Coconut Water Market Analysis Europe - Size and Forecast 2024-2028

Europe Coconut Water Market Size 2024-2028 

The Europe Coconut Water Market size is forecast to increase by USD 901.8. million, at a CAGR of 18.58% between 2023 and 2028. The growth of the market depends on several factors, including the nutritional benefits of coconut water, which boost its appeal as a health-conscious beverage. Additionally, the rising demand for gluten-free food and beverages supports the market expansion as coconut water fits well within this trend. Marketing initiatives aimed at promoting coconut water in Europe further drive growth, as increased visibility and consumer awareness enhance its market presence. Together, these factors nutritional advantages, gluten-free trends, and targeted marketing contribute to the overall expansion of the market.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

Coconut water, derived from green coconuts, is a natural and refreshing beverage known for its simple sugars, natural electrolytes, and various essential minerals such as carbs, potassium, salt, manganese, calcium, and magnesium. The health benefits of coconut water have gained significant attention in recent years due to increasing health awareness and the demand for natural hydration options. Fitness enthusiasts and vegan consumers particularly appreciate its functional qualities, making it a popular choice for immunity-boosting beverages and natural alternatives to processed sports drinks. Export opportunities for coconut water continue to expand as countries recognize its potential as a healthy and profitable commodity. Packaging formats, including Tetra packs and cans, have also contributed to the growth of the market, making coconut water more accessible to consumers. Flavored coconut water, such as pineapple, adds an extra layer of appeal to this natural beverage. With its high potassium content and UHT processing capabilities, coconut water is poised to remain a significant player in the market for healthy beverages.

Key Market Driver

Nutritional benefits of coconut water is notably driving the market growth. Packaged coconut water is experiencing significant demand in Europe due to its health benefits, which include high potassium content and the presence of essential electrolytes. This trend is driven by consumers seeking healthier alternatives to carbonated drinks and sugary beverages like juices and nectars. Coconut water is a natural source of various nutrients, including vitamin C, magnesium, calcium, manganese, and sodium. UHT processing and aseptic carton packs have made coconut water more accessible and convenient for consumers.

Moreover, multinational companies have recognized the potential of this market and have started investing in its growth. Coconut water's health benefits make it an attractive option for individuals with active lifestyles, making it a promising beverage category in Europe. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

Growing trend for organic coconut water is the key trend in the market. The demand for coconut water has been growing due to its high potassium content and natural, healthy image. Consumers are increasingly seeking out this beverage as a refreshing and nutritious alternative to sugary drinks. UHT processing and aseptic carton packs have made coconut water more accessible and convenient for consumers, leading to its expansion beyond tropical markets. Multinational companies have taken notice of this trend, and have begun investing in the production and distribution of coconut water.

In Europe, countries like Germany and the UK have significant markets for organic food, with Germany accounting for approximately 20% of global retail sales and the UK market share reaching nearly 5% in 2019. The preference for organic food, driven by concerns over ingredient origin and quality, is a key factor in the growth of the market. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

Manufacturing challenges faced by players is the major challenge that affects the growth of the market. The market in the Asia Pacific region faces unique challenges in the production of packaged coconut water. One of the primary concerns is ensuring the shortest possible time from harvest to processing, as prolonged storage of fresh coconuts negatively impacts the turbidity of the water. This cloudiness can reduce the product's shelf life and market appeal. Manufacturers must adhere to proper practices during the extraction process, such as cooling raw materials to 39.2 degrees Fahrenheit to halt enzymatic reactions and microbial growth.

In addition, UHT processing and aseptic carton packs are common solutions to extend shelf life, but multinational companies face additional challenges in logistics and supply chain management to transport fresh coconuts to processing plants efficiently. These factors necessitate stringent quality control measures and continuous research and development to meet consumer demands for fresh and high-quality coconut water. Hence, the above factors will impede the growth of the market during the forecast period

Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Chi: The company offers milk, packaged coconut water without fruit sugar, and oil.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Cocofina Ltd.
• Cocos Pure Beverage Corp.
• First Grade International Ltd.
• FORCE BIO SAS
• Goya Foods Inc.
• GraceKennedy Ltd.
• Happy Coco BV
• Helios Ingredients Ltd.
• MightyBee Ltd.
• NATURE INNOVATION
• PepsiCo Inc.
• The Coca Cola Co.
• The Green Coconut Foods Co. Ltd.
• The Vita Coco Co. Inc.
• TIANA
• Tropical Sun Foods
• Universal Food Public Co. Ltd.
• Worlds Coconut Trading S.L.
• ZICO Rising Inc

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By Flavor 

The market share growth by the flavored coconut water segment will be significant during the forecast period. Demand for flavored coconut water is skyrocketing as many consumers in the region often seek a nutritious and refreshing drink compared to pure coconut water. Players involved in this space are therefore focusing on blending coconut water with various flavors such as mango, chocolate, and pomegranate to make the final product. Many parents prefer flavored coconut water for their children for its health benefits and availability of various flavors. 

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The flavored coconut water segment was valued at USD 252.60  million in 2018. This surge in demand is driven by consumers in the region seeking a refreshing and nutritious alternative to plain coconut water. Industry players are responding by infusing coconut water with a range of flavors, including mango, chocolate, and pomegranate. Flavored coconut water is a hit among parents, offering both health benefits and a variety of flavors for their children. Leading brands like Vita Coco cater to this market by offering a diverse range of flavored coconut water products.

Segment Overview

The market research report provides comprehensive data with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Flavor Outlook  
  • Flavored coconut water
  • Plain coconut water
• Product Outlook  
  • Sweetened coconut water
  • Unsweetened coconut water

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• Coconut Water Market in US by Product and Flavor - Forecast and Analysis

Market Analyst Overview  

Coconut water, derived from green coconuts, is a natural source of simple sugars, natural electrolytes, and essential minerals such as potassium, salt, manganese, calcium, and magnesium. These nutrients make coconut water an ideal beverage for hydration and health. Coconut water is rich in cytokines and phytohormones, which contribute to immunity and overall wellness. The market has gained significant traction in recent years due to its association with fitness and wellness. As obesity, cardiovascular illnesses, diabetes, and other lifestyle diseases become more prevalent, consumers are turning to natural juices like coconut water for their electrolyte and nutrient content. Sports beverages and energy drinks are major markets for coconut water, as they provide quick energy and hydration. However, coconut water is also finding its way into carbonated beverages, organic additives, and even quick-service restaurants.

Additionally, the natural substances found in coconut water, such as antioxidants, are beneficial for cardiovascular health, blood pressure, and kidney function.  Additionally, the vegan properties of coconut water make it a popular choice for those following plant-based diets. Fruits like ginger and turmeric are often added to coconut water for added health benefits. As the demand for natural and healthy beverages continues to grow, the market is expected to expand further. The average temperatures in tropical regions where coconuts are grown contribute to the liquid's production and availability year-round. With its numerous health benefits and versatility, coconut water is poised to remain a popular choice for those seeking natural sources of hydration and nutrients.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across Europe
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies