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NEW YORK, Sept. 30, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global coconut water market in US size is estimated to grow by USD 4.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over
24.45%
during the forecast period. health benefits of coconut water
is driving market growth,
with a trend towards
increasing number of private label brands. However,
harmful methods adopted by coconut water players
poses a challenge. Key market players include Amazon Inc., Amy and Brian Naturals, Blue Monkey Collection, Boho Chax, C2O Coconut Water, Celebes Coconut Corp., CMG Partners Inc., Edward and Sons Trading Co., Equator Beverage Co, Goya Foods Inc., Harmless Harvest Inc., Iberia Foods Corp., iTi Tropicals Inc, Keurig Dr Pepper Inc., LQC Inc, OSena, PepsiCo Inc., Taste Nirvana International Inc., The Kraft Heinz Co., and ZICO Rising Inc.
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Technavio has announced its latest market research report titled Coconut water market in us 2024-2028
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
| Coconut Water Market In US Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
- |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 24.45% |
| Market growth 2024-2028 |
USD 4197.5 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
22.78 |
| Regional analysis |
US |
| Performing market contribution |
North America at 100% |
| Key countries |
US and North America |
| Key companies profiled |
Amazon Inc., Amy and Brian Naturals, Blue Monkey Collection, Boho Chax, C2O Coconut Water, Celebes Coconut Corp., CMG Partners Inc., Edward and Sons Trading Co., Equator Beverage Co, Goya Foods Inc., Harmless Harvest Inc., Iberia Foods Corp., iTi Tropicals Inc, Keurig Dr Pepper Inc., LQC Inc, OSena, PepsiCo Inc., Taste Nirvana International Inc., The Kraft Heinz Co., and ZICO Rising Inc |
Market Driver
The private label segment in the US coconut water market is experiencing significant growth. Major retailers, such as Walmart and Kroger, are increasing their presence in this market by offering their own branded coconut water products. Consumers are increasingly opting for these private label brands due to their affordability compared to branded products. Walmart's Great Value and Kroger's Simple Truth are popular private label brands that offer organic, non-GMO, and Fair Trade Certified coconut water products. In the first half of 2021, sales of these private label brands increased both in volume and revenue compared to the previous year. This trend is expected to continue, driving the growth of the coconut water market in the US.
The Coconut Water market is on an upward trend due to its high mineral and electrolyte content, making it an ideal beverage for fitness and wellness enthusiasts. With the rise of lifestyle illnesses such as obesity, cardiovascular diseases, and diabetes, there is a growing demand for natural, healthy beverages. Coconut water offers a natural source of antioxidants, which help improve cardiovascular health, kidney function, and immunity. Carbonated beverages and energy drinks are losing favor to this natural alternative. Coconut farming communities stand to benefit from the export opportunities created by this trend. Organic additives like ginger and turmeric are also being added to enhance the health benefits. Packaging formats like plastic bottles, Tetra packs, and cans are being used to cater to various consumer preferences. Flavored coconut water in pineapple, mango, lime, and other natural flavors is also gaining popularity. Probiotics are being added to enhance the nutritional value. Quick-service restaurants and online platforms are offering coconut water as a healthy alternative to sugary drinks. Health consciousness and health awareness are driving the demand for this liquid gold. The average temperature trend towards warmer climates is also contributing to the growth of the coconut water market. Protein & Coconut is a new entrant in the market, offering a protein-rich version. The market is expected to continue growing as people seek natural and vegan alternatives to processed beverages.
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Market
Challenges
Coconut water, derived from young coconuts aged 6-9 months, offers the highest quantity and natural sweetness. However, supplying chilled or frozen coconut water from young coconuts is uncommon in the US market due to its limited availability and higher cost compared to mature coconuts. Instead, many players opt for concentrated coconut water, manufactured through heating and adding water for packaging. Although economical, this process denatures beneficial enzymes and nutrients. Alternatively, some companies add natural flavors and sweeteners to mature coconut water to enhance taste. Despite these modifications, maintaining the natural nutritional properties of coconut water remains a challenge for the industry.
