(Food-Beverage-News.Com, January 19, 2022 ) U.S. Packaged Coconut Water market size was estimated at $5.6 billion in 2020, growing at a CAGR of 11.23% during the forecast period 2021-2026. Coconut juice that has been packaged in bottles, cans, and pouches is known as packaged coconut water. Coconut water that has been packaged has a longer shelf life and is rich in minerals and vitamins and is also a natural drink and low calorie drink as well as healthy drink. Because of its green appearance, coconut water is also known as green coconut water. Coconut water is an all-natural, healthy, and delicious organic beverage. While it is safe to drink coconut water straight from coconut, packaged coconut water is also equally safe and healthy. It has a sweet, slightly nutty flavour that is naturally refreshing drink and natural drink. A whole tender coconut is much more difficult to transport than coconut water in a package as a result demand for the packaged coconut water is increasing.
Coconut water offers various health benefits, including being a rich source of several nutrients, possessing antioxidant characteristics, and aiding in the prevention of diabetes. Additionally, it is useful for sports and workout at the gym as coconut water moisturises the body and tastes better than regular water, in addition to providing health benefits. Increasing awareness among consumers about health benefits of coconut water coupled with rising prevalence of diabetes in this region is the major factor driving the growth of the market. Moreover, changing dietary pattern of the people and rising disposable income of consumers are set to further enhance the overall market development of the U.S. Packaged Coconut Water Market for the period 2021-2026.
U.S. Packaged Coconut Water Market Segment Analysis – By Type
Based on type, the U.S. Packaged Coconut Water market is segmented into Organic and Inorganic. Organic held the largest share and is estimated to register higher CAGR of 12.34% during the forecast period 2021-2026. Organic coconut water has many health benefits vitamins including vitamin B2, vitamin B3, and vitamin C, as well as other substances that are good for the skin, are found in coconut water. Coconut water contains relatively less fat, which helps to reduce your appetite and make you feel fuller. Coconut water is also low in calories and high in bioactive enzymes, which are believed to aid digestion and speed up metabolism thereby increasing U.S. Packaged Coconut Water market.
U.S. Packaged Coconut Water Market Segment Analysis – By Packaging Type
Based on packaging type, the U.S. Packaged Coconut Water market is segmented into Plastic Bottles, Metal Can, Tetra Pack and Pouches. Plastic bottles held the largest share in the U.S. Packaged Coconut Water market in 2020. Plastic bottles are convenient to transport and manage. It is lightweight and produced at a lower cost and transported with less energy thereby increasing U.S. Packaged Coconut Water market. However, Tetra Pack is estimated to register higher CAGR of 13.23% during the forecast period 2021-2026 owing to it is completely safe, and it preserves the majority of its nutritional worth.
U.S. Packaged Coconut Water Market Segment Analysis – By Distribution Channel
Based on distribution channel, the U.S. Packaged Coconut Water market is segmented into Supermarket/Hypermarket, Convenience Store, Specialty Store, Online Retailers and Others. Supermarket/Hypermarket held the largest share in the U.S. Packaged Coconut Water market in 2020. Supermarket/Hypermarket offer better brand visibility, easy shopping experience and the availability of a wide range of products and brands thereby is increasing the U.S. Packaged Coconut Water market. However, Online retailers are estimated to register higher CAGR of 12.76% during the forecast period 2021-2026 owing to it provides more discounts and wider options to purchase.
Increasing Awareness About Benefits of Coconut Water
Increasing awareness about health benefits of packaged coconut water among consumers is increasing the growth of the U.S. Packaged Coconut Water Market. Changing eating pattern of consumers and hectic lifestyle of the people thereby increasing the growth of the U.S. Packaged Coconut Water Market during the forecast period 2021-2026.
Rising Demand for Low Calorie Drinks.
Increasing demand for low calorie drinks owing to health concern is increasing the growth of the U.S. Packaged Coconut Water Market. Rise in consumption of ready-go-products and rising disposable income of the people thereby increasing the growth of the U.S. Packaged Coconut Water Market during the forecast period 2021-2026.
U.S. Packaged Coconut Water Market Challenges
High Cost
The major factor that is set to impede the growth of the U.S. Packaged Coconut Water Market is high production cost of packaged coconut water. Another factor which hamper the growth of market is availability of alternative products in the market.
Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the U.S. Packaged Coconut Water Market. In 2020, the U.S. Packaged Coconut Water Market share is consolidated by the top ten players present in the market. The U.S. Packaged Coconut Water Market, top 10 companies are, Coca Cola, Purity Organic LLC, C2O Pure Coconut Water LLC, PepsiCo Inc., Taste Nirvana International Inc., Amy & Brian Naturals, All Market Inc., GraceKennedy Ltd., Frolic Foods and Raw C.
Recent Development:
In January 2020, Purity Organics Inc. acquired Dunn's River Brands, Inc. This acquisition will provide better brand availability for their customers.
Key Takeaways
U.S. Packaged Coconut Water Market is increasing in 2020 owing to an increase in consumption of packaged coconut water in sport and gym activities. The U.S. Packaged Coconut Water Market scope for different regions will be provided in the final report.
Increasing preference of consumers towards healthy and natural drink set to aid the market growth of the U.S. Packaged Coconut Water Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the U.S. Packaged Coconut Water Market report.
High cost of packaged coconut water is poised to create the hurdles for the U.S. Packaged Coconut Water Market.
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