Coconut water market: Key market research findings
- Increase in coconut water consumption owing to its health benefits
- Innovative packaging of coconut water and growing usage in food chains
Technavio has added a new market research report on the global coconut water market to its food and beverage portfolio. The coconut water market is expected to generate revenue worth US $4 billion between 2015 and 2019, thanks to the increasing sales of natural drinks among health-conscious consumers.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Several companies have started new innovative packaging technologies to generate higher sales of coconut water.. Some vendors like Pearl Coconut are selling coconut water in coconut shaped bottles. Similarly, Jax Coco has proposed re-cyclable glass bottle for its coconut drink products. Many food service locations are offering coconut water as a mainstream drink, replacing other soda drinks. Flavored coconut water with chocolate, banana, lemon, pomegranate, lemonade, espresso coffee, and chili extract have become very popular among consumers,” says Sriram Mohan, Lead Analyst, Food & Beverage, Technavio Research.
Coconut water has emerged as the most suitable alternative to carbonated drinks, juices and nectars, which contain high sugar and fat content. People are opting for coconut water as a natural energy drink as it is free from artificial flavors, sweeteners, preservatives, additives, and gluten, ad replenishes the body fluids much better than sports drinks. Other benefits of coconut water include reducing blood pressure, weight reduction, smooth skin, and easy digestion.
Currently, sweetened coconut water segment dominates the market with 75% of the total market share. However, unsweetened segment is expected to witness the fastest market growth rate of around 22% during the forecast period, thanks to consumers’ increasing preference for natural products with low sugar content.
The key vendors in the global coconut water market are PepsiCo, Coca-Cola, and Vita Coco. The market is marked by the presence of a small number of suppliers. Vita-Coco, a leading provider, is the major revenue contributor in the market. The low capital cost involved in setting up the bottling plant for coconut water is expected to attract small-scale industries to this market.
A more detailed analysis is available in the Technavio report, Global Coconut Water Market – Market Research Report 2015-2019.