Plant-based diet is characterized by a focus on fruits, vegetables, grains, nuts, and seeds while minimizing or eliminating animal products, have gained attraction globally. This shift is driven by various factors, including health consciousness, ethical considerations, and environmental sustainability. Moreover, the growing acceptance of flexitarianism—a flexible plant-based diet that allows for the occasional use of animal products-has boosted the market for plant-based substitutes such as coconut milk and water. The prominent trend that is gaining importance within the plant-based diet movement is the innovative use of plant-based ingredients. Manufacturers in the coconut milk and water market are introducing innovative products to cater to the growing demand for diverse and appealing plant-based options. This includes the introduction of flavored coconut waters, coconut milk-based yogurts, and other plant-based coconut derivatives to cater to evolving consumer preferences. The versatility of coconut-based products aligns well with the creative and varied nature of plant-based diets, contributing to the expanding market.
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Data Bridge Market Research analyzes that the Global Coconut Water and Milk Market is expected to reach USD 32,025,856.09 thousand by 2031 from 11,069,386.50 thousand in 2024, growing with a substantial CAGR of 16.4% in the forecast period of 2024 to 2031.
Key Findings of the Study
Rising Awareness of Health Consciousness among the Population
Health-consciousness has become a major trend, driven by an increased emphasis on adopting healthier lifestyles. Consumers are proactively seeking products that align with their health and wellness goals, and coconut milk and water have emerged as favored choices due to their perceived health benefits. Consumers are increasingly aware of the nutritional advantages associated with coconut-based products. Coconut water is recognized for its natural electrolytes and hydration properties, making it a popular alternative to traditional sugary beverages. The health-conscious demographic, particularly Millennials and Gen Z, is drawn to the natural and nutrient-rich attributes of coconut water, positioning it as a preferred beverage in their wellness routines.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Product (Water and Milk)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Spain, Italy, Turkey, Switzerland, Belgium, Netherlands, Russia, Rest of Europe. Philippines, Thailand, Indonesia, India, China, Vietnam, Japan, Malaysia, Singapore, South Korea, Hong Kong, Taiwan, Australia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Kuwait, Saudi Arabia, U.A.E., and Rest Of Middle East and Africa
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Market Players Covered
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The Vita Coco Company (U.S.), ZICO Rising, Inc (U.S.). Harmless Harvest (U.S.), Amy & Brain Naturals (U.S.), PepsiCo, Inc. (U.S.), Ben Tre (Vietnam), Thaicoconut (Thailand), The Neighborhood Beverage Co. (U.S.), Pamposh Foods India Pvt. (India), NILO (U.S.), MADHURA COCO FRESH (India), Roligt Foods Pvt Ltd (India), CocoCoast (Australia), Innovative Food & Beverage (Singapore), RAW C (Australia), CoAqua (U.S.), Lifetree Agro Foods Pvt. Ltd (India), RITA Food & Drink Co.,Ltd. (Vietnam), TROPICAL SUN (U.S.), C-COCONUT WATER (Australia), Life Refreshed Brands - Real Coco. (U.S.), Cocomi Bio Organic (SriLanka), Made (Aust) Pty Ltd. (Australia), Dabur India Ltd. (India), Arcadia Biosciences (U.S.) and among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
The global coconut water and milk market is segmented into one notable segment based on product.
- On the basis of product, the market is segmented into milk and water
In 2024, the water segment is expected to dominate the global coconut water and milk market
In 2024, the water segment is expected to dominate the market with a 79.30% market share due to the rise of plant-based diets and the increasing prevalence of lactose intolerance.
Major Players
Data Bridge Market Research analyses The Vita Coco Company (U.S.), ZICO Rising, Inc (U.S.). Harmless Harvest (U.S.), Amy & Brain Naturals (U.S.), PepsiCo, Inc. (U.S.) as the major companies in the global coconut water and milk market.
Market Developments
- In February 2023, The Vita Coco Company announced the expansion of its coconut water portfolio by partnering with Diageo for canned cocktails and marketing its drink as a hangover cure. This will help the company to widen its market scope and impact in comparison to other players in the market.
- In May 2021, Arcadia Biosciences acquired Lief Brands, including CBD brands such as Soul Spring and Saavy Naturals, for USD 4.0 million in cash and 827,400 shares. The purchase aims to strengthen Arcadia's presence in the CBD wellness space and expand distribution to over 5,000 stores nationally. Notable brands acquired include Zola, recognized for its sustainably sourced coconut water, recently named the best-tasting by Epicurious. The acquisition provides Arcadia access to an experienced management team, a 20,000-square-foot manufacturing facility, and potential synergies for growth in both CBD and food and beverage sectors.
Regional Analysis
Geographically, the regions covered in the global coconut water and milk market report are U.S., Canada, Mexico, Germany, U.K., France, Spain, Italy, Turkey, Switzerland, Belgium, Netherlands, Russia, Rest of Europe. Philippines, Thailand, Indonesia, India, China, Vietnam, Japan, Malaysia, Singapore, South Korea, Hong Kong, Taiwan, Australia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Kuwait, Saudi Arabia, U.A.E., and Rest Of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is expected to dominate the global coconut water and milk market
Asia-Pacific is expected to dominate the global coconut water and milk market due to the rise of plant-based diets and the increasing prevalence of lactose intolerance in the region.
Europe is expected to be the fastest-growing region in the global coconut water and milk market
Europe is expected to grow during the forecast period due to the region's abundant coconut cultivation and longstanding culinary traditions, with a rich heritage of incorporating coconut-based products into daily diets.
For more detailed information about the global coconut water and milk market report, click here – https://www.databridgemarketresearch.com/ko/reports/global-coconut-water-and-milk-market
