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what are the new trends in the coconut products market in the iteration of new and old brands?
A big change has taken place in the drink track of tmall’s double 11 this year. According to the market intelligence data of magic mirror, fino, which focuses on coconut flavor, quickly came out of the circle and rushed into the top three sales under the subdivided category of vegetable milk to press the perennial crown coconut tree of this flavor. In the whole beverage category, fino also surpassed Yibao, Coca Cola and other giants into the top four, second only to nongnongshan spring, Yuanqi forest and oatly.
This is not only the rise of a single brand, but also the representative of coconut penetrating into various sub categories. According to the market intelligence data of magic mirror, among the vegetable milk brands that tmall double 11 entered the top 30 this year, the brands with coconut flavor accounted for more than 1 / 3, second only to oatmeal flavor.
According to the data of prospective industry research institute, in 2020, the scale of China’s food protein beverage market will continue to increase to 258.3 billion yuan at a CAGR of more than 20%. Among them, coconut flavor has the fastest growth rate. According to tmall data, coconut ranks first in all flavors with a growth rate of 109%. For a long time in the past, this market was occupied by old brands such as coconut tree and happy home. However, in recent years, the output value of coconut tree has declined year by year, and the revenue of happy home has also declined. The new brand has brought new vitality to the track.
Not only coconut based drinks, but also the whole coconut products market has ushered in prosperity. This year, from drinks, pastries to personal care products, brands with coconut as raw materials have emerged in all categories and performed well. Capital has not missed this upsurge. Coconut man, the main coconut light cake, has completed two rounds of financing this year, and the full score of cocoa, a new brand of coconut milk, has also intensively completed three rounds of financing since the end of last year, including Zhenge fund and meihua venture capital.
Why did coconut products usher in an upsurge this year? Is this boom really sustainable? What new trends in the coconut products market have been revealed in the iteration of new and old brands?
Coconut products come out of the circle: new brands of drinks, pastries and personal care have emerged
The popularity of coconut products did not come suddenly. Last year, Xi tea launched the “raw coconut” series, in which raw coconut milk jelly entered the top 5 new product sales of Xi tea in the year. Naixue’s tea launched “domineering good coconut” coconut sand ice, which sold 100000 cups in three days. But it was not until this summer that Ruixing coffee launched the “raw coconut latte” that coconut products really came out of the circle.
According to the data of flying melon, the number of searches and notes with the keyword “coconut” in Xiaohong Book increased sharply in April in Tiemian city of raw coconut. At its peak, raw coconut lattes sold more than 10 million cups a month, which has been “sold out” for a long time. Many customers spontaneously purchased FeNO thick coconut milk, the raw material of raw coconut lattes from the e-commerce platform, and then made them at home. This triggered a trend of raw coconut latte DIY, and also ignited the supplier brand fino hidden behind Ruixing.
The posts on the little red book about using fino’s homemade raw coconut latte praise tens of thousands
The explosion of raw coconut latte made fino quickly complete the migration from end B to end C. In order to meet the needs of the C-end, fino launched a 200ml small package and displayed “n kinds of mixing and matching of thick coconut milk” on the official wechat platform, trying to enter more consumption scenarios as a “coffee partner”. From the data, fino’s attack on the C-end was very successful. According to the market intelligence of magic mirror, in tmall 618 this year, fino entered the top 10 of the vegetable milk brand list. At that time, the single product with the greatest contribution was the 1L high-capacity package, which was replaced by the double small packages below 11200ml, becoming the pillar of sales. Fino also successfully entered the top three of the list.
While fino became popular at the C-end, an upsurge of coconut products began to spread. According to cbndata’s incomplete statistics, a number of new coconut products brands have emerged in the market in recent two years, involving drinks, pastries, personal care and other tracks, especially drinks. A large number of new brands and products have been born in vegetable milk, fruit juice, yogurt and offline tea.
Because the market education of coconut products is still very primary, consumers are often confused about the source of coconut products. The tender coconut just picked from the tree is called green coconut. The transparent liquid inside is coconut water. Because it is rich in electrolytes and low in sugar, coconut water is mostly sold as natural drinks and sports drinks.
If the coconut is ripe and picked as an old coconut, the milky white coconut flesh inside the coconut will become thicker. Coconut meat is an important raw material for making coconut silk, coconut paste and coconut powder. Its different combination with water and coconut water can also produce coconut based drinks such as coconut milk, coconut milk and so on. Because of the high content of saturated fat, coconut meat is also used to make coconut oil, so it is often used to make personal care products such as body milk and soap.
