DUBLIN--(BUSINESS WIRE)--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.
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.
Market Dynamics
Drivers
- Increasing Inclination of Consumers towards Health & Wellness
- Growing Prevalence of Lifestyle Disorders
- Rising Interest in Hydration and Energy Drinks
- Surging Geriatric Population
- Rapid Urbanization
- Escalating Global Average Temperature
Challenges
- Huge Gap between the Two Ends of the Coconut Water Supply Chain
- Preservation of Tender Coconut Water
- Misleading Practices of Some of The Coconut Water Brands
Market Trends
- Surging Number of Fitness and Health Clubs
- Growing Preference for Natural & Plant-based Drinks
- Rising Government Initiatives for Promoting Coconut Farming
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.
For more information about this report visit https://www.researchandmarkets.com/r/htqsng