The coconut water market faces several challenges in catering to diverse consumer preferences. Sweetened and unsweetened versions of coconut water have different taste profiles, appealing to those who enjoy the natural sweetness of tropical fruits and those seeking a more natural, unsweetened option. Tender coconut water and coconut water powder come in various forms, including cartons and bottles, catering to the convenience of consumers. Immunity-boosting beverages and functional qualities are driving demand for coconut water in the health and fitness industry. Natural alternatives to sugary drinks and sports beverages are preferred by vegan consumers. The potassium content, natural electrolytes, and simple sugars make coconut water an attractive choice. UHT processing allows for longer shelf life and wider distribution, but may affect the taste and nutrient content. Green coconuts, rich in nutrients like potassium, manganese, calcium, magnesium, cytokines, and phytohormones, are in high demand. Coconut water's natural electrolytes, carbs, and minerals make it a popular choice for athletes and fitness enthusiasts.
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Segment Overview
This coconut water market in US report extensively covers market segmentation by
Flavor
1.1 Flavored coconut water
1.2 Plain coconut water
Product
2.1 Sweetened coconut water
2.2 Unsweetened coconut water
Geography
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Research Analysis
Coconut water, derived from green coconuts, is a natural and refreshing beverage known for its simple sugars, natural electrolytes, and essential nutrients. It contains carbohydrates, potassium, salt, manganese, calcium, and magnesium, making it an ideal healthy beverage for those seeking natural hydration options. With the increasing health awareness and fitness trends, coconut water has gained popularity among fitness enthusiasts as a natural alternative to sugary sports drinks. Packaging formats like Tetra packs and cans have made it more accessible and convenient for consumers. Flavored coconut water, such as pineapple, adds an extra layer of taste and enjoyment. The functional qualities of coconut water, including its high potassium content, make it a popular choice for vegan consumers and those seeking plant-based beverages. UHT processing ensures a longer shelf life without compromising its nutritional value.
Market Research Overview
Coconut water, derived from green coconuts, is a natural source of simple sugars, electrolytes, and nutrients. It contains essential minerals such as potassium, salt, manganese, calcium, and magnesium. Coconut water is also rich in cytokines, phytohormones, and antioxidants, making it an ideal beverage for fitness and wellness enthusiasts. With the rising awareness of lifestyle illnesses like obesity, cardiovascular diseases, and diabetes, the demand for natural juices and electrolyte-rich beverages has grown. Coconut water is available in various forms, including liquid, powder, and Tetra packs, and is used in sports beverages, energy drinks, carbonated beverages, and natural juices. The tropical fruit is also known for its immunity-boosting properties and vegan properties, making it a popular choice among health-conscious consumers. Coconut water is also used in quick-service restaurants and convenience stores, and there are opportunities for export to countries with high health awareness and fitness consciousness. The taste profile of coconut water can be enhanced with natural additives like ginger, turmeric, and tropical fruits such as pineapple, mango, and lime. Probiotics can also be added to coconut water to improve its functional qualities. Coconut farming is an essential industry for coconut water production, and sustainable farming practices are crucial to ensure a consistent supply of high-quality coconuts. UHT processing is used to preserve the nutritional value and extend the shelf life of coconut water. The market for coconut water is diverse, with consumers preferring various packaging formats such as Tetra packs, cans, bottles, and cartons. Online and offline retail stores cater to the demand for convenient and quick access to this healthy beverage. Coconut water powder is also gaining popularity due to its convenience and long shelf life. In conclusion, the coconut water market is a growing industry driven by the increasing awareness of health and wellness, the demand for natural alternatives to sugary beverages, and the functional qualities of coconut water. The market offers opportunities for innovation, with new flavors, packaging formats, and additives being introduced regularly to cater to the evolving consumer preferences.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Flavor
Flavored Coconut Water
Plain Coconut Water
Product
Sweetened Coconut Water
Unsweetened Coconut Water
Geography
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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