The global sparkling water market size was valued at USD 34.33 billion in 2022. The market is projected to grow from USD 38.13 billion in 2023 to USD 85.69 billion by 2030, exhibiting a CAGR of 12.26% during the forecast period.
Different factors such as consumer preferences, healthy beverage demand, and rising health-conscious consumers worldwide are driving the sparkling water market growth during the forecast period. The market is competitive due to the increasing popularity of the product with many companies entering the market.
Fortune Business Insights™ mentioned this in a report titled “Sparkling Water Market, 2023-2030.”
List of Key Players Present in the Report:
- Nestlé S.A. (Switzerland)
- PepsiCo, Inc. (U.S.)
- Keurig Dr. Pepper Inc. (U.S.)
- The Coca-Cola Company (U.S.)
- Sanpellegrino S.P.A. (Italy)
- WakeWater Beverage Co. (Canada)
- National Beverage Corp. (U.S.)
- Big Watt Cold Beverage Co. (U.S.)
- Danone S.A. (France)
- Volay Brands (U.S.)
Browse Link :
https://www.fortunebusinessinsights.com/sparkling-water-market-107878
Segments-
Easy Availability and Health Benefits of Natural/Mineral Carbonated Water to Drive Market Growth
By type, the market is divided into natural/mineral and caffeinated. The natural/mineral segment will dominate and hold a significant market share during the forecast period. Rising demand by health-conscious consumers is driving the market growth.
Lightweight and Easy Transportation of Cans to Propel Market Growth
Based on packaging, the market is classified into glass bottles, cans, and plastic bottles. The cans segment will dominate the market during the forecast period due to its lightweight and easy-to-transport properties. Several key players offer various flavored and unflavored sparkling water in cans.
Hypermarket/Supermarket to Dominate due to Wide Availability of Premium and Private Label Brands
The market is segmented by distribution channel into hypermarket/supermarket, convenience store, online channel, and others. The hypermarket/supermarket segment will hold the largest market share during the forecast period. Hypermarket/supermarket offers competitive promotions and pricing, driving the demand for the product worldwide.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage-
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints-
Rising Demand for Fortified Beverage to Propel Market Growth
The rising demand from health-conscious consumers for fortified beverages, such as vitamin-enriched waters, protein shakes, nootropics, and other fortified drinks, is driving the market during the forecast. In February 2023, Kyowa Hakko U.S.A., Inc. and CENTR Brands Corp. launched sparkling water containing adaptogenic and nootropic ingredients.
The low prices of regular water and carbonated drinks are expected to affect the expansion of the sparkling water market share during the forecast period.
Regional Insights-
Growing Demand for Flavored Sparkling Water to Aid Market Growth
Europe dominated the market and will hold a significant market share during the forecast period. The rising demand for flavored carbonated water in Italy, the U.K., Spain, the Netherlands, and France drives the sparkling water market growth in Europe.
The North America market is expected to grow significantly over 20230-2030. The presence of established brands and new companies entering the market are driving the market growth in the region.
Competitive Landscape-
Innovative Product Launches by Key Companies to Drive Market Growth
Major companies are focusing on innovative product launches, expansions, and acquisitions to capitalize on the market growth during the forecast period. In May 2021, PepsiCo Inc. launched Soulboost, a range of beverages, including functional and natural juice ingredients. The R&D team of PepsiCo Inc. developed functional ingredients, such as Panax ginseng and L-theanine, adding them to the new beverage line to address increasing consumer health trends.
Key Industry Development
February 2022 – Golden Grail Technology, a fast-growing beverage company, acquired a premium sparkling water company Tickle Water to expand its beverage portfolio worldwide. Gold Grail Technology actively acquired companies within beverage categories such as sparkling waters, energy drinks, and flavored water.
