Sparkling Water Market: Current Analysis and Forecast (2021-2027)

Report Description

The Global Sparkling Water is Expected to Display an Elevated CAGR of ~11% over the forecast period (2021-2027)

The global sparkling water market is experiencing significant growth on account of surging demand for healthy beverages in the food & beverage industry across the globe owing to the rise in awareness for the adoption of a healthy lifestyle. The consumption of refreshing drinks, such as colas and flavored sodas, is reducing globally as they have high sugar content, artificial coloring, phosphoric acid, artificial sweeteners, and caffeine which can cause negative effects on the human body. Owing to this, many consumers are shifting from carbonated drinks to healthy beverages. The growing popularity of detoxification drinks across the globe due to their ability to reduce fatigue, weight loss, improve digestion, remove toxins, immunity-boosting properties, and improvement in overall health further drives the growth of the detox drinks market globally.

The Prevalence of Obesity and Overweight is rising dramatically across the globe and has nearly tripled since 1975. Obesity is among one of the leading causes of death worldwide as obese people are prone to many serious health conditions and illnesses. For instance, as per CDC, More than 900,000 adult COVID-19 hospitalizations occurred in the United States between the beginning of the pandemic and November 18, 2020. Models estimate that 271,800 (30.2%) of these hospitalizations were attributed to obesity.

Sparkling water or carbonated water is a healthier substitute for soft drinks. The growing count of cases of obesity among children and increasing contamination levels of drinking water are driving the growth of the safe and bacteria-free sparkling bottled water market. Moreover, the demand is increasing as it helps in weight loss naturally by boosting the body’s metabolism. Furthermore, consumption of sparkling water improves digestion as it serves as a laxative and provides various healthy nutrients to the digestive system which is further fueling the growth of the sparkling water market.

Household Disposable Income Net, Annual Growth Rate (%), By Selected Countries, 2017 – 2019

Nestlé, PepsiCo, Inc., National Beverage Corp., Talking Rain, Keurig Dr Pepper Inc., The Coca-Cola Company, Danone S.A., SANPELLEGRINO S.P.A, Clear Cut Phocus, Caribou Coffee Operating Company, Inc, etc., are some of the prominent players operating in the Sparkling Water market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Type, Natural/Mineral segment holds the major share”

Based on type, the market is fragmented into Natural/Mineral and Caffeinated. The natural/ mineral segment grabbed the major market share and dominated the market in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. The demand for the natural/ mineral segment is emerging owing to the growing consumer awareness about natural and organic products.  However, the demand for caffeinated would emerge from the millenniums and the market would witness a considerable CAGR.

“Amongst Distribution, Supermarkets/ Hypermarkets segment to grab considerable market share”

Based on the distribution channel, the market is fragmented into Hypermarket & Supermarkets, Convenience Stores, Online, and Others. The hypermarkets/ supermarkets segment grabbed the major market share and dominated the market in 2020. The emerging number of hypermarkets/ supermarkets coupled with the advantage of the availability of several brands under one roof is leading to the growth of this segment. However, the online segment would witness the highest CAGR during the forthcoming years

“North America represents one of the largest markets of Sparkling Water market”

For a better understanding of the market dynamics of the Sparkling Water market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Sparkling Water providers in abundance. Also, leading manufacturers of Sparkling Water are currently launching newly flavored with added benefits products which are also acting as a growth catalyst to the market growth.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Sparkling Water Market were the three major steps undertaken to create and analyze the demand for Sparkling Water across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Sparkling Water market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Sparkling Water through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Sparkling Water market, we conducted a detailed secondary analysis to gather historical market insights and share for type, distribution type for major regions. Major segments included in the report are type and distribution. Further region and country-level analyses were conducted to evaluate the overall adoption of Sparkling Water across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Sparkling Water. Further, we conducted factor analysis using dependent and independent variables such as the surging awareness among end-users, rising disposable income, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Sparkling Water industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Sparkling Water market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Sparkling Water across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Sparkling Water market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Sparkling Water market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of type, and distribution of the Sparkling Water market.

Main Objective of the Sparkling Water Market Study

The current & future market trends of Sparkling Water were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Sparkling Water in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and distribution
• Define and analysis of the regulatory framework for the Sparkling Water industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Sparkling Water market for the major countries
• The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
• Company profiles of the Sparkling Water market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry