Europe is projected to grow at a moderate CAGR of 17.6% throughout the forecast period (2023-2033), as per Future Market Insights (FMI). Revenue generated by the Europe packaged coconut water market is poised to reach a total of US$ 6.47 Bn by 2033.
As European consumers are looking to reduce their environmental footprint and make healthy lifestyle choices, vegan beverages have become increasingly popular. Not only do vegan beverages have a low carbon footprint than regular drinks, they also provide a wide variety of health benefits that appeal to many consumers. As such, demand for vegan drinks such as coconut water, has grown significantly in recent years. This trend is projected to further increase the demand for packaged coconut water in Europe.
Rise of veganism is projected to result in a surging demand for packaged coconut water in the next ten years. Coconut water is a highly popular vegan beverage due to its high electrolyte content and refreshing taste.
Its popularity has been further bolstered by the increasing number of celebrities who are promoting the benefits of drinking coconut water. This increased interest has caused many brands to come up with innovative packaging and flavors that appeal to different consumer tastes across Europe.
Coconut water is one of the most popular vegan drinks on the market today, and it is likely that its popularity will continue to grow in the forecast period. Increasing demand for vegan beverages is set to benefit the U.K. packaged coconut water market, as it provides an easy and healthy way to stay hydrated while helping to reduce the environmental impact. Coconut water has a natural sweetness that appeals to consumers and makes it a great choice for sweetening other drinks.
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Additionally, coconut water is naturally low in calories, which makes it appealing to those looking to lose weight or maintain their weight. Furthermore, some studies have suggested that drinking coconut water can help improve blood pressure levels, reduce cholesterol levels, and enhance overall heart health.
As per the British Heart Foundation, as of August 2022, approximately 7.6 million people are living with a circulatory or heart disease across the U.K. The organization further estimates that in the country, circulatory and heart disease lead to nearly a quarter of all deaths. Thus, growing prevalence of heart disease in the U.K. is projected to compel consumers to move towards healthy food and beverages, including packaged coconut water.
Finally, there is growing evidence to suggest that coconut water can help improve digestive health and keep one’s skin hydrated. All of these factors point towards a continued rise in terms of demand for packaged coconut water in Europe.
Key Takeaways from the Packaged Coconut Water Market
- Germany is predicted to account for around 12% of market share in the global packaged coconut water market.
- Sales in the global packaged coconut water market are expected to increase at a valuation of US$ 1 Bn in 2023.
- Sales of packaged coconut water in the U.K. are projected to expand at 8% CAGR over the upcoming decade.
- Rising demand for vegan beverages is likely to boost sales of packaged coconut water in Europe.
“Growing popularity of vegan drinks and beverages among Europeans will provide an opportunity for the growth of packaged coconut water. Hence, key companies are manufacturing vegan products to satisfy the surging demand.”– Says an FMI Analyst.
Competition Landscape in the Europe Packaged Coconut Water Market
In order to take leading position in the Europe packaged coconut water market, key companies are expanding their product lines by introducing unique vegan products. These companies are also acquiring other local players to increase their market presence.
Water Works, Vita Coco, and Lamipak are some of the leading companies in the Europe packaged coconut water market.
Recent Developments:
- In June 2022, with the introduction of its most flavorful coconut water ever, leading coconut water company Vita Coco is aiming to take taste buds to the tropics. The first juice product from the company is Vita Coco Coconut Juice.
- In February 2019, AloeCoco, a 330 ml bottle of aloe vera coconut water, was introduced by Water Works. The U.K.-based company’s newest product line would help it to expand its watermelon and cactus water varieties, both of which came in sugar cane-based tetra pak carton packaging.
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Key Segments of packaged Coconut Water Market
By Type:
- Pure coconut water
- Mix coconut water
- Pineapple
- Mango
- Watermelon
- Others
By Nature:
- Organic
- Conventional
By Packaging:
- Plastic bottles
- Tetra packs
- Cans
By Region:
- North America
- Asia Pacific
- Europe
- Middle East Asia
- Others
Frequently Asked Questions
- How is the Packaged Coconut Water Market Growing?
- Which Region Holds the Highest Revenue Potential in the Packaged Coconut Water Market?
- What is the Current Packaged Coconut Water Market Size?
- What is the Future Scope of Growth for the Packaged Coconut Water Market?
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About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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