After the success of Fruits Up, Vadodara-based Manpasand Beverages Ltd, leading fruit juice player, on Tuesday announced entry into the coconut drink segment under the ‘Coco Sip’ brand name.
This new product consists of 100 per cent natural packaged tender coconut water. Positioned as a healthy and premium beverage the product will be available in 200 ml PET bottle, said Dhirendra Singh, Chairman and Managing Director. India, with a vast coastline of 7,517 km, is the third largest coconut producer in the world. While branded and packaged coconut water consumption in India is still at a nascent stage, it has a big market in developed countries. In the USA, coconut water drunk by consumers has shot up from less than 5 lakh litres in 2004 to around 200 million litres in 2014, according to a study. In Brazil, packaged coconut water accounted for around 20% of its total juice market in 2003 and by 2010 it had grown to around 65%. An estimated 700 million litres of branded coconut water had been consumed worldwide in 2015, excluding unbranded coconut water consumed in India and globally.