Axelum Resources Corp., the country’s leading fully-integrated manufacturer and exporter of premium coconut products, said Thursday it signed a multi-year deal with The Vita Coco Company, Inc., one of the world’s largest coconut water brands.
Financial and other details of the supply contract weren’t made immediately available.
Axelum said the Vita Coco’s contract renewal continues a strategic alliance of two industry leaders, who are well 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 is poised to grow from USD7.63 billion in 2023 to USD25.18 billion by 2031 on the back of a rapidly-growing health-conscious population.
Axelum in 2009 became the first supplier of Vita Coco not located in Brazil.
“We are proud to be associated with an iconic better-for-you beverage brand, who shares our passion for delivering high-quality and better-tasting coconut water products to the international mainstream market. Our longstanding partnership is the epitome of technology and innovation, transforming a tropical fruit derivative into a high-demand global consumer product. For Axelum, this will only further strengthen one of our fastest-growing segments,” said Romeo Chan, chairman and chief executive officer of Axelum.
