Plant Based Waters Market share research by applications and regions from 2016 to 2024
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1. Harmless Harvest
3. The Coca-Cola Company
5. CALIWATER Cactus Water
6. Sibberi Tree Water
7. Drink Simple
8. Steaz - The Healthy Beverage Company
9. Happy Tree
11. World Waters
12. ARTY Water Company
13. All Market In
Browse key industry insights spread across 225 pages with 256 market data tables & 12 figures & charts from the report, “Plant-based Waters Market Size By Product (Coconut Water, Maple Water, Birch Water, Artichoke Water, Cactus Water), By Flavor Variant (Flavored, Original), By Pack Type (Cans, Bottles, Cartons, Pouches), By Distribution Channel (Online, Retail Stores, Cafes & Fitness Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017–2024” in detail along with the table of contents:
Global plant-based waters industry has been witnessing an appreciable growth across the Asia Pacific region, particularly due to the increased availability of coconut plantations in countries such as India. The region is anticipated to be a lucrative business ground for market players as there is a tremendous untapped potential across the continent for branded & packaged coconut water, in addition to other plant-based drinks. For instance, the year 2015 witnessed Vita Coco, one the world’s top coconut brands, penetrate the plant-based waters industry in Asia Pacific, by establishing its brand value across China, South Korea, Japan, Philippines, and Singapore. In addition, the company had then outlined plans to enter the business across five other geographies, including Malaysia, Australia, Brunei, New Zealand, and Maldives. As on today, Vita Coco, with its plethora of well-commercialized coconut water products, holds a healthy share of APAC plant-based waters market.
A major factor that is likely to expand the business scope of plant-based waters industry is the mode of distribution. The advent of digitization has mobilized businesses, and every product and service-based firm now has a major share in the online space. On these grounds, it would not be incorrect to presume that online channels will play a vital role in commercializing plant-based waters industry. Hectic consumer lifestyles and easy product availability will be the key factors driving plant-based waters market via online distribution channels. Companies have the opportunity to promote a wide range of their products on online platforms, which will further stimulate the expansion of this segment.
While online portals will gain momentum at a brisk pace, brick-and-mortar stores will continue to garner popularity, owing to the broad product portfolio and a loyal consumer base. Estimates state that plant-based waters industry size from retail stores is expected to witness a growth rate of 23% over 2017-2024. The robust growth of this segment may also be attributed to the fact that consumers get to actually see and feel the product, and this physical proximity makes a marked difference in product sales. On these grounds, companies have also been concentrating on the packaging of the product. Shifting consumer inclination toward organic and aesthetic packaging has led to the development of numerous packaging options, such as bottles, pouches, cartons, and cans. In addition, manufacturers have detected that innovative packaging helps extends the shelf life of these products and further aids the producers to manufacture low-calories and healthy drinks, which has led to the expansion of plant-based waters market from the packaging type.
The vast expanse of birch and maple trees across European regions such as UK, Germany, and France will also augment plant-based waters industry from birch. Despite coconut water being one of the largest revenue generating segments of plant-based waters market, other products, such as cactus water and artichoke water have also been gaining a significant momentum. Other plant waters include ginger water, rose water, bamboo water, and barley water.
This industry is rather fragmented and involves the presence of domestic players such as PepsiCo Inc., The Coca-Cola Company, Happy Tree Group, Steaz, DRINKmaple, Harmless Harvest, Oviva Maple Water Company, Caliwater LLC, World Waters, ARTY Water Company, All Market Inc, Sibberi, and DrinkSEVA. The emerging economies are forecast to develop extensively over the years ahead, owing to which companies at the global level have been eyeing the developing countries to explore the untapped potential. Major corporations have been signing agreements with online retailers like Amazon in order to expand their sale via online distribution channels.
Global plant-based waters market encompasses original and flavored waters. Leading market players have also been striving to develop unique water flavors to broaden the product portfolio. The latest trend in plant-based waters market is that of blending ginger, green tea, and rose flavors. The segment is slated to experience massive growth based on changing consumer tastes.
Customers have now become increasingly health-conscious, which is one of the major drivers of plant-based waters industry. In order to retain a loyal consumer base, it is essential that these plant beverages contain organic, natural, and low-calorie ingredients. It is quite perceivable that the dearth of recorded health benefit claims and sustainability issues would act as major hindrances for the growth of plant-based waters market. However, incessant efforts are being undertaken by companies to minimize the restraints as far as possible, in order to carve out a positive growth path for this industry over the years ahead.
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