Market Overview:
According to the DataM market research report, the Global Sparkling Water Market size reached US$ 32,583 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 72,425 million by 2030. The market is expected to exhibit a CAGR of 10.5% during the forecast period (2023-2030). The increasing awareness about sparkling water in its role in improving digestion is expected to propel its consumption.
The global sparkling water market is segmented on the basis of product, category, distribution channel, and region. North America held the largest market share. Increasing consumer preference for healthier alternatives to sweetened carbonated beverages is the segment’s primary driver. Major players in the market include Reignwood Investments U.K. Ltd., PepsiCo., Nestlé, A.G., The Coca-Cola Company, CG Roxane, LLC, Tempo Beverage Ltd, Keurig Dr. Pepper Inc., Seven Up, Inc., Ferrarelle, and Sanpellegrino S.p.A.
The millennial and Gen Z population makes up the majority of today’s consumers of sparkling water. With their evident dominance in the marketplace, their preferences have largely influenced the broader direction of countless consumer-driven industries, particularly the food service sector. The current generation is increasingly health-conscious and opting for foods & beverages with nutritional benefits and lower sugar content. Thus, they are increasingly opting for natural sparkling water due to its several health benefits.
Market Drivers:
The popularity of sparkling water is on the rise as more consumers are choosing it over sugary soda and other fizzy drinks. Maintaining proper hydration is crucial for one’s well-being, and opting for sparkling water is an excellent method to achieve it without taking in sugar or calories that might result in dental problems and other health concerns.
Additionally, drinking carbonated water can help with digestion, particularly for those who suffer from constipation, and can reduce symptoms of indigestion such as stomach pain. Studies indicate that drinking sparkling water can enhance heart health by boosting the levels of good HDL cholesterol while reducing bad LDL cholesterol, inflammation, and blood sugar. With its various flavors, sparkling water is a healthier substitute for sugary soda water.
The trend towards healthier lifestyles is also contributing to the growth of the sparkling water market as more people are choosing healthier beverage options.
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Market Restraints:
Drinking sparkling water may cause stomach problems, which are the most common side effects. The gas, Carbon Dioxide (CO2), present in sparkling water creates bubbles that lead to bloating, burping, and other gas-related symptoms that can be painful and uncomfortable. In addition, some sparkling water brands contain artificial sweeteners like sucralose. The acidity of sparkling water can also destroy teeth or damage bones since sparkling water produces carbonic acid.
Market Opportunities:
The sparkling water market is still emerging in many regions, presenting opportunities for expansion. Developing countries with a rising middle class, such as India, China, and Brazil, are witnessing a growing demand for premium and healthier beverages. Companies can enter these markets and introduce sparkling water as an alternative to sugary drinks, leveraging the changing consumer preferences.
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COVID-19 Impact Analysis:
In the first few months of the Covid-19 pandemic, numerous public places and offices were closed, resulting in a notable decrease in the commercial demand for sparkling water. Nevertheless, the imposition of home isolation orders worldwide has prompted households to seek different types of bottled water, including sparkling water, leading to an increase in demand. As per the International Bottled Water Association (IBWA), the bottled water industry has responded to this upsurge in demand by expanding its production capacity, which has ultimately contributed to the growth of the market.
Recent Developments in the Industry:
- On May 5, 2021, PepsiCo. launched Soulboost, an improved sparkling water beverage produced with actual juice and useful additives. There are two flavors of the beverage: Black Cherry Citrus, and Blueberry Pomegranate, both of them contain 200 milligrams of Panax ginseng to support mental health.
- On May 12, 2022, Dash Water, a UK-based company, added a brand-new mango flavor to its lineup of fruit- and vegetable-infused sparkling waters for the summer. The newest product has no sugar, no artificial sweeteners, and no calories.
- On February 8, 2021, the Bubly water brand from PepsiCo announced the introduction of Bubly Bounce, a new caffeinated sparkling water beverage. The first five combo flavors of Bubly Bounce sparkling water will be offered: blueberry pomegranate, blood orange grapefruit, triple berry, citrus cherry, and mango passion fruit.
Market Segmentation:
As per the research analysis, the global sparkling water market is segmented by product into mineral water, purified water, spring water, sparkling water, and others; by category into unflavored, flavored; by packaging type into bottles, cans, and others; by distribution channel into offline, and online.
- Based on product, in 2022, the mineral segment had the largest market share of over 62% due to the increasing consumer demand for healthy and natural water. Flavored variants are also becoming more popular due to their taste, effervescence, and perceived health benefits. Market leaders are introducing new products to meet the demands of health-conscious consumers.
For example, in May 2019, National Beverage Corp. launched a new flavor, Hibiscus, under its LaCroix brand. This sparkling beverage contains no carbohydrates, sweeteners, or sodium and features a unique flavor from the hibiscus flower.
Geographical Analysis:
The global sparkling water market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
North America Sparkling Water Market:
North America held the largest market share in 2022, at over 37%. Increasing consumer preference for healthier alternatives to sweetened carbonated beverages is the segment’s primary driver. Due to its perceived health benefits, such as enhanced digestion, bone, and cardiac health, and increased water consumption, sparkling water is acquiring popularity among health-conscious consumers. In addition, the product’s accessibility through numerous channels of distribution is anticipated to contribute to the expansion of this market segment.
Europe Sparkling Water Market:
In 2022, Europe accounted for a significant market share. The demand for sparkling water in countries such as Germany, the U.K., Italy, Spain, France, and the Netherlands is particularly strong, where it is frequently served alongside meals in restaurants. Moreover, quick-service restaurants in Europe are expanding at a noteworthy rate, introducing new food and beverage items inspired by both local and international cuisines to enhance their competitive position. It is anticipated that this trend will have a positive effect on the regional market in the years to come.
Competitive Landscape:
The major global players in the market include Reignwood Investments U.K. Ltd., PepsiCo., Nestlé, A.G., The Coca-Cola Company, CG Roxane, LLC, Tempo Beverage Ltd, Keurig Dr. Pepper Inc., Seven Up, Inc., Ferrarelle, and Sanpellegrino S.p.A
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1) Unlimited Analyst support for a period of 1 year.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global sparkling water market by product, category, packaging type, distribution channel, and region, highlighting the key commercial assets and players.
- By Product: Mineral Water, Purified Water, Spring Water, Sparkling Water, Others
- By Category: Unflavored, Flavored
- By Packaging Type: Bottles, Cans, Others
- By Distribution Channel: Offline, Online
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global sparkling water market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as Porter’s five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global sparkling water market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in Excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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