Pure Coconut Water Market Growing at 18.9% CAGR to Hit $6.81 billion by 2027 Growth, Share Analysis

Pure Coconut Water Market by Packaging Type (Plastic Bottles, Tetra Packs, and Cans), Flavor (Original Flavor, Fruit Flavor, Chocolate Flavor, and Others), Portion Size (Small Portion Size (less than 600ml) and Large Portion Size (more than 600ml), End User (Household, Food Services, Catering Services, and Others), and Distribution Channel (Direct Distribution and Retail Distribution): Global Opportunity Analysis and Industry Forecast, 2021-2027."According to the report, the global pure coconut water industry generated $2.04 billion in 2019, and is projected to reach $6.81 billion by 2027, growing at a CAGR of 18.9% from 2021 to 2027.

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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.

Leading Key Players

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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Based on packaging type, the tetra packs segment accounted for the highest market share, accounting for more than three-fifths of the total share of the global pure coconut water market in 2019, and will maintain its leadership position throughout the forecast period. This is due to enhanced shelf life, minimized loss of aroma of packed products, and preservation of quality and shelf life. However, the cans segment is expected to witness the highest CAGR of 20.7% from 2021 to 2027, owing to research and development activities and establishing production facilities and supply chains at a short distance to reduce costs.

Based on end user, food services held the major share of pure coconut water market. This is attributed to increase in purchasing power of consumers and increased rise in spending on luxury foods & beverages have led to a rapid growth of the food service industry, resulting in an increased demand for coconut water and its products.

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.

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Key findings of the study

The original flavor market was valued at $ 1.20 billion in 2019, and is anticipated to reach $3.88 billion by 2027, with a CAGR of 18.40% during the forecast period.

In 2019, by packaging type, the tetra packs segment held the highest share, accounting for 62.68%.

On the basis of end user, the food services led the market, garnering 54.05% of the global pure coconut water market share in 2019.

Depending on distribution channel, the direct distribution segment is estimated to exhibit the highest CAGR of 19.8%.

In 2019, North America was the most prominent market, and is expected to grow at a significant CAGR throughout the forecast period.

The soy protein segment is estimated to grow at the highest CAGR of 7.3% in the global protein ingredients market.

In 2019, North America was the most prominent market and is expected to grow at a significant CAGR during the forecast period.

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