Coconut water is a clear liquid obtained from unripe coconuts which is consumed as a natural energy drink. Good nutrition coupled with taste has attracted the consumers to prefer these drinks in contrast with other soft drinks. In the recent years, coconut water is widely consumed as an energy drink owing to its low levels of fat, carbohydrates. In addition, coconut water aids in weight loss, facilitates digestion, reduces blood pressure and anti-ageing agent and so on. Coconut water is rich in minerals including potassium, calcium and phosphorous, proteins, vitamins (C, B1, B2, B3, B5 and B6) and less sugar content. People from non-tropical countries are the major importers because of unavailability while population in tropical countries is leading consumers of this drink.
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Increasing dehydration deaths in the recent years coupled with the consumers’ preferences for the quality & zero side effect drinks stimulated the consumption of coconut water which propelled the market growth. Packaged coconut water has been an integral part of the beverage market, prominently in the sports beverage market. The packaged coconut water is popular in the tropical countries including U.S., U.K., Brazil, Mexico, Philippines and so on because of the warm weather when compared to the other regions. The rising concern on dehydration health issues stimulated the consumers in the tropical countries to prefer this drink which is a considerable driving factor for this market growth.
Increasing demand from the developed economies from North America and Europe, increasing health consciousness along with introduction of new flavors for providing taste & smell are the boosting factors for increasing consumption of coconut water. In addition, innovation in processing and packaging methods gained the traction of the consumers which propelled the market growth. Tetra Packing is one of the emerging aseptically food packaging technique which have the capability to store coconut water for longer period without altering the natural texture and nutrients. Owing to all these benefits, the market is estimated to reach $XX m by 2021 with phenomenal CAGR.
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The flavoured segment has been dominating the market in the recent years. However, rising demand for the natural products from the past five years has created an upsurge in the growth of the unflavoured segment and is estimated to have consistent growth over the forecast period. In addition, increasing awareness among consumers about the side effects by the consumption artificial flavours is also estimated to bolster the sales of the unflavoured products.
The packaged coconut water usually has the life span of life span of 6 months when packed in pouches or aluminum cans under normal temperature conditions and 12 months under refrigeration. Moreover, the low capital cost involved in the production and packaging of coconut water and rising demand for these drinks across the globe is the significant factor for anticipation of rise in packaging coconut water industries. In addition, rise in convenience stores in numerous regions is estimated to increase the sales as they are the prominent distribution channel for this market.
In addition, coconut water is also used in the treatment of intravenous rehydration fluid in the cases of sudden unconsciousness or unavailability of medical saline. However, excessive consumption of coconut water leads to kidney disease, diabetes, high fever, heart arrhythmia and so on acting as hindrance to the market growth.
Americas accounted for the major share in terms of revenue in this market for the year 2015. U.S. dominated the market share from this region with a considerable and consistent growth rate in this segment. In addition, innovation in new flavor products also intensified the sales in this region.
Key Players in this market include:
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