Sparkling Water Industry
The global sparkling water market has experienced significant growth, with its size valued at USD 29.71 billion in 2020. This market is projected to continue expanding at a robust compound annual growth rate (CAGR) of 12.6% from 2021 to 2028. A notable factor contributing to this growth is the increasing trend of adopting healthier lifestyles among individuals across various age groups. As people become more health-conscious, there has been a marked shift toward consuming healthier and more innovative beverage options, including sparkling water. This shift is further fueled by a growing consumer preference for sparkling water as a substitute for sodas and other sugary carbonated beverages, indicating a substantial change in drinking habits that is expected to drive the market forward throughout the forecast period.
The COVID-19 pandemic initially disrupted the sparkling water market, as the closure of public spaces and offices led to a significant decline in commercial demand. However, the subsequent enforcement of widespread home isolation orders resulted in an unexpected increase in demand for bottled water, including sparkling water, among households worldwide. This shift in consumption patterns prompted bottled water companies to enhance their production capacities to meet the burgeoning demand, which has positively impacted the sparkling water market.
As consumers increasingly recognize the importance of maintaining a healthy lifestyle, sparkling water has gained popularity due to its mineral content, which includes essential minerals such as sodium, magnesium, and calcium. These minerals not only contribute to the nutritional value of sparkling water but also offer several health benefits. For instance, sparkling water is known to aid digestion and may help alleviate constipation, making it a desirable choice for health-conscious individuals.
Additionally, research has indicated that sparkling water is not as detrimental to dental and bone health as traditional sodas. This has led many consumers to view carbonated water as a healthier alternative to both soda and sugary carbonated drinks. The perception of sparkling water as a safer and more health-conscious beverage choice is gaining traction, further driving its market growth.
Over the past few years, the increase in commercial advertising for bottled water has also played a crucial role in enhancing brand visibility within the sparkling water market. These advertisements often emphasize the product's quality, hydration benefits, and unique taste, as well as its convenience for consumers. By effectively communicating these advantages, brands are successfully attracting more customers and encouraging them to switch from sugary drinks to sparkling water, thereby solidifying its position as a preferred beverage choice in the health-focused market landscape.
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Distribution Channel Insights
Others Segment:
- Dominated the market in 2020, holding a 36.4% share due to its broad appeal and diverse offerings.
- The hypermarket, supermarket, and convenience stores sub-segments also captured a significant portion of the market in 2020.
- Consumers are drawn to these stores for their wide selection of both premium and private-label brands, which provides a range of choices at various price points.
- Membership programs offered by these stores enhance customer loyalty by offering:
- Discounts on products
- Unlimited free delivery options
- Other perks designed to improve the shopping experience, which continue to attract repeat customers.
Online Distribution Channel:
- Expected to achieve the fastest CAGR of 13.3% from 2021 to 2028 as a result of shifts in consumer shopping behavior.
- The convenience of online shopping is a primary driver of growth, as consumers increasingly prefer the ease of purchasing items from home.
- Key benefits of online shopping platforms that appeal to millennials and younger generations include:
- Doorstep delivery and the ability to shop remotely
- Free shipping options and subscription services
- Discounts that make products more accessible and appealing.
- These advantages are attracting a growing customer base to the online channel, reinforcing its rapid growth trajectory within the market.
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