Sparkling Water Industry

The global sparkling water market has experienced significant growth, with its size valued at USD 29.71 billion in 2020. This market is projected to continue expanding at a robust compound annual growth rate (CAGR) of 12.6% from 2021 to 2028. A notable factor contributing to this growth is the increasing trend of adopting healthier lifestyles among individuals across various age groups. As people become more health-conscious, there has been a marked shift toward consuming healthier and more innovative beverage options, including sparkling water. This shift is further fueled by a growing consumer preference for sparkling water as a substitute for sodas and other sugary carbonated beverages, indicating a substantial change in drinking habits that is expected to drive the market forward throughout the forecast period.

The COVID-19 pandemic initially disrupted the sparkling water market, as the closure of public spaces and offices led to a significant decline in commercial demand. However, the subsequent enforcement of widespread home isolation orders resulted in an unexpected increase in demand for bottled water, including sparkling water, among households worldwide. This shift in consumption patterns prompted bottled water companies to enhance their production capacities to meet the burgeoning demand, which has positively impacted the sparkling water market.

As consumers increasingly recognize the importance of maintaining a healthy lifestyle, sparkling water has gained popularity due to its mineral content, which includes essential minerals such as sodium, magnesium, and calcium. These minerals not only contribute to the nutritional value of sparkling water but also offer several health benefits. For instance, sparkling water is known to aid digestion and may help alleviate constipation, making it a desirable choice for health-conscious individuals.

Additionally, research has indicated that sparkling water is not as detrimental to dental and bone health as traditional sodas. This has led many consumers to view carbonated water as a healthier alternative to both soda and sugary carbonated drinks. The perception of sparkling water as a safer and more health-conscious beverage choice is gaining traction, further driving its market growth.

Over the past few years, the increase in commercial advertising for bottled water has also played a crucial role in enhancing brand visibility within the sparkling water market. These advertisements often emphasize the product's quality, hydration benefits, and unique taste, as well as its convenience for consumers. By effectively communicating these advantages, brands are successfully attracting more customers and encouraging them to switch from sugary drinks to sparkling water, thereby solidifying its position as a preferred beverage choice in the health-focused market landscape.

Gather more insights about the market drivers, restrains and growth of the Sparkling Water Market

Product Insights

• Market Share of Natural/Mineral Sparkling Water: In 2020, natural or mineral sparkling water dominated the market, holding over 60.0% of the total share. This substantial market presence can be attributed to the increasing consumer preference for natural and healthy hydration options, which align with the growing trend of health-conscious living.
• Rising Popularity of Flavored Variants: The segment is further bolstered by the growing popularity of flavored sparkling water. Consumers are increasingly choosing flavored variants due to their appealing taste, refreshing qualities, and perceived health benefits. This shift towards flavored options indicates a strong market trend where consumers are seeking more enjoyable and health-oriented beverage alternatives.
• Innovative Product Launches by Key Players: To cater to the demands of health-conscious consumers, key players in the sparkling water market are actively launching new products. For example, in May 2019, National Beverage Corp. introduced a new flavor, Hi-Biscus!, under its popular LaCroix brand. This innovative sparkling beverage is noteworthy for its health profile, containing no carbohydrates, sweeteners, or sodium, while offering a unique flavor derived from the hibiscus flower.
• Caffeinated Sparkling Water Segment: The caffeinated sparkling water segment is expected to experience significant growth, with a projected compound annual growth rate (CAGR) of 12.6% from 2021 to 2028. This category appeals to consumers looking for calorie- and sugar-free beverages that provide an added boost of energy through caffeine. Caffeinated sparkling water serves as an attractive alternative to traditional coffee drinks, sweetened teas, and conventional energy drinks.
• Consumer Demand for Added Benefits: As more consumers seek beverages with additional health benefits, manufacturers are responding by developing new variants of sparkling water infused with caffeine. This trend reflects a broader movement towards functional beverages that support energy levels while maintaining a health-focused profile.
• Flavored Caffeinated Sparkling Water: Within the caffeinated segment, flavored caffeinated sparkling water captured a significant market share of 85.4% in 2020. The growth of this particular segment can be attributed to rising consumer interest in diverse flavors, including berry, orange, cucumber, and lemon. These flavor options not only enhance the drinking experience but also cater to the demand for variety among health-conscious consumers.

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