Axelum Resources Corp. (PSE: AXLM), the country’s leading fully-integrated manufacturer and exporter of premium coconut products, signed today a multi-year deal with The Vita Coco Company, Inc. (“Vita Coco”), one of the world’s largest coconut water brands. 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 US$ 6.57 billion in 2022, and is poised to grow from US$ 7.63 billion in 2023 to US$ 25.18 billion by 2031, at a compounded annual growth rate of 16.1 percent 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 of the nutritional benefits of coconut water.

In 2009, Axelum became the first supplier to Vita Coco outside Brazil. Axelum operates a state-of-the-art ultra-high temperature processing facility, skillfully manned by dedicated personnel, to produce some of Vita Coco’s best-selling products – Original Coconut Water, Farmers Organic and Pressed Coconut Water. Recently, Axelum commissioned a new filling machine to augment its existing production output to meet the increasing volume requirements of Vita Coco in the long-term.

“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,” stated Mr. Romeo I. Chan, Chairman and Chief Executive Officer of Axelum Resources Corp.

“Axelum has been an integral part of our growth story. Throughout the years, they have proven to be a reliable partner that has consistently ranked amongst our top suppliers in terms of quality and service. With this new deal, we are excited to continue our relationship and look forward to driving exponential growth for many years to come,” said Mr. Michael Kirban, Co-Founder and Executive Chairman of The Vita Coco Company, Inc.

About Axelum Resources Corp.

Axelum Resources Corp., is the leading fully-integrated manufacturer and exporter of premium coconut products in the Philippines, catering to top-tier multinational consumer brands in over 25 markets across North America, Australia, Europe, South America, Middle East and Asia.

About The Vita Coco Company

The Vita Coco Company is a family of brands on a mission to reimagine what’s possible when brands deliver healthy, nutritious, and great-tasting products that are better for consumers and better the world. This includes its flagship coconut water brand, Vita Coco, sustainably packaged water Ever & Ever, and protein-infused water PWR LIFT. The Company was co-founded in 2004 by Michael Kirban and Ira Liran and is a public benefit corporation and Certified B Corporation. Vita Coco, the principal brand within the Company’s portfolio, is the leading coconut water brand in the U.S. With electrolytes, nutrients, and vitamins, coconut water has become a top beverage choice among consumers after a workout, in smoothies, as a cocktail mixer, after a night out, and more. For digital media assets, see here, and for more information, please visit vitacoco.com.