Confirming the craze in all things coconut, new data has revealed global consumption of coconut water will hit almost four billion litres this year.
But Datamonitor Consumer’s latest research on the global coconut water market suggests there are several unexploited countries that could hold even further potential.
Findings show that although UK consumption is due to reach 25m litres in 2015, much higher growth is expected from Japan, Canada, and France if there is the correct product and branding to inspire uptake.
Sara Grady, Analyst for Datamonitor Consumer, commented: “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 ongoing demands for functional wellness products.”
Regions such as Malaysia and Indonesia are not expected to see strong changes in consumption habits, while socio-economic shifts in Brazil, Mexico, and India, for example, are thought to be driving development towards the packaged sector. Datamonitor said it is now up to producers to enter these markets with affordable launches that align with wider interests to pull consumers away from fresh produce.