Axelum Resources Corp. Seals Multi-Year Deal with The Vita Coco Company, Inc
April 18, 2024 at 01:25 pm IST
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Axelum Resources Corp. signed a multi-year deal with The Vita Coco Company Inc. This renewal contract marks the continuing strategic alliance between two industry leaders, who are strongly positioned to capitalize on the robust trajectory of the global coconut water segment in the coming years. Based on the latest SkyQuest Technology report, the global coconut water market size was valued at USD 6.57 billion in 2022, and is poised to grow from USD 7.63 billion in 2023 to USD 25.18 billion by 2031, at a compounded annual growth rate of 16.1% during the forecast period.
Rising market demand is primarily driven by a rapidly-growing health-conscious population with an increasing preference for non-conventional beverages and expanding awareness on the nutritional benefits of coconut water.
The Vita Coco Company, Inc. offers a platform for brands in the functional beverage category. The Companyâs brands include the coconut water, Vita Coco; clean energy drink Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. Its branded portfolio is led by its Vita Coco brand, which is engaged in the coconut water category in the United States, and also includes coconut oil, juice, and milk offerings. It supplies private label products to retailers in both the coconut water and coconut oil categories. Additionally, the Company is also engaged in bulk product sales to beverage and food companies. Its Americas segment comprised of its operations primarily in the United States and Canada and the International segment comprised of operations primarily in Europe, the Middle East, Africa, and the Asia Pacific regions. The Companyâs products are distributed primarily through club, food, drug, mass, convenience, e-commerce, and foodservice channels.
THE VITA COCO COMPANY, INC. 
