Increasing consumer preference for natural and healthy beverages, rising young working-class population base and growing personal disposable income to drive India packaged coconut water market through 2023
According to TechSci Research report, “India Packaged Coconut Water Market By Type, By Sales Type, By Packaging Type, By Distribution Channel, Competition Forecast & Opportunities, 2013-2023”, India packaged coconut water market is forecast to grow at a CAGR of over 18%during 2018-2023. Coconut water is a sterile, nutritious, thirst quenching and rejuvenating health drink for all age groups, possessing enormous therapeutic properties. On account of rising awareness about the potential health benefits of drinking coconut water, increasing consumer inclination towards natural and healthy drinks, and introduction of innovative flavored coconut water variants such as pineapple, lime and litchi, the market is expected to register double-digit growth during forecast period.
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"India Packaged Coconut Water Market"
According to the National Council of Applied Economic Research, number of middle class households in India is projected to grow from 53.3 million in 2015 to 113.8 million by 2025. Also, the share of 15 – 64 years age group in the country’s total population was 66% in 2016, which increased to 66.23% in 2017, according to data from the World Bank. All these factors, in addition to rising young population base, rising living standards and increasing focus on personal health, are anticipated to boost demand for natural and healthy beverages, like packaged coconut water in India during the forecast period.
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“Packaged coconut water market in India is growing at a tremendous pace and this product is gaining popularity due to the increasing demand for healthy and natural drinks in the country. Rising demand for food & beverages that prevent aging due to stressful and hectic lifestyle, growing young working class population base, continuous investment in R&D activities to introduce new flavors and variants,and increasing number of celebrity endorsements are few of the major factors aiding growth in the packaged coconut water market in India and providing lucrative opportunities to companies operating in the market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Packaged Coconut Water Market By Type, By Sales Type, By Packaging Type, By Distribution Channel, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of packaged coconut water market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India packaged coconut water market.