Sparkling Water Market : Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Sparkling Water Market size valued at USD 28.72 billion in 2020 and expected to grow at a CAGR of 11.2 % during the forecast period 2021-2027. People all around the world are gradually changing to healthy and unique drinks, including sparkling water, as a result of the rising inclination of leading a hale and hearty lifestyle and routine among all age groups. Over the forecast period, the sparkling water market is expected to be driven by consumers’ increased preference for sparkling water over sugary carbonated and sodas drinks. The bulk of public places and offices were closed during the early months of the Covid-19 pandemic, resulting in a considerable decline in commercial demand for sparkling water. Nevertheless, extensive home isolation orders have expanded the market for bottled water of all kinds, particularly sparkling water, in families all across the world. The sparkling water craze is a microcosm of a much bigger non-alcoholic beverage industry trend. An increasing number of health-conscious customers is driving a massive shift toward healthful and nutritious beverages. This is exemplified by the fact that prominent players in the carbonated beverage sector are converting their portfolios that included sparkling water, which is a key element in the sparkling water market’s expansion. Sparkling water is gradually gaining market share from soft drinks, as it has a no-sugar and nutrition label while still presenting itself as a distinctive bottled water drink for people. The fact that the major players are adopting new tactics to promote and sell their goods as healthy beverages in order to expand their health-conscious customer base is a positive sign for the sparkling water industry. Sparkling water is presently leveraging itself as a pleasant and fresh option for customers in the non-alcoholic beverage market, as health-conscious consumers hunt for more healthier options in the beverage market. Furthermore, in many places, a lack of consumer understanding and distribution channels may limit the growth of the market.