Coconut Water Market Growth, Size, Share, Trends, and Forecast 2030

Coconut Water Industry Prospective:

The global coconut water market size was evaluated at $5.23 billion in 2022 and is slated to hit $20.24 billion by the end of 2030 with a CAGR of nearly 17% between 2023 and 2030.

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Coconut Water Market: Overview

Coconut water helps in detoxifying the body of human beings by providing anti-oxidant and hydration. The product offers a spectrum of health advantages to individuals along with contributing majorly to healthy skin. For the record, coconut water is used for enriching food & beverage products such as baked goods, nutrition bars, sauces, and soup recipes. More, it is low-calorie and cholesterol & fat-free.

Key Insights

• As per the analysis shared by our research analyst, the global coconut water market is projected to expand annually at the annual growth rate of around 17% over the forecast timespan (2023-2030)
• In terms of revenue, the global coconut water market size was evaluated at nearly $5.23 billion in 2022 and is expected to reach $20.24 billion by 2030.
• The global coconut water market is anticipated to grow rapidly over the forecast timeline owing to the health benefits offered by coconut water to people.
• In terms of form, the liquid segment is slated to register the highest CAGR over the analysis period.
• Based on distribution channel, the offline segment is expected to dominate the segmental growth in the upcoming years.
• Region-wise, the European coconut water industry is projected to register the fastest CAGR during the assessment timeline.

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Coconut Water Market: Growth Factors

Nutritive features of the product to translate into immense market demand across the globe by 2030

Health benefits offered by coconut water will steer the expansion of the global coconut water market. Huge consumer demand for functional beverages is likely to embellish the growth of the global market. A growing preference for organic items has translated into a humungous demand for coconut water in recent years. Demand for alternate products for carbonated beverages will steer the global market trends. In addition to this, coconut water is a key source of minerals, sodium, fibers, magnesium, vitamins, and potassium, thereby scaling up the expansion of the market globally in the coming future. Key business strategies such as strategic alliances will expand the scope of growth of the market across the globe. In the third quarter of 2020, Elegance Brands, Inc., a beverage firm marketing and distributing premium products, signed a strategic agreement with KC Distributing, LLC, for selling former’s beverage products such as coconut water. Such strategic moves will provide impetus to the expansion of the market across the globe.

Coconut Water Market: Restraints

Disruptions in supply chain activities can impede global industry expansion over forecast period

Disruption in the shipping of goods and fluctuations witnessed in the supply chain can hinder the growth of the coconut water industry globally.

Coconut Water Market: Opportunities

Growing consumption of beverages by patients admitted to hospital will open new growth avenues for the global market

With doctors recommending coconut water for patients and pregnant as energy drinks, the market for coconut water is predicted to gain traction in the years ahead.

Coconut Water Market: Challenges

Huge product costs can prove to be a huge challenge for the industry across the globe

High costs of the product and less sale of the drinks in emerging economies due to its rising costs can impede the expansion of the coconut water industry across the globe.

Coconut Water Market: Segmentation

The global coconut water market is sectored into form, distribution channel, and region.               

In terms of form, the global coconut water market is segregated into powder and liquid segments. Furthermore, the liquid segment, which amassed nearly half of the global market revenue in 2022, is set to register the highest CAGR in the next couple of years. The growth of the segment during the predicted timeline can be due to the large-scale consumption of coconut in liquid form by patients and pregnant women across the globe.

Based on the distribution channel, the global coconut water industry is sectored into online and offline segments. Moreover, the offline segment, which garnered a major chunk of the global industry share in 2022, is estimated to lead the global industry over the estimated timeframe. The segmental expansion over the predicted timeline can be subject to the ability of offline stores in providing various food items and acting as a one-stop solution for shopping activities.

Coconut Water Market: Report Scope

 Coconut Water Market: Regional Insights

North America is predicted to maintain its dominant position in the global coconut water market over the analysis period

North America, which contributed about 60% of the global coconut water market revenue in 2022, will be a dominating region over the projected timeline. Additionally, the regional market expansion during 2023-2030 can be due to growing customer demand for coconut water drinks in countries such as the U.S. owing to their immunity-enhancing and functional features. A surge in the demand for natural, nutritive, and healthy as well as non-alcoholic drinks in the region has boosted the global market demand. An increase in the stocking of coconuts in supermarket stores, hypermarket stores, and grocery shops will proliferate the regional market size.  

Europe coconut water industry is set to register the fastest CAGR in the upcoming years owing to escalating demand for nutritive beverages by the millennial population in Europe. In addition to this, the presence of key players in countries such as the UK will proliferate the regional market size. Moreover, new product launches in the country are predicted to contribute majorly towards the growth of the industry size in the continent. For instance, in the second half of 2019, Vita Coco introduced sparkling coconut water in the UK.

Coconut Water Market: Competitive Space

The global coconut water market profiles key players such as:

• PepsiCo (O.N.E. Coconut Water)
• Elegance Brands Inc.
• All Market Inc.
• Elegance Brands Inc.
• Vaivai SAS
• COCOZIA
• New Age Beverages Corporation
• The Coca-Cola Company (ZICO)
• Celebes Coconut Corporation
• C2O Pure Coconut Water LLC
• Naked Juice Company
• Harmless Harvest.

The global coconut water market is segmented as follows

By Form

• Powder
• Liquid

By Distribution Channel

• Offline
• Online

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa