The Worldwide Coconut Water Industry is Expected to Reach $11.7 Billion by 2027

News provided by

Oct 27, 2022, 15:00 ET

DUBLIN, Oct. 27, 2022 /PRNewswire/ -- The "Global Coconut Water Market: Analysis By Type (Pure & Mixed), By Form (Liquid & Powder), By Packaging (Tetra Pack, Plastic Bottle and Other), By Distribution Channel (Offline & Online), By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.

The global coconut water market was valued at US$5 billion in 2021, and is expected to be worth US$11.72 billion in 2027. Coconut water is the clear liquid found inside green coconuts.

It has a sweet and nutty flavor and contains easily digestible carbohydrates in the form of natural electrolytes and sugars. Rich in potassium, sodium, manganese, calcium and magnesium, it is widely consumed as a low-calorie refreshing beverage that aids in preventing dehydration. It also contains cytokines and phytohormones, which have various antiaging, anticarcinogenic and antithrombic properties.

Coconuts harvested for the coconut water, are usually gathered when around 5-7 months old and each coconut provides between 200-1000ml of coconut water. Coconut water is a fat-free, plant-based beverage rich with nutrients, minerals and electrolytes that provides enhanced hydration with fewer calories compared to other natural juices and sports drinks. The global coconut water market is determined to grow at a CAGR of 15.27% over the forecasted period of 2022-2027.

Market Dynamics:

Growth Drivers: One of the key drivers of the market's expansion is the surging increasing inclination of consumers towards health & wellness. Given the increasing inclination of consumers towards health and wellness products, the consumption of functional drinks such as coconut water is rising in the western countries including the US, U., and Germany. Moreover, the growing consumer awareness towards numerous health benefits of coconut water in improving digestive functioning, reducing hypertension, and maintaining hydration levels is further propelling the market growth. Other significant growth factors of the market include, growing prevalence of lifestyle disorders, rising interest in hydration and energy drinks, surging geriatric population, rapid urbanization and escalating global average temperature.
Challenges: However, some challenges are impeding the growth of the market such as huge gap between the two ends of the coconut water supply chain, preservation of tender coconut water and misleading practices of some of the coconut water brands. Coconut water is a refreshing natural drink, low in calories and fat, rich in minerals, vitamins, and beneficial phytohormones. The nutritional and therapeutic value of tender coconut water has resulted in increased consumption and demand globally. In the present scenario, preservation, and processing is of prime importance to meet the global demand for coconut water throughout the year. Preservation of tender coconut water is the biggest challenge as the processing methods may result in loss of nutritional and therapeutic values of the water.
Trends: The market is projected to grow at a fast pace during the forecast period, due to surging number of fitness and health clubs, growing preference for natural & plant-based drinks and rising government initiatives for promoting coconut farming. Consumers are becoming more health-conscious and seeking healthier products due to which plant-based diets are becoming increasingly popular across the world. Some of the replacements for dairy drinks that are used most often are cereal, nut and coconut-based drinks. Coconut water is also used as an ingredient in plant-based drinks, not only because of the reduction of sugar intake, but also because it improves the overall nutritional value of the final product. The growth in plant-based beverage market is continuously helping in increasing the adoption of coconut water.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic has led to the temporary shutdown of production plants in several countries, impacting food and beverage industry in the initial stages. However, as much as the pandemic has affected the supply chain operations, the pandemic has generated the need for healthy living among the consumers, due to which, consumers have shifted their attention toward nutritional food products, providing new opportunities to the coconut water market.

Concerns about personal health, planetary sustainability and the ethical treatment of animals fueled this increased attention to plant-based diets, and it appears the coronavirus pandemic has only helped accelerate this trend. Thus, the growing trend of consumption of functional and immunity-booster products, the demand for coconut water increased substantially during the pandemic times and theis trend is expected to continue.

Competitive Landscape:

The global coconut water market is highly dominated. The producers are making investments in e-commerce through various channels. The players are collaborating with retailers to expand the e-commerce business and establishing a Digital Command Centers in various regions to examine connections between consumer behaviour and financial results.

