Introduction
Carbonate or Sparkling water is water that has been infused with Carbon Dioxide gas, which is either artificially injected under pressure or occurring due to natural geological processes. Carbonation causes small bubbles to form, giving the water an effervescent quality. It is available in many flavors and is devoid of sugar content and many other additives, unlike soda water.
The Global Bottled Water market is expected to grow with a CAGR of 11.25% during the forecast period (2020-2027). Bottled water is drinking water such as well water, distilled water, mineral water, or spring water that is packaged in PET or Glass Bottles which may or may not be carbonated.
Table of Contents
Market Overview
The global sparkling water market is a microcosm of the global bottled water market
It was valued at USD 24.51 billion in 2019 to reach USD 59.67 billion and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2020 to 2027.
It is a rapidly growing segment of the carbonated water market.
Due to the consumer shift towards healthy drinks, the sparkling water market is expected to grow at an exponential rate between 2020-2027.
Key Trends
Key Market Players
The market is slightly fragmented owing to the presence of some large multinational companies with a strong presence across the globe. Leading manufacturers hold a significant market share in Europe, North America, and major parts of Asia. With the growing trend of healthy and low sugary beverages across the globe, manufacturers are launching new products. Some of the leading market players are Nestlé S.A., PepsiCo Inc., The Coca-Cola Company, Cott Corporation,Danone S.A.,Keurig Dr Pepper, Asahi Group Holdings, Ltd.,GEROLSTEINER BRUNNEN GMBH & CO. KG, Rhodius Mineralquellen Und Getranke GmbH & Co. KG and National Beverage Corp.
Growth Drivers and Challenges
The key factors that are driving the market growth include increasing consumer preference for healthy alternatives for carbonated and other types of sugary soft drinks, the rise in obesity, and new product launches globally. Health problems associated with such drinks are promoting this water among consumers.
In addition, soaring drinking water contamination across the globe has fueled the demand for clean, purified, and safe bottled water with added minerals at the global level.
Despite the opportunities that are in the market for the different players, there are some challenges. They can come in the form of an underdeveloped market, dental concerns from sparkling water, consumers’ misunderstanding of the products and their health benefits, increasing competition, a saturated market and lack of brand loyalty.