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Global Coconut Water Market Segments: By Form (Powder and Liquid); By Distribution Channel (Online and Offline); and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Coconut is a multi-purpose fruit with various health benefits. Consumers have been gradually consuming a range of nutritious and energy drinks in order to sustain a healthy lifestyle over the last few years. Excessive intake of carbonated and sugary drinks is related to a number of health conditions, including obesity, cardiovascular disease, and diabetes, in people of all ages, from children to the working class. As a result, pure coconut water can be used as a replacement for carbonated beverages due to its benefits for all of the aforementioned conditions, especially weight loss.
Global Coconut Water Market to surpass USD 24.3 million by 2030 from USD 3.73 million in 2020 at a CAGR of 20.7% in the coming years, i.e., 2021-30. This growth is anticipated due increasing mergers and acquisitions across various sectors which will create a worldwide demand for Coconut Water. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Coconut Water industry.
Global Coconut Water Market is segmented by product type into Powder and Liquid. Liquid segment held the largest market share of in the year 2020. The liquid version of the substance is sold by the majority of producers in the industry because it is ready to drink and can be consumed on the go. Harmless Harvest released the Protein & Coconut brand of coconut water, which comes in three flavors: toasted coconut, chocolate, and vanilla spice. It also contains a protein blend derived from pea, pumpkin, and sunflower, in addition to coconut. Since it is energy-dense and filling, the creamy beverage is recommended as a snack.
Global Coconut Water Market is segmented by distribution channel into online and offline. Over the forecast period, the offline distribution channel is projected to expand at the fastest pace. These shops sell a wide variety of products and also operate as a one-stop-shop for all of your daily needs. As a result, when shopping for groceries and daily edibles, these stores are favoured. In addition, the cost of service and selling overheads are also very low. Large-volume sales also result in stronger large-scale operation economies.
Surging demand of the Coconut Water Market from numerous end-user industries is the key factor contributing in the market growth. Customers favor products with proven benefits, as demonstrated by the rising demand for coconut water. Customer expectations for coconut water for health healing functions have risen as proof of health benefits associated with coconut water for health restoration has developed. Consumers' increased interest in consuming coconut water as a way to improve their gut health is boosting sales of functional beverages and is expected to boost the Coconut Water industry, which is expected to have a major effect on the market during the forecast period.
Consumers' increased interest in consuming coconut water as a way to improve their gut health is boosting sales of functional beverages and is expected to boost the Coconut Water industry, which is expected to have a major effect on the market during the forecast period. Coconut water is rich in fiber, minerals, vitamins, magnesium, calcium, sodium, and potassium, and is considered a good source of these nutrients. Because of the above safe ingredients, it is the best rehydration drink, increasing its popularity among gym-goers and athletes. The demand for coconut water is expected to increase as a result of these health benefits.
Strong global concerns about the coronavirus pandemic have had an important, but negative, effect on the global pure coconut water market. Furthermore, due to high demand and low supply patterns, pure coconut water prices are projected to increase in 2020 to counteract economic uncertainty. Disruptions in the shipping supply chain, on the other hand, may cause temporary shortages in supply, placing upward pressure on prices in the short term.
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Global Coconut Water Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East,, and Africa.
Global Coconut Water in Latin America held the largest market share of XX.X% in the year 2020 in terms of revenue. Coconut water is a staple of the Brazilian and neighboring countries' diets. Because of the high demand, the product is now available in almost every store. In addition to being consumed as a balanced beverage, it is also used to cure hangovers. Agua de coco is a common drink made with coconut water that is considered healthy for curing a hangover.
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