The global coconut water market was valued at almost USD2 billion in 2015 and is expected to surpass USD5 billion by 2020, says Technavio.
Technavio has announced its latest market research report on coconut water for the forecast period, 2016-2020. This market analysis, under the non-alcoholic beverages vertical, discusses the major drivers and key emerging trends that will influence the growth of the global coconut water market during the forecast period. Some of the top vendors listed in this industry analysis include Coca-Cola, PepsiCo, and Vita Coco.
In terms of geographical analysis, the Americas is expected to continue its domination over the global market and is likely to surpass USD3,185 million in revenue by 2020. The US will emerge as the key revenue-generator.
“The use of coconut water as a mixer is a prominent trend in the global coconut water market. Bars and clubs in London and other cities around the world are increasingly using coconut water as a mixer in cocktails. Its subtle, nutty flavor and hydrating features make coconut water an ideal mixer for alcoholic drinks. La Porte des Indes in London serves many cocktail drinks infused with coconut water such as Karma, which contains fresh coconut juice, vodka, passion fruit, green lime, and sweet basil,” says Manjunath Reddy, a lead analyst at Technavio for non-alcoholic beverages.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Health benefits associated with consumption of coconut water
Increased awareness about the consumption of coconut water is the fundamental driving force behind the demand for packaged coconut water in the global market. Coconut water is a natural drink that is enriched with sodium, potassium, and electrolytes, which are essential for the human body. It doubles as a nutritious health drink that can replenish body fluids. Coconut water also meets the consumer demand for drinks that are free from artificial flavors, sweeteners, preservatives, additives, and gluten. The demand for packaged coconut water is especially high in non-tropical countries where fresh coconut water is unavailable.
Rise in number of coconut water-based drinks positioned as a natural sports drink
Owing to its many health benefits, there is an ongoing upsurge in the number of coconut water-based drinks that are positioned as a natural sports drink. Coconut water helps replenish the electrolytes required by the body after vigorous exercise. NBA star LaMarcus Aldridge is one of the many famous sports personalities promoting the health benefits of coconut water. Companies such as Vita Coco and Coca-Cola (ZICO brand) are some of the pioneers in introducing coconut-water based drinks in the global market.
Growing media buzz and celebrity endorsements
Endorsements by celebrities along with the ongoing media buzz about the health benefits of consuming coconut water are significant incentives for the growth of the global coconut water market. Many leading Hollywood celebrities and pop singers were spotted drinking coconut water, which has positively impacted the growth of the market. Celebrities such as Madonna, Demi Moore, and Matthew McConaughey have even made investments in leading coconut water company Vita Coco, after which the sales of the company has increased by over 200% from 2007 to 2009. Vendors in the market space are currently leveraging effective marketing campaigns in an attempt to strengthen their positions in their global market.
Some of the other prominent vendors identified in this report are Amy & Brian Naturals, Bai, Bush Farm Trading Post Limited, C-Coconut Water, C20 Pure Coconut Water, CHI Coconut Water, Coco Libre, CocoJal, Ducoco, Edward & Sons, H2COCO, Harmless Harvest, INVO Coconut Water, ITI Tropicals, Frolic Foods, Jax Coco, nudie, Pulse Beverage Corporation, Pure Brazilian Coconut Water, Purity Organic, Raw C, Taste Nirvana International, Temple Lifestyle, Thai Agri Foods, Zola, and Zumi Natural (Coco Zumi).
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Coconut Water Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Coconut Water Market in Europe 2016-2020
- Global Coconut Milk Market 2016-2020
- Global Maple Water Market 2016-2020
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