Plant-Based Water Market Size, Share, Opportunities, And Trends By Type (Coconut, Maple, Cactus, Others), By Product (Plain, Flavored), By Packaging (Bottles, Pouches, Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Sales, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Aug 2023
- Report Code : KSI061616040
- Pages : 146
It is anticipated that the plant-based water industry will expand rapidly throughout the projected period. Plant-based waters provide a high level of nutrition and are considered an alternative to water. It is advised that plant-based water needs to be taken in limited quantities like any other beverage because of its sugar content. Plant-based water offers added nutritional benefits as it contains potassium, calcium, sodium, and magnesium. Some of the most popular variations of plant-based water are coconut water, aloe water, birch water, etc.
Driving factors for the plant-based water market
The growing people awareness of the health benefits of plant-based water is fueling the plant-based water market There has also been the introduction of creative packaging to gain consumers' attention toward the product. Some of the plant-based water products are used in alteration to normal beverages because it contains lesser amount of sugar. Additionally, the growing development of various manufacturers is leading to plant-based water market growth. Various research to find new sources of plant-based water and innovation for the immunity boost of natural plant-based water is further fueling the plant-based water market
Growing preference for value-added hydration
Working population throughout the globe is gaining interest in plant-based water for instant hydration. With people being more health conscious, the demand has significantly shifted from carbonated soft drinks to bottled water. The increase in people with obesity and diabetes is the key factor. Plant-based water has 45 calories in a 500 ml serving and hence is considered a mid-calorie beverage. Furthermore, many manufacturers are focusing on the launch of natural and organic functional beverages with added nutrients which is fueling the plant-based water market growth.
Increasing popularity of maple plant-based water
Maple water is created by mixing pure sap from maple trees. Maple plant-based water provides hydration and nutrition in addition to rejuvenation which is highly preferred by consumers. On average 95-97.5% of the maple sap contains water and consists of multiple nutrients like organic acids, amino acids, minerals, oligosaccharides, and phenolic compounds in addition to sucrose. Along with antioxidants, maple plant-based water contains calcium, potassium, and zinc. Further, various development is also driving the plant-based water industry. For instance, in June 2021, Maple 3 introduced a new range of Ecocert-certified organic sparkling maple waters in three different flavors
Rising demand for organic plant-based water
As consumers are becoming more aware of their health, they are avoiding beverages with sugar and added preservatives which has contributed to the growth in demand for organic plant-based water. Owing to this major manufacturers are focusing on product innovation. For instance, Green-Go offers zero-calorie cactus water which is derived from Nopal cactus. Tiana Fair Trade Organics and DashOrganics are some of the other key players that focused on offering organic drinks.
Growing innovation in flavored plant-based water
Plant-based water is present in the flavored and unflavored category. Flavored plant-based water is anticipated to grow steadily during the forecast period, as many companies are introducing new flavors for the water. For instance, lime, ginger, rose, and green tea are some of the assorted flavors available in the plant-based water industry Flavored plant-based water is formed from the blend of two or more flavors. The trend for different flavors is on the rise and hence will impact the plant-based water market. Unflavored plant-based water is anticipated to grow at a set pace, as some consumers prefer natural flavors that come with coconut or maple water.
The market for plant-based water is expected to expand gradually in the Asia Pacific region.
Asia-Pacific is anticipated to dominate the plant-based water industry globally owing to the growing consumption of branded and packaged coconut water. This consumption growth is due to the high production rate of coconut in countries like India and Indonesia. North America being an emerging market for organic sourcing and natural flavours is anticipated to be the second largest growing plant-based water market. Busy lifestyles and a growing working population is the major driving factor for the growth of plant-based water consumption in the United States.
Key market player strategies
The demand for plant-based water has increased recently as major competitors are focusing on product innovation such as adding new flavors in the plant-based water. Emphasis is given on merger and acquisition which leads to plant-based water market growth and the strategic approaches taken by leading companies to boost their brand presence among customers. Further, many manufacturers are strengthening their distribution relationships with firms to leverage the customer base for future product launches.
Plant-based water products
- Steaz Cactus Water, Steaz launched cactus water that blends cactus water with RTD tea.
- Sibberi Tree Water, Contains maple water and bamboo water and has 4 times less sugar than coconut water.
- Tapped Birch Water, an Organic drink tapped from the Finnish forest. This drink has no added sugar or sweeteners.
- Coconut Beach was launched by a California brand that retails at less than 99c.
Market Key Developments
- In April 2023, B Natural, a juices and beverages brand of ITC, introduced packaged tender coconut water in India
- In December 2022, Steaz introduced Cactus Water, a ready-to-drink beverage with high nutritional value.
- In July 2022, Kalbe Pharma launched Hydro Coco, coconut water with vitamin D3. It offers 600 IU of vitamin D3 which helps improve immunity.
- In June 2022, Vita Coco, a coconut water brand, launched its first Ready-to-Drink juice.
- By Type
- By Product
- By Packaging
- By Distribution Channel
- Convenience Stores
- Online Sales
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. PLANT-BASED WATER MARKET, BY TYPE
6. PLANT-BASED WATER MARKET, BY PRODUCT
7. PLANT-BASED WATER MARKET, BY PACKAGING
8. PLANT-BASED WATER MARKET, BY DISTRIBUTION CHANNEL
8.3. Convenience Stores
8.4. Online Sales
9. PLANT-BASED WATER MARKET, BY GEOGRAPHY
9.2. North America
9.2.1. United States
9.3. South America
9.4.1. United Kingdom
9.5. The Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Market Share Analysis
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.1. JUST Water
11.2. AquaBotanical Water
11.3. Bottle Up
11.6. Drink Soma
11.7. Ocean Beverages
11.9. Noumi Limited
11.10. Harmless Harvest
|Report Name||Published Month||Get Sample PDF|
|Sparkling Water Market Size & Share: Industry Report, 2022 – 2027||Sep 2022|
|Bottled Water Market Size & Share: Industry Report, 2022 – 2027||Sep 2022|
|Consumer Water Purifier Market Size: Industry Report, 2022–2027||Sep 2022|
|Global Freshwater Fish Market Size: Industry Report, 2021–2026||Jun 2021|
|Functional Water Market Size & Share: Industry Report, 2023-2028||Feb 2023|