Coconut Water Market to Grow at CAGR of 14.83% through 2032: The Brainy Insights

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The coconut water market is anticipated to expand quickly during the forecast period due to the expanding popularity of natural and plant-based beverages, the rising number of fitness and health clubs, and increased government measures to support coconut farming. South America emerged as the highest in the global coconut water market, with a share of 26.94% in 2022.

Newark, April 03, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 5.73 billion in 2022 coconut water market will reach USD 22.84 billion by 2032. People worldwide have been consuming more nutritious drinks in recent years to maintain a healthy lifestyle. In all age groups, from young children to workers, excessive sugary and carbonated beverages contribute to several health problems, including obesity, cardiovascular illnesses, and diabetes. Because it is regarded to be helpful for all of the conditions mentioned, particularly for weight control, coconut water is a substitute for carbonated beverages.

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Key Insight of the Coconut Water Market

Asia-Pacific is anticipated to expand at the highest CAGR of 17.36% over the projection period.

Asia-Pacific is expected to grow at the highest CAGR of 17.36% over the forecast period. China, India, Indonesia, and Australia will likely lead the Asia-Pacific region in coconut water consumption growth. As one of the healthiest drinks, coconut water is highly prized in Thailand. It comes from green coconuts and contains an isotonic, sweet-tasting liquid that is transparent in colour. The millennial residents of the region can therefore choose it as the ideal refresher to restore the body’s nutritional balance after sports. Because Asia-Pacific is one of the region’s top manufacturers of coconut water, the standard of products shipped from the nation heavily depends on the processing techniques big businesses use. For instance, the food and beverage company Tipco in South East Asia sells coconut water that has been UHT processed before being filled into aseptic carton packs to ensure the delicate handling and packing of the nutrient-rich coconut water. Throughout the projection period, more international corporations are expected to establish manufacturing facilities in the area, which is expected to boost market growth.

In the coconut water market, the powder segment is expected to register the highest CAGR of 16.25% over the projected period.

The powder segment is anticipated to grow at the highest CAGR of 16.25% in the coconut water market over the forecasted period. Coconut water is evaporated and then frozen to produce the final product. It provides convenience for persons living outside of tropical places and is an excellent substitute for fresh coconut water. It can be rehydrated by adding simple water or another flavoured liquid to the powder and is typically used while creating unique dishes.

In the coconut water market, the tetra pack segment is expected to register the highest CAGR of 18.57% over the projected period.

The tetra pack segment is anticipated to grow at the highest CAGR of 18.57% in the coconut water market over the forecasted period. The packaging’s capacity to be recycled is one of the factors accelerating demand. Also, the producers are employing 100% FSC wood to make it sustainable. It has a tremendous environmental impact and is incredibly simple to open and handle because of its paper-based package.

In the coconut water market, the online segment is expected to register the highest CAGR of 16.49% over the projected period.

The online segment is anticipated to grow at the highest CAGR of 16.49% in the coconut water market over the forecasted period. For the Y, Z, and Alpha generations, purchasing online has become the new favoured method. Due to the constant accessibility, people like it. One of the most profitable features of the channel is the convenience it provides its customers when they relax at home and buy.

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Market Dynamics

Driver: Rising consumer awareness regarding health and nutrition

One of the key elements driving the market’s growth is consumers’ growing interest in their health and well-being. Western countries like the US and Germany are experiencing an increase in the consumption of healthy drinks like coconut water due to consumers’ growing interest in wellness and health-related items. Also, the market is expanding as consumers become more aware of the numerous health benefits of coconut water, including improved digestion, lowered blood pressure, and continued hydration. Further significant factors influencing the market’s growth include the increasing prevalence of lifestyle diseases, rising demand for energy and hydration drinks, an increase in the population of seniors, rapid urbanisation, and rising average temperatures.

Opportunity: Increasing popularity of natural and plant-based drinks

Because of the rising demand for natural and plant-based beverages, the rise in fitness and health clubs, and more significant government efforts to encourage coconut cultivation, the market is predicted to grow rapidly during the forecast period. Due to consumers’ increased health awareness and desire for healthier products, plant-based diets are becoming increasingly popular globally. Some of the most popular dairy alternatives include beverages made from nuts, coconut, and cereal. Coconut water boosts the finished product’s nutritional value and reduces sugar consumption. It is used as an ingredient in plant-based beverages because of this. The market growth for plant-based beverages is promoting the use of coconut water.

Challenge: Preservation issues and weak supply chain

The challenges to the market’s growth include the preservation of tender coconut water, the growing distance between the two ends of the supply chain, and the misleading marketing strategies some coconut water manufacturers use. Coconut water is a delicious natural beverage abundant in vitamins, minerals, and beneficial phytohormones but low in calories and fat. The nutritional and therapeutic advantages of tender coconut water have led to a global increase in demand and use. Processing and storage are currently essential to supply the year-round needs for coconut water. The most significant barrier in maintaining delicate coconut water is the risk of processing that may remove the water’s therapeutic and nutritional properties.

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Some of the major players operating in the coconut water market are:

• Celebes Coconut Corporation
• Naked Juice Company
• Vaivai SAS
• C2O Pure Coconut Water, LLC
• The Coca-Cola Company (ZICO)
• COCOZIA
• All Market Inc.
• Elegance Brands, Inc.
• Harmless Harvest
• New Age Beverages Corporation
• PepsiCo (O.N.E. Coconut Water)

Key Segments cover in the market:

By Form:

• Liquid
• Powder

By Packaging:

• Plastic Bottle
• Tetra Pack
• Others

By Distribution Channel:

• Offline
• Online

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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About The Brainy Insights:

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