Exponential growth forecast for coconut liquor market by 2027
Photo by Tijana Drndarski on Unsplash
A business report forecasts an exponential growth of the coconut-based spirits market between 2025 and 2027.
Coconut-based spirits are one of the leading spirits in the market. They attract the attention of consumers due to the constant concern for health. Therefore, this industry, offering healthier and lighter spirits, is developing strong growth in the future. The Global Coconut Alcohol Market Insights report estimates the global market for this niche in the coming years.
Key players in the market include Hunter Distilleries (Australia), Island Distillers (United States), St. Lucis Distillers Group of Companies (Saint Lucia), El Dorado (Guyana), Pernod Ricard (France), Bacardi (Bermuda), Agavero (New Jersey), Brugal (Dominican Republic), Diageo (United Kingdom), Admiral Nelson’s (United States).
Competitive initiatives
For example, in August 2020, Bondi Distillery announced the launch of refreshing ready-to-drink cocktails. The company debuted CoCo vodka and CoCo rum. Both drinks contain quality natural ingredients such as fresh coconut water followed by Triple Distilled Vodka or imported premium Caribbean white rum.
With this initiative, the company will be more competitive in this sector.
It is worth noting that the main players are investing in different types of coconut alcohols. In addition to investing in various packaging techniques and advanced manufacturing techniques. With the development of alcoholic beverages, the industry is expected to develop growth potential in the coming years.
In order to develop this segment, companies are working on increasing the production of alcoholic beverages exclusively with coconut water. In addition, they are looking to focus on the growing demand from the Asia-Pacific regions, with Europe and North America being the main markets with the latter region positioning itself as the leader in the global market and expected to remain so in the coming years. Growing demand from global markets for coconut alcohol will drive growth in the North American market in the coming years.
Don’t drink and drive. Enjoy responsibly.
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