NEW YORK, Jan. 23, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the Global Sparkling Water Market anticipated to record a CAGR of 11.7% from 2023 to 2031. Major companies operating in the market are PepsiCo; Nestle; A.G. Barr; Crystal Geyser Water Company; Talking Rain; National Beverage Corp.; Asahi Group Holdings, Ltd.; Dr Pepper Snapple Group, Inc.; Limitless; and The Coca-Cola Company.
Global Sparkling Water Market is witnessing significant growth owing to the increasing demand for dairy protein in food supplements and wide application scope in the food & beverage industry.
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The report runs an in-depth analysis of market trends, key players, and future opportunities. The sparkling water market is significantly growing owing to increasing consumer preference for healthier and low-calorie beverages and the rise of health-conscious trends, along with the growing variety of flavored sparkling water options.
Overview of Report Findings
Market Growth:The sparkling water market is expected to reach US$ 68.03 billion by 2031 from US$ 28.03 billion in 2023; it is anticipated to record a CAGR of 11.7% from 2023 to 2031. 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. All these factors are contributing to the growing sparkling water market size.
According to Nestlé, a Switzerland-based food and beverages company, ~64% of 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 their preference for flavors. Further, soft drinks contribute to a 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. Consuming sparkling water can help consumers manage weight, improve digestion, stave off dehydration, and reduce cholesterol and sugar levels. Thus, health benefits associated with sparkling water are boosting the sparkling water market growth.
Flavor Innovation and Premiumization: The trend toward flavor innovation and premiumization is another major force driving the sparkling water market. Consumers are increasingly seeking new, exciting flavors to enhance their sparkling water experience, leading brands to offer a wide array of fruit-infused and exotic flavors. This innovation helps distinguish sparkling water from basic still water, offering a refreshing alternative to sugary sodas while maintaining a healthy profile.
Additionally, many brands have focused on premium offerings, such as those using organic fruits or offering enhanced benefits involving added vitamins or adaptogens for improved well-being. Premiumization has also led to the use of higher-quality ingredients, sleek packaging, and collaborations with popular wellness brands, positioning sparkling water as a luxurious, lifestyle beverage. As consumers continue to prioritize taste and health, the demand for unique, high-end sparkling water options continues to expand.
Health-Conscious Consumption: The shift toward health-conscious consumption drives the sparkling water market. With rising concerns about the negative health impacts of sugary sodas and sweetened beverages, consumers are increasingly opting for low-calorie, sugar-free alternatives such as sparkling water. Furthermore, sparkling water provides the fizzy sensation of soda without the added sugar or artificial sweeteners. Many consumers perceive sparkling water as a healthier option due to its natural composition, which often includes added minerals or electrolytes for hydration. This trend is particularly strong among millennials and Generation Z, who are more health-conscious and prefer functional beverages that promote wellness. The growing awareness of the health risks associated with sugary drinks has also led to the emergence of sparkling water brands that offer natural, organic, or sustainably sourced ingredients, further enhancing their appeal among consumers focused on well-being.
Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.
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Market Segmentation
- Based on category, the sparkling water market is divided into plain and flavored. The flavored segment held a larger share of the market in 2023.
- By packaging type, the sparkling water market is bifurcated into bottles and cans. The bottles segment accounted for a larger share of the market in 2023.
- In terms of distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Supermarkets and hypermarkets held the largest share in 2023.
- The sparkling water market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
Competitive Strategy and Development
- Key Players: Major companies operating in the sparkling water market are PepsiCo; Nestle; A.G. Barr; Crystal Geyser Water Company; Talking Rain; National Beverage Corp.; Asahi Group Holdings, Ltd.; Dr Pepper Snapple Group, Inc.; Limitless; and The Coca-Cola Company.
- Trending Topics: Flavored sparkling water, nonalcoholic beverages, sparkling wine, carbonated beverages, soft drinks, and packaged beverages, among others.
Global Headlines on Sparkling Water
- Waterloo Sparkling Water Introduces All-New Pomegranate Açaí And Brings Back Fan-Favorite Spiced Apple For The Fall
- Bubly Aims To Shake Up Sparkling Water With New Burst Brand Extension
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Conclusion
The global sparkling water market is experiencing significant growth, driven by health-conscious consumer trends, flavor innovation, and a drop in sales of sugary drinks. With increasing demand for low-calorie, premium, and functional beverages, the market for sparkling water is positioned to expand further, especially in emerging countries. Further, diverse product offerings and a focus on sustainability and wellness are a few factors expected to boost the market growth in the coming years.
The report from The Insight Partners, therefore, provides several stakeholders-including raw material suppliers, sparkling water manufacturers, distributors/suppliers, and others-with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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