Global coconut water consumption to hit 3.9bn liters in 2015

Global coconut water consumption to hit 3.9bn liters in 2015

While the recent coconut water boom originated in the United States, Datamonitor Consumer’s latest research on the global coconut water market suggests that although the US still has many miles in it, there are several markets that hold even further potential.

Findings show that while American consumption is set to surpass 300m liters in 2015, much higher growth is expected from France, Japan, and neighboring Canada. These markets may be tougher nuts to crack due to skeptical or flighty consumers, or a simple lack of innovation as has been the case in Canada so far, but the correct product and branding could inspire uptake. There certainly appears to be untapped opportunity outside of the US.

Sara Grady, Analyst for Datamonitor Consumer notes: “With the focus very much on the US and Europe, some wealthy, health-conscious markets have been missed out by coconut water brands. Japan has the potential to be worth almost $500m by 2019 as coconut water directly appeals to on-going demands for functional wellness products.”

But what about the markets where unpackaged volumes dominate? While regions like Malaysia and Indonesia are not expected to see strong changes in consumption habits, socio-economic shifts in Brazil, Mexico, and India, for example, are thought to be driving development towards the packaged sector. It is now up to producers to enter these markets with affordable launches that align with wider interests enough to pull consumers away from fresh produce.

“While some key emerging markets have a strong unpackaged coconut water tradition, there is a growing audience for packaged options in perhaps unexpected regions,” explains Grady. “Producers investing in markets such as India and Brazil should be sure to convey the convenience and hygiene benefits of choosing a packaged drink to see success.”

Although this might seem implausible, the rapid uptake of bottled water in India should be taken as a lesson that consumption habits can be changed if adequate reason is given by brands. With packaged coconut water already gaining ground in Brazil, there is clearly an opportunity to capitalize on interest from developing markets.

For more information on the global coconut water market please see Datamonitor Consumer’s latest databook “Coconut Water Consumption in 25 Markets, 2009 to 2019.”

-ENDS-

Notes:

This proprietary dataset has been created by Datamonitor Consumer’s analysts who extensively examine primary and secondary sources including trade and specialist publications, business and academic journals, government and national statistical sites/reports, newspaper and periodical articles, and websites. Among the main sources used to collate this dataset were: Datamonitor Consumer's global survey 2014; Datamonitor Consumer's Product Launch Analytics; SINDCOCO Brazil; APCC; and the FAO.

This dataset contains the total packaged and unpackaged coconut water market volumes and values by country.

About Datamonitor Consumer:

Datamonitor Consumer provides comprehensive analytical coverage of global consumer markets through its Consumer Knowledge Center. Its research covers consumer and shopper behavioral analysis, product innovation and market sizing across all key FMCG sectors. Combined this expertise helps to identify future innovation and market opportunities and ultimately drive growth.