Global Flavored Sparkling Water Market: Market Overview
Flavored sparkling water is consumed as an alternative to carbonated drinks and sodas. Flavored sparkling water contains added nutritional benefits that make it a good alternative for consumers. Flavored sparkling water is free from calorie, sodium, artificial sweeteners, and are made using natural flavors. It also promotes a healthy lifestyle and helps to maintain weight and prevent obesity. Consumption of flavored sparkling water helps to stave off dehydration.
The growing health consciousness among the consumers and the consumers seeking alternatives for carbonated drinks is expected to boost growth for the flavored sparkling market. However, malpractices in making flavored sparkling water such as adulteration by adding sugars or artificial sweeteners are expected to restrain the market penetration for flavored sparkling water.
Global Flavored Sparkling Water: Market Dynamics
Health benefits associated with flavored sparkling water to drive market growth
Consumption of flavored sparkling water provides the same sensation as consuming a carbonated soda but without the addition of calories and sugar. Flavored sparkling water is made using natural flavors and is beneficial for health when compared to carbonated soda or drinks. Flavored sparkling water also makes a positive impact on bowel movements, thus promoting healthy digestion. The regular consumption of flavored sparkling water helps to reduce weight and prevents obesity, it is also consumed in case of stomach ache. It has added nutrition that helps in keeping a healthy body which is expected to drive growth for the flavored sparkling water market.
Global Flavored Sparkling Water Market: Segmentation
Based on flavor, the global flavored sparkling water market is segmented as:
Based on sales channel, the global flavored sparkling water market is segmented as:
- Hypermarkets/ Supermarkets
- Online Retail
- Specialty Stores
- Convenience Stores
Based on region, the global flavored sparkling water market is segmented as:
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
Global Flavored Sparkling Water Market: Key Players
Some of the key players operating in the flavored sparkling water market are Voss Water, The Coca-Cola Company, LaCroix Beverages, Inc, Sanpellegrino, Perrier, Nestlé Waters North America Inc., Schweppes, Adirondack Beverages, Inc., PepsiCo, Zevia, and others.
Global Flavored Sparkling Water: Opportunities
The high disposable income and consumers' willingness to buy flavored sparkling water instead of regular water is expected to create opportunities for increase for existing and new players in the market. The key players are using various promotional strategies to increase consumer awareness and to attract new customers which are helping for the growth of flavored sparkling water products. The research and development to introduce new and innovative flavors of sparkling water are also expected to attract new customers. Manufacturers are increasingly trying to introduce blends of different flavors to increase the sales of products and expand their product range.
Global Flavored Sparkling Water: Regional Outlook
Flavored sparkling water is growing in the non-alcoholic beverage sector with the increasing demand for functional drinks. North America is expected to become the largest player for flavored sparkling water with the growing health consciousness and high disposable income among the consumers. Europe is also expected to account for the high consumption of flavored sparkling market with the increased demand for the functional beverage in the region. The growing urbanization and presence of developing countries are promoting growth for flavored sparkling water in the Asia Pacific region. Players should focus on expanding their distribution channels and enter new markets to increase sales and revenue.
COVID 19 Impact on Global Flavored Sparkling Water Market
With the spread of COVID 19 across the globe, most of the countries declared a health emergency and stopping unessential movements, thus impacting heavily on the supply chain of goods. This also raised the demand for healthy food and beverage from the consumers that boost immunity. With the relaxation of the COVID 19 norms, the market conditions resumed with the necessary precautions. The pandemic largely influenced the buying behaviour of consumers towards healthy and nutritious food and beverages. This pandemic is expected to impact the flavored sparkling water market at a low level and is anticipated to recover in the next two to three quarters.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.