Water Enhancer Market Growth & Trends
The global water enhancer market size is expected to reach USD 5.84 billion by 2030, registering a CAGR of 9.8% during the forecast period, according to a new report by Grand View Research, Inc. Increasing awareness and adoption of a healthy lifestyle including daily intake of nutritious drinks across the globe act as the major driving force for the industry growth. Moreover, the significant changes in the flavored and healthy water consumption patterns of consumers, especially during the lockdown period, across the globe further contributed to the industry growth. The other factors that drive the market include the growing demand for sports nutrition-based water enhancers. During the COVID-19 pandemic, product sales decreased due to the shutdown of offline retail chains, such as supermarkets, hypermarkets, and convenience stores, across all regions to prevent the spread of the COVID-19 virus. Moreover, the disruption in the supply chain including the import and export further impacted the market during the pandemic.
A significant decline in the import of flavored water-based enhancers in developed economies, such as the U.S., U.K., and Germany, impacted the industry growth during the COVID-19 pandemic. The non-nutritional product segment contributed to a larger revenue share in 2021. The market is mainly driven by the significant demand for water enhancers for flavor and color. Moreover, the availability of various flavors and ingredients in this product category contributes to the larger share of this segment. The nutritional product segment is projected to grow significantly during the forecast period due to the rising demand for healthy beverage products in developed economies. The industry is also analyzed on the basis of the form including liquid and powder. The liquid form segment held the largest market share in 2021.
A rise in the adoption of liquid water enhancer products owing to the convenient packaging is one of the major driving factors that contributed to the market growth. The key manufacturers in the market are mainly offering the liquid form-based water enhancer in flexible and convenient packaging. The powder segment is projected to grow significantly over the forecast period due to the rising focus of emerging companies on launching new products in powder form.
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Water Enhancer Market Report
Water Enhancer Market Report Highlights
- North America held the largest revenue share in 2021 due to the popularity of nutritious water enhancers as a suitable healthy diet option for all age groups
- Europe accounted for a significant revenue share in 2021 and is expected to grow at a steady CAGR from 2022 to 2030
- Significant growth in the sales of sports and energy water enhancers in Belgium and Italy contributed to the market share
- The rising awareness about healthy water intake in the U.K., Germany, and France will drive the region’s growth during the forecast years
- In addition, the marketing of energy drink mixes products through social media and endorsement by celebrities & athletes further boosts the demand for nutritious water enhancers in this region.
- The online distribution channel segment is expected to register the fastest growth rate during the forecast years
- This growth can be credited to the significant focus of major manufacturers on adopting technologically advanced e-commerce technology to boost their product sales
- Manufacturers are increasingly preferring door-step delivery with nominal tenure by using the online sales platform and mobile application, which also helps customers track the orders.
