Global Sparkling Water Market Booming to Cross USD 57-Billion Mark by 2028

Published | 12 September 2022

Global sparkling water market continues to maintain its spark by growing at a significant rate owing to a rapidly increasing awareness among people about quality of drinking water and their desire to lead a healthy lifestyle.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global sparkling water market to grow from USD 30.48 billion in 2021 to USD 57.22 billion by 2028, at a significant CAGR of 9% during the forecast period (2022–2028). The market growth is driven by grwoing awareness among people to drink clean and mineral-rich water, lead a healthy lifestyle, and an increase in their disposable income.

An increasing number of people prefer sparkling water, as it contains a variety of minerals, including sodium, magnesium, and calcium, as awareness of the value of living a healthy lifestyle grows. The substance also has a number of benefits, such as the ability to ease constipation and aid with digestion. With the advent of several new products, including sparkling water, several of the largest bottled water producers, including Nestlé S.A., The Coca-Cola Company, PepsiCo Inc., and Dr. Pepper Snapple Group, in their campaigns encourage people to drink more water for health reasons. For instance, the Coca-Cola Company introduced a new line of sparkling water in the U.S. market in March 2020 under the brand name "AHA," which includes a variety of flavor infusions to meet shifting consumer demand.

Global Sparkling Water Market - Technology Advancements

During the forecast period, the market is expected to be driven by consumers' increasing preference for sparkling water over soda and other sweet carbonated beverages. Most public spaces and offices were closed during the first few months of the Covid-19 pandemic, which resulted in a huge decline in the commercial demand for sparkling water. However, frequent home isolation orders have increased household demand for bottled water—including sparkling water—in all forms. The market has benefited as a result of bottled water companies increasing their production capacity to meet this spike in demand, said the International Bottled Water Association (IBWA).

Challenge: High Cost of Sparkling Water

Sparkling water is costlier than cabonated and other soft drinks. The inexpensive cost of alternative carbonated beverages, on the other hand, is anticipated to impede the expansion of global sparkling water market. Also, increasing domestic taxes and shipping costs could pose a threat to the market growth.

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Segmental Coverage

Global Sparkling Water Market - By Channel of Distribution

Convenience stores, supermarkets, and hypermarkets collectively account for a sizable portion in global sparkling water market by channel of distribution. The availability of various premium and private label brands in these retailers also draws customers to these channels for product purchases. To improve consumers' shopping experiences, these stores' membership programs offer advantages including discounts and access to limitless free delivery. The online distribution channel, however, is expected to grow at the fastest rate. One of the key elements boosting sales through the online channel is the change in consumer shopping behavior. Millennials and the younger generation are choosing online platforms because of the advantages they offer, such as buying from the convenience of one's home, doorstep delivery, free shipping, subscription services, and discounts.

Regional Insights

In global sparkling water market by region, North America holds the leadership position. The primary driver of the regional market is the growing customer preference for healthy alternatives to soft drinks. Consumers are being persuaded to drink sparkling water due to its advantages, such as increased intake, easier digestion, and improved bone and heart health. The easy availability of the product across distribution channels will accelerate the market expansion in the region.

Impact of Covid-19 on the Global Sparkling Water Market

The global sparkling water market has been impacted by COVID-19. Sales and beverage manufacturing were impeded by low investment costs and a lack of workers. In response, the players adopted new safety measures for developing the products. As it provides benefits such as simple payment options, availability of a wide range of products, doorstep delivery, and significant discounts, the online distribution channel is changing how people shop, which helped the market grow during the pandemic and will help it grow even more during the post-pandemic period.

Competitive Landscape

Major players in global sparkling water market include Nestlé, Inc. PepsiCo, National Drinks Corporation, and Rain Talking. Major bottled water producers are introducing sparkling water. For instance, PepsiCo, Inc. launched five new caffeinated sparkling water varieties under its bubbly brand in February 2021: mango passion fruit, blood orange grapefruit, triple berry, blueberry pomegranate, and citrus cherry flavors. These product launches are rising product visibility in the industry, which is expected to accelerate market growth in the coming years. Product launches and mergers & acquisitions are two of the main strategies used by market participants. For instance, Limitless, a manufacturer of caffeinated sparkling water in the United States, was purchased by Keurig Dr. Pepper Inc. in January 2020. Through this acquisition, Keurig Dr. Pepper expanded its water selection and entered the market for caffeinated sparkling water.

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