GLOBAL WATER ENHANCER MARKET- Growth, Trends and Forecasts (2015-2020)
The search for making beverages like water more flavored and nutritious without carbonation like soft drinks continued post 2010. Formulations that promise to add flavor, and additional nutritional benefits to the water without any carbonation are called water enhancers. The global water enhancer market had revenue of $1.541 billion in 2015 and is expected to reach $ 2.83 billion by 2020 with an estimated CAGR of 12.8%
A considerable spike in obese populations was witnessed in the western countries resulting in a subsequent rejection of fizzy drinks due to health awareness. Rapid industrialization resulted in mass production of beverages, which upon further backing up by alluring marketing, stemmed in a significant expansion of consumer base for health improving foods and beverages globally. Even the changing consumer preference towards flavored drinks had driven the water enhancer market.
Lack of stringent regulations from the regulatory authorities such as FDA, ESFA, compliance with the manufacturing practices by producers and safety concern among the consumers due to the lack of scientificity for the product are the major constraints for the sector.
Production of beverages had advanced technologically during the past 10 years. This was further backed up with extensive scientific research resulting in the discovery of new active ingredients. With their highly anticipated benefits, water enhancers ensure a great scope of application in health care sector, creating a prospect for a prolific venture.
Water enhancers are available in the form of flavored, energy and fitness drops in the market, each claiming unique benefits. Out of all, Energy drops due to their demand amongst the athletic and fitness-oriented consumers constitute over 60% of the entire product range. Recently, new products such as weight management and skin rejuvenating formulae have also been introduced into the market.
Vitamins, electrolytes, anti-oxidants and sweeteners are the major active-ingredients employed in the enhancers, with vitamins and electrolytes alone composing over 64% of entire product range. Majority of these ingredients are extracted from fruits, vegetables, with over 63% of market share. Other source for raw materials include tealeaves, coffee beans and recently even coconut water.
North America dominated the sector with 38% of market share followed by Europe with 32%. 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 of 15.2% during the coming 5 years.
Arizona Beverages USA, PepsiCo, The Coca-ColaCompany, Nestle and Kraft foods are the major players in the sector. These companies with their constant expansion of production capacities and product range with a backed up charming marketing strategy have gained a sizeable consumer demand and are progressing accordingly. Start-ups should focus on efficient supply chain moderations to compete with the big players. In a nutshell, with both major and new players actively contesting for supremacy, the global water enhancer market is anticipated to grow securely during the next 5 years.
Key Deliverables in the Study
Market analysis for the Report title Global water enhancer market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market shares.
Identification and analysis of the macro and micro factors that affect the Report title Global water enhancer market on both global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.