coconut water

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Vita Coco Anticipates $1.1 Billion in Sales This Year With Category Expansions

The company’s growth makes it a key prospect for acquisition
coconut water

Valentina_G / Shutterstock

The global market for coconut water reached $2.2 billion last year.

Vita Coco, owned by parent company All Market Inc., is expecting to hit up to $1.1 billion in sales this year as it expands its portfolio to include not only coconut water, but also coconut milk, coconut oil, and other products.

The expansion and success of the company has gained the attention of big beverage companies looking to branch out into healthier categories that consumers seem to be leaning towards, Bloomberg reported.

One more health-conscious product under Vita Coco’s belt is a line of artisanal beverages and chilled fruit-flavored juice for consumers opting out of carbonated beverages.

For those looking for plant-based milk alternatives, the brand is launching Vita Coco Coconut Milk in March. The product will be available at Safeway supermarket locations, then distributed to additional grocers and independent retailers, according to Bloomberg.

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The coconut milk will be a mixture of coconut water and coconut cream to create an option with more calcium than dairy milk.