The sparkling water market size is projected to reach US$ 68.03 billion by 2031 from US$ 28.03 billion in 2023. The market is expected to register a CAGR of 11.7% in 2023–2031. The growing popularity of sparkling water among millennials is likely to remain a key sparkling water market trends.
Various health benefits associated with sparkling water are boosting the growth of the sparkling water market. With the growing trend of adopting a healthy lifestyle among all age groups, consumers are progressively switching to healthy and innovative drinks, including sparkling water, especially as an alternative to sodas and sugary carbonated beverages. This is increasing the sparkling water market size. According to Nestlé, a Switzerland-based food and beverages company, ~64% of consumers prefer functional beverages with no added calories. In addition, most young age consumers are increasingly opting for sparkling water over plain water, mainly due to their preference for flavours.
Sparkling water is one of the preferred alternatives for soft drinks such as soda and juices. Sparkling water is produced when water is infused with carbon dioxide under pressure which makes it drink similar to soft drinks with less calories. It comes in plain and flavoured categories with added sweeteners and sugar. Sparkling water keeps a person hydrated and provides weight management benefits. Research also states that sparkling water improves digestion and helps to relieve constipation. Currently, sparkling water is gaining popularity owing to its health benefits and less calorie content compared to other soft drinks.
Manufacturers are launching innovative beverage varieties to reduce levels of added sugar and improve the overall consumer experience. In March 2021, Nestle's US Perrier brand announced Energize, caffeinated sparkling water. With this, the company has presented its initial line of carbonated energy beverages. Further, in May 2021, PepsiCo launched Soulboost, an enhanced sparkling water beverage made with real juice and functional ingredients. Also, to satisfy the growing demands, manufacturers are trying to launch new product variants with caffeine in it. Therefore, the continuous product innovations by key sparkling water companies are grabbing the attention of consumers, thus propelling the sparkling water market growth.
During the initial months of the COVID-19 pandemic, most offices and public places were closed, which led to a substantial drop in the commercial demand for sparkling water. However, widespread home isolation orders due to COVID-19 have driven the demand for various types of bottled water, including sparkling water, among households. The change in consumers’ shopping behavior is also one of the significant factors driving sales through the online channel. Thus, a surge in at-home consumption is creating lucrative opportunities for the growth of the sparkling water market players.
Key segments that contributed to the derivation of the sparkling water market analysis are category, packaging type, and distribution channel.
The geographic scope of the sparkling water market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The Asia Pacific region holds a larger share of the global market. North America is also one of the major contributors in the global sparkling water market growth. In North America, the sparkling water market is currently in the growth phase and experiencing exponential growth. With the growing trend of leading a healthy lifestyle among all age groups, the population of North America is gradually shifting towards healthy and innovative drinks, including sparkling water. The market is likely to be driven by rising consumer preference for sparkling water over soda water and sugary carbonated drinks.
The regional trends and factors influencing the Sparkling Water Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Sparkling Water Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 28.03 Billion |
| Market Size by 2031 | US$ 68.03 Billion |
| Global CAGR (2023 - 2031) | 11.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Category
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Sparkling Water Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Sparkling Water Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The sparkling water market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for sparkling water and strategies:
The “Sparkling Water Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: