Global Coconut Water Market: Industry Perspective, COVID-19 Impact Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2030
Theglobal coconut water market size was USD 5.2 Million in 2020. The market isprojected to grow from USD 5.8 Million in 2021 to USD 21.58 Million in 2030 ata CAGR of 16% in the 2021-2030 period. This information is published by““Decision Foresight”“, in its report, titled, “Coconut Water Market,2021-2030.” As per our researchers, People all over the globe have beenprogressively embracing a variety of nutritious and nutritional beverages inorder to maintain a healthy lifestyle in recent years. Excessive use of sugaryand carbonated beverages causes a variety of health problems, includingobesity, cardiovascular disease, and diabetes, in people of all ages, fromchildren to the working class. As a result, coconut water may be used as asubstitute for carbonated beverages since it is good for all of theaforementioned diseases, particularly weight loss. This is expected to amplifythe demand and promote the coconut water market growth during the forecastperiod.
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COVID-19 Impact:
Rising Commercial Business Sales around the Globe amidCovid-19 Pandemic
Coconut wateris commonly marketed as a hangover cure and a post-workout recovery drink, butit's now being phased out due to coronavirus fears. Vita Coco, whichmanufactures shelf-stable coconut waters and canned conventional waters, hasseen a dramatic increase in sales, beginning two weeks ago on the West Coast.It has been growing nationally in recent days thanks to e-commerce platforms.
For instance,in the first quarter of 2021, the sales of Vita Coco coconut water onwalmart.com increased by 200 percent year over year, and sales on Amazonincreased by 60 percent. Even though the US Centres for Disease Control hassaid that the virus has not been identified in drinking water, bottled, andcanned water are among the items in high demand in the US as doubt grows aroundthe coronavirus epidemic.
Report Coverage :
The marketreport provides exhaustive analysis of the regional insights and how thesefactors form the market in the respective regions. The impact of COVID-19pandemic is added for further understanding of the possible threats in themarket. The efficient strategies of the top players and how they drive the marketgrowth are discussed in the following report.
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Segmentation :
On the basis of type, themarket can be distributed into regular and organic. Based on form, the marketis divided into liquid coconut water, and powder form coconut water. Based onflavour themarket is categorised into pineapple, natural, grape, aloe vera, coffee, andmango. Based on packaging the market is distributed into cans, tetra packs andplastic bottles. Based on by the distribution channel the market categorisedinto super markets, online stores, speciality stores, and street vendors. Basedon geography the market is divided into regions comprising North America,Europe, Asia-Pacific, and RoW.
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Drivers and Restraints :
Growing Awareness of Health Issues among the GeneralPublic to Drive Market Growth
One of themain reasons driving the market's growth is the growing awareness of healthissues among the general public. With the increased incidence of lifestyleillnesses, consumers are increasingly turning to coconut water as a treatmentfor a variety of metabolic disorders and other maladies, including diabetes,obesity, kidney stones, liver damage, hypertension, and indigestion. Vendorsare also selling bottled coconut water that has been infused with naturalcomponents like turmeric, ginger, and fruits to boost its nutritious worth.These goods are getting a lot of popularity among athletes and fitnessenthusiasts, which are helping the market.
In addition,the expanding food and beverage industry is helping to drive market expansion.The use of coconut water mix and concentrates in many creative meals hasincreased as a result of the rising café culture and the expanding number ofquick-service restaurants (QSRs). Other factors, such as government programmesto promote coconut farming and major expenditures in coconut crop growth,particularly in countries like the Philippines, are expected to boost theindustry in the future years.
Regional Insights
Asia-Pacificregion has the highest market share in 2020, with the largest share in mostpopulous countries such as India and China. Many Asian nations employ coconutwater products in their food and beverage industries. As people become moreaware of coconut water as a sports or refreshment drink, the market for purecoconut water is expanding rapidly throughout the region. In Asia-Pacific,India is the largest consumer of coconut goods, followed by Indonesia and thePhilippines.
Thesecountries likewise primarily export to developed markets including the UnitedStates, Germany, France, and the Netherlands. The fastest-growing regionalmarket for packaged coconut water has been identified as South Africa. Thecountry is rapidly developing, and customers perceive packaged items to be moresanitary and healthier. Organic coconut water is consumed in the United Kingdomin the amount of 25-26 million litres. Coconut water consumption is alsoextremely high in tropical nations where coconuts grow abundantly, such as SriLanka, India, Thailand, and Brazil.
Competitive Landscape
Someof the major key players in the coconut water market are Harmless Harvest,Celebes Coconut Corporation, VITA COCO, COCOZIA, Coco Libre, The Coca-ColaCompany (ZICO), and COPRA Inc.
Industry Development
August 2020:Elegance Brands, Inc. announced a strategic collaboration with KC Distributingin August 2020. For the next twelve months, KC Distributing will solelydistribute Elegance's goods, including coconut water, as part of thisarrangement. KC Distributing will repaint its delivery vehicles with GorillaHemp to assist improve brand awareness.
List of Key Players Covered in thisMarket Report
● COPRA Inc.
● The Coca-Cola Company (ZICO)
● Coco Libre
● COCOZIA
● VITA COCO
● Celebes Coconut Corporation
● Harmless Harvest
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How will this Market Intelligence ReportBenefit You?
- The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
- Exclusive insight into the key trends affecting the Global Coconut Water industry, although key threats, opportunities and disruptive technologies that could shape the Global Coconut Water Market supply and demand.
- The report tracks the leading market players that will shape and impact the Global Coconut Water Market most.
- The data analysis present in the Global Coconut Water Market report is based on the combination of both primary and secondary resources.
- The report helps you to understand the real effects of key market drivers or retainers on Global Coconut Water Market business.
The 2021 Annual Global Coconut WaterMarket offers:
• 100+ charts exploring and analysing the Global Coconut Water Market from critical angles including retail forecasts,consumer demand, production and more
• 15+ profiles of top producing states, withhighlights of market conditions and retail trends
• Regulatory outlook, best practices, and future considerationsfor manufacturers and industry players seeking to meet consumer demand
• Benchmark wholesale prices, market position, plusprices for raw materials involved in Global Coconut Water Markettype
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