The coconut water market in Europe is expected to reach more than $1 billion by 2023, growing at an impressive CAGR of approximately 22% during 2017-2023.
CHICAGO, IL, UNITED STATES, March 13, 2018 /EINPresswire.com/ — The latest industry analysis by Arizton, on coconut water market in Europe offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by variants (plain and flavored), by packaging (paper and paperboard, plastic, and others), by type (sweetened and unsweetened), by distribution channel (hypermarket and supermarket, convenience stores, specialty stores, and other), and by geography (UK, Germany, France, Italy, Spain, Russia, Benelux, and others)
Coconut Water Market in Europe – Overview
The low sugar content, high nutritional value, minimal processing, and several other health benefits are some of the major factors augmenting the growth of the packaged coconut water market size in Europe. The increasing adoption and proliferation of coconut-based products and the rising need for substitutes for carbonated drinks by consumers across the world will boost the demand for these drinks in the European market. The vendors are launching innovative beverage options by combining coconut water with conventional products such as tea, coffee, juices, and chocolate will help them attract new consumers in the European market. The promotion of premium beverage will help players to launch innovative product portfolios in the European market and expand their businesses to new regions. The growing preference for flavored and blend varieties will help companies launch innovative recipes in the European market and encourage the adoption of these products in the region.
The wide availability of these products in the various hypermarkets, supermarket, retail stores, and other distribution networks is creating lucrative investment opportunities for business expansion in the European market. The use of these products in juices and cocktail blends and increasing applications in gourmet food are expected to have a positive impact on the overall market in Europe. The coconut water market size in Europe is estimated to reach over $1 billion in 2023 and is expected to grow at a CAGR of approximately 22% during the forecast period.
Coconut Water Market in Europe – By Variants
Vendors are experimenting with flavors to boost sales in the coconut water market in Europe during forecast period
The coconut water market in Europe by variants is segmented into flavored and plain. Flavored water dominated the majority of the market share in 2017 and is projected to grow at a CAGR of around 27% during the forecast period. The extensive use of these flavored water for puddings, desserts, cocktails, smoothies, and breakfast shakes is driving the growth of this market segment in Europe. The addition of familiar flavors is expected to improve the chances of adopting these products and boost the sales in the European market. The research analysts at Arizton determines that around 70% of flavored variants are witnessing success and the vendors are focusing on launching new variants to tap the business opportunity in the European market.
Coconut Water Market in Europe – By Packaging
Tetra Pak is the most popular packaging format in the packaged coconut water market in Europe
The packaging segment in the packaged coconut water market in Europe is divided into paper and paperboard, plastic, and others. Paper and paperboard dominated the market share in 2017 and is anticipated to grow at a CAGR of more than 24% during the forecast period. The availability of airtight packaging formats that offer longer storage and retail shelf life is propelling the growth of this segment in the European market. The advent of aseptic packaging technologies and multiple layers of aluminum and polyethylene is gaining traction in the market and is expected to continue generating significant revenues in the European market. Tetra Pak is still the most popular packaging solution in the market as it easily facilitates distribution and storage through a cold chain supply.
Coconut Water Market in Europe – By Type
Sweetened variant to dominate the market share in the packaged coconut water market in Europe during the forecast period
The packaged coconut water market in Europe by type is classified into sweetened and unsweetened. The sweetened segment dominated the total market share in 2017 and is projected to grow at a CAGR of approximately 24% during the forecast period. Sweetened water is marketed as an effective substitute for high-calorie carbonated drinks and juices thereby, propelling the growth of this segment in the European market. The sweetened variants are often used as an ingredient for various other beverages such as mocktails, cocktails, milkshakes, pancake sauces, frappes, and smoothies.
Coconut Water Market in Europe – By Distribution Channel
Hypermarkets and supermarkets are the most pre-dominate distribution channel in the European coconut water market
The distribution channel segment in the coconut water market is categorized into hypermarket and supermarket, convenience stores, specialty stores, and other. Hypermarket and supermarkets are the most popular distribution channel and dominated the majority of the market share in 2017. This channel of distribution is perfect to distribute products as standalone and in lots of 10 or 12 units. The hypermarkets and supermarkets allow the consumer the luxury to review and select a product from the wide variety of options available in these stores. These retail stores are also ideal channels for the sale of large volumes that consists of products packaged in 2 to 5 liters for commercial consumption.
Coconut Water Market in Europe – By Geography
The UK, Germany, and France to occupy the largest market share in the coconut water market in Europe
The packaged coconut water market in Europe by geography is segmented into UK, Germany, France, Italy, Spain, Russia, Benelux, and others. The UK occupied the majority of the market share in 2017. The UK, Germany, and France accounted for more than 70% of the total European market share in 2017. The proliferation of new brands, rising awareness, and increasing number of health-conscious consumers are some of the factors driving the growth of the UK market in Europe. The growth of the internet retailing or online websites that offer ease of shopping, online discounts, and door to door delivery will boost the sale of these products in the European market. The UK is the world’s third-largest online grocery market and accounts for approximately 7% total market share of the global online market.
Key Vendor Analysis
The coconut water market in Europe has diverse, competitive dynamics, and the intensity level depends on different geographical locations. For instance, the UK is the most competitive and Germany is very lucrative and hyper-competitive market. The leading vendors are focusing on launching new product portfolios to sustain the competition in the market and meet the consumer preferences in the European market. The companies are introducing options with distinct product identities, tastes, and flavors to attract new consumers. The adoption of innovative distribution channels and product placements in health and wellness centers and yoga centers will help players gain a larger share in the European market.
The major vendors in the market are:
Green COCO Europe
Other prominent vendors include CHI Coconut Water, H2 COCO, INVO, Delta Meaf, Thai Agri Food, Cocofina, Tradecons, Genuine Coconut, Happy Coco, Kulau, Mighty Bee, RiRi Coconut Water, Rubicon Drinks, Tiana Fair Trade Organics, Tropical Sun Foods, Windmill Organics, AlnAtura, and Zumi Natural.
For more details view report: https://www.arizton.com/market-reports/coconut-water-market-europe
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Source: EIN Presswire