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Technavio’s market research analyst predicts the global coconut water market to grow at an impressive CAGR of close to 27% between 2016 and 2020. Coconut water has become a perfect alternative to several carbonated drinks and sugar-laden drinks such as juices and nectars. It is a health drink, enriched with sodium, potassium, and electrolytes that can replenish body fluids. Coconut water also meets consumer demand for drinks that are free from artificial flavors, sweeteners, preservatives, additives, and gluten. Coconut water also helps in reducing blood pressure, which is a major reason for the increased demand for packaged coconut water over other fruit drinks. Some of the other health benefits of coconut water include weight reduction, enhanced skin texture, and improved digestion. Also, the growing popularity of coconut water in foodservice chains will contribute to the growth of the overall market during the forecast period. Many restaurants and eateries in the US and other countries are offering new health beverage products, such as coconut water, as a mainstream drink in their menus.
Geographically, the Americas dominated the global market during 2015, where the US is the largest consumer of coconut water in the region. Consumers are now shifting from high-sugar carbonated soft drinks to more natural drinks such as coconut water. New product introductions such as flavored coconut water and other innovative products will act as key growth drivers of the market in the region.
The global coconut water market has huge potential and is likely to witness tremendous growth during the forecast period. The major market players such as Coca-Cola, PepsiCo, and Red Bull have made massive investments in several regions across the globe, which will have a positive impact on the overall market. Price, quality, product differentiation, distribution, and promotion are the key factors based on which the vendors compete. It is crucial for the vendors to focus on innovations in terms of blending, flavor, and taste to retain customer loyalty in the market. The low capital cost involved in setting up the bottling plant for coconut water is attracting new entrants, which will further intensify the competition in the coconut water market.
Some of the leading vendors in the market are –
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The unsweetened water segment is expected to grow at a faster rate compared to the sweetened segment over the predicted period. The increase in consumer demand for beverages without added-sugar and other preservatives is the major driving factor for this segment’s growth. Some of the major vendors in the unsweetened coconut water segment include Coco Libre, Purity Organics, ZICO, and Zola. It is important for the manufacturers to label their products accurately to represent that they do not contain any amount of sugar. The unsweetened coconut water is bland in terms of taste and does not interfere with any other flavors. It is a 100% juice product with simple ingredients and can be developed with an ideal viscosity level and an improved nutritional profile.
Flavored coconut water is gaining popularity in the market due to the increase in demand for nutritious, blended better-for-you beverages among the millennials across the globe. Consumers are opting for natural flavoring agents and without any added sugar coconut water. For instance, Purity Organic, a US-based manufacturer of different varieties of organic coconut water, offers Pineapple Coconut Water and Organic Mango Coconut Water, which are a natural source of hydration prepared with no added sugar.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Technological outlook for processing coconut water
PART 07: Market segmentation by product type
PART 08: Market segmentation by flavor type
PART 09: Geographical segmentation
PART 10: Market segmentation by distribution channel
PART 11: Key leading countries
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Market trends
PART 17: Competitor analysis
PART 18: Appendix
PART 19: Explore Technavio
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