Coconut water is usually derived from fresh, young, green coconuts which are ideally between the ages of 6-9 months. Coconut water has created a significant demand among consumers owing to its concentrations of natural electrolytes, vitamins, and minerals. Furthermore, low calorie in coconut water makes it a great substitute for higher calorie drinks like sodas or juice. The demand for packaged coconut water is growing as it helps in increasing the self-life. Also, packaging helps in maintaining the nutritional values of coconut water. Growing importance of coconut water as a natural performance drink in sports owing to its natural electrolyte level is expected to boost the global packaged coconut water during the forecast period.
The global market for packaged coconut water has also been classified, by distribution channel, into store-based and non-store based. The store based segment has been further segregated into hypermarkets and supermarkets, convenience stores, specialty stores, and others. The store-based segment is expected to generate higher revenue, with the hypermarkets and supermarkets sub-segment being the largest due to strong vendor networks, high product appeal due to lucrative packaging and easy availability. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online purchase.
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Market Scenario and Key Factors:
Based on category, the global packaged coconut water market has been segmented into organic and conventional. The conventional segment is expected to dominate the global packaged coconut water market during the forecast period. Coconuts are widely grown in the conventional form due to ease in bulk production and offer the high profit margin. Moreover, easy availability of conventionally grown coconuts and cheaper prices are aiding to the global demand for conventional coconut water. The organic segment is expected to grow at the fastest rate during the assessment period since demand for coconuts grown in organic environment without the use of harmful chemicals is growing among the health-conscious consumers as a safe alternative.
The global packaged coconut water market has been divided, by packaging type, into bottles, cartons, pouches, and cans. The bottles segment is expected to dominate the global packaged coconut water market during the assessment period due to the ease of consumption, cost-friendly packaging material and a conventional form of packaging. However, cartons offer highest shelf life due to the protective lining in the inner walls of the cartons. This factor is aiding to the growth of cartons segment and is projected to record the highest CAGR during the forecast period.
Some of the key players in the global packaged coconut water market are Jain Agro Food Products Private Limited (India), Dabur India Ltd (India), Pure Tropic (India), the Coca-Cola Company (US), PepsiCo, Inc. (US), Blue Monkey (Phillipines), Harmless Harvest (US), Taste Nirvana (US), Bai Brands (US), and Exotic Superfoods (US).
The Global Packaged Coconut Water Market Has Been Segmented based on category, packaging type, distribution channel, and region.
By category, the global packaged coconut water market has been segregated into organic and conventional.
The global packaged coconut water market has been classified as packaging type, into bottles, cartons, pouches, cans, and others
On the basis of distribution channel, the global packaged coconut water market has been divided into store based and non-store based. The store-based segment has been further segregated into hypermarkets and supermarkets, convenience stores, and others.
The global packaged coconut water market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.
The packaged coconut water market in Asia-pacific is expected to dominate during the forecast period due to high production of coconuts in countries such as Thailand, Philippines, Indonesia, and Sri Lanka among other countries of the region. Introduction of new flavors, innovative packaging, clean labels to gain the confidence of health conscious consumers are further boosting the demand for packaged coconut water during the forecast period.
Europe is expected to be the fastest growing region in the packaged coconut water market during the forecast period. Growing popularity of organic, natural, and healthy drinks are expected to be a potential market for packaged coconut water market in the region during the forecast period. Furthermore, several stringent regulations by European Union (EU) over the distribution of packaged coconut water are imbibing a sense of confidence among the minds of health conscious consumers, thereby fueling the sales of packaged coconut water in Europe.
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