Increase in use of coconut-based products in food & beverage applications, rise in consumption of natural sports drinks, and innovation in taste and flavor of coconut products and coconut-based food & beverages are projected to drive the growth of the pure coconut water market in the future.
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The market growth is propelled by rise in demand for coconut water as an energy drink. Active and health conscious consumers have shifted their preference toward natural alternatives to caffeinated and sugar-based energy drinks.
Hence, the demand for pure coconut water as a natural energy drink is growing rapidly due to its nutritional properties such as electrolytes and nutrients, which is expected to drive the pure coconut water market growth.
Coconut water and its products are still in nascent stages in various regions of Africa, such as Zimbabwe, Liberia, Eritrea, and Burundi, along with other developing regions. These are still untapped, which present lucrative pure coconut water market opportunities for manufacturers of coconut water.
Increase in use of coconut-based products in food & beverage applications is expected to drive the market for coconut products in the future. Coconut products are widely used as ingredients in variety of processed food products such as cookies, cakes, pies, soups, salads, milkshakes, and ice cream.
With growth in consumption of processed food products, owing to rise in urban population, the demand for coconut products is expected to grow at a significant rate in near future.
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Region wise, Asia-Pacific was the prominent region in 2019, garnering maximum share in pure coconut water market, owing to huge consumer base and increase in population. SMEs operating in the region are targeting online sales channel to increase their sales.
These companies are further investing in various marketing and advertising activities to increase their products awareness. In addition, surge in penetration of original flavor pure coconut water among consumers is anticipated to fuel the market growth during the forecast period.
The key players profiled in pure coconut water market include Vita Coco, Harmless Harvest, C2o Pure Coconut Water, Taste Nirvana, Craze Foods Ltd, Goya Foods, Inc, Foco Pure Coconut Water, Cococoast, Wai Koko Coconut Water, and Mojo Organics Inc. These players are introducing new products in the market to increase the customer base and product sale.
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