According to the latest report by IMARC Group, titled "Coconut Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global coconut water market size reached US$ 4.57 Billion in 2020. Coconut water refers to the clear liquid that is obtained by tapping the center cavity of green coconuts. Characterized by a nutty and sweet flavor, it is rich in potassium, sodium, manganese, calcium and magnesium and contains low concentrations of fat, calories and carbohydrates. In addition to this, it consists of high concentrations of natural electrolytes that aids in preventing dehydration and replenishing the body after strenuous activities and workouts. Also known to possess antiaging, anticarcinogenic and antithrombic properties, it is widely consumed as a refreshing beverage or natural energy drink. Fresh, canned and bottled coconut water can also be used in the preparation of various dishes across the food and beverages sector.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Coconut Water Market Trends:
The global market is primarily driven by the rising health consciousness among the masses. With the increasing prevalence of chronic lifestyle disorders across the globe, individuals are now incorporating healthy foods and beverages in their daily diets to curb various medical ailments and metabolic disorders. They are increasingly replacing calorie-rich drinks with healthy beverages, including, refreshing coconut water, that is high in nutritional content, thereby providing an impetus to the market growth. Apart from this, the rapid expansion of café culture on the global level and the rising number of restaurants have impelled the utilization of coconut water for the preparation of various mixes and concentrate that can further be used to make multiple food dishes, cocktails and mocktails. The market is also driven by the launch of various fortified product variants with infused natural ingredients, such as ginger and turmeric. This enhances the overall taste as well as the nutritional value of the beverage, which, in turn, is gaining widespread prominence among fitness enthusiasts. Moreover, easy product availability through organized online and offline retail channels is another major growth-inducing factor. This, in confluence with the inflating disposable income levels of the masses and the shifting dietary preferences of individuals, is facilitating the uptake of coconut water across the globe. Some of the other factors contributing to the market growth include favorable initiatives undertaken by the governments of several countries to promote coconut farming and the rising availability of organic product variants in the market. On account of the aforementioned factors, the market is expected to reach a value of US$ 12.13 Billion by 2026, exhibiting a CAGR of 17.12% during 2021-2026.
- On the basis of the type, the market has been bifurcated into sweetened and unsweetened variants.
- Based on the flavor, the market has been divided into plain and flavored.
- On the basis of the form, the market has been classified into coconut water and coconut water powder.
- Based on the packaging, the market has been segmented into carton, bottles and others.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience stores, online retail stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include All Market Inc., Amy & Brian Naturals, C2O Pure Coconut Water LLC, Celebes Coconut Corporation, Edward & Sons Trading Co Inc, Harmless Harvest Inc., PepsiCo Inc., Pulse Beverage Corp, The Coca-Cola Company, etc.
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