Global Coconut Water Market 2016-2020
About Coconut Water
Coconut water has emerged as a popular ready-to-drink healthy beverage. Over the last few years, the demand for coconut water has increased significantly, especially in North America and Europe. Coconut water has emerged as a good substitute for carbonated drinks and processed juices, owing to its nutritional and blending capabilities.
Technavio’s analysts forecast the global coconut water market to grow at a CAGR of 26.75% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global coconut water market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of packaged coconut water in the key geographical regions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Coconut Water 2016-2020
Technavio recognizes the following companies as the key players in the global coconut water market: Coca-Cola, PepsiCo, and Vita Coco
Other Prominent Vendors in the market 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)
Commenting on the report, an analyst from Technavio’s team said: “Packaging is often considered to be an extension of a particular brand's value. Innovative packaging in terms of new shapes, material, and dispensing systems act as differentiators for the various brands. Packaging of any brand is important in generating interest and curiosity among consumers. It is well known that packaging has a direct impact on sales. Companies are launching coconut water in tetra packs, which keep the product fresh and free from spoilage. Tetra Pak opened a knowledge center in Singapore in 2012 to provide new innovative technologies to vendors in the global coconut water market. Some companies are also selling coconut water in coconut-shaped bottles. For instance, Pearl Royal, a manufacturer in the US, is selling coconut water in coconut-shaped bottles with an apt caption to go with it: “Same inside, out”. Jax Coco has introduced a recyclable glass bottle for its coconut drink products.”
According to the report, the global coconut water market is witnessing many new product launches, which is benefiting the growth of the market. New product launches in the global coconut water market quintupled during 2008-2012. North America dominated the world market with more than 30% of new launches in 2011-2012, followed by Europe with 32%. In order to stay competitive in the market and to take advantage of the rising demand for coconut water, companies are coming up with innovative combinations such as iced tea and coffee.
Further, the report states that improper labeling and false claims by major vendors are challenges faced by the market. The false claims of super-hydration by certain top vendors is posing a serious challenge to the growth of the market. Continued sales with undeclared added sugars and other ingredients threaten consumer confidence and create confusion in their mind. For instance, Vita Coco positioned its products as super-hydrating, claiming that its products have almost 15 times more potassium content than a sports drink. These claims about super-hydration were found to be false and Vita Coco had to face lawsuits for false claims in 2012.
Coca-Cola, PepsiCo, Vita Coco, 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, Zumi Natural (Coco Zumi).
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