Market Highlights
The Organic Coconut Water Market 2020 is projected to be valued at USD 804.4 million by 2023, and anticipated to grow at a CAGR of 18.68% over the review period.
Market Scenario
The development of the global organic coconut water market is driven by factors such as its health benefits, antioxidant capacity, micronutrient content, better taste and others. Clean coconut water produces less toxic additives or residues of toxins, relative to standard coconut water. Such aspects will support a steady rise in demand for organic coconut water in the years ahead. Several producers now offer frozen organic coconut water to meet the challenges associated with the relatively short shelf-life of organic cocoa water. This improves its shelf life and allows transportation to regions where coconut water is not readily available. Another major advantage of organic coconut water is that it can be frozen to enhance its taste; as it is available in small bottles and tetra packs, it is very handy. Increasing global demand for organic coconut water and increasing awareness of a healthy lifestyle are some of the other key factors anticipated to boost future growth of the global organic coconut water market. Emerging evidence of coconut water's skin and hair benefits is anticipated to serve as an opportunity for corporations in the organic coconut water market.
Segmental Analysis
The global market for organic coconut was segmented by size, type of packaging, medium of distribution, and area. The market was split into pure and blended organic coconut water according to quality. Pure coconut water is becoming increasingly relevant on the market owing to growing knowledge of the health benefits of coconut water, increasing demand for organic and natural goods, as well as its increasing placement as practical hydrating beverages. Over the projection era, blended organic coconut water rises at a higher CAGR of 18.89 per cent.
The global demand for organic coconut water, depending on packaging size, is segmented into cartons, cans, and others. Due to the high consistency and strength offered by such packages, cartons account for the largest market share of such categories. The cartons market is expected to rise at a substantial CAGR over the projected period as to hit USD 365.5 million by the end of 2023. The second largest market share is acquired by the bottles segment.
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Regional Analysis
North America accounted for the largest market share of 36.03 in 2018 and is projected to grow over the assessment period at a CAGR of 18.20 per cent. North America's supremacy is primarily attributed to the increasing demand for food and plant-based drinks and rising health consciousness among the region's consumers. On the global market for organic coconut water North America is an significant area. The US leads the industry in North America with a volume share of 69.9 per cent thanks to the country 's rising demand for organic goods. The growing trend in vegan diets in the country has greatly contributed to the country 's growing demand for organic coconut water.
The Asia-Pacific region follows Europe, which represented the second largest market share and is estimated to exceed USD 280 million by 2023. Germany had the highest market share in Europe and expected to remain dominant over the forecast period due to increased consumer inclination towards a non-milk diet.
Competition Analysis
The eminent players in the global organic coconut water market are Celebes Coconut Corporation (The Philippines), Harmless Harvest (US), EPICUREX LLC (US), PepsiCo, Inc. (US), C2O Pure Coconut Water, LLC (US), The Coca-Cola Company (Georgia), Edward & Sons Trading Company, Inc. (US), Purity Organic, LLC (US), Munkijo (US), and Windmill Organics Limited (UK).
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