In Europe, the packaged coconut water market is experiencing steady growth, fueled by the rising popularity of health and wellness trends. Consumers are gravitating towards natural and plant-based beverages, driving the demand for coconut water as a refreshing and hydrating option. The convenience of packaged formats makes it an attractive choice for busy lifestyles. Moreover, the market is witnessing innovations in packaging designs and flavor profiles to cater to diverse consumer preferences. With increasing investments in marketing and distribution channels, coupled with growing awareness of the health benefits of coconut water, the Europe packaged coconut water market is poised for further expansion.
Packaged Coconut Water Market Size was valued at USD 2.5 billion in 2022. The Packaged Coconut Water market industry is projected to grow from USD2.69825 billion in 2023 to USD 4.968434 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.93% during the forecast period (2023 - 2032).
The global packaged coconut water market is likely to grow at a healthy CAGR between 2018- 2023, reveals the new Market Research Future (MRFR) report. Coconut water is a healthy, natural beverage, which is delicious and nutritious. It has a nutty as well as sweet taste and is naturally refreshing. Some of its health benefits include, it helps to maintain heart health, lower blood pressure, prevent kidney stones, fight diabetes, rich in antioxidants and nutrients, and replenish electrolytes lost at the time of exercise or workout. The packaged coconut water market overview is experiencing steady growth driven by consumer demand for natural and healthy hydration options.
Various factors are adding to the packaged coconut water market share. Such factors, as revealed by the latest MRFR report, include the availability of various innovative flavors such as litchi, mango, lime, and others, increasing preference of consumers towards healthy & natural drinks over carbonated drinks having high calorie, the rising awareness about the health benefits of consuming coconut water, and growing organized e-commerce and retail industry. Additional factors boosting the market growth include increasing young working-class population, rising personal disposable income, increasing consumption by athletes, and favorable government programs to boost coconut farming.
On the contrary, product recalls due to some form of contamination for longer time storage may hamper the packaged coconut water market growth over the forecast period.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global packaged coconut water market based on category, packaging type, and distribution channel.
By category, the packaged coconut water market has been segmented into conventional and organic. Of these, the conventional segment will lead the market over the forecast period as coconuts are largely grown in the conventional form for high-profit margin and ease in bulk production. Besides, lower prices and easy availability of coconuts that are conventionally grown are also adding market growth. Meanwhile, the organic segment is predicted to grow at a fast pace over the forecast period for the burgeoning demand for organically grown coconuts sans the use of harmful chemicals as an alternative among health-conscious consumers.
By packaging type, the packaged coconut water market is segmented into cans, pouches, cartons, and bottles. Among these, bottles will dominate the market over the forecast period for its conventional packaging, cost-friendly package material, and ease of consumption. Cartons, however, offer the highest shelf life as it has protective lining in its inner walls, which is likely to boost its growth and grow at a high CAGR.
By distribution channel, the packaged coconut water market is segmented into non-store based and store-based. The store-based segment is again segmented into specialty stores, convenience stores, hypermarkets & supermarkets, and others. Of these, the store-based segment will have a major share in the market over the forecast period with hypermarkets and supermarkets having the maximum share for high product appeal owing to easy availability & lucrative packaging, and strong vendor networks. Meanwhile, the non-store-based segment is likely to grow at a high CAGR for increasing preference of consumers for online purchase and technological advances in the e-commerce industry.
Regional Analysis
Based on region, the global packaged coconut water market research covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Rest of the World (RoW). Of these, the APAC region is predicted to lead the market over the forecast period for clean labels gaining the confidence of health-conscious people, innovative packaging, and the introduction of new flavors. Besides, high coconut production in Sri Lanka, Indonesia, Philippines, and Thailand are also adding market growth.
The global packaged coconut water market in Europe is predicted to hold the second-largest share during the forecast period. Factors propelling the packaged coconut water market growth in this region include the growing popularity of healthy, natural, and organic drinks and strict regulations by the EU on packaged coconut water distribution boosting the health-conscious consumers’ sense of confidence.
The global packaged coconut water market in North America will have healthy growth over the forecast period, and that in the RoW will have a steady growth.
Key Players
Key players profiled in the global packaged coconut water market report include Exotic Packaged Coconut Water market, including All Market Inc., Naked Juice Company, New Age Beverages Corporation, Celebes Coconut Corporation, Elegance Brands, Inc., Vaivai SAS, Elegance Brands, Inc., C20 Pure Coconut Water, LLC, PepsiCo (O.N.E. Coconut Water), The Coca-Cola Company (ZICO), Harmless Harvest, and COCOZZA, and others
Industry News
February 2020: iD Fresh has introduced iD Grated Coconut and Smart Sip Tender Coconut in innovative eco-friendly packaging, which heralds its journey to the plastic-free future.
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