South Korea Coconut Beverages Market Research Report, 2029

The market for coconut beverages in South Korea has experienced significant expansion in the last decade, propelled by changing consumer preferences favoring healthier, plant-based beverages. Coconut-based products have been well-liked in various Southeast Asian nations for a while now. More recently, the South Korean market has also hopped on the bandwagon, following the worldwide shift towards natural, functional, and dairy-free options. In the past, coconut drinks did not hold much importance in South Korean culture. Barley tea, rice drinks, and fermented beverages such as kimchi-based drinks were the prevalent choices in the market. Nevertheless, with the advent of worldwide dietary preferences impacting consumer behavior in the early 2000s, South Korea experienced a surge in curiosity towards plant-based products. The refreshing coconut water, beloved for its hydrating properties, began to capture the spotlight in the mid-2010s, resonating with the increasing focus on health and wellness, especially in urban settings. First, coconut beverages were considered niche items, predominantly found in international supermarkets or specialty stores. The introduction of renowned international brands such as Vita Coco and Zico, combined with local businesses releasing their own coconut water options, played a crucial role in raising consumer awareness. With increasing interest, local companies broadened their product lines to encompass flavored coconut waters, coconut milk, coconut-infused coffees, and other convenient coconut drinks. During the late 2010s, the popularity of coconut beverages surged as South Korea's increasingly health-conscious and wellness-minded consumers looked for substitutes for sugary sodas and conventional dairy items. The increase in demand was driven by the growing adoption of veganism, lactose intolerance, and the trend towards low-sugar, low-calorie beverages. According to the research report "South Korea coconut beverages Market Research Report, 2029," published by Actual Market Research, the South Korea coconut beverages market was valued at more than USD 180 Million in 2023. The coconut beverages market in South Korea has seen impressive growth, driven by the growing focus on health, the transition to plant-based diets, and the rising popularity of convenient functional drinks. These factors, combined with the increasing appeal of global health trends, have influenced the market to become a dynamic and evolving segment. Health and wellness trend sees coconut water as a top choice for health-conscious individuals due to its natural hydrating qualities, electrolytes, and low calorie count. South Koreans are placing more emphasis on healthy and functional food and beverages, and coconut drinks, especially coconut water, cater well to these preferences. Plant-based and dairy alternatives are gaining popularity in South Korea, driven in part by the increased interest in veganism and lactose intolerance. Coconut milk, being both dairy-free and cholesterol-free, is increasingly being chosen as a substitute for regular milk in beverages and cooking, especially among city dwellers. As urban consumers embrace fast-paced lifestyles, there has been a significant increase in the popularity of ready-to-drink (RTD) beverages that provide quick, healthy, and convenient options. Coconut water and flavored coconut beverages are designed to meet this requirement by offering convenient hydration and nutritional advantages for people on-the-go. In addition to the plain coconut water which continues to be well-liked, flavored coconut water and innovative coconut-based drinks like coconut coffee, coconut smoothies, and coconut milk lattes are becoming increasingly popular. Sustainability is becoming more prominent among South Korean consumers, who are showing a preference for eco-friendly and sustainable packaging options.

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In South Korea, the coconut drinks market is mainly split into two main categories: beverages made from coconut milk and drinks made from coconut water. Both segments are witnessing an increase in demand, fueled by shifting consumer preferences towards healthier, plant-based options and a rising awareness of functional beverages. Coconut water has become quite popular in South Korea as a refreshing, natural drink. Renowned for its electrolyte content, minimal sugar, and calorie count, this beverage is being more and more popular as a better choice compared to sugary sodas and artificial juices. Coconut water is celebrated for its natural hydrating qualities, containing a bounty of electrolytes such as potassium, sodium, and magnesium. This makes it a perfect beverage choice for individuals looking to replenish their fluids naturally post-workout or in warm climates. There is a rising preference for low-calorie, sugar-free beverages among health-conscious consumers, and coconut water has become a popular natural option in this trend. It is commonly promoted as a more nutritious option compared to carbonated beverages. Convenience is key with ready-to-drink coconut water, conveniently packaged for busy urban consumers seeking a quick, healthy beverage for their on-the-go lifestyle. Ensuring the consistent taste, quality, and availability of coconut water poses a challenge for brands due to its perishable nature, especially when striving to maintain extended shelf lives and ensure fresh delivery. Beverages made from coconut milk. Coconut milk-based drinks are gaining prominence in South Korea's coconut beverage market, predominantly fueled by the increasing preference for dairy-free, plant-based. With the increasing number of South Koreans embracing vegan, lactose-free, and plant-based diets, coconut milk has become a versatile alternative to dairy milk in various uses like coffee, smoothies, cereals, and cooking. The coconut beverages market in South Korea has undergone notable development in the past few years, fueled by growing health consciousness, the emergence of plant-based eating habits, and the need for accessible, multipurpose beverages. Coconut-based items, such as dairy substitutes, refreshing beverages, and cooking essentials, are quickly becoming popular among various consumer groups. The popularity of dairy alternatives in South Korea is on the rise, driven by an increasing number of individuals embracing vegan, lactose-free, or plant-based diets. Coconut milk has become a top choice among dairy alternatives, known for its creamy texture and a hint of sweetness that caters to consumers looking to steer clear of dairy products. Due to a significant portion of the population having lactose intolerance alongside the increasing popularity of veganism, coconut milk emerges as an appealing substitute for cow's milk. It is also commonly found in dairy-free coffee creamers, smoothies, and cereal. Coconut milk offers numerous health benefits due to its richness in medium-chain triglycerides (MCTs), known for supporting metabolism and boosting energy levels. This option is free from cholesterol and contains less fat than regular dairy milk, making it a great heart-healthy alternative. The popularity of ready-to-drink coconut beverages has been on the rise in South Korea, as consumers seek out convenient options for on-the-go hydration and functional beverages. Coconut water stands out as a leading product in this category due to its abundance of natural electrolytes and minimal sugar content. Coconut water is promoted as a natural hydrating option, boasting high levels of electrolytes such as potassium and magnesium. This appeals to individuals seeking a healthier substitute for sugary sodas or artificial beverages. Considered in this report • Geography: Global • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Kripa Shah

Senior Analyst

Aspects covered in this report • Global Coconut Beverages Market with its value and forecast along with its segments • Region & country wise Coconut Beverages market analysis • Application wise Coconut Beverages distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Coconut-Milk Based Beverages And Creams • Coconut-Water Based Beverages By Application • Dairy Alternative • Cooking and Baking • Ready-to-Drink Beverages • Others

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The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.