Coconut Water Market Growth and Analysis by 2027

The coconut water market was valued at US$ 1,142.09 million in 2019 and is projected to reach US$ 3,246.64 million by 2027; it is expected to grow at a CAGR of 14.0% from 2020 to 2027.

Coconut water is utilized to nutritionally functionalize and enrich a broad range of food and beverage products, including nutrition bars, cereals, dairy products, baked goods, drinks, snacks, sauces, and soup recipes. It is low in calories, and free of fat and cholesterol. The global coconut water market in North America is expected to grow at the highest CAGR of 14.7% during 2020–2027.Consumption of coconut water is increasing owing to health benefits associated with it, which drives the growth of the market.

The COVID-19 pandemic was first reported in Wuhan (China) in December 2019.As of June 2020, the US, Russia, India, China, Italy, France, and Germany are among the worst-affected countries in terms of the positive cases and reported deaths. According to the WHO figures updated in June 2020, ~7,482,952 confirmed cases and ~419,497 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns. Food & beverages is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, technology events cancellations, and office shutdowns. Although China is the global manufacturing hub and the largest raw material supplier for various industries in the world, it is also one of the worst hit countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is adversely affecting the global supply chains, and manufacturing and sales of various food and beverages products. The overall market collapse due to this outbreak is also restraining the growth of the coconut water market due to shutdown of factories, obstacle in supply chains, and downturn in world economy.

Coconut Water Market: Strategic Insights

Market Insights

Health Benefits of Coconut Water Drives Market Growth

Coconut water is free from cholesterol and fat. It is considered as a natural sports drink due to its high electrolyte content, including potassium, calcium, sodium, and magnesium,  which helps regulate the fluid balance, prevent dehydration, and ensure proper muscle function. High potassium content also supports heart health and protects consumers against the risk of stroke by reducing blood pressure. Healthcare practitioners and dieticians recommend patients to consume coconut water instead of sugary drinks.

Product Type Insights

Based on product type, the coconut water market is further bifurcated into pure coconut water and mixed coconut water. The pure coconut water segment accounted for a larger share of the market in 2019. Pure coconut water, also known as organic coconut water, is healthier than mixed or conventional coconut water. In its natural form, it is known as a rich source of sodium, potassium, and magnesium, which optimize the rehydration process.

Packaging Insights

Based on packaging, the coconut water market is further segmented into bottles, pouches, and cans. The bottles segment accounted for the largest share of the market in 2019. With the alternatives ranging from 50 ml to 1 L, bottled packaging has been one of the most preferred options among both the consumers and the manufacturers. The small-sized bottles are easy to carry and capable of storing adequate volume of coconut water. Bottles are also easy to transport in bulk as they do not get damaged easily. Sealed bottle caps help extend the shelf life of coconut water for some time that boosts the demand for bottled coconut water globally.

Coconut Water Market Players Density: Understanding Its Impact on Business Dynamics

The Coconut Water Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Coconut Water Market, by Product Type

• Pure coconut water
• Mixed coconut water

Coconut Water Market, by Packaging

• Bottles
• Pouches
• Cans

Coconut Water Market, by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Online
• Others

Company Profiles

• Amy and Brian
• PepsiCo, Inc.
• The Coca-Cola Company
• C2O Pure Coconut Water
• Gracekennedy
• Green Coco Europe GmbH
• Harmless Harvest
• Mojo Organics Inc.
• Taste Nirvana
• Sambu Group