Coconut Water Market Size ($3,246.64Mn by 2027) Lead by Food and Beverages Industry (14% CAGR) Impact of Coronavirus Outbreak and Global Analysis & Forecast by TheInsightPartners.com

New York, Oct. 19, 2021 (GLOBE NEWSWIRE) — The new research study on the Coconut Water Market Size and Forecast to 2027 Global Analysis by Product (Pure Coconut Water and Mixed Coconut Water), Packaging (Bottles, Pouches, and Cans), Distribution Channel (Supermarkets and Hypermarkets, Convenience Store, Online, and Others) with Impact Assessment of COVID-19 Pandemic and Global Analysis available at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00006888

Coconut Water Market: Competition Landscape and Key Developments
Amy & Brian Naturals; C2O Pure Coconut Water, LLC; The Coca Cola Company (ZICO); Edward & Sons Trading Co.; Grace Kennedy Belize.; Green Coco Europe GmbH.; Harmless Harvest; MOJO ORGANICS INC.; PepsiCo, Inc.; and Taste Nirvana are among the major key players operating in the global coconut water market. These players focus on strategies such as partnerships, mergers and acquisitions, and facility expansion to increase their geographical presence and consumer base globally.

In 2019, Asia Pacific contributed to the largest share in the global coconut water market. The growth of the coconut water market in this region is primarily attributed to the considerable production of coconuts, coupled with substantial consumption of coconut water by the populace. Coconut water is an extremely popular drink in Asia Pacific. It is consumed directly from the fruit and is also marketed from many countries across Asia.

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The growing demand for nutritious and health benefitting products enhances the application of coconut water in the food & beverages industry. Coconut water is utilized to nutritionally enrich a broad range of food and beverage products, including nutrition bars, cereals, dairy products, baked goods, drinks, snacks, sauces, soups. In 2016, Be Natural, an Australian cereal and snack foods company, launched a granola product blended with coconut water instead of milk. This was promoted by the natural food movement in response to an increased demand for milk alternatives for breakfast. Likewise, coconut water is added to juice and other beverage products to reduce the content of artificial sweeteners. For instance, Genius Juice, located in the US, uses coconut meat and coconut water in their smoothies. The product is more filling and thicker, containing sufficient quantities of electrolytes and potassium—4.3 g of medium-chain triglycerides (MCTs) per bottle. The smoothies are sold in more than 1,100 stores across the US. Consumers are highly attracted to the product. Following this success, more companies are likely to use coconut water for smoothie preparation. Further, coconut water concentrate finds applications in nutritional bars. The properties of coconut water concentrate, including viscosity, BRIX, and ability to bind, are similar to binders used in granola bars. It can reduce the amount of sugar added to traditional nutrition bars and functions well in combination with other binders such as honey, tapioca, and agave. It efficiently binds the particulates commonly found in granola bars and provides a unique sweet and salty flavor profile.

Moreover, changing consumer preferences and tastes with changes in processing technology, rising disposable income of the populace, and increasing competition stimulate the food and beverage manufacturers to innovate in the offerings. Nowadays, consumers demand healthy food products. Restaurants and beverage manufacturers spend significantly to create new food products that meet consumer demands. For instance, in 2017, Coca-Cola launched packaged coconut water in India due to the growing consumer preference toward non-sugary drinks. In addition, consumers prefer purchasing food and beverage products that offer both convenience and health benefits. Coconut water is one of the best convenient alternatives for other energy drinks, thereby escalating its demand globally. Growing demand for healthy and convenient food, growing urbanization, and changing lifestyles are major factors fueling market growth. The demand for coconut water is increasing due to busy and fast life, hectic schedules, and increasing awareness about fruits’ health benefits. Various technological advancements are going on in the food processing industry, which assists in improving the growth of the coconut water market.

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Coconut Water Market: Segment Overview
By product, the coconut water market is segmented into pure coconut water and mixed coconut water. The pure coconut water segment held the largest share in the global coconut water market in 2019. Pure coconut water is highly consumed by the populace across the globe and is extensively used in beverages such as juice and cocktails. The increasing health consciousness among consumers, coupled with the convenience in using the product, is encouraging beverage manufacturers to use pure coconut water, subsequently aiding in the segment growth.

On the basis of packaging, the coconut water market is categorized into bottles, pouches, and cans. In 2019, the bottles segment dominated the market by accounting for 44.6% of the total market share. Bottle packaging in highly preferred by the consumers as they are easier to clean and also provide a high-quality aesthetic look to the overall product. Thus, their adoption is rising in the coconut water market.

Based on distribution channel, the coconut waters market is segmented into hypermarket/supermarket, convenience store, online, and others. The online segment is expected to grow at the fastest CAGR during the forecast period. The online portals such as Amazon, Walmart, Alibaba, Natures Basket, and Flipkart have been beneficial in the growth and expansion of the coconut water market. The rising use of smartphones, computers, and laptops has been one of the factors favoring the growth of market through digital channels. Increased internet and smartphone penetration have enabled consumer to explore various e-commerce portals and shop daily needs online.

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Impact of COVID-19 Pandemic on Coconut Water Market:
The ongoing COVID-19 outbreak pandemic has drastically altered the status of the food & beverages sector and negatively impacted the growth of the coconut water market. The implementation of measures to combat the spread of the virus has aggravated the situation and affected the growth of several industrial sectors. The market has been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international borders. Disruptions in terms of sourcing of raw materials from suppliers and temporary closures of manufacturing bases due to indefinite lockdowns and temporary quarantines have impacted the growth of the market during the pandemic. However, as much as the pandemic has affected the supply chain operations, the pandemic has generated the need for healthy living among the consumers, due to which, consumers have shifted their attention toward nutritional food products. Thus, the growing trend of consumption of functional and immunity-booster products, the demand for coconut water is expected to flourish in post-pandemic times. Furthermore, the expanding demand for coconut water across the food & beverages industry for production of nutrition bars, cereals, dairy products, baked goods, drinks, snacks, etc., along with significant investment by prominent manufacturers, is expected to drive the coconut water market.

Key Questions to Request for Coconut Water Market:

• Can you list some of the major players operating in the global coconut water market?
• Which region held the largest share of the global coconut water market?
• Based on product type, why is the pure coconut water segment expected to grow at the highest rate during 2020–2027?

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