Market Synopsis:
Coconut water has gained popularity as a beverage over the past few years. It is rich in vitamins and other nutrients. Increasing awareness about its nutrient profile is likely to boost its demand in the forthcoming years. Market Research Future (MRFR)’s recent analysis asserts that the global packaged coconut water market is expected to mark a moderate CAGR over the evaluation period 2022 to 2030.
The growth of the food beverage industry is poised to impact the expansion of the packaged coconut water market on a positive note over the next few years. Increasing demand for the product as a functional beverage, sports drink, etc. is anticipated to catapult the market on upward trajectory. In addition, the exponentially increasing population of health conscious people is also likely to support the growth pattern of the packaged coconut water market in the nearby future.
Market Segmentation:
On the basis of category, the global Packaged Coconut Water Market has been bifurcated into organic and conventional.
The global packaged coconut water market, on the basis of packaging type, has been segmented into cans, cartons, bottles, pouches, and others.
Based on distribution channel, the global packaged coconut water market has been segmented into Store-based and non-store based. The sub-segments of the store-based segment include convenience stores, hypermarkets and supermarkets, and others.
Regional Analysis:
The global packaged coconut water market, by region, has been segmented into four major regions - North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific has been observing excessive demand for beverages owing to increasing disposable income and rapid urbanization. This, in turn, is anticipated to increase the demand for packaged coconut water in the years to come. The regional segment is anticipated to hold the lion’s share of the global market over the next couple of years. In addition, the increasing health consciousness among the masses is poised to fuel demand for coconut water across the forecast period. Also, the easy availability of the product, in conjunction with the presence of a widely prevalent distribution channel, is prognosticated to favor the growth curve of the packaged coconut water market in the forthcoming years. Other factors that are anticipated to propel the growth pace of the market are increasing working population, rising middle-income population, investments in R D, etc. The region is also leading in the production of coconuts, which is expected to catalyze market expansion in the foreseeable future. India, Indonesia, and Philippines are projected to lead the production of coconuts in the region over the next few years.
Europe is the fastest growing regional segment of the global packaged coconut water market. The major factor poised to boost market growth is the increasing demand for healthy beverages. People are getting increasingly aware of the nutrient profile of coconut water, which is poised to favor growth pace of the market in the forthcoming years. An increase in consumption levels is projected during the review period. Thus, the packaged coconut water market is likely to remain highly lucrative in the years to come. Country-level markets such as Germany and Franc have been witnessing a drastic increase in demand for coconut water as a flavor enhancer, natural sports drink, and functional beverage. This, in turn, is poised to boost the growth of the packaged coconut water market over the projection period.
Competitive Dashboard:
Key packaged coconut water market players 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 (Philippines), Harmless Harvest (US), Taste Nirvana (US), Bai Brands (US), and Exotic Superfoods (US).
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