Global Coconut Water Market 2016-2020
Overview of the global coconut water market
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.
Competitive landscape and key vendors
The global coconut water market has huge potential and is likely to witness tremendous growth during the forecast period. The major market players such 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.
Leading vendors in the market are -
- Vita Coco
Other prominent vendors in the coconut water market include Amy & Brian Naturals, Bai, Bush Farm Trading Post Limited, C-Coconut Water, C20 Pure Coconut Water, CHI Coconut Water, Coco Libre, CocoJal, Ducoco, Edward & Sons, H2COCO, Harmless Harvest, INVO Coconut Water, ITI Tropicals, Frolic Foods, Jax Coco, nudie, Pulse Beverage Corporation, Pure Brazilian Coconut Water, Purity Organic, Raw C, Taste Nirvana International, Temple Lifestyle, Thai Agri Foods, Zola, and Zumi Natural (Coco Zumi).
Segmentation by product type and analysis of the coconut water market
The unsweetened water segment is expected to grow 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, and Naked. 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.
Segmentation by flavor type and analysis of the coconut water market
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.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global coconut water market?
- What are the key market trends impacting the growth of the global coconut water market?
- What are the challenges to market growth?
- Who are the key vendors in the global coconut water market?
- What are the market opportunities and threats faced by the vendors in the global coconut water market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
- What are the key outcomes of the five forces analysis of the global coconut water market?
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