Water Enhancers Market Overview
The pursuit to make fluids like water more favorable and equipped with supplementary dietary benefits without the carbonation process is on track in recent times. This lead to the addition of ingredients ranging from natural or artificial flavors, sweeteners, sugar, vitamins, minerals and other enhancements to formulate enhanced water.
The marketing of enhanced water typically capitalizes on the healthful image of water combined with the perceived health, functional or taste benefits of one or more additional ingredients. The ease of mixing or blending with water and the ease of eliminating the product from mixing and application equipment are two characteristics of immediate interest.
With the increase in obese population around the world and the belief that that carbonated drinks increase the chances of obesity. Hence, Customers, due to rising health awareness, are avoiding the consumption of these carbonated drinks and switching towards water enhancers. The absence of stringent regulations from regulatory authorities, lack of consumer-friendly manufacturing practices by market players and intake-safety concern as well as the lack of awareness among the consumers is some of the restraints that are hindering the growth of the global water enhancer market.
Water Enhancers Market Forecast Report (2018-2023)
Global Water Enhancers Market was worth USD 2.35 Billion in 2018 and estimated to be growing at a CAGR of 13.36%, to reach USD 4.40 Billion by 2023.
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Water Enhancers Market Segmentation
Global Water enhancers market is segmented on the basis of product type into flavored drops, Energy drops, Fitness and workout drops. Out of all, Energy drops segment leads the market due to their demand amongst the athletic and fitness-oriented consumers. Based on the active ingredients present the market is categorized into Vitamins, Electrolytes, Sweeteners, and Anti-oxidants. Furthermore, based on the source type the market is analyzed under Fruits, Vegetables, Tea and Coffee, Coconut water & other inclusive segments.
Based on geography the market is analyzed under various regions namely, North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa. North America controlled the sector with the highest number of market share followed by Europe. Asia-Pacific is an emerging market due to its higher health and fitness conscious populations and is expected to grow with the highest estimated CAGR during the forecast period.
The major companies dominating this market for its products and services are:
- Arizona Beverages USA,
- The Coca-Cola Company,
- Kraft Foods
- Cott Corporation
- The kraft Heinz Company
- Heartland Food Products Group
- ICEE Company
- Jel Sert
- Dreampark LLC
- Aquity Group
- Wisdom Natural Brands
Key Developments in the Market
- Oct 10, 2018 – NESCAFE launched “Nurture Stronger Bond” campaign, the biggest campaign of the year with Baht 800 million budgets.
- February 2018 – PepsiCo announced the acquisition of LaCroix in sparkling water battle. PepsiCo brought its marketing muscle to the sparkling water craze with a new aimed squarely at LaCroix, which is the upstart market leader.
- February 2018 – The Cott Corporation had announced the acquisition of Crystal Rock Holdings Inc. for nearly USD 35 million, thus expanding its water, coffee, filtration and office supply service delivery business throughout New York and New England.
- January 2016 – Coca Cola South Pacific announced the launch of two liquid concentrates water enhancers across its portfolio of brands in Australia.
The companies with constant expansion of production capacities and product range with a backed up appealing marketing strategy have gained a substantial consumer demand and are progressing consequently. Therefore, the new entrants should concentrate on effective supply chain moderations to compete with the big players.
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