Global Sparkling Water Markets, 2021-2028 - Opportunities in Surge in At-Home Consumption - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Sparkling Water Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Category (Plain, Flavoured); Packaging Type (Bottles, Cans), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others)" report has been added to ResearchAndMarkets.com's offering.

The global sparkling water market is expected to grow from US$ 23,271 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.

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 market players including added flavors are further boosting the market growth.

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.

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. Hydration has become a crucial issue in the beverage business resulting in an increase in demand for bottled water, coconut water, and functional beverages.

Soft drink companies have responded to this trend by releasing sports drinks and functional bottled water that are all focused on hydration. With the growing consumption of packaged food & beverages in the region, sparkling water market in Asia Pacific is expected to witness significant growth over the forecast period.

A few of the major key players operating in the global 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.

Key Market Dynamics

Market Drivers

• Health Benefits Associated with Sparkling Water
• Increasing Number of New Product Launches

Market Restraints

• High Cost and Malpractices Associated with Sparkling Water

Market Opportunities

• Surge in At-Home Consumption

Future Trends

• Popularity of Sparkling Water Among Millennials

Company Profiles

• PepsiCo
• Nestle
• A.G. Barr
• Crystal Geyser Water Company
• Talking Rain
• National Beverage Corp
• Asahi Group Holdings, Ltd.
• LIMITLESS
• The Coca-Cola Company

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