Coconut Water Market is Expected to Reach USD 21.58 Million by 2030; Growing Awareness of Health Issues among the General Public to Promote Growth: “Increasing Prevelence of the Covid-19 Infectious Diseases with Growing Awareness About Healthy Drinks”

 

The coconut water market size is anticipated to grow from USD 5.0 million in 2020 to USD 21.85 million by 2030, growing at a CAGR of 16% during the forecast period. This information is published by ““Decision Foresight”“, in its report, titled, “Coconut Water Market, 2021-2030.”

As per our researchers, People all over the globe have been progressively embracing a variety of nutritious and nutritional beverages in order to maintain a healthy lifestyle in recent years. Excessive use of sugary and carbonated beverages causes a variety of health problems, including obesity, cardiovascular disease, and diabetes, in people of all ages, from children to the working class. As a result, coconut water may be used as a substitute for carbonated beverages since it is good for all of the aforementioned diseases, particularly weight loss. This is expected to amplify the demand and promote the coconut water market growth during the forecast period.

COVID-19 Impact:

Rising Commercial Business Sales around the Globe amid Covid-19 Pandemic

Coconut water is commonly marketed as a hangover cure and a post-workout recovery drink, but it's now being phased out due to coronavirus fears. Vita Coco, which manufactures shelf-stable coconut waters and canned conventional waters, has seen a dramatic increase in sales, beginning two weeks ago on the West Coast. It has been growing nationally in recent days thanks to e-commerce platforms.

For instance, in the first quarter of 2021, the sales of Vita Coco coconut water on walmart.com increased by 200 percent year over year, and sales on Amazon increased by 60 percent. Even though the US Centres for Disease Control has said that the virus has not been identified in drinking water, bottled, and canned water are among the items in high demand in the US as doubt grows around the coronavirus epidemic.

Report Coverage

The market report provides exhaustive analysis of the regional insights and how these factors form the market in the respective regions. The impact of COVID-19 pandemic is added for further understanding of the possible threats in the market. The efficient strategies of the top players and how they drive the market growth are discussed in the following report.

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Segmentation

The coconut water market is segmented on the basis of packaging type, flavour, portion size, end user, distribution channel, and region. By packaging type, it is categorised into plastic bottles, tetra packs, and cans. It is separated into original taste, fruit flavour, chocolate flavour, and other flavours based on flavour. It is divided into little part (less than 600m) and large portion (more than 600m) based on portion size (more than 600ml).

The report's ultimate consumers include households, food services, catering services, and others. It is divided into two categories based on distribution channel: direct distribution and retail distribution. On the basis of point of sale, market is further divided into OEM and aftermarket. In terms of region; the market is classified into North America, Middle East & Africa, Europe, Latin America, and Asia Pacific.

Drivers and Restraints

Growing Awareness of Health Issues among the General Public to Drive Market Growth

One of the main reasons driving the market's growth is the growing awareness of health issues among the general public. With the increased incidence of lifestyle illnesses, consumers are increasingly turning to coconut water as a treatment for a variety of metabolic disorders and other maladies, including diabetes, obesity, kidney stones, liver damage, hypertension, and indigestion. Vendors are also selling bottled coconut water that has been infused with natural components like turmeric, ginger, and fruits to boost its nutritious worth. These goods are getting a lot of popularity among athletes and fitness enthusiasts, which are helping the market.

In addition, the expanding food and beverage industry is helping to drive market expansion. The use of coconut water mix and concentrates in many creative meals has increased as a result of the rising café culture and the expanding number of quick-service restaurants (QSRs). Other factors, such as government programmes to promote coconut farming and major expenditures in coconut crop growth, particularly in countries like the Philippines, are expected to boost the industry in the future years.

Regional Insights                                                                                                                         

Asia-Pacific region has the highest market share in 2020, with the largest share in most populous countries such as India and China. Many Asian nations employ coconut water products in their food and beverage industries. As people become more aware of coconut water as a sports or refreshment drink, the market for pure coconut water is expanding rapidly throughout the region. In Asia-Pacific, India is the largest consumer of coconut goods, followed by Indonesia and the Philippines.

These countries likewise primarily export to developed markets including the United States, Germany, France, and the Netherlands. The fastest-growing regional market for packaged coconut water has been identified as South Africa. The country is rapidly developing, and customers perceive packaged items to be more sanitary and healthier. Organic coconut water is consumed in the United Kingdom in the amount of 25-26 million litres. Coconut water consumption is also extremely high in tropical nations where coconuts grow abundantly, such as Sri Lanka, India, Thailand, and Brazil.

Competitive Landscape

Advanced and Innovative Strategies Adopted by Leading Players to Remain Competitive

To extend their market share, increase profitability, and remain competitive in the pure coconut water market, companies also use business growth and product launch as key developmental strategies. The key players profiled in the report include Vita Coco, Taste Nirvana, Goya Foods, Craze Foods Ltd, Wai Koko Coconut Water, Harmless Harvest, Cococoast, C2o Pure Coconut Water, Foco Pure Coconut Water, Inc and Mojo Organics Inc.

Industry Development

August 2020: Elegance Brands, Inc. announced a strategic collaboration with KC Distributing in August 2020. For the next twelve months, KC Distributing will solely distribute Elegance's goods, including coconut water, as part of this arrangement. KC Distributing will repaint its delivery vehicles with Gorilla Hemp to assist improve brand awareness.

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List of Key Players Covered in this Market Report

·         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

·         COCOZIA

 

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