The packaged coconut water market is expected to grow from its current value of US$ 1 billion in 2023 to US$ 6.47 billion in 2033 at a CAGR of 20.5% through 2033.
Globally, consumers’ awareness of the advantages of consuming healthy beverages has led to a growth in the demand for coconut water. Coconut water is a rich source of antioxidants and minerals the body needs.
Due to increased investment opportunities and pro-government laws, the market for coconut production is expanding. The growing urbanisation, together with altered dietary habits, is another element that influences the demand for packaged coconut water.
Market Setbacks
The high cost of coconut water is a significant barrier to expanding the packaged water market in many countries, including the U.S. and Canada. The high production costs are hampering the market’s ability to expand. One of the factors that are challenging the market is the ambiguity around claims made by the major corporations that coconut water intake is natural.
Asia Pacific to Positively Impact Packaged Coconut Water Market
Due to the region’s expanding number of coconut plantations, tourism sector, rapid urbanisation, and rising disposable income, demand for bottled coconut water is expected to rise significantly in Asia Pacific, followed by North America and Europe.
Leading market competitors are focusing on delivering online services to packaged coconut water clients.
American countries are predicted to increase the production of coconuts across Brazil and adjacent countries, boosting the overall expansion of the packaged coconut water market across American countries. The demand for health drinks made with coconut water as a foundation, such as agua de coco, is also boosting the packaged coconut water market in the region.
Europe is predicted to see an increase in demand for health drinks and the presence of international corporations bringing fresh brands and products to the region. The launches are centred on the consumers’ diverse taste preferences, and they aim to naturally incorporate flavours into packaged coconut water. Such goods offer significant potential for the overall expansion of the packaged coconut water industry in European countries.
Key Takeaways
- American countries are expected to hold the highest market share concerning the packaged coconut water market, as the market value of the coconut water industry was holding over 25% in the year 2023.
- Europe is predicted to rise steadily at a CAGR of 17.6% over the forecast period.
Competitive Landscape
Among other domestic and international players, the packaged coconut water market report includes information on Taste Nirvana, Bai, GraceKennedy Group, green coco europe GmbH, COCOJAL, All Market Inc., Amy & Brian Naturals, The Coca-Cola Company, PepsiCo, Dabur, Harmless Harvest, Exotic Superfoods, C2O Pure Coconut Water, LLC, National Beverage Corp., Purity Organic, Phalada Pure & Sure, and others.
Recent Development
Product Launch
Vita COCO successfully replaced the area’s sugar-heavy energy drinks with a sparkling variation of coconut water. Later on, the business unveiled a number of flavour combinations, including pineapple and passion fruit, lemon and lime, and a few others. This product is suitable for use as a drink in cafes and bars.
Read More: https://www.futuremarketinsights.com/reports/packaged-coconut-water-market
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