Plant-based Waters Market Outlook 2018-2024 | Top Players - PepsiCo, Harmless Harvest, The Coca-Cola Company, Steaz - The Healthy Beverage Company
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1. PepsiCo Inc.
2. CALIWATER Cactus Water
3. Happy Tree
4. Sibberi Tree Water
7. Harmless Harvest
8. The Coca-Cola Company
9. World Waters
10. ARTY Water Company
12. All Market In
13. Oviva Maple Water Company
Trend of healthy hydration has gained momentum over the past few years. The nutritive contents of the alternative waters will broaden the prospects of the product market in future. Attractive packaging by manufacturers is also one of the major factors contributing to the popularity of the product. The manufacturers have leveraged the innovative technology and are continuously developing striking packaging solutions. The growing packaging industry will leave a positive impact on the product market as there are frequent innovations in this industry to preserve the waters for an extended period.
Sedentary lifestyles and the rising appetite for natural and healthy drinks are the key factors spearheading the growth of plant-based waters market over the forecast timespan. The rising health issues due to the consumption of carbonated drinks have accelerated the growth of the market. Problems associated with the intake of carbonated drinks include heart diseases, obesity, diabetes, cancer, digestion issues, tooth decay, etc. The product is an alternative to artificially sweetened beverages which will upscale the demand for the product between 2017 and 2024.
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The market is experiencing increased sales of alternative waters such as cactus water, bamboo water, olive water, etc. Maple water and birch water are the new buzzwords in the beverage market. Maple water is projected to cross a revenue of USD 0.9 billion by 2024 and its market will continue to expand at a robust rate. Bottles constitute a significant part of packaging of plant-based waters and are expected to rise with a CAGR of 20.2 %.
The factor which can hinder the market growth is the short consumption duration after opening of the packed product. Every product has different life span for which it can be consumed. The alternative waters require cold chains to refrigerate them so that their shelf life can be extended. Also, the lack of awareness among the consumers of the latest trends in beverage industry can impede the growth of the market.
Cafes & fitness centers have become increasingly popular in today’s era, which will drive the market for the product. The rising obese population in North America will bring profit to the manufacturers of the product due to the increased sales. There is an enormous potential to tap the coconut water market in Middle East and Africa, but the price and sourcing can obstruct the market in the region.
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