Market Size of Coconut Water Industry
| Study Period | 2017 - 2029 |
| Market Size (2024) | USD 2.84 Billion |
| Market Size (2029) | USD 4.73 Billion |
| CAGR (2024 - 2029) | 10.77 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Coconut Water Market Analysis
The Coconut Water Market size is estimated at USD 2.84 billion in 2024, and is expected to reach USD 4.73 billion by 2029, growing at a CAGR of 10.77% during the forecast period (2024-2029).
The segment of sweetened coconut water, which accounts for the lion's share of sales, dominates the coconut water market. The unreported sugar content in some coconut water brands can pose a problem for the industry's expansion. Due to consumer preference, packaged RTD Coconut water drinks are gaining ground in developed nations like the United States. Beverages with immunity-boosting and other functional qualities are becoming more popular due to the rising demand for available drinks. Since coconut water is also known for boosting immunity, prominent producers are progressively incorporating it into the standard healthy hydration category to take advantage of the market opportunity.
Fitness and health are essential to consumers. Natural alternatives to caffeinated and sugar-based energy drinks have become more popular among active and health-conscious customers. Coconut water has a low fat and sugar content and a low-calorie count. It's also beneficial for people with diabetes. Due to its nutritious characteristics, such as electrolytes and minerals, the demand for coconut water is fast increasing. Additionally, coconut water is preferred by vegan consumers in the market for its vegan properties. With increasing inclinations toward vegan beverages in the market, coconut water is one of the commonly preferred plant-based beverages for its natural and minimal processing, as coconut can be consumed without additional ingredients.
Coconut Water Industry Segmentation
Coconut water is the clear liquid inside coconuts. In early development, it serves as a suspension for the endosperm of the coconut during the nuclear phase of growth. The market has been segmented on the basis of flavor, distribution channel, and geography. It is segmented by flavor into plain coconut and flavored coconut water. The distribution channel is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. Geography is segmented into North America, Europe, Asia-pacific, South America, and Middle-East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD Million).
| Flavor | |
| Plain coconut water | |
| Flavored coconut water |
| Distribution Channel | |
| Supermarkets and hypermarkets | |
| Convenience stores | |
| Online retail stores | |
| Other distribution channels |
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Coconut Water Market Size Summary
The coconut water market is experiencing significant growth, driven by increasing consumer demand for health-conscious and natural beverage options. Sweetened coconut water dominates the market, although unreported sugar content in some brands poses challenges. The rise of packaged ready-to-drink coconut water, particularly in developed regions like the United States, reflects a shift towards beverages with immunity-boosting and functional properties. Coconut water's low fat, sugar, and calorie content make it an appealing alternative to traditional energy drinks, especially among fitness enthusiasts and those with dietary restrictions such as diabetes. Its vegan-friendly nature further enhances its appeal in a market increasingly leaning towards plant-based products. The market is also witnessing a surge in organic coconut water consumption, particularly in Europe, as consumers seek healthier, low-sugar options.
Regionally, the Asia-Pacific is poised to lead in packaged coconut water consumption, with countries like China, India, Indonesia, and Australia at the forefront. The region's preference for coconut water as a natural energy drink, coupled with its high potassium content, makes it a popular choice among millennials and sports enthusiasts. The market is moderately fragmented, with key players like PepsiCo Inc, The Coca-Cola Company, and C2O Pure Coconut Water, LLC focusing on strategic expansions and product innovations to enhance their market presence. The introduction of new products, such as Kalbe Farma's Hydro Coco with vitamin D3, highlights the ongoing innovation within the sector. As multinational companies continue to establish manufacturing bases in the region, the market is expected to expand further, driven by both established and emerging players.
Coconut Water Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Flavor
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2.1.1 Plain coconut water
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2.1.2 Flavored coconut water
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2.2 Distribution Channel
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2.2.1 Supermarkets and hypermarkets
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2.2.2 Convenience stores
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2.2.3 Online retail stores
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2.2.4 Other distribution channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle-East and Africa
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Coconut Water Market Size FAQs
How big is the Coconut Water Market?
The Coconut Water Market size is expected to reach USD 2.84 billion in 2024 and grow at a CAGR of 10.77% to reach USD 4.73 billion by 2029.
What is the current Coconut Water Market size?
In 2024, the Coconut Water Market size is expected to reach USD 2.84 billion.
