The global coconut water market size is expected to grow at a CAGR of +16% from 2022 to 2029. The market growth is driven by increasing consumer awareness of the health benefits of coconut water, as well as the rise of veganism and plant-based diets.
Coconut water is a clear liquid that is extracted from young green coconuts. It is rich in nutrients and has a refreshing taste, making it a popular beverage among health-conscious consumers. Coconut water is also used as an ingredient in smoothies, cocktails, and other beverages.
Asia-Pacific is the largest market for coconut water, accounting for more than 60% of the global market share in 2020. This is due to the popularity of coconut water in countries like India, Thailand, and Indonesia, where it is a traditional beverage. North America and Europe are also significant markets, with increasing demand for natural and organic beverages.
Globally, consumers are becoming more health-conscious and seeking healthier products such as coconut water, which is marketed as a dehydrator, a natural diuretic, a digestive soother, and a cholesterol-lowering effect. Low-sugar products are appreciated by consumers, which is quite seen in the increase in sales of coconut water across various countries in recent years. The consumption of organic products is increasing in developed regions such as Europe and is quite positively influencing the consumption of organic coconut water. With more and more innovative coconut products introduced into the market, the demand for these products is expected to grow during the forecast period. Moreover, coconut is widely preferred by consumers with inclinations towards sports as coconut water is commonly referred to as a natural energy drink as it contains antioxidants and other nutritional properties which help regain lost energy during sports participation. This accelerated the usage of coconut water among consumers in the market.