Australia Packaged Coconut Water Market Size Zooming More Than 3X at Robust CAGR of 21.1% During 2023–2029

Published | 25 May 2023

Australia packaged coconut water market is flourishing due to the increase in consumer knowledge of the benefits of drinking coconut water, the shift in consumer preference towards natural and healthy drinks, and the supply of unique product versions infused with different flavors, including ginger, vanilla, lime, and guava.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Australia packaged coconut water market size at USD 0.05 billion in 2022. BlueWeave expects the Australia packaged coconut water market size to grow at a robust CAGR of 21.1% during the forecast period between 2023 and 2029, reaching a value of USD 0.17 billion by 2029. The primary factors driving the packaged coconut water market are the increase in consumer knowledge of the benefits of drinking coconut water and the shift in consumer preference towards natural and healthy drinks. Furthermore, to cater to different consumer tastes and preferences, multiple merchants around Australia are supplying unique product versions infused with various flavors, such as ginger, vanilla, lime, and guava. The preference for packaged coconut water over high-calorie drinks due to its low-calorie content and its increased usage during sporting events and gym activities because of its convenient feature positively influences the growth of the Australia packaged coconut water market during the period in analysis.

Opportunity: Enhanced taste and increasing number of flavors

The taste and flavor of coconut water have improved dramatically in recent years. Increased customer demand for healthier and more natural beverage options has pushed these advancements. The development of innovative processing processes that help to preserve the original flavor and nutrients of coconut water is one of the key drivers of this trend. Some brands, for example, are now pasteurizing coconut water using high-pressure processing (HPP), which helps to preserve its flavor and nutritional content without using heat. The technique also helps to lengthen the product's shelf life. Furthermore, there is a growing interest in flavored coconut water, which has resulted in the creation of new varieties and blends. Therefore, increasing improvements in the taste and flavor of coconut products could create lucrative opportunities for the growth of the market in coming years.

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Challenge: High cost associated with packaged coconut water

The high price of coconut water is one of the major factors which is anticipated to hamper the growth of the Australia packaged coconut water market during the forecast period. Coconut water has become a popular health drink because of its natural electrolytes, low sugar content, and other possible health benefits in recent years. This high demand can increase the price of coconut water in Australia. Furthermore, the harvesting and packaging of coconut water can be time-consuming and require specialized equipment. These production costs can add to the overall cost of coconut water. As a result of all these factors, the growth of the Australia packaged coconut water market could face challenges in the coming years.

Australia Packaged Coconut Water Market - By Type

Based on type, Australia packaged coconut water market is classified into pure coconut water and mix coconut water. Pure coconut water is expected to be a faster growing segment during the forecast period. This is mostly because consumers who are busy and worried about their health prefer natural energy drink options to those containing caffeine and sugar. Pure coconut water is becoming increasingly popular as a natural sports drink due to its nutritional characteristics, including electrolytes and minerals.

Australia Packaged Coconut Water Market: By category

Based on category, Australia packaged coconut water market is bifurcated into organic coconut water and conventional coconut water segments. The conventional coconut water segment is expected to hold a larger market share as compared to the other category segment. Conventionally grown coconut uses pesticides and chemical fertilizers that are helpful in preventing pest infestations and fighting diseases in the trees, thus maintaining proper growth and yield from the trees. Consuming regular coconut water is a more environmentally friendly option as it does not involve the use of packaging materials or energy for processing and transportation.

Australia Packaged Coconut Water Market - By Region

The Australia packaged coconut water market is dominated by New South Wales. Coconut water is a popular beverage in New South Wales and throughout Australia. The warm temperature, seaside lifestyle, and multicultural population of the state all contribute to the demand for coconut water as a pleasant and healthy beverage alternative. Natural and organic beverages, particularly coconut water, have grown in popularity among health-conscious New South Wales consumers in recent years. As a result, coconut water products are now more widely available in supermarkets, health food stores, and internet sellers across the New South Wales region.

Impact of COVID-19 on Australia Packaged Coconut Water Market

The COVID-19 pandemic had a combined effect on Australia packaged coconut water market. On the one hand, the health and wellness movement, combined with the increasing popularity of natural and organic products, raised demand for packaged coconut water as a healthy alternative to other beverages. However, the pandemic disrupted supply chains, resulting in a shortage of raw materials and higher production costs. As a result, the price of packaged coconut water increased. Lockdowns and limits on public gatherings also had an influence on the foodservice business, which is a major market for packaged coconut water. While demand for packaged coconut water remained strong overall, the pandemic created some challenges for the industry.

Competitive Landscape

The Australia packaged coconut water market is highly competitive, with all the players continually competing to gain a larger market share. The key players include Amy and Brian, C2o Pure Coconut Water, Celebes Coconut Corporation, CocoCoast, Elegance Brands Inc, Taste Nirvana, GraceKennedy Group, harmless harvest, Mojo Organics Inc, and Wai Koko Coconut Water.

Don’t miss the business opportunity of the Australia Packaged Coconut Water Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Australia Packaged Coconut Water Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Australia Packaged Coconut Water Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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