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Sparkling Water Market is Anticipated to Reach a valuation of USD 69.15 Bn by 2028 at 12.48% CAGR - Exclusive Report by Brandessence Market Research
The growing health cognizance of the masses, rising prevalence of gastrointestinal and heart-based ailments along with unhealthy lifestyle habits of the masses are primary augmenting the outlook of this business vertical. Further, rising R&D activities in the field, surging disposable income levels of the masses, and increasing pervasiveness of obesity are adding momentum to the progression of this marketplace.
Besides, the booming nutraceutical sector, increasing focus of prime players to develop and launch high end products in the field coupled with widespread technological advancements in the product manufacturing sector are creating lucrative opportunities for this Global Sparkling Water Market to prosper. Also, easy product availability across numerous distribution channels and rising trends of serving carbonated water across food joints are aiding the expansion of this industry. On the contrary, high product costs and lack of awareness among consumers are hindering the remuneration scope of this marketplace.
Mergers & acquisitions, R&D investments, product launches, collaborations, and partnerships are among the effective strategies adopted by the top companies to amplify their global footprint and register notable gains.
The flavoured segment presently dominates the market in terms of volume share ascribing to the better taste offered by sparkling water integrated with flavours such as berry, lemon, and orange, among others.
The bottles segment is anticipated to garner noticeable gains over the forecast duration since bottles can be reused or recycled unlike cans.
The online segment currently leads the market and is projected to showcase similar development trends in the ensuing years. This is credited to the rising trends of online shopping, increasing adoption of smart devices, and widespread internet proliferation.
In January 2020 Keurig Dr Pepper Inc. announced the acquisition of Limitless to widen its offerings. In fact, this acquisition enabled the company to mark its entry into the caffeinated sparkling water market.
This business vertical has been gaining robust traction over the years due to the emergence of various beneficial factors.
There has been a rising prevalence of various lifestyle based and gastrointestinal diseases across the globe. This is credited to the shifting inclination of the masses towards an unhealthy lifestyle. Widespread urbanization and surging employment rates have pushed the individuals towards a more sedentary lifestyle. Excessive dependency on electronic devices has decreased the trend of getting a work done physically. In fact, hectic working hours and long commutes have left the people with no time for preparing healthy meals. This has increased the consumption of processed food, thereby leading to the occurrences of digestive and lifestyle-based ailments. These factors are stimulating the overall dynamics of this marketplace.
The wide array of health benefits provided by sparkling water is escalating its demand worldwide. With increasing pervasiveness of various disease, people have become more health consciousness. They are shifting towards the consumption of healthy food and beverages. It is evident that this form of carbonated water comprises of beneficial minerals and helps to prevent various disorders. In fact, regulated consumption of this beverage further helps in keeping heart diseases as bay. Therefore, well known beverage brands are launching their own healthy carbonated water range across the globe. This in turn is fuelling the growth of Global Sparkling Water Market.
With rising income opportunities due to widespread economic developments, the expenditure power of the masses has soared significantly. This has not only improved their lifestyle but has also pushed them to get their hands on high-end products. Sparkling water consists of various advantageous nutrients and undergo a complexed manufacturing process. Moreover, they are mostly sold under big brand names and hence are costly in nature. Only the high incomed individuals can afford these luxury beverages. Therefore, surging disposable income levels of the masses is paving profitable prospects for this business vertical to progress.
North America has been amassing notable gains over the stipulated timeline owing to the rising per capita income of the masses, presence of potential players, increasing popularity of sugar-free edibles, along with growing prevalence of lifestyle diseases.
Asia Pacific is reckoned to capture a substantial revenue share over the estimated timeframe due to increasing adoption of sedentary lifestyle, rising consumption of luxury beverages, surging health cognizance of the masses, and technological advancements in the field of product manufacturing.
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