The key players in the global coconut water market are:

The Vita Coco Company
GraceKennedy Group
New Age Inc.
Harmless Harvest, Inc.
Goya Foods, Inc.
Celebes Coconut Corporation
Vaivai
C2O Pure Coconut Water, LLC
Naked Juice Company
Amy and Brian Naturals
ZICO Beverages, LLC (Powerplant Ventures, LLC)
Taste Nirvana International

The major market players are concentrating on growth strategies like mergers and acquisitions, increasing their distribution capacities, and increasing their market presence. For example, Kalbe Farma introduced coconut water Hydro Coco with vitamin D3. According to Kalbe Farma of Indonesia, Hydro Coco VITA-D is the first beverage containing vitamin D3.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis
3.1 Global Coconut Water Market: An Analysis
3.1.1 Global Coconut Water Market: An Overview
3.1.2 Global Coconut Water Market by Value
3.1.3 Global Coconut Water Market by Type (Pure coconut water and Mixed Coconut Water)
3.1.4 Global Coconut Water Market by Form (Liquid and Powder)
3.1.5 Global Coconut Water Market by Packaging (Tetra Pack, Plastic Bottle and Other)
3.1.6 Global Coconut Water Market by Distribution Channel (Offline and Online)
3.1.7 Global Coconut Water Market by Region (Asia Pacific, North America, Europe, and Rest of the World (ROW).
3.2 Global Coconut Water Market: Type Analysis
3.2.1 Global Coconut Water Market by Type: An Overview
3.2.2 Global Pure Coconut Water Market by Value
3.2.3 Global Mixed Coconut Water Market by Value
3.3 Global Coconut Water Market: Form Analysis
3.3.1 Global Coconut Water Market by Form: An Overview
3.3.2 Global Liquid Coconut Water Market by Value
3.3.3 Global Powder Coconut Water Market by Value
3.4 Global Coconut Water Market: Packaging Analysis
3.4.1 Global Coconut Water Market by Packaging: An Overview
3.4.2 Global Tetra Pack Coconut Water Market by Value
3.4.3 Global Plastic Bottle Coconut Water Market by Value
3.4.4 Global Other Packaging Coconut Water Market by Value
3.5 Global Coconut Water Market: Distribution Channel Analysis
3.5.1 Global Coconut Water Market by Distribution Channel: An Overview
3.5.2 Global Offline Coconut Water Market by Value
3.5.3 Global Online Coconut Water Market by Value

4. Regional Market Analysis

5. Impact of Covid-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Coconut Water Market
5.1.2 Surging Adoption of Plant-Based Beverages
5.1.3 Post-COVID Scenario

6. Market Dynamics
6.1 Growth Drivers
6.1.1 Increasing Inclination of Consumers towards Health & Wellness
6.1.2 Growing Prevalence of Lifestyle Disorders
6.1.3 Rising Interest in Hydration and Energy Drinks
6.1.4 Surging Geriatric Population
6.1.5 Rapid Urbanization
6.1.6 Escalating Global Average Temperature
6.2 Challenges
6.2.1 Huge Gap between the Two Ends of the Coconut Water Supply Chain
6.2.2 Preservation of Tender Coconut Water
6.2.3 Misleading Practices of Some of The Coconut Water Brands
6.3 Market Trends
6.3.1 Surging Number of Fitness and Health Clubs
6.3.2 Growing Preference for Natural & Plant-based Drinks
6.3.3 Rising Government Initiatives for Promoting Coconut Farming

7. Competitive Landscape

8. Company Profiles
8.1 The Vita Coco Company
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 GraceKennedy Group
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy
8.3 New Age Inc.
8.3.1 Business Overview
8.3.2 Operating Segments
8.3.3 Business Strategy
8.4 Harmless Harvest, Inc.
8.4.1 Business Overview
8.4.2 Business Strategy
8.5 Goya Foods, Inc.
8.5.1 Business Overview
8.5.2 Business Strategy
8.6 Celebes Coconut Corporation
8.6.1 Business Overview
8.7 VaiVai
8.7.1 Business Overview
8.8 C2O Pure Coconut Water LLC
8.8.1 Business Overview
8.9 Naked Juice Company
8.9.1 Business Overview
8.10 Amy and Brian Naturals
8.10.1 Business Overview
8.11 ZICO Beverages, LLC (Powerplant Ventures, LLC)
8.11.1 Business Overview
8.12 Taste Nirvana International
8.12.1 Business Overview