Asia-Pacific and RoW) - Global Forecast till 2023
Sparkling Water has a rich content of minerals like magnesium, potassium, and sodium and the water’s bubbles are natural or artificially added, along with various flavor options, no added sugar or chemical additives such as taste enhancers.
According to a detailed report of Market Research Future (MRFR), the global sparkling water market has been assessed to grow significantly at a substantial CAGR over the forecast period. The sparkling water market is the fastest growing segment of the carbonated water market, owing to the consumer shift towards healthy, organic commercial products of foods and beverage. It has been medically studied that sugary drinks such as club soda increase the risk of heart disorders, diabetes, and other severe chronic health conditions, which is encouraging consumers to opt for a healthier substitute, that is, sugar-free, mineral-rich sparkling water. Other factors, such as the availability of different flavors like apple, lemon, mixed berry, orange, and others, are contributing to the higher demand. Furthermore, efforts by market players towards product innovation, proper packaging, and efficient product marketing are contributing to the growth of the global sparkling water market.
The key players in the Global Sparkling Water Market Analysis are A.G. BARR p.l.c. (UK), Cott Corporation (Canada), Crystal Geyser Water Company (U.S.), Dr. Pepper Snapple Group (U.S.), Mountain Valley Spring Company, LLC (U.S.), PepsiCo, Inc. (U.S.), The Coca-Cola Company (US), Gerolsteiner Brunnen GmbH & Co. KG (Germany), Reignwood Group (China), Nestle S.A. (Switzerland), and Tempo Beverage Ltd (Israel).
The global market for sparkling water has been segmented on the basis of category, packaging type, distribution channel, and region.
Based on the category, the global sparkling water market has been classified as plain, and flavored. Among these, the plain sparkling water is expected to dominate the market while the flavored sparkling water segment is predicted to grow as the fastest growing segment through the forecast period, owing to the higher demand for flavored sparkling water in developing countries of the Asia Pacific and Latin America such as China, India, and Brazil.
Based on packaging type, the market has been segmented into bottles, cans, and others. The cans segment is expected to dominate the market share over the forecast period, owing to its favorable properties such as ease of consumption, and high durability, among others.
Based on the distribution channel, the market has also been segmented into store-based, and non-store based. The store-based distribution channel segment has been sub-segmented into convenience stores, supermarkets & hypermarkets, and others. Among these, the store-based distribution channel segment is expected to dominate the market share, owing to its favorable factors such as product availability, one-stop shopping, and consumer preference towards the store-based channel. Additionally, the non-store based distribution channel is expected to grow at a substantial growth rate over the forecast period.
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Global Sparkling Water Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is projected to dominate the market for sparkling water through the forecast period, owing to the high consumer demand for healthy and natural beverages.
North America is expected to witness steady revenue growth in the sparkling water market, owing to the stable economy, increasing lifestyle standards of consumers, and the presence of a higher number of bars, cafes, and lounges are the key factors driving the market in this region.
Asia-Pacific is assessed as the fastest growing region for the global sparkling water market, owing to the growing awareness about the benefits of sparkling water. Additionally, developing countries such as India and China have witnessed a growth in the working population with a rise in disposable incomes. Thus there is a higher demand for healthy foods and beverages. Furthermore, the Asia-Pacific region has a comparatively higher number of mountain springs through which natural sparkling water which is rich in minerals can be extracted.
Latin America and the Middle East and Africa are projected to witness moderate growth over the forecast period.
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