Packaged Coconut Water Market Expected to Reach $3.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Packaged Coconut Water Market," The packaged coconut water market size was valued at $690.00 million in 2021, and is estimated to reach $3.9 billion by 2031, growing at a CAGR of 20.5% from 2022 to 2031.

Demand for coconut water as an energy drink is on the rise, driving the market's expansion. Natural alternatives to caffeinated and sugar-based energy drinks are now preferred by active and health-conscious consumers. Due to its nutritional qualities, including its electrolytes and nutrients, pure coconut water is in high demand as a natural energy drink, which is anticipated to fuel the expansion of the packaged coconut water market.

Health-related concerns are becoming more widely known, and doctors are increasingly recommending coconut water as a treatment for metabolic disorders like obesity, kidney stones, liver damage, hypertension, and other serious conditions. These factors are creating lucrative opportunities for the market for packaged coconut water to expand. Furthermore, packaged coconut water is being consumed and added to diverse diets by athletes and fitness enthusiasts. Additionally, the expansion of social media is having a significant impact on a large population's desire for a healthy diet, which is anticipated to generate profitable prospects for the market's overall packaged coconut water market growth during the packaged coconut water market forecast period. Thus, these packaged coconut water market trends is driving the market growth. 

According to packaged coconut water market analysis, the market is analyzed based on type, nature, packaging, and region. By type, the market is divided into tropical and pure coconut water and mix coconut water. Further, mix coconut water segment is segmented into pineapple, mango, watermelon, and others. Among these, the pure coconut water segment occupied the major packaged coconut water market share of the market in 2021, and is projected to maintain its dominance during the forecast period. The mix coconut water segment is the fastest-growing segment in the global packaged coconut water market. This is due to the wide distribution of products with varied flavors throughout the world. In Asia-Pacific, flavored coconut water has also attracted a large consumer base, which is anticipated to support the expansion of the packaged coconut water market.

By nature, the market is divided into organic and conventional. The organic segment is growing at a moderate rate during the forecast period. The demand for organic packaged coconut water is also rising, particularly when customers are becoming more knowledgeable about the advantages of organic coconut water.

By packaging, it is classified into plastic bottles, tetra packs, and cans. The tetra packs segment dominates the market during the forecast period. Tetra packs, one of the most popular packaging styles for packaged coconut water, are utilized extensively throughout the world and are thus anticipated to have an impact on the coconut water business as a whole.

The region that dominated the global packaged coconut water market in 2021 was Asia-Pacific, and this dominance is anticipated to continue throughout the forecast period. The Asia-Pacific region is expected to experience the fastest growth during the forecast period. The region's small and medium-sized enterprises are focusing on the internet sales channel to boost their sales. These firms are also engaging in a variety of marketing and advertising initiatives to raise consumer knowledge of their products. Additionally, it is projected that increased consumer acceptance of coconut water in packaged form with its original flavor will drive market expansion within the anticipated period.

The COVID-19 pandemic has had a significant negative impact on a number of industrial sectors. During the pandemic, the condition of the food and beverage industry and other crucial sectors held the greater demand. Due to supply chain interruptions and logistics-related problems, operations and critical functionalities were reduced across the manufacturing industries. However, the pandemic has raised awareness of healthy living standards and active lifestyles among a large population. The producers were seeking both organic and non-organic ways to expand the market for packaged coconut water. They were making dairy products, baked products, drinks, nutrition bars, and other things with coconut water. During COVID-19 pandemic, these factors helped the packaged coconut water industry expand overall.

The major players analyzed for global packaged coconut water industry are Amy & Brian Naturals, BlueRidge, C2O Coconut Water, Celebs Coconut Corporation, CocoCoast, Elegance Brands, Inc., GraceKennedy Group, Harmless Harvest, Mojo Organics Inc., Naked Juice, NewAge Inc., PepsiCo., Taste Niravana International Inc., The Coco-Cola Company, and Wai Koko Coconut Water.

KEY FINDINGS OF STUDY

• By type, the pure coconut water segment was the highest revenue contributor to the market, with $437.7 million in 2021, and is estimated to reach $2,390.6 million by 2031, with a CAGR of 20.1%.
• By nature, the conventional segment was the highest revenue contributor to the market, with $370.3 million in 2021, and is estimated to reach $2,162.9 million by 2031, with a CAGR of 20.9%.
• Depending on packaging, the tetra packs segment was the highest revenue contributor to the market, with $435.1 million in 2021, and is estimated to reach $2,368.5 million by 2031, with a CAGR of 20.0%.
• Region wise, Asia-Pacific was the highest revenue contributor, accounting for $361.1 million in 2021, and is estimated to reach $1,957.9 million by 2031, with a CAGR of 20.0%.