PepsiCo spent $200M to acquire one of the major kombucha startups, KeVita, in November 2016.
Coconut water, which saw an investment/acquisition boom in 2013-2014, may be maturing and consolidating while new beverage trends like kombucha and matcha tea start to gain momentum.
On Monday, one of the bigger coconut water brands, Coco Libre (by company Maverick Brands) was acquired by functional beverage company New Age Beverages Corporation (NASDAQ: NBEV), leaving Vita Coco (by company All Market) as the main remaining large private player.
While coconut water players are consolidating, kombucha startups are gaining attention. PepsiCo spent $200M to acquire one of the major kombucha startups, KeVita, in November 2016, but there are still plenty of relatively early-stage startups moving in and attracting funding, such as Health-Ade Kombucha, Humm Kombucha, and Revive Brands. These companies are taking advantage of an overall trend in the CPG space toward foods and drinks with beneficial ingredients, such as probiotics in kombucha’s case. See kombucha investment deals here.