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Coconut Water Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 155 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4987388
Coconut Water Market is projected to grow at a CAGR of 6.3% in the upcoming five years.

The segment of sweetened coconut water, which accounts for the lion's share of sales, dominates the coconut water market. The unreported sugar content in some coconut water brands can pose a problem for the industry's expansion. Due to consumer preference, packaged RTD Coconut water drinks are gaining ground in developed nations like the United States. Beverages with immunity-boosting and other functional qualities are becoming more popular due to the rising demand for available drinks. Since coconut water is also known for boosting immunity, prominent producers are progressively incorporating it into the standard healthy hydration category to take advantage of the market opportunity.

Fitness and health are essential to consumers. Natural alternatives to caffeinated and sugar-based energy drinks have become more popular among active and health-conscious customers. Coconut water has a low fat and sugar content and a low-calorie count. It's also beneficial for people with diabetes. Due to its nutritious characteristics, such as electrolytes and minerals, the demand for coconut water is fast increasing. Additionally, coconut water is preferred by vegan consumers in the market for its vegan properties. With increasing inclinations toward vegan beverages in the market, coconut water is one of the commonly preferred plant-based beverages for its natural and minimal processing, as coconut can be consumed without additional ingredients.

Coconut Water Market Trends

Growing Preference for Natural Drinks

Globally, consumers are becoming more health-conscious and seeking healthier products such as coconut water, which is marketed as a dehydrator, a natural diuretic, a digestive soother, and a cholesterol-lowering effect. Low-sugar products are appreciated by consumers, which is quite seen in the increase in sales of coconut water across various countries in recent years. The consumption of organic products is increasing in developed regions such as Europe and is quite positively influencing the consumption of organic coconut water. With more and more innovative coconut products introduced into the market, the demand for these products is expected to grow during the forecast period. Moreover, coconut is widely preferred by consumers with inclinations towards sports as coconut water is commonly referred to as a natural energy drink as it contains antioxidants and other nutritional properties which help regain lost energy during sports participation. This accelerated the usage of coconut water among consumers in the market.

Asia-Pacific Dominates the market

The Asia-Pacific is expected to dominate the market in terms of packaged coconut water consumption, particularly in China, India, Indonesia, and Australia. Coconut water is highly valued in Thailand as one of the healthiest beverages. Its clear and slightly sweet-tasting liquid from green coconuts is isotonic and has a high potassium content. This makes it a perfect choice of a refresher for restoring the body's nutrient balance after sports among the millennial population in the region. Since Asia-Pacific is one of the major producers of coconut water in the region, the quality of exporting products from the country largely depends on the processing methods followed by major companies. For instance, South East Asia's food and beverage manufacturer Tipco offers coconut water which undergoes UHT processing followed by filling in aseptic carton packs to ensure the nutrient coconut water is treated and packed gently. With an increase in the number of multinational companies setting up their manufacturing plant in the region, the market growth for these products is expected to grow during the forecast period.

Coconut Water Market Competitor Analysis

The market for coconut water is moderately fragmented. The key players in the market are focusing on growth strategies such as mergers and acquisitions and expanding their distribution capabilities to widen their presence in the market. Product launches, free from claims, and organic and natural origin claims were a few of the competitive strategies adopted by the manufacturers in the market. PepsiCo Inc, the Coca-Cola Company, C2O Pure Coconut Water, LLC, Amy & Brian Naturals, and All Market Inc are some prominent players operating in this market. Additionally, the emergence of new entrants is observed in the market as the product requires minimum processing, encouraging the new entrants to market their product.

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  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 Flavor
5.1.1 Plain coconut water
5.1.2 Flavored coconut water
5.2 Distribution Channel
5.2.1 Supermarkets and hypermarkets
5.2.2 Convenience stores
5.2.3 Online retail stores
5.2.4 Other distribution channels
5.3 Geography
5.3.1 North America United States Canada Mexico Rest of North America
5.3.2 Europe Germany United Kingdom France Italy Spain Russia Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia Rest of Asia-Pacific
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa South Africa Saudi Arabia Rest of Middle-East and Africa
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 All Market Inc
6.3.2 Amy & Brian Naturals
6.3.3 C2O Pure Coconut Water, LLC
6.3.4 Harmless Harvest, Inc
6.3.5 MOJO Organics Inc
6.3.6 PepsiCo Inc
6.3.7 The Coca-Cola Company
6.3.8 Pulse Beverage Corp
6.3.9 Del Monte Foods
6.3.10 Taste Nirvana

Companies Mentioned

A selection of companies mentioned in this report includes:

  • All Market Inc
  • Amy & Brian Naturals
  • C2O Pure Coconut Water, LLC
  • Harmless Harvest, Inc
  • MOJO Organics Inc
  • PepsiCo Inc
  • The Coca-Cola Company
  • Pulse Beverage Corp
  • Del Monte Foods
  • Taste Nirvana