconut water has restricted the prolonged shelf life of the product.
The higher costs of packaged coconut water, owing to the convenient packaging, and complex processing methods are some of the key factors that are hindering the overall growth of packaged coconut water market.
The fluctuation in the price of coconut water and the higher production costs are considered major challenges for the overall growth of packaged coconut water market.
The confusing statements produced during marketing are considered as the major challenge for market growth. Recently, the Canadian-based consumer law has taken action against one of the leading market players, Vita coco brand for deceptive marketing statements and regarding the ingredients in the packaged coconut water. Such factors have affected the overall sales of packaged coconut water and thereby restricted the overall growth of packaged coconut water market.
Cumulative Growth Analysis:
The packaged coconut water market growth is highly influenced by the increasing prevalence of life-threatening diseases caused due to lack of nutrients like potassium, sodium, manganese, and calcium. The manufacturers are also focused on bringing in the organic product to the consumers since the natural coconut water without any chemical substances added to it. Coconut water also contains cytokines, phytohormones, and other elements that possess anticarcinogenic and antithrombic properties. Therefore, the demand for coconut water is higher across the globe. Since the growth of coconut trees requires certain temperature and soil conditions, the demand for packaged coconut water is rising in recent times.
The increasing awareness regarding coconut water and considering it as the best alternative for energy drinks are some of the key factors that are promoting the overall growth of packaged coconut water market. The demand for fresh fruits and organic foods is increasing in recent times, which has stimulated the demand for packaged coconut water as well. Moreover, the presence of technical advancements in the food processing industry is also promoting the packaged coconut water market in recent times.
Value Chain Analysis:
The health benefits associated with drinking natural coconut water are considered as the key driver of packaged coconut water. The busy life and hectic schedules across the urbanized countries and regions combined with the increasing awareness created by the organizations are promoting the overall growth of packaged coconut water market. The technological advancements in the industry and the advent of convenient packaging are playing a crucial role in the growth of packaged coconut water market. The changing purchasing habits and the awareness regarding aerated drinks, energy drinks, and the negative effects caused by them due to the addition of added sugars in them are propelling the overall growth of packaged coconut water in recent years.
The demand for fast and easy home-prepared food is increasing in developed countries, due to the vast number of ideas shared in social media on utilizing the natural ingredients to prepare quick and healthy food are some of the key factors that are increasing the demand for packaged coconut water market. The packaged coconut water is utilized in preparing smoothies, shakes, overnight oats, and significant other breakfast dishes. Moreover, the potential benefits of consuming coconut water that includes, preventing diabetes, obesity, kidney stones, liver damage, hypertension, and significant others are propelling the overall growth of packaged coconut water market.
Based on Category
Based on packaging
Based on Distribution Channel
American countries are expected to hold the highest market share concerning the packaged coconut water market, as the market value of the coconut water industry was holding over 25% in the year 2021 and increasing production of coconuts across Brazil and neighboring countries are propelling the overall growth of packaged coconut water market across American countries. The demand for health drinks prepared from coconut water as a base like agua de coco is also propelling the packaged coconut water market across the region.
On the other hand, Europe is expected to grow at a steady pace registering a CAGR of 17.6% during the forecast period, owing to the increasing demand for health drinks and the presence of multinational companies bringing in novel brands and products across the region. The launches focus on the varied taste preferences of the consumers, and they are working towards bringing in the flavors naturally to the packaged coconut water. Such products are presenting lucrative opportunities for the overall growth of packaged coconut water market across European countries.
In the year 2021, one of the leading market players, Vita COCO had launched a sparkling type of coconut water that had efficiently replaced the sugar-loaded energy drinks across the region. Later the company had brought in varied flavor combinations like Pineapple and passion fruit, lemon and lime, and significant others. This product is suitable to be served as a cocktail in bars and restaurants.
In the year 2021, one of the leading market players, TAJA coconut company had launched a non-GMO and sugar-free bottled coconut water that had undergone cold-filtered three-part process. The extraction of the coconut water was complex, yet the product is considered of supreme quality. Therefore, the final product was balanced in flavors and crystal clear in appearance.
This report has covered:
|Market Size||USD 4,011.57 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Category, Packaging Type, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||All Market Inc., Naked Juice Company, New Age Beverages Corporation, Celebes Coconut Corporation, Elegance Brands, Inc., Vaivai SAS, Elegance Brands, Inc., C2O Pure Coconut Water, LLC, PepsiCo (O.N.E. Coconut Water), The Coca-Cola Company (ZICO), Harmless Harvest, and COCOZZA|
|Key Market Opportunities||Increasing awareness regarding the health-related concerns, Emergence of social media|
|Key Market Drivers||Convenient packaging methods and tetra packaging|
All Market Inc., Naked Juice Company, New Age Beverages Corporation, Celebes Coconut Corporation, Elegance Brands, Inc., Vaivai SAS, Elegance Brands, Inc., C2O Pure Coconut Water, LLC, PepsiCo (O.N.E. Coconut Water), The Coca-Cola Company (ZICO), Harmless Harvest, and COCOZZA are the major market players in the packaged coconut water industry.
Bottles, Pouches, and Cans are the different packaging types used in the packaged coconut water industry.
North America is expected to register the highest CAGR during 2022 to 2030.
The global market for packaged coconut water is growing at a CAGR of 7.93% over the forecast period.