LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global packaged coconut water market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global packaged coconut water market will grow at a CAGR of over 26% during the forecast period. The increasing frequency of new product launches is a major factor driving the market’s growth.
One of the major influencing factors, which are currently driving the global packaged coconut water market includes new product development and enhancements to improve taste and versatility of the products. Over the last few years, the global packaged coconut water market has observed a rise in the number of new product launches. A major company launched a new range of products that combine the hydration of coconut water with the nutritive properties of fresh fruit and vegetables, with no added fillers, water or sweeteners.
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In this report, Technavio highlights the growing demand for packaged sparkling coconut water as one of the key emerging trends in the global packaged coconut water market:
Growing demand for packaged sparkling coconut water
Over the past few years, carbonated sodas have been increasingly perceived as unhealthy because they typically contain artificial flavors, color additives or sweeteners, and high sugar and calorie content. Though consumers are mindful of the adverse effects associated with the consumption of carbonated drinks, they still demand refreshing beverages. Therefore, at present, there is a major uptick in demand for carbonated plant-based water such as packaged carbonated coconut water because consumers enjoy healthy beverages with a fizzy effect.
“Sparkling coconut water is considered ideal for mixing with cocktails or rehydrating after a workout as it is a natural and healthy alternative to sugary sodas and other expensive healthy alternatives. Besides, many players are launching different variants of sparkling coconut water,” says a senior analyst at Technavio for research on non-alcoholic beverages.
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Global packaged coconut water market segmentation
This market research report segments the global packaged coconut water market into the following products (packaged plain coconut water and packaged flavored coconut water) and key regions (the Americas, APAC, and EMEA).
The packaged flavored coconut water segment held the largest market share in 2017, accounting for nearly 59% of the market. The market share of this segment is expected to increase by nearly 14% during the forecast period.
The Americas was the leading region for the global packaged coconut water market in 2017, accounting for a market share of more than 68%. The market share of this region is expected to decrease by almost 9% by 2022. However, this region will dominate the market throughout the forecast period.
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