Increased Popularity of Ready-to-Drink Beverages
will Boost Demand for Coconut Water
Coconut water is a popular
beverage, owing to its hydrating and cooling properties. Increasing health
awareness and demand for organic products will drive market growth. Consumers'
preference for coconut water as a cure for a number of metabolic disorders and
other ailments grows as the prevalence of lifestyle-related diseases rises. In
addition, the companies sell packaged coconut water with a range of
natural components such as ginger, turmeric and fruits to enhance the
nutritional content. These products are becoming increasingly popular among
athletes and fitness enthusiasts, fuelling the expansion of the coconut
water market. Additionally, the booming food and beverage industry is
contributing to the growth of the coconut water market. With an increase in the
number of quick service restaurants (QSRs), the growing cafe culture has
expanded the use of coconut water blends and emphasised a variety of innovative
recipes. The increased popularity of ready-to-drink products will boost demand
for coconut water during the forecast period. The growing demand for coconut
water, especially in regions where coconut trees are scarce, is a major driver
of the expansion of the international market for coconut water.
Growing Preference for Low-Calorie Natural
Drinks & Nutritious Plant-Based Beverages Drives the Coconut Water Market
Demand for coconut water will be
driven by rising demand for low-calorie drinks and increased awareness of the
benefits of coconut water. Obesity, cardiovascular disease, and diabetes are
just a few of the health issues that come with excessive use of sugar and
carbonated beverages that affect people of all ages, from young children to the
working class. Coconut water supports kidney health, cardiovascular
health and blood pressure levels. In recent years, consumers around the
world have adopted a variety of healthy and nutritious
beverages to maintain a healthy lifestyle. Consumption of coconut water is
increasing due to its related health benefits, that is driving the growth of
the global coconut water market. The market is expected to expand rapidly
over the forecast period, owing to an increase in the number of fitness and
health clubs, a rising demand for natural and plant-based drinks and
increased government initiatives to promote coconut farming. Plant-based diets
are growing increasingly popular around the world as consumers become more
health-conscious and seek healthier products. Cereal, almond and
coconut-based drinks are some of the most commonly used dairy alternatives.
Coconut water is also utilised as a component in plant-based drinks, not only
to reduce sugar consumption, but also to boost the overall nutritional content
of the finished product. The expansion of the plant-based beverage market is
contributing to the growing use of coconut water.
Shorter Shelf Life, Certain Environmental
Factors, Adulteration and Preservation Challenges are Bringing a Threat to
Market Participants
Limited shelf life of coconut
water is one of the major reasons restraining the growth of the global market. Many
environmental factors affect the production of coconut. Changes in
environmental factors may result in changes in crop production or quality.
Unpredictable environmental changes affect the supply of raw materials, thereby
impacting the coconut water market. Furthermore, fruits are often
contaminated with chemicals such as citric acid, ethylene and others to
increase their shelf life or make them delicious and fresh. The adulterated raw
material does not produce the required output and quality, thus limiting the production
and quality of the coconut water market. To supply the global demand for
coconut water throughout the year, preservation and processing are critical.
The most challenging problem is preserving delicate coconut water as processing
procedures may result in the loss of nutritional and therapeutic qualities. The
high cost of packaging, production and distribution of coconut water is also hampering
the market growth.
Coconut Water is Becoming Widely Available
with the Introduction of New Products and the Expansion of Distribution Systems
Due to the growing demand for
healthy beverages among millennials, several companies have launched their
products in different countries. The coconut water market is moderately
fragmented, the market's leading players are focused on growth strategies
such as mergers and acquisitions and expanding their distribution capacities. Moreover,
new competitors are emerging in the coconut water market as the product
requires less processing, therefore, new entrants are encouraged to promote
their products. Taja Beverages introduced a new sugar-free, non-GMO coconut
water in Feb 2019. The aim is to provide consumers with coconut water
that is light in colour and has a balanced flavour. TAJA's patented,
cold-filtered three-step technology extracts coconut water while preserving all
nutrients. Del Monte Foods, Inc. launched its first packaged coconut water
in India in June 2021. According to the company, King Coconut Water is high in
electrolytes and helps hydrate and replace lost body fluids and
it contains sodium, potassium, and calcium. Hydro Coco VITA-D, the
first vitamin D3 drink, was introduced by Indonesia's Kalbe Farma Tbk PT in
Jan 2022. Producers are promoting coconut water products based
on nutritional properties, health benefits, product quality, natural product,
organic product and other factors.
Taste Nirvana International Inc.,
Nestle S.A., Vita Coco (All Market, Inc.), Harmless Harvest, Inc., Amy &
Brian Naturals, Zico (The Coca-Cola Company), PepsiCo, Inc., MOJO Organics Inc,
The Coco Coast Company, Goya Foods, Inc., Wai Koko Coconut Water, C2o Pure
Coconut Water, LLC, Taja Beverages, Kalbe Farma Tbk PT and Del Monte Foods,
Inc. are some of the well-known market players that are operating in the global
coconut water market.
The High Nutritional Value of Coconut Water
is Increasing Consumer Demand for Organic Packaged Beverages
According to the International
Organization of Scientific Research (IOSR), Indonesia, Philippines and India
are the top three countries in area, production and productivity of coconut. Owing
to increasing consumption of coconut water and rising coconut production in the
region's developing countries, Asia Pacific has the highest share of the global
market for coconut water. Due to rising demand for organic
packaged beverages, the North American market accounts for the second
largest revenue share of the coconut water market. The Middle East and
Africa markets are expected to experience the fastest market growth, owing to
rising demand for packaged food and beverages, as well as growing use of
packaged coconut water in the region. Furthermore, during the forecast period,
the European and Latin American markets are expected to rise moderately, as coconut
water is consumed in Brazil and other neighbouring countries. Due to high
demand, the product is now available in almost every retail store. Apart from
being consumed as a nutritious health drink, the drink is widely used to treat
hangovers. The major factors driving the growth of the coconut water market
during the forecast period are the increasing consumption of coconut water and
increasing awareness about the health benefits in various health and fitness
institutions across developed and developing countries. Concerns about human
health, sustainability and animal welfare fuelled the growing interest in
plant-based diets and it appears that the COVID-19 pandemic has only
accelerated this trend. As a result of increased consumption of functional and
immunity-boosting products, the demand for coconut water increased
significantly during the pandemic and is expected to continue during the
forecast period.
The report provides a detailed
overview of the coconut water market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for coconut water market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR
estimates are also incorporated for every country and region, to provide a
detailed view of the coconut water market. These Y-o-Y projections on regional
and country-level markets brighten the political, economic and business
environment outlook, which are anticipated to have a substantial impact on the
growth of the coconut water market. Some key country and region included in the
coconut water market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy,
U.K., BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN,
India, Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Coconut Water Market Research Report
Covers In-depth Analysis on:
·
Coconut water market segments
·
Coconut water market dynamics
·
Coconut water market value and share analysis
·
Recent trends, restraints, opportunities in coconut
water market
·
Companies & competition involved coconut
water market
·
Latest technologies in coconut water market
·
Supply chain and value chain coconut water
market
·
Coconut water market sales and distribution
strategies
Coconut Water Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size
in terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Coconut water industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on coconut water market
forecast by countries
·
Essential information to enhance market position
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