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, increased public awareness of the health advantages of consuming healthful beverages has resulted in an increase in demand for coconut water. Coconut water contains a lot of antioxidants and minerals that the body needs.
According to FMI, there is a considerable demand for organic food among the urban population due to the benefits it provides. Higher levels of food safety and longer shelf life of food in fresh food packaging solutions are some of the main factors driving market growth in 2023.
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Market Setbacks
The high cost of coconut water is a major hindrance to the growth of the packaged water business in various countries, notably the United States and Canada. The high production costs limit the market’s growth potential. The ambiguity surrounding large companies’ claims that drinking coconut water is natural is one of the factors creating a challenge to the business.
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.
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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.
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Key Segments
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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