Projected to experience a Compound Annual Growth Rate (CAGR) of 7.5%, the global demand for sparkling bottled water is anticipated to surge. By 2023, market revenue is expected to hit US$ 45.4 billion, with projections indicating a further increase to US$ 93.6 billion by 2033.
The trend in the sparkling water market is slowly overshadowing that of soft drinks, attributed to its low sugar and calorie content. Positioned as a unique bottled water beverage, it continues to attract customers. The proactive approach of leading companies in promoting and selling their products as health beverages to expand their health-conscious customer base bodes well for the growth of the sparkling water market.
The customer prefers sparkling water as it is rich in such minerals as sodium, magnesium, and calcium, which is essential for the healthy way of life, and this prompts them to choose sparkling water. What is more, fiber tend to be rich of benefits such as digestive enhancement and possibly constipation treatment.
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Several studies have found that sparkling water is not as bad for your teeth and bones as soda. As a result, consumers may regard carbonated water as a healthy alternative to soda and other carbonated drinks. Furthermore, a surge in the quantity of commercials for sparkling bottled water has played an essential part in increasing brand visibility in recent years. These advertisements emphasize the product’s quality and hydration advantages, as well as its taste and ease.
According to the World Health Organization (WHO), diabetes was the direct cause of about 1.5 million deaths. Additionally, according to WHO data, 39 million children under the age of five were overweight or obese in 2020. The rising number of diabetic and obese patients, as well as rising levels of pollution in drinking water, are driving the expansion of the sparkling bottled water industry. Furthermore, the growing awareness of the health risks associated with soft drink use is fueling the expansion of the sparkling bottled water market size.
The expansion of the sparkling bottled water market is being driven by technological and product improvements. Nestlé unveiled mock-ups for its Perrier® water bottles based on a unique recycling technique in June 2021. The bottles were produced as part of the Carbios global partnership to support the automation of a cutting-edge technology. It enables plastic to be recycled repeatedly, while retaining characteristics almost identical to virgin plastics.
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The addition of diverse tastes to the product increases demand among youngsters, giving the market appeal. An increase in alcohol consumption is also a key factor driving the expansion of the sparkling bottled water market. This is owing to the fact that some consumers choose to use sparkling water as a cocktail mixer for their liquors.
However, the lack of consumer awareness in many locations, as well as the absence of distribution channels, may impede the growth of the sparkling bottled water market. Moreover, bottled water costs between 250 and 10,000 times more than tap water, depending on the region. Many governments encourage people to drink tap water, which is less expensive than bottled water, which might be sparkling or carbonated. This is anticipated to significantly weaker demand for sparkling bottled water.
Key Takeaways:
- Throughout the forecast period, the United States is likely to be a significant sparkling bottled water market. Sparkling-flavored bottled water is now a far larger and more active segment in the United States than still-flavored bottled water. Almost all key manufacturers have sold a flavored “seltzer” SKU that has no sugars and is low/no calorie with natural flavors.
- The United Kingdom is expected to dominate the global sparkling bottled water market in Europe throughout the forecast period.
- Owing to the customers’ increased preference for natural and nutritious water, the “unflavored” product type is expected to hold the maximum revenue through the forecast period.
- As the availability of both premium and private label brands at these outlets entices customers, the “hypermarkets/supermarkets” distribution channel type is the most creative segment for key companies, accounting for a sizable portion.
Competitive Landscape:
Given the existence of both international and domestic competitors, the global sparkling bottled water market share is fragmented. Several companies have a significant position in their respective industries. Large firms usually respect organic developments, such as product approvals, and the rising trend of all age groups to lead a healthy lifestyle. As a result of these reasons, the global sparkling bottled water market is anticipated to advance rapidly.
Key Players:
- Nestlé
- PepsiCo Inc.
- National Beverage Corp.
- Keurig Dr Pepper Inc.
- The Coca-Cola Company
- Danone S.A.
- SANPELLEGRINO S.p.A
- Hiball
- AQUA Carpatica
- Volay Brands LLC
- Big Watt Cold Beverage Co.
Recent Developments:
- In January 2020, Limitless, a caffeinated sparkling water firm established in the United States, was bought by Keurig Dr Pepper Inc. This acquisition broadened Keurig Dr Pepper’s water offering and allowed the business to join the caffeinated sparkling water industry.
- In March 2020, Caribou Coffee introduced a new range of cool Caribou BOUsted Caffeinated Beverages. Caribou BOUsted is a wonderful range of sparkling and blended caffeinated water and juice offered in a variety of fruit flavors across the United States.
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Key Segments Profiled in the Sparkling Bottled Water Market Survey
By Product Type:
- Flavored
- Unflavored
- Others
By Distribution Channel:
- Hypermarket/Supermarket
- Convenience Stores
- Independent Grocery Stores
- Specialty Stores
- Online Retail
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
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