Growing consumption of bottled water rich in minerals such as potassium, sodium, and magnesium, is supporting the growth of sparkling water market. Moreover, efforts by manufacturers towards product innovation followed by product promotion is boosting the growth of the market. The attractive and convenient packaging of the product is also having a positive impact on the growth of the market. All these factors are projected to contribute to the growth of sparkling water market during the forecast period 2019-2023.
Based on the category, the global sparkling water market has been segmented into plain and flavored. Among both, plain sparkling water is projecting to dominate the market. However, flavored sparkling water is forecasted to be the fastest growing segment during the forecast period. The demand for flavored sparkling water is high in developing countries like China, India, and Brazil.
The global sparkling water market has been segregated, by packaging type, into bottles, cans, and others. In terms of packaging material, can draw the most demand in the tonic water market. Ease of consumption and high durability is the major reason for the growth of this segment.
The global market for sparkling water has also been classified, by distribution channel, as store-based and non-store based. The store-based distribution channel has been further divided into supermarkets & hypermarkets, convenience stores, and others. Among both store-based distribution channel is witnessed to be dominating the market. Ease of product availability and consumer preference towards store-based channel is supporting the growth. However, non-store based distribution channel is projected to expand at a higher pace over the forecast period.
As per the latest research report published by Research Cosmos, Europe region is dominating the Global Sparkling Water Market followed by North America. Presence of major key players in North America and continuous product innovation in terms of new flavors and packaging is propelling the growth of the sparkling market in this region. High inclination of consumers towards functional beverages in Europe is driving the market for sparkling water in this region.
The sparkling water market in Asia-Pacific is expected to grow rapidly due to the increasing awareness about the benefits of sparkling water. Changing lifestyle followed by increasing demand for healthy beverage among the population in developing countries is majorly contributing to the growth of this market in Asia-Pacific. Also, the Asia-Pacific region has a number of mountain springs through which natural sparkling water is obtained which is rich in minerals. Latin America is also expected to witness moderate growth over the estimated period
Some of the key players in the global sparkling water market are The Coca-Cola Company (US), Cott Corporation (Canada), Nestle S.A. (Switzerland), Dr Pepper Snapple Group (US), PepsiCo, Inc. (US), Crystal Geyser Water Company (US), Reignwood Group (China), A.G. BARR p.l.c. (UK), Gerolsteiner Brunnen GmbH & Co. KG (Germany), Mountain Valley Spring Company, LLC (US), and Tempo Beverage Ltd (Israel).