“Global Sparkling Water Market to reach a market value of USD 92.9 Billion by 2031 growing at a CAGR of 12.1%”
The Global Sparkling Water Market size is expected to reach $92.9 billion by 2031, rising at a market growth of 12.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 8,799.69 Kilo Tonnes experiencing a growth of 19.8% (2020-2023).
Rapid urbanization and increasing exposure to Western lifestyles and trends have contributed to the growing popularity of this water in the Asia Pacific region. Consequently, the Asia pacific region would acquire nearly 26% of the total market share by 2031. Also, the Chinese convenience stores are expected to register 447.27 kilo tonnes of volume by 2031. The water brands have introduced a wide range of flavors and flavor combinations tailored to Asian tastes and preferences. Exotic fruit flavors, floral infusions, and herbal blends are particularly popular among Asian consumers looking for unique and refreshing beverage options. The growing interest in health and wellness has increased demand for functional and wellness beverages in the Asia Pacific region.
Marketing and advertising campaigns help create brand awareness and visibility for the water brands, especially newer or niche brands entering the market. Social media platforms are powerful tools for marketing this water to consumers, especially younger demographics. Brands use platforms like Instagram, Facebook, and Twitter to engage with consumers, share user-generated content, and run targeted advertising campaigns to reach their target audience. Therefore, the market is expanding significantly due to the marketing and advertising campaigns. Additionally, Higher disposable income allows consumers to trade up to premium and high-quality products, including premium water brands. Consumers are willing to pay a premium for water brands that offer unique flavors, high-quality ingredients, and sophisticated packaging. Thus, because of the higher level of disposable income, the market is anticipated to increase significantly.
However, this water is often more expensive than tap water and other non-alcoholic beverages. Price-sensitive consumers may be reluctant to pay a premium for this water, especially when cheaper alternatives are available. High prices and cost considerations can limit the overall growth potential of the market. Thus, high cost can slow down the growth of the market.
By type, the market is bifurcated into natural/mineral and caffeinated. The caffeinated segment covered a 36% revenue share in the market in 2023. In terms of Volume, the caffeinated segment registered 2,856.02 kilo tonnes in 2023. Caffeinated uplift water provides a natural energy boost without the sugar and calories in traditional energy drinks and sodas. The caffeine content in uplift water helps consumers stay alert and focused throughout the day, making it a popular choice for those needing an energy boost.
Based on packaging, the market is classified into bottled, canned, others. The canned segment acquired a 32% revenue share in the market in 2023. Cans provide better protection against light and oxygen than other packaging materials, such as plastic bottles. This helps extend the shelf life of this water, ensuring that it maintains its freshness and quality for a longer period. Cans come in convenient single-serve sizes, making them an ideal choice for individual consumption.
On the basis of distribution channel, the market is divided into supermarkets & hypermarkets, convenience store, online channel, and others. The online channel segment garnered a 20% revenue share in the market in 2023. In terms of volume, the online channel segment recorded 2,040.65 kilo tonnes in 2023. The online channel offers consumers the convenience of purchasing this water from the comfort of their homes. Consumers can order this water at any time, day or night, without the need to visit a physical store, saving time and effort.
Free Valuable Insights: Global Sparkling Water Market size to reach USD 92.9 Billion by 2031
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region led the market by generating 37% revenue share. North American consumers are increasingly health-conscious and are seeking healthier beverage options. Rising obesity rates and concerns about excessive sugar consumption have prompted many North Americans to reduce their intake of sugary beverages. Fruit-infused waters and exotic and botanical flavors have gained popularity among North American consumers.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 37.7 Billion |
| Market size forecast in 2031 | USD 92.9 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 12.1% from 2024 to 2031 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 312 |
| Number of Tables | 690 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Packaging, Distribution Channel, Region |
| Country scope |
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| Companies Included | Nestle S.A., PepsiCo, Inc., Keurig Dr Pepper, Inc., The Coca Cola Company, Montane Sparkling Spring Water, WakeWater Beverage Co., National Beverage Corporation, Big Watt Beverage Co., Danone S.A. and Volay Brands, LLC |
By Type (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Packaging (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-31)
This Market size is expected to reach $92.9 billion by 2031.
Marketing and advertising campaigns are driving the Market in coming years, however, High-cost considerations of sparkling water restraints the growth of the Market.
Nestle S.A., PepsiCo, Inc., Keurig Dr Pepper, Inc., The Coca Cola Company, Montane Sparkling Spring Water, WakeWater Beverage Co., National Beverage Corporation, Big Watt Beverage Co., Danone S.A. and Volay Brands, LLC
In the year 2023, the market attained a volume of 8,799.69 Kilo Tonnes experiencing a growth of 19.8% (2020-2023).
The Bottled segment led the Market by Packaging in 2023; thereby, achieving a market value of $42 Billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $32.8 Billion by 2031.
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