At 11.7% of CAGR Sparkling Water Market Share will increase and aimed to cross US$ 55,298.58 billion in 2028

The sparkling water market is expected to grow from US$ 23,271.30 million in 2021 to US$ 55,298.58 billion by 2028; it is estimated to grow at a CAGR of 11.7% from 2021 to 2028.

A few players operating in the sparkling water market are PepsiCo, A.G. Barr, Crystal Geyser Water Company, Talking Rain, National Beverage Corp, Asahi Group Holdings, Ltd., Dr Pepper Snapple Group, LIMITLESS, and The Coca-Cola Company. The key companies adopt strategies such as the mergers and acquisitions, and research and development to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

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The demand from sparkling water is significantly increasing owing to health benefits associated with it such as weight management, improves digestion, and provides superior hydration. Health-conscious consumers are more inclined towards sugar-free alternatives for sodas and juices which is driving the global sparkling water market. The new product launches by the sparkling water market players including added flavors are further boosting the market growth.

The sparkling water market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Many Asia-Pacific countries, such as China and India, are among the world's fastest-growing populations. The packaging industry is expanding in the region because of its wide range of applications. The existence of various established sectors such as food & beverage, in nations such as China, India, Japan, and South Korea has increased the demand for packaging solutions in the region. The surging consumption of processed food and rising technologies for packaging drive the growth of the sparkling water market. Consumers are becoming more health-conscious and looking for healthy products.

Market Insights

Health Benefits Associated with Sparkling Water

With the growing trend of adopting a healthy lifestyle among all age groups, consumers are progressively switching to healthy and innovative drinks, including sparkling water, especially as an alternative to sodas and sugary carbonated beverages. According to Nestlé, a Switzerland-based food and beverages company, ~64% of the consumers prefer functional beverages with no added calories. In addition, most young age consumers are increasingly opting for sparkling water over plain water, mainly, due to preference for flavors. Further, soft drinks contribute to rise in the incidence of diseases such as hypertension and diabetes, and awareness regarding the same is further driving consumer inclination toward sugar-free drinks, including flavored bottled water or sparkling bottled water.

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Category Insights
Based on category insight, the sparkling water market is segmented into plain and flavoured. The flavoured segment accounted for the largest market share in 2020. The flavoured segment includes sparkling water with added flavours. Flavoured sparkling water is gaining adoption as majority of consumers are exploring their taste profiles. The major flavours consumed globally are lime, grapefruit, cranberry, orange, and others. The millennial and Gen Z population prefer dynamic, bold, and engaging flavour profiles. Flavoured sparkling water brings a sense of personalization amongst the Gen Z and millennials, enabling them to relate their personality to a particular flavour or mixed flavour profile. Thus, market players are focusing on introducing innovative flavour profiles to attract a larger customer base. Owing to which, this segment is expected to witness growth during the coming years.

Sparkling Water Market - by Category
• Plain
• Flavoured

Sparkling Water Market - by Packaging
• Bottles
• Cans

Sparkling Water Market - by Packaging
• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

Report Spotlights:

1. Progressive industry trends in the sparkling water market to help players develop effective long-term strategies
2. Business growth strategies adopted by developed and developing markets
3. Quantitative analysis of the sparkling water market from 2018 to 2028
4. Estimation of global demand for sparkling water
5. PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
6. Recent developments to understand the competitive market scenario
7. Market trends and outlook as well as factors driving and restraining the growth of the sparkling water market
8. Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
9. The size of the sparkling water market size at various nodes
10. Detailed overview and segmentation of the market, as well as the sparkling water industry dynamics

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This release was published on openPR.