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Coconut Water Consolidating Growth in a Burgeoning Segment
Coconut water has experienced a lot of initial success in the US due to its unique taste profile and sports nutrition benefits. Now is a pivotal time to further consolidate and grow the market, lest it be dismissed as just another â€˜fadâ€™ category.
The myriad of health benefits associated with consumption means that a natural positioning for coconut water has been a healthier alternative to sports nutrition drinks. This has particular appeal to athletes who have become reticent in recent times to consume some of the more commercially popular sports nutrition drinks because of perceptions that they are detrimental to health and weight management.
Three leading US coconut water brands are Vita Coco, Zico and ONE. All have recently benefited from outside investment; in Vita Coco’s case, support came from a group of celebrities led by Madonna, while Zico gained backing from Coca-Cola and ONE, PepsiCo. All three plan to use the investments to boost their marketing capabilities, aiming to gain a loyal following among frequent exercisers and, to a lesser extent, the wider community.
It is essential that these brands can consolidate their position before â€˜copycatâ€™ products and private labels can catch up. For the existing big players, establishing an image which makes them synonymous with the category will be crucial, otherwise new consumers will assume that all products are very similar and gravitate towards cheaper varieties.
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