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Coconut Water Concentrate Market Segmented By Organic and Conventional Nature in Fresh and Frozen Format
Over the past couple of decades, there has been a rise in consumption of coconut products which is attributable to increasing awareness about the critical health benefits associated with coconuts. According to the World Bank, the demand for coconut has been surging at a significant rate with the global coconut production expected to exceed more than 70 million metric tons by 2020.
Due to the rise in demand for coconut, the producers, and several key market participants have been making a rhetorical commitment to strategizing on meeting the ever-growing demand for the product. Coconut water concentrates is one such coconut oriented product witnessing high demand among its target segments especially from the food and beverages industry.
The global market trends surrounding coconut water concentrates have seen its promotion as a functional food and beverage ingredient.
Coconut water concentrates as an ingredient has exhibited several health benefits such as treatment for obesity, elevated low-density lipoprotein, dyslipidemia (abnormal amount of lipids in the blood), etc. Owing to such critical health benefit claims, coconut water concentrate has been used in large scale for a variety of applications in the food and beverages industry. Over the past couple of years, the market for coconut water concentrates is such that the demand for the product has outstripped the supply.
Due to the rise in the number of health-conscious consumers, new markets are being realized whereas the traditional market is fast evolving in terms of its offerings. Due to the ever-growing demand for coconut products, there have been new opportunities in trade marketing leaving less room for product perishability issues.
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According to various sources, Asian countries like India, Thailand and Indonesia have witnessed significant volume of coconut consumption which implies a critical opportunity for the market for coconut water concentrates to gain traction among the consumers in these regions.
Moreover, Brazil and the United States are considered to be the largest markets for packaged coconut water.
Some of the key players operating in the global coconut water concentrate market are iTi Tropicals, Inc., Celebes Coconut Corporation, Roxas Sigma Agriventures, Inc., Millenium Specialty Coco Prodcuts Inc., Franklin Baker, Vita Forte Inc., GraceKennedy Ontario Inc., VIET DELTA CORPORATION, Exoriens Fresh Ltd among others.
Major shareholding companies for coconut water concentrates have been strategizing on acquiring several key regional producers in order to gain the technical know-how of its counterparts. Apart from that, most of the companies have been taking steps on promoting its products and services by attending several high profile exhibitions and meets.
Among the various coconut oriented products, coconut water and virgin coconut oil have witnessed skyrocketing demand over the past couple of years. The culmination of several key factors such as the rise in awareness about the health benefits associated with the consumption of these products and the increasing number of health-conscious consumers have been driving the demand for the products.
Though the market for coconut water concentrates is niche and emerging in the European regions, Asia and North America regions are being considered as lucrative markets for coconut water consumption which paves an opportunity for the coconut water concentrate market.
A modeling-based approach and triangulation methodology will be followed to estimate data covered in this report.
A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period.
The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall coconut water concentrate market sizes.
Some of the key data points covered in our report include: