The global packaged coconut water is expected to grow at a fastest CAGR during the forecast period and expected to cross USD 2.5 billion market by 2029.
Due to Increased demand for the flavoured coconut water, More flavours are entering into the market. Developing health consciousness is boosting sales in developed regions such as Europe and USA. High trading activities of coconut water can be observed as trend since past 5 years. Health and Wellness is the biggest trend in the Food & Beverage Industry.
It is no secret that with the increasing fight against sugar and carbonated drinks, customers have now become increasingly health conscious. It is essential that coconut water and all coconut products, in general, contains organic, natural and low-calorie ingredients and has several added health benefits is the primary market driver. A significant factor that is likely to expand and drive the business scope of plant-based water industry is the mode of distribution. Online channels are playing a vital role in commercializing packed coconut water products which are adding fringe benefits for the hectic customer lifestyles and also the easy availability of the products. Today, The coconut boom is already in full swing, and consumers are willing to pay top dollar for purer, more natural drinks, which are better than traditional soft drinks.
Coconut water is usually packed in three significant modes; Metal Cans, Plastic bottles and Tetra pack with screw caps. Each packaging mode has its own set of advantage and is usually suitable for a particular variant or geography. The packaging of coconut water offers an advantageous opportunity to the vendors. The busy lifestyles and lifespan of the product have enhanced the product's growth. Tetra packs are highly dominating the market, as the offers provided by the vendors and distributors are enhancing the sales of the market in this category.
By Distribution Channels
The segmentation by distribution targets in both rural and urban areas, taking into account the benefits and usage rate, as required by target customers. The emergence of digitization has mobilized business rapidly and in today’s market grounds every product and service-based firm now has a significant share in online space. The companies have opportunities to promote a wide range of products on the online platform will be a crucial factor driving the plant-based coconut water market via online distribution channels. This will further encourage the development of expansion in the segment.
Customers have now become health conscious which is one of the significant factors driving coconut industry and to retain the customer loyalty; it is essential for these beverages to contain organic, natural and low-calorie ingredients. Commonly used flavors are Pineapple, Lemonade, Mango, and Cafe Latte.
Largest Market Share by region: North America – One of the significant growth drivers of the packaged coconut water in North America is due to rapidly shifting consumer preferences for healthy alternatives, federal educational programs, and informing the ill effects of sugar-loaded drink beverages among the Generation Y and Generation Z in the country have committed significant investments to boost the product availability and reach.
By Product type
By Packaging type
By Distribution Channel
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