Sparkling Water Market Size, Share, Growth Analysis, By Product(flavoured and unflavoured sparkling water), By Distribution channel(online and off-line), By Packaging(bottles and cans), By Region - Industry Forecast 2024-2031

Sparkling Water Market size was valued at USD 29.41 billion in 2019 and is poised to grow from USD 33.1 billion in 2023 to USD 75.49 billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

The businesses are well-established in a number of developed and developing economies, which opens up profitable potential for their spread. These market participants are intensely focused on creating high-end, premium products to satisfy the continuously changing needs of the consumer. The top producers in this industry concentrate on strategic alliances, mergers, expansions, and collaborations. 'Nestlé S.A.', 'The Coca-Cola Company', 'PepsiCo, Inc.', 'Danone S.A.', 'Keurig Dr Pepper Inc.', 'S. Pellegrino', 'Sanpellegrino S.p.A', 'Perrier', 'Topo Chico', 'LaCroix', 'Gerolsteiner Brunnen GmbH & Co. KG', 'Voss of Norway ASA', 'Ferrarelle SpA', 'Icelandic Glacial Inc.', 'Whole Foods Market Inc.', 'Talking Rain Beverage Company, Inc.', 'Crystal Geyser Water Company', 'Poland Spring', 'VOSS Water', 'Evian', 'In January 2022, Evian introduced its first sparkling water in both can and bottle from reaching the shelves of various markets. This new item has just the right amount of glitter because of its excellent mineral quality and tiny bubbles, which give it a light flavor and moderate strength.', 'In May 2021, Sparkling Spring Mineral Water Co., a renowned distributor of home and office goods, was purchased by Nestle Waters. Nestle Waters improves its position as the market leader in North America, and this purchase presents considerable potential for Nestle.'

One of the key factors fueling the growth of the sparkling water market is the rising consumer preference for sparkling water over soda and sweet carbonated drinks. The sector has benefited from the trend toward adopting a healthy lifestyle, which has seen consumers of all ages switch to new and healthy drinks. The market's expansion is accelerated by the growing awareness of the value of maintaining a healthy lifestyle. Due to the presence of a number of minerals, such as magnesium, calcium, and salt, which further improve digestion and may cure constipation, people are gravitating toward sparkling water.

Sparkling water is vitamin-enriched water that has grown in popularity among consumers due to its convenience, alleged health advantages, and superior flavor over tap water. Due to rising worries about a variety of health issues, including heartburn, weight gain, and digestive problems, consumers are choosing healthier alternatives including functional water and flavored water.

In 2021, North America had the highest share of more than 35.0%. The primary driver of the market is the growing customer preference for healthy alternatives to soft drinks. Consumers are being persuaded to drink sparkling water due to advantages like increased intake, easier digestion, and improved bone and heart health. Additionally, it is projected that the simple availability of this product across distribution channels will accelerate the expansion of this segment. Major producers and marketers in the nation have begun to promote functional water as a healthier option to carbonated beverages and fruit juices. The players assert that functional water is an enhanced product that may serve as a functional beverage in addition to being used for hydration through product descriptions, interactive labeling, backing from reputable companies, and arranging programs and seminars.