Coconut Beverages Market

Coconut Beverages Market Size, Growth, Forecast (2023-2028)

The Global Coconut Beverages Market size was US$ 5.10 billion in 2022 and is anticipated to succeed in the valuation of US$ 14.06 billion in 2028 and is predicted to register a CAGR of 16.1% during 2023-2028.

Coconut Beverages Market Scenario:

Coconut is the best food, oil, coconut water, coconut milk, and medicine source. Coconut milk, cream and water are usually mixed with other ingredients such as juices, purees, cocoa, coffee and soy milk to create endless possibilities for coconut-based beverages. These ingredients may vary depending on the quality of the drink and the target cost of assembling the final product. The essential ingredients used in repackaged coconut beverages are water, additives, coconut sources, and fats and oils. The main component of coconut drinks is water. Water components must comply with WHO standards for drinking water. This includes the sensory properties of water, physical, chemical and microbiological evidence.

The Coconut Beverages Market Industry growing tremendously, especially due to growing consumer preference for products that offer the greatest health benefits. Many health benefits of coconut are increasingly crossing the fast-growing health and wellness megatrends, and consumers are increasingly looking for products that offer the greatest health benefits.

Recent Developments Coconut Beverages Industry:

• RUNA Relaunches Plant-Based Energy Brand with All-New Look and 10-Calorie Functional Lineup - With the release of its revamped beverage formulation and brand redesign, clean energy brand RUNA hopes to revolutionize the way people caffeinate. With clean, plant-based ingredients and improved flavors, the reformulated RUNA provides consumers with a potent boost without the high calorie count of other brands.
• THE FRUIT JUICE INDUSTRY'S SOLUTION: When combined with coconut juice
• The sugar-reducer and image-enhancer enable fruit juice to achieve a NutriScore of B – with 100% juice.

REPORT COVERAGE:

Coconut Beverages Market Drivers:

Driving factors include increased consumer interest in health and wellness, increased prevalence of lifestyle disorders, increased interest in caffeinated light meals and hydration, and rising global average temperatures. The evolution of consumer perception that plant-based products are safer and healthier than animal-based products will help boost the market. The growing consumer preference for plant-based diets has been quite successful in boosting global sales. In addition, growing interest in clean labels and natural products is expected to further increase product demand over the next few years.

Coconut Beverages Market Restraints:

Climate change has had a negative impact on coconut plantations because it has caused massive floods, droughts, landslides and is vulnerable to climate change. According to the Sales Export Manager of True Fruits Co., Ltd. Due to the saltwater intrusion into Vietnam's Mekong Delta region, coconut production in 2020 decreased by 20% year-on-year. Therefore, fluctuations in coconut prices affect the overall price of the final product and are a major impediment to market growth.

In addition, large gaps between the ends of the coconut water supply chain, delicate coconut water preservation, and deceptive practices by several coconut water brands. Certain trends are expected in the market, including an increase in the number of fitness clubs and health clubs, a growing preference for natural and herbal beverages, and an increasing government initiative to encourage coconut cultivation.

Coconut Beverages Market Segmentation Analysis:

By Type:

• Mixed Coconut Beverages
• Pure Coconut Beverages

Based on the type, the market is divided into blended coconut drinks and pure coconut drinks. Coconut blends hold the largest market share due to the growing consumer preference for these products.

By Packaging Outlook:

• Tetra Pack
• Plastic Bottle
• Others

Tetra Pak leads the market, accounting for  more than 40.0% of 2022 sales. The packaging provides durability for the liquid packaged inside and helps protect the contents from microbial and bacterial contamination. It keeps the product safe for months. Tetra Pak is made up of several layers. Each layer is made up of various components such as wood board, polyethylene, a type of polymer, and aluminium. The choice of components also helps keep the package lightweight.

The Tetra Pak segment is expected to experience the fastest growth from 2022 to 2027. Another reason for the rapid acceptance of packages is their recyclability. In addition, manufacturers use 100% FSC wood to make it sustainable. Paper-based packages are extremely easy to open and handle and provide a strong environmental profile.

By Application:

• 0-14 yrs
• 15-34 yrs
• 35-54 yrs
• 55 yrs

Based on the application, the market will be divided into 0-14 yrs., 15-34 yrs., 35-54 yrs., and 55 yrs. up. The 15-34 segment dominates major markets and is expected to maintain that dominance for the next few years. This growth stems from young consumers' increased interest in health and wellness, encouraging them to consume beverages made from coconut.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Coconut Beverages Market Regional Analysis:

On the basis of Geography, the Asia-Pacific region is the main coconut production center and dominates the most important coconut beverage market, as about 75% of the world's coconuts are produced in this region. About 55 billion coconuts are produced annually in the region. At the same time, the increased trading activity of coconut-based beverages between Asian countries and other countries has significantly boosted the market. Countries such as Thailand, Indonesia and Sri Lanka are one of the top producers of coconut. Due to the abundance of raw materials, the region is a major producer of coconut-based products. Nestlé S.A. Thai Coconut Public Company Limited, Celebes Coconut Corporation, is contributing to the growth of the market. In addition to this, there is rapid urbanization, which should boost regional markets in the foreseeable future.

Key Players in the Market:

Major Key Players in the Global Coconut Beverages Market are

• VITA COCO
• PepsiCo
• Coca-Cola (Zico)
• Green Coco Europe
• Taste Nirvana
• C2O Pure Coconut Water
• Tradecons GmbH
• UFC Coconut Water
• Edward & Sons
• Maverick Brands