The global consumption of coconut water is nearing the 4bn mark, although more could be done to exploit the potential demand for the product in emerging economies. That is the conclusion of new research from Datamonitor Consumer.
It found that consumption in the UK would approach 25m litres this year, with even higher growth expected in Japan, Canada and France. Datamonitor Consumer claimed that there was “untapped opportunity across the global marketplace”, citing sceptical consumers and lack of innovation as reasons behind the lack of emergence of coconut water in some marketplaces.
Datamonitor Consumer said: “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.”
Sara Grady, analyst for Datamonitor Consumer, said: “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.”
“While some key emerging markets have a strong unpackaged coconut water tradition, there is a growing audience for packaged options in perhaps unexpected regions.”
Source: News Desk