Newark, April 20, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global water enhancer market is projected to grow from USD 2.80 billion in 2022 to USD 7.28 billion By 2032, at a CAGR of 10.03% during the forecast period 2023-2032.
Water enhancers are consumables that add additional flavour and nutritional advantages to carbonated water. Owing to the CO2 gas, the drink has a dull carbonated taste, and this drink is accepted as a variety of soft drinks all over the globe. Carbonic acid is a procedure of dissolving CO2 in water at low pressure and temperatures. However, the taste is a bit costly for human health. This flavour has intrigued people all over the world. Product concentrates are often offered in little packages, letting retailers increase shelf profits by freeing up shelf space for other products and providing convenience to the end user. Since the 2000s, efforts to create drinks with unique flavours and make non-nutritive soft drinks for human health have become popular.
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Consumers are aggressively turning towards nutritious foods and beverages that can improve their overall health, which is expected to drive the market forward. In addition, the government's move to impose a sugar tax on all sugar-sweetened beverages in the country draws consumers' attention to substitutes for high-sugar beverages, such as water enhancers. The introduction of natural colours, new exotic flavours, antioxidants and active ingredients such as added minerals and vitamins is pushing the potential growth of this market. Competition among the companies on the shelf space in retail stores is fierce, and marketers are placing these products alongside bottled water to drive impulse buying characteristics among buyers.
Competitive Strategy
To boost their market situation in the global water enhancer market, the prominent industry players are now aim to take the approaches such as mergers & acquisitions, collaborations, partnerships, joint ventures, product innovations, and recent developments.
• To compete with Kraft Foods' MiO Fit water enhancer, The Coca-Cola Company introduced its water enhancer category by launching DASANI Drops, followed by energy enhancers and sports drinks. Introducing such products leads to expanding the water enhancer market for The Coca-Cola Company.
Market Growth & Trends
The growing need for nutritious water worldwide owing to the health advantages and rising acceptance of nutritious diets is one of the prominent aspects driving the market growth. The enhancer makes the water more nutritious and tasteful because it includes electrolytes, minerals, vitamins, and other healthful components. Moreover, product adoption is significantly boosted in developed countries due to the increasing understanding of maintaining a healthy lifestyle.
Launching new flavours and product lines is one of the significant trends in the water enhancers market, contributing to the expansion of the market's growth. In addition, makers of flavoured waters and energy drinks are releasing several new flavours, such as H2ROSE, which uses rose water to make an aromatic and sweet drink.
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Key Findings
• In 2022, the flavoured water enhancer section accounted for the largest share of the market, with 48.53% and a market revenue of USD 1.35 billion.
The product type segment is classified into flavoured water enhancer, workout water enhancer, and energy/fitness water enhancer. In 2022, the flavoured water enhancer section accounted for the largest market share, with 48.53% and a market revenue of USD 1.35 billion.
• In 2022, the liquid water enhancer section dominated the market with the largest share of 42.18% and a market revenue of USD 1.18 billion.
The form segment includes powder water enhancer, water enhancer tablets and liquid water enhancer. In 2022, the liquid water enhancer section dominated the market with the largest share of 42.18% and a market revenue of USD 1.18 billion.
• In 2022, the sweeteners segment led the market with the largest share of 41.85% and market revenue of USD 1.17 billion.
The active ingredient section is divided into sweeteners, electrolytes, vitamins and antioxidants. In 2022, the sweeteners segment led the market with the largest share of 41.85% and market revenue of USD 1.17 billion.
• In 2022, the offline segment registered the largest market share of 71.24% and a market revenue of USD 1.99 billion.
The distribution channel section includes offline and online. The offline segment is further segmented into hypermarket/supermarket, convenience store, specialty stores and others. The online segment is further divided into e-commerce platforms and brand website. In 2022, the offline segment dominated the market with the largest share of 71.24% and market revenue of USD 1.99 billion.
Regional Segment Analysis of the Water Enhancers Market
• North America (U.S., Mexico, Canada)
• Europe (Germany, Italy, France, Spain, U.K., Rest of Europe)
• Asia-Pacific (India, China, Japan, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region registered the largest market share, with 35.72% revenue in 2022 and a market revenue of USD 1.00 billion. Moreover, the consumption of water enhancers has also increased among those looking for healthy drinking options due to increased consumer preference for functional ingredients. Consumer preference for natural, herbal, botanical or plant-derived products has intensified water growth enhancers. The growing need for customized beverage options also drives North America's market growth. Europe is anticipated to register a prominent market share over the forecast period. Nowadays, companies are launching new water enhancers that are gluten-free, ketogenic, non-dairy, vegan, and low in carbs. The market for water enhancers is anticipated to increase over the forecast period as these products satisfy a wide range of consumer needs.
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Key Players Operating in the Global Water Enhancer Market are:
• 4C Foods
• AriZona Beverages USA LLC
• Biogen SA
• BPI Sports LLC
• Britvic plc
• Beyond Water
• Brite Idea Foods LLC
• DS International
• Dyla LLC (Stur)
• Elvin Group
• GNC Holdings LLC
• Heartland Food Products Group
• Keurig Dr Pepper Inc.
• Mondelez International
• Nutritech
• Nestle S.A.
• Nuun
• Netrition Inc.
• PepsiCo Inc.
• Primo Water Corp.
• Protekt
• Rasna Private Ltd.
• Refresco Group BV
• sKoya
• Sunkist Growers Inc.
• SweetLeaf Stevia Sweetener
• Target Corp.
• The Coca-Cola Company
• The Kraft Heinz Company
• The Jel Sert Co.
• Wisdom Natural Brands
This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global water enhancer market based on the below-mentioned segments:
Global Water Enhancer Market by Product Type:
• Flavoured Water Enhancer
• Workout Water Enhancer
• Energy/Fitness Water Enhancer
Global Water Enhancer Market by Form:
• Powder Water Enhancer
• Water Enhancer Tablets
• Liquid Water Enhancer
Global Water Enhancer Market by Active Ingredient:
• Sweeteners
• Electrolytes
• Vitamins
• Antioxidants
Global Water Enhancer Market by Distribution Channel:
• Offline
o Hypermarket/Supermarket
o Convenience Store
o Specialty Stores
o Others
• Online
o Brand Website
o E-commerce Platforms
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About the report:
The global water enhancer market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes opportunities, challenges, driving factors, and restraints for gaining critical insight into the market. The study includes porter's five forces model, raw material analysis, supply and demand analysis, distribution analysis, competitor position grid analysis, attractiveness analysis, and marketing channels analysis.
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