China’s coconut water market has long been dominated by international brands, including Vita coco introduced into China by red bull’s parent company Huabin group in 2014 and Zico, a coconut water brand under Coca Cola. Wahaha launched little coco coconut water in 2019, but the response was very small. Among the new brands emerging in recent years, the offline store “kekou coconut” focuses on fresh coconut water, which is mainly sold with vegetable milk. The “Youye” launched in November this year claims to use 100% original coconut water.
The coconut milk track where the industry leader coconut tree is located attracts the most players. The frozen face code focuses on the label of beauty and beauty, and has also launched a single product containing bird’s nest. The cocoa Full Score established at the end of last year focuses on sugar free coconut milk. The first product was sold out within two days after it was launched. At present, the sales have exceeded 10 million. Coconut knows that last year’s double 11 was still unknown, and this year it jumped to No. 4 on the list of vegetable milk. In addition to new consumer brands, large beverage brands are also entering the board. Yuanqi forest launched the sub brand “summer wind” in April this year, focusing on low sugar coconut milk, and Weiquan launched a new coconut flavor “good coconut”.
Coconut snacks used to be sold as flavor snacks, mainly traditional brands rooted in Hainan. Founded in 2012, yeyutang is the first enterprise in Hainan to standardize the production and chain operation of coconut snacks. The new brand coconut full has jumped out of the geographical limitations, started from coconut oil, positioned the lifestyle brand, and its main product “coconut light cake” has been listed in No. 1 of tmall’s double 11 western pastry category. Tmall’s flagship store has been online for three months, with a store sales of more than 10 million. In the future, it will also develop food, drinks and washing products.
There are also many beauty care brands that choose coconut. Kopari is the first beauty skin care brand with 100% coconut oil as its main ingredient. In 2019, it was settled in Tmall international, cut from coconut skin care oil, and gradually extended to mask, essence, cream, body milk, Shower Milk and so on.
New trends of coconut products: upgrading of products and channels, and strength after testing the brand in the supply chain
Now that everything can be coconut, new brands are reshaping the market’s cognition of coconut products with new ways of playing.
The most direct change is the price. Compared with coconut trees, the unit price of 100ml coconut milk is only 1.5 yuan. Coconut knows that the unit price of 100ml of summer wind and frozen face password has doubled, and the price of a single bottle is more than 10 yuan.
The price rise of coconut products is inseparable from the trend of high-end, healthy and quality products. More and more brands begin to pay attention to the index of coconut content. The higher the coconut content, the higher the cost, and the higher the price. The frozen color code with the highest unit price of 100ml is famous for its 40% coconut content. The coconut content of fino’s thick coconut milk series is also more than 20%, while the coconut content in the industry is only single digits. Frozen face code also launched bird’s nest coconut milk in 2020, with the slogan of “containing collagen” and strengthened the label of beauty and beauty.
It is no longer limited to making beverage options other than drinks on the table and special snacks and souvenirs in the scenic spot. The new brands emphasize the collocation in multiple scenes such as family, work and sports, as well as the health and function of the products.
In response to the sugar free trend, cocoa launched sugar free coconut milk with full marks. Coconut knows that it has launched O sugar coconut milk, and coconut full has launched a light cake series, focusing on the selling points of 0 addition, low sugar and low fat. The offline brand coco coco, which focuses on fresh coconut water, has launched 1L energy water and three electric coconut water based on the functional attributes of coconut water. Moreover, due to the lack of natural coconut water mouth, high pricing and less functional than special functional drinks, coco coco mixed coconut water with coffee, fruit juice, oat milk and other drinks, and launched grass coconut water, coffee coconut water and fruit coconut water around “coconut water +” in an attempt to broaden the market.
In addition to products, the choice of channels for new brands also began to upgrade. For example, new brands such as coconut milk track, cocoa full score, frozen face code and summer wind avoid the hotels and hotel channels where coconut trees have always had advantages, but start from 711, Rosen, family and other convenience stores, unmanned containers and medium and high-end new supermarkets. Snack track, compared with yeyutang’s main shopping malls, airports, hotels, scenic spots and other channels, the new brand yemanman is mainly stationed in high-quality supermarkets such as harmay, Ole, citysuper, HEMA Xiansheng, Metro and so on. There are also brands that break through directly from the offline. For example, the offline stores of Kou Kou coconut have settled in shopping centers and office buildings such as Cocopark and kkone in Shenzhen.
