Asia Pacific An Opportune Market For Sparkling Water

Thursday, December 1st, 2016 | 781 Views

Accounting for 15.3 percent of the global sparkling water market at the moment, the Asia Pacific market is forecast to grow at a CAGR of 3.67 percent through 2020, reports Technavio.

This rapid growth for sparkling water in Asia Pacific is attributed to its rising popularity by consumers over conventional soda drinks. Becoming increasingly health conscious, Asian consumers now prefer flavoured and unflavoured sparkling water compared to sugar carbonated soft drinks.

The growing prevalence of obesity globally and in children too, as well as for associated health issues from high consumption of soft drinks and fast foods are also drivers for the growth of the sparkling water market.

In addition, especially with Asia, due to rising contamination levels in drinking water, bottled water is a popular choice with consumers as it can be guaranteed to be clean, purified, bacteria-free, and safe.

These factors are prompting vendors across the world to innovate with attractive branding and products with individualistic identities.

According to the market researcher, the global sparkling water market will grow at a compound annual growth rate of more than three percent between 2016 and 2020.

Great growth is expected to be seen for the sparkling water market in Asia, with the rising disposable incomes of the emerging markets being a key driving force, especially in Southeast Asia. This is helping to boost sales of carbonated water and bottled water, and with the middle class predicted to comprise some 400 million people in 2020, spending on bottled sparkling water is expected to rise.