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. 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 2017-2023.
Based on category, the global sparkling water market has been segmented into plain and flavored. Among the 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 size has been segregated, by packaging type, into bottles, cans and others. In terms of packaging material, cans 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 the 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.
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On the basis of region, the global sparkling water market has been segmented by North America, Europe, Asia-Pacific, and RoW. Europe is dominating the 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 sparkling market in this region. High inclination of consumers towards functional beverages in the Europe is driving the market for sparkling water in this region.
The commercial sparkling water machine 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, 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).
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