As of 2022, the size of the global coconut water market was US$ 6.4 billion. IMARC Group projects that the market will grow at a rate of 16.5% CAGR from 2023 to 2028, reaching US$ 16.5 billion by that time.
Detailed study of coconut water market analysis indicates the rise in market due to various factors. Growing awareness about the health and nutrition, increase in global average temperature due to the climate change are helping the market grow. Furthermore, pro-government policies and growing investment in the coconut farming sector are reasons for growth.
Coconut water is popular in the tropical regions, however it is increasingly garnering attention across the map. It is refreshing and keeps you hydrated and contains low calorie as compared to competitive drinks popular in the market.
Another vital contributing factor for growth is the demand for coconut water mix and concentrates, increased presence of various FMCG companies in the market, and transparent trade practices in food industry are helping Coconut water industry. At the same time growing frequency of diseases and reduced productivity is one of the major factors that can impact the global coconut water market size negatively.
Coconut water has milk nutrition, vitamins, antioxidants, enzymes, minerals, amino acids and growth hormones in abundance. As coconut grows near the sea they have access to rich in mineral salt water, which is soaked up by their roots. This makes the coconut water a rich source of major minerals.
Coconut water market analysis is done on the basis of packaging material as plastic and paper board. The emerging trend in the Coconut water industry are vending machines and e-commerce platforms. In the near future coconut water would be easy to buy from supermarkets.
Packaged coconut water is garnering attention recently. It is easily available in the form of easy-to-carry and drink, tetra packs over the counter. Coconut water is widely used owing to its various skin and hair benefits. Furthermore, also it is widely used in gyms and health centers. Plastic, paper and paper board packaged water are predicted to beat the metal packaging in the coming years. Sweetened coconut water contributes largest share (almost half) in the Global Coconut water market size. Other variant of coconut water is unsweetened or negligibly sweetened coconut water.
The coconut water market size is generally segmented based on the Type and regional market. Based on the type it is divided as coconut water, Natural fruit sugar and others. On the basis of geography it is segmented as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia and Pacific is positioned to grow owing to the growing awareness of its salient features among the people. India, China and Indonesia are some countries which have high production of coconut water.
Some of the key players having the major share in coconut water market size are VITA COCO, Pepsico (ONE,Amacoco), Taste Nirvana, Naked Juice, Coca-Cola(Zico), C2O Pure Coconut Water, Coconut Palm Group and many others
Coconut Water Market Scope
|Revenue forecast in 2028
|US$ 16.5 billion
|CAGR of 16.5 % during 2018-2028
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|VITA COCO, Pepsico (ONE,Amacoco), Taste Nirvana, Naked Juice, Coca-Cola(Zico), C2O Pure Coconut Water, Coconut Palm Group and many others.
The various segments of coconut water industry are,
- Coconut Water
- Natural Fruit Sugar
- North America
- Asia Pacific
- Latin America
- Middle East and Africa.