The development of new channels such as e-commerce and live broadcasting also brings new opportunities to coconut products brands. Cooperation with super head anchors has become an important way for brands to get out of the circle. In May this year, yeman cooperated with Li Jiaqi’s live broadcasting room to sell an edible coconut oil. Coconut water brand monkey stick coconut landed in Li Jiaqi’s live studio three times in June, August and September this year. Many of the commodity reviews are fans of Li Jiaqi’s live studio. Cocoa’s coconut milk with full marks has also entered the Sydney live broadcasting room and Li Jiaqi live broadcasting room this year.
Compared with the unchanged packaging of coconut trees for more than 30 years, the marketing methods of new brands are also trendy. In order to cater to young consumers, cocoa created the character IP a Lang with full marks, and launched the surrounding a Lang blind box. Yogurt brand yeyogurt cooperates with yoga pants brand Maia active to strengthen its own health label. Coco coco and Lancome jointly launched Shuiguang Bobo electric coconut water.
In addition to products, channels and marketing, the new brand is also actively laying out its supply chain, and a stable supply chain has become the backing for serving b-end customers and overweight C-end market. Fino has long supplied many new tea brands such as Ruixing and Naixue, relying on its 38000 Mu coconut forest in Thailand, Vietnam and Hainan. Yeman has signed China’s exclusive general agency agreement with three coconut factories in Southeast Asia. At present, it has also begun to supply coconut raw materials for Godiva, aunt Hushang, Xicha, seesaw and other brands. Coco coco has nearly 8000 mu of coconut forest in Southeast Asia. Cocoa has a raw material factory in Hainan and its own coconut forest in Indonesia.
Behind the upstream supply chain of coconut products brands, the biggest problem of this track – raw materials.
China is not a big coconut growing country. Hainan, the only major coconut producing area in China, contributes more than 99% of the national output, but the annual output is less than 250 million, less than 1 / 10 of the market demand. Not only that, the total national coconut production also declined after reaching its peak in 2013. This makes nearly 90% of China’s coconuts dependent on imports, and imports more than 2 billion coconuts from Southeast Asian countries every year.
Moreover, the growth cycle of coconut is relatively long. It generally takes 5 to 6 years for a coconut tree to grow from seedling to fruit, which makes the market unable to quickly digest the influx of coconut demand. According to new Hainan, under the coconut products boom this year, the wholesale price of a single coconut in Hainan has risen from 6 yuan during the Spring Festival last year to 8 yuan, the retail price has exceeded 9 yuan, and the scenic spot has sold more than a dozen yuan each.
Facing this “neck sticking” problem, taking time to smooth out the supply chain will be an important lesson for the new brand of coconut products. A complete supply chain can not only ensure sufficient supply, but also ensure high quality supply. For example, fino selects coconuts with a 28 day golden harvest period.
For the new brand of coconut products, challenges and opportunities coexist. Before this year, there were many players involved in coconut products, trying to make Chinese people love eating coconut meat and drinking coconut milk, such as Coconut Chicken hotpot and coconut dessert, but they had little effect. Sijiyelin, the largest chain Coconut Chicken hot-pot/" 22375 rel="nofollow" target="_self">hot pot brand in China, currently has no more than 40 stores, of which 38 are distributed in Shenzhen, with obvious regionality. Even compared with Banu, the leader of Maodu hot-pot/" 22375 rel="nofollow" target="_self">hot pot, the number of stores is far less than the latter. Allyeh Aoye, a coconut catering brand established in 2017, focuses on coconut dessert. At present, the company has been cancelled and the only store in public comments has been suspended. Not to mention the countless big brands that tested coconut water and achieved little results, Wang Laoji coconut water and Wahaha coconut water failed to open the market.
The upsurge of “everything can be coconut” provides an excellent breakthrough for the new brand of coconut products, but how it has gone since then, the brand still needs time and market test.
Author: Xiong Yi; Editor: Zhong Rui; Source: consumption news (ID: chaomoods), reprint has been authorized. Reprint authorization and media business cooperation: Amy (wechat: 13701559246);
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