The global sparkling water market was valued at $12 billion in 2015 and is expected to surpass $15 billion by 2020, says Technavio.
Technavio has announced its latest market research report on sparkling water for the forecast period, 2016-2020. This market analysis, under the non-alcoholic beverages vertical, discusses the major drivers and key emerging trends that will influence the growth of the global sparkling water market during the forecast period. Some of the top vendors listed in this industry analysis include Coca-Cola, Cott, Danone, Dr. Pepper Snapple, Nestlé, and PepsiCo.
In terms of geographical analysis, the Americas is expected to retain its position as dominant shareholder of the global market and is likely to reach a revenue of almost $30 million by 2020. The US, Brazil, and Mexico are anticipated to emerge as the key revenue-generators.
“Private label offerings in the sparkling water market are gaining traction in several countries such as India, China, the UK, and Australia. A growing number of consumers, particularly those who are price-sensitive, are becoming more confident regarding the quality of such products, and are no longer hesitant about purchasing private labels. Leading retailers are introducing and expanding their private label range to include premium, specialized, and basic products,” says Manjunath Reddy, a lead analyst at Technavio for non-alcoholic beverages.
Click here to request a free sample of this report
The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Marketing: Key to influence consumers
Sparkling water drinks are consumed by people of all age groups in the most developed countries. Sparkling water drinks manufacturers capture the market through celebrity endorsements in television advertisements to connect consumers. Vendors also sponsor sports events to create brand and product awareness. Such marketing initiatives are augmenting the demand for sparkling water in the global market. For instance, one of the leading sparkling water drinks vendors, Coca-Cola was the main sponsor of the FIFA World Cup held in Brazil in 2014. It witnessed an increase in its sparkling water drinks sales during the event. Furthermore, Red Bull partners with the coordinators of sporting events such as skiing, skydiving, F1 racing, and freestyle climbing.
Enhanced operational efficiency
Several manufacturers in the global sparking water market are now starting operations in developing countries to exploit the availability of abundant resources and cheap labor. The establishment of production plants in developing countries helps reduce transportation costs and brings about many tax advantages from local governments. Minimizing waste and maintaining operational efficiency have become critical for a business to sustain its profits. Responding to the changing consumer tastes, enabling vertical integration, maintaining product safety, providing fermentation control, and managing water treatment are the most common steps undertaken by some of the leading vendors to improve their operational efficiency.
Mass urbanization
With this rise in urbanization, fresh fruit are becoming less available, prompting people to rely on processed fruit flavors. This trend has a direct and positive impact on the consumption of fruit-flavored sparkling water across the globe. There has been continued growth in the consumption of sparkling water by urban consumers, who are slowly moving away from the consumption of carbonated soft drinks. The urban market sparkling water fueled by a combination of technology adoption, changes in retail supply chains, and income growth.
Some of the other prominent vendors identified in this report are A.G. Barr, Crystal Geyser, Sparkling Ice, Tempo Beverages, Vintage, and VOSS of Norway.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Sparkling Water Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
