Market Research Future (MRFR) has published a cooked research report on the “Global Water Enhancer Market” that contains information from 2018 to 2032. The water enhancer market is estimated to register a CAGR of 10.5% over the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global water enhancer market— PepsiCo Inc, Nestle S.A., The Coca-Cola Company, The Kraft Heinz Company, Jelsert (Starburst), Britvic Plc, Dyla LLC, Wisdom Natural Brands, Pharmavite LLC (MegaFood), DreamPak, Protekt.
Water Enhancer Market Highlights
The global water enhancer market is accounted to register a CAGR of 10.5% during the forecast period and is estimated to reach USD 7.85 billion by 2032.
Water enhancers are concentrated flavored compositions enriched with nutrients and useful substances. These are meant to be mixed with a few drops into plain water. These mixers sweeten, flavor, and nourish the water. The global water enhancer market is expanding rapidly due to the growing popularity of functional beverages that provide healthy hydration and inexpensive nutrition. Water enhancers are becoming a more prevalent retail trend due to their expanding use in numerous areas, such as sports, flavored water, and energy drinks. The demand for water enhancers is rising among modern-day consumers owing to the increasing popularity of on-the-go, convenient drinks.
Enhancers eliminate much of the preparation required for other beverage mixes, such as powdered drinks and frozen concentrates. Water enhancer packs or bottles are easier to transport and store for longer. Water enhancer market expansion is fueled by advancements in packaging technologies and increased retail distribution. The growing awareness of the harmful health impacts of drinking carbonated and sugary beverages is expected to increase demand for water enhancers in the coming years. Furthermore, the industry is expected to benefit from significant growth in healthy and flavored water consumption across emerging economies such as India, China, and others. The rising obesity issues in these countries attributed to unhealthy lifestyles are also predicted to promote the usage of nutritional water enhancers throughout the forecast period.
Segment Analysis
The global water enhancer market has been segmented based on product type and distribution channel.
The market is segmented into Energy, Workout & Fitness, and Flavored based on product type. The flavored segment held the largest market revenue share in 2022.
The global water enhancer market has been segmented based on distribution channels into Hypermarkets/Supermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Stores, and Others. The hypermarkets/supermarkets segment was expected to hold the largest market share in 2022.
Regional Analysis
Based on region, the global water enhancer market has been divided into North America, Europe, Asia-Pacific, and the rest of the World. North America consists of US and Canada. The Europe water enhancer market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The water enhancer market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World’s water enhancer market comprises the Middle East, Africa, and Latin America.
North America holds the largest global water enhancer market revenue share due to rising regional awareness about health and wellness. The U.S. market is likely to drive the region’s growth as it has the largest population of health-conscious consumers. The modern consumer's hectic lifestyle boosts the demand for products that provide rapid hydration and nutrition. Consumers have also been looking for products to help them stay hydrated and healthy while performing daily tasks.
Moreover, the water enhancer market in Europe is predicted to increase significantly due to rising demand for functional beverages and the increasing acceptance of healthy lifestyles. The market is driven by increased product consumption in major countries such as the United Kingdom, Germany, France, Belgium, and others. Consumer preferences for plant-based, herbal, and natural products drive demand for botanical extract-based water enhancers, contributing to the region's growing detox trend. The region's significant import of flavored water also contributed to the region having the second-largest market revenue share.
The Asia-Pacific region is expected to grow fastest due to the increasing demand for healthy and convenient beverages. The region's growth is primarily due to rising awareness in countries such as India and China about adopting a healthy lifestyle and drinking plenty of nutrient-rich water. In addition, rising obesity and unhealthy lifestyle-related diseases fuel the demand for nutritious water enhancers in these countries. The growing millennial population, looking for healthier alternatives to carbonated drinks, also drives up demand for water enhancers.
Other regions, such as Latin America, the Middle East, and Africa, are expected to witness significant growth in the water enhancer market due to increasing health concerns among consumers and rising disposable incomes. Adopting Western lifestyles is also expected to boost the market growth in these regions. The growing presence of key market players such as The Coca-Cola Company and PepsiCo in these regions is further expected to drive market growth.
Key Findings of the Study
- The global water enhancer market is anticipated to reach USD 7.85 billion by 2032, at a CAGR of 10.5% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market for water enhancers, owing to rising demand for low-calorie beverages and expanding awareness in countries such as India and China about a healthy lifestyle, including regular water intake and nutrition.
- Based on product type, the flavored segment was attributed to holding the largest market in 2022, with an approximate market share of 52%.
- PepsiCo Inc, Nestle S.A., The Coca-Cola Company, The Kraft Heinz Company, Jelsert (Starburst), Britvic Plc, Dyla LLC, Wisdom Natural Brands, Pharmavite LLC (MegaFood), DreamPak, Protekt.
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Companies Covered | 15 |
Pages | 128 |
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