As per industry analysis by Fact.MR, a market research and competitive intelligence provider, the global water enhancer market is estimated to exceed a valuation of US$ 2.9 Bn by 2022, and expand at a significant CAGR of 9.4% by value over the assessment period (2022-2032).
The sober-curious and health-conscious population are together driving demand for healthful and nutritious beverages. The hit of the contagious COVID-19 pandemic also infected people with increased health literacy, guiding better lifestyle choices among the population.
Water enhancers are thus gaining popularity due to their flavour and added health benefits. Increasing urbanization and sedentary lifestyles have increased dependence on health supplements. This growing dependence will underpin the growth of the water enhancer market.
Furthermore, sourcing water enhancers from organic raw materials have enhanced both, nutrition content and environmental sustainability, making them a choice for a wider population. Thus, the shift to organic raw materials and multivitamin fortification has been a key driver of the water enhancer market.
Key Takeaways from Market Study
- Flavoured water enhancers are expected to garner an absolute $ opportunity of nearly US$ 2.3 Bn over the forecast period.
- Sweeteners, under active ingredients, are is projected to grow 2X during forecast period, while vitamins are expected to continue their dominance.
- Based on end use, sports drinks are projected to dominate the water enhancer market by accounting for 30.5% market share by 2032.
“Water enhancer market expected to generate absolute $ opportunity of US$ 4.4 Bn by 2032, led by vitamin-fortified drinks,” says a Fact.MR analyst.
Winning Strategy
The water enhancer market is a fragmented space governed by intense competition among leading players. Each player is aiming to enhance its market position by introducing quality products with a blend of organic and/or natural raw materials. Secondary market players are focusing on regional dominance and acquiring smaller companies to enhance their export volumes.
Integration of brand-owned retail channels has also been a key strategy of manufacturers to increase their profit margins. Eliminating intermediaries increases supply chain efficiency and decreases product cost.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global water enhancer market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (flavoured, energy/fitness, workout), form (powder/mixes, liquid concentrates, drops, tablets), active raw material (vegetables, tea leaves, coffee beans, coconuts, others), active ingredient (vitamins, electrolytes, anti-oxidants, sweeteners), end use (sports drinks, supplements drinks, household drinks, medicinal drinks, others), packaging (sachets, bottles, droppers, packs), and distribution channel (offline retailers, online retailers), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, MEA).
Fact.MR’s Domain Knowledge in Food and Beverages Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Food and Beverages team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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