World sparkling water mkt to grow at CAGR of 3.33% between 2016 & 2020
Our Bureau, Mumbai The global sparkling water market analyst forecast the global sparkling water market to grow at a compound annual growth rate of 3,33 per cent between 2016 and 2020.
It added that private label offerings in the sparkling water range were gaining popularity in countries such as India, China, the United Kingdom and Australia.
A growing number of consumers, particularly those who are price-sensitive, are becoming more confident in the quality of such products and are no longer hesitant to be regularly purchasing private labels.
Leading retailers are introducing and expanding their private label range to include premium, specialised and basic products. The strategies of private label chains are focused on ensuring the best shelf space for their products, product variety and competitive pricing in core categories such as sparkling water drinks.
According to the report, the United Nations stated that approximately 54 per cent of the world’s population resides in urban areas, which translates to about 3.72 billion people globally.
This trend is expected to accelerate over the forecast period with close to 90 per cent urbanisation expected in the developing world. This shift toward a more urban population globally has a profound implication for the sparkling water market in terms of increase in consumption.
In terms of geographical analysis, the Americas is expected to retain its position as dominant shareholder of the global sparkling water market and is likely to reach a revenue of almost $30 million by 2020.
The United States, Brazil and Mexico are anticipated to emerge as the key revenue-generators. The Americas is the largest market for sparkling water and occupied the highest share in the global sparkling water market in 2015.
The recent shift toward health awareness in the region has reduced the intake of carbonated soft drinks among consumers and has increased the consumption of sparkling water and bottled water, especially among the younger population.
Hypermarkets and supermarkets led the global sparkling water market in 2015 and will contribute to the major share of the sparkling water market across all geographies.
These stores are incorporated with numerous alternatives and varieties of sparkling water from various brands.
The unflavoured sparkling water segment dominated the sparkling water market and accounted for the largest market share in 2015.
Much of the segment’s growth can be attributed to its nutritious element as it is natural and highly preferable among health-conscious consumers.
Coca-Cola, Cott, Danone, Dr Pepper Snapple, Nestlé, and PepsiCo are the key players in the global sparkling water market. Other prominent vendors in the market are A G Barr, Crystal Geyser, Sparkling Ice, Tempo Beverages, Vintage and VOSS of Norway.
Global Sparkling Water Market 2016-2020 was prepared based on an in-depth market analysis with inputs from industry experts.
This report covered the present scenario and the growth prospects of the global sparkling water market for 2016-2020.
To calculate the market size, the report considered the revenue generated from the retail sales of sparkling water.
Another related report is Global Bottled Water Market 2015-2019. The global average per capita consumption of bottled water in 2007 was 7.6 gallons, and it increased to 9.2 gallons in 2012.
The increased prevalence of water-borne diseases and scarcity of tap water in many countries create a high demand for bottled water.
In addition, bottled water is convenient because boiling water at home is time-consuming and is not energy-efficient. It also has consistent taste and quality, making it the preferred choice for travellers.