Pune, India, April 29, 2019 (GLOBE NEWSWIRE) -- Organic Coconut Water Market is poised to touch USD 804.4 Million by 2023 at an impressive 18.7% CAGR during the forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
The inclination towards organically grown beverages by consumers has gained traction in recent years. Coconut water is a drink attained by extracting the liquid within coconuts and being packaged in bottles, cartons, and cans. Preference over artificial flavors and adoption of healthy lifestyles are likely to work in favor of the organic coconut water market.
Market Outlook
According to Market Research Future (MRFR), the worldwide organic coconut water market size can balloon to USD 804.4 million by 2023, growing at a 18.7% CAGR from 2018 to 2023 (forecast period). The preference of coconut water by consumers in quenching their thirst is the primary driver of the market. In addition, health benefits which play a role in digestion and enhancing skin texture are likely to drive sales of the beverage.
The allergies faced by consumers due to the intake of chemical additives can be eliminated by the consumption of organic beverages giving the market a suitable trend to capitalize on. The entry of soft drink manufacturers into the organic beverages sector can lead to heavy investments and boost innovation in terms of flavor and packaging. But packaging prices and bottlenecks in the supply chain can pose a challenge to market growth.
Key Players and Industry Buzz
Well-known names in the organic coconut water market include Munkijo, C2O Pure Coconut Water, LLC, EPICUREX LLC, Celebes Coconut Corporation, Edward & Sons Trading Company, Inc., PepsiCo, Inc., Harmless Harvest, The Coca-Cola Company, Purity Organic, LLC, and Windmill Organics Limited.
Expansions are at the core of the strategies of these players. Brazilian company Obrigado has decided to expand its operations in Europe. The success of the venture will determine its future positioning in the market. Partnerships are gaining prominence as evident with Vita Coco selling shares within its company to the Reignwood Group, a Chinese conglomerate in order to gain a foothold in the Asian market.
TAJA Coconut, a U.S company, has launched an organic coconut beverage named after its brand name. The drink is devoid of genetically-modified organisms (GMO) and sugar. The patented extraction process manages to preserve nutrients in its package.
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Market Breakdown
The global organic coconut water market is segmented by type, packaging type, and distribution channel.
By packaging type, it is segmented into cartons, bottles, and others. Cartons can emerge as the largest segment in the organic coconut water market thanks to stability and strength of these packages. It can reach a valuation of USD 365.5 million by 2023. On the other hand, bottles can emerge as a significant source of revenue due to being to being used a single-serve container. Moreover, the recyclable nature of the bottles which can lead to minimum waste and high environmental impact can lead to a windfall for the organic coconut market in the forthcoming years.
Two major distribution channels considered are store-based and non-store-based. The store-based channel offers a steady stream of revenue to the market due to hypermarkets and retail stores being a trusted outlet for shopping. In addition, the use of mobile applications to ensure the ease of shopping is likely to boost the segment growth.
By type, it comprises pure coconut water and mixed coconut water. The pure Organic Coconut Water Market segment had dominated the market in 2017 and will continue its ascension till the end of the forecast period. It can reach a size of USD 555.8 million by 2023. The high growth within this segment can be attributed to the intake of the drink as a functional beverage. On the other hand, mixed coconut water can exhibit the highest CAGR of 18.89% during the review period thanks to preference of flavored beverages.
Browse the market data and information spread across 129 pages with 157 data tables and 17 figures of the report “Organic Coconut Water Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/organic-coconut-water-market-7563
Geographic Analysis
Region-wise, the market has its eye on Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW).
The North America region is predicted to showcase a CAGR of 18.20% over the forecast period. The engulfing wave of health consciousness is predicted to play a major role in driving the revenue streams of the market regionally. The U.S., in particular, is the biggest contributor of the region due to the trend of veganism which leans towards plant-based drinks.
The Europe region is led by Germany due to the preference of consumers. The region can generate close to USD 280 million to the market by 2023. The refillable method in Germany is likely to provide new growth avenues for the organic coconut water market.
The APAC organic coconut water market can touch a valuation of USD 179.8 million by 2023. Limited awareness in Japan regarding the distinction between organic and natural beverages can open up a growth opportunity for interested players.
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