Sparkling Water Market, 35% of Growth to Originate from North America, Technavio
NEW YORK, April 17, 2024 /PRNewswire/ -- The global sparkling water market size is estimated to grow by USD 25446.84 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 12.22% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 35%.
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North America is expected to play a pivotal role in propelling the global sparkling water market
Geographic Landscape:
The Sparkling Water Market in North America experienced significant growth in 2022, driven by consumer interest in nonalcoholic beverages and the rising trend of conscious consumption. Urbanization, increasing awareness about sugar-free products, and the growing demand for online shopping contributed to market expansion. Prominent vendors, such as Waterloo Sparkling, collaborated with celebrities like Curtis Stone for product endorsement. Tropical fruit flavors, like mango passion fruit and triple berry, gained popularity in the market. The caffeinated segment, with added energy levels, also saw growth. Natural/mineral water, free from added sugar and artificial sweeteners, remained a preferred choice. Brands like Serafina, Dash Water, LaCroix, Topo Chico, and San Pellegrino, offered flavored versions with airtight sealing and effervescence. Convenience stores provided competitive pricing, making sparkling water an accessible alternative to sugary carbonated beverages and regular water. Domestic taxes and shipping costs, however, posed challenges for market growth in some regions, while a lack of awareness and exotic packaging limited reach in others. The market also included carbonated drinks from brands like Dasani Sparkling and Sodas, catering to commercial demand. Minerals in sparkling water were believed to aid digestion, dental health, and bone health, making it a popular choice among consumers. Commercial advertisements increased brand visibility, further fueling market growth.
Research Analysis
The Sparkling Water Market is a highly competitive industry, with an increasing number of millennials showing heightened health consciousness. Brands like Dash Water, LaCroix, Topo Chico, and San Pellegrino have gained significant consumer interest, offering various flavors such as Lime, Grapefruit, and Cranberry. Manufacturing and transportation processes are crucial in ensuring airtight sealing and maintaining effervescence. Trade restrictions can impact the market, but consumer preference for nonalcoholic beverages continues to drive growth. Soda water and bottled water are key players in the market, with convenience stores offering competitive pricing. Collaboration between brands and suppliers ensures the use of advanced technology for production and distribution. Reusable glass bottles are also gaining popularity for their eco-friendly appeal.
Market Drivers
The Sparkling Water Market has experienced significant growth, driven by consumer preferences for low-alcohol, low-carb beverages and health concerns. Exotic packaging, a key trend, enhances brand visibility in the competitive market. The caffeinated segment caters to consumers seeking energy levels, with natural/mineral water and zero added sugar options appealing to health-conscious individuals. Artificial sweeteners are used in flavored versions, such as Serafina's Mango Passion Fruit, Triple Berry, Blueberry Pomegranate, Citrus Cherry, and mineral sparkling water. Top brands like LaCroix, Caffeine-infused Dash Water, and Sodas like San Pellegrino, Dasani Sparkling, and Topo Chico differentiate through unique flavors and airtight sealing for effervescence preservation. Convenience stores offer competitive pricing, making these beverages accessible to a broad audience. Flavored variants, including coffee drinks and sweetened teas, cater to diverse tastes. Reusable glass bottles contribute to sustainability efforts. Mineral content in sparkling water benefits digestion, dental health, and bone health. Commercial advertisements further boost market growth.
Market Overview
The Sparkling Water Market is experiencing significant growth, driven by consumer preferences for healthier beverage options. Brands like Bonne Bell, Consumer Products, and Cranberry Brands are making strides in this sector. The demand for sugar-free and zero-calorie options is on the rise, with consumers seeking out brands like SodaStream and LaCroix. The trend towards functional beverages is also impacting the market, with flavored sparkling waters infused with vitamins and minerals gaining popularity. The market is expected to continue its upward trajectory, with regions like Europe and North America leading the way. The shift towards sustainable packaging is also influencing the market, with companies like Nalco and PepsiCo implementing eco-friendly solutions. Overall, the Sparkling Water Market is a dynamic and evolving industry, driven by consumer preferences and innovative product offerings.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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