Global Alternative waters (Plant based waters) Market is valued at approximately USD 5.97 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 19% over the forecast period 2022-2029. Plant-based alternative water also known as infused water is water extracted from different types of plant-based sources. Plant based water is extracted through different techniques from a wide range of plants such as Coconut, Aloe Vera, Cactus Water, Birch Water, and Maple Water among others. Plant based water offers various health benefits, Coconut water is considered rich in calcium, vitamin C, magnesium, and amino acids. Moreover, Birch and Maple Water are rich in vitamin B2, calcium, potassium, and manganese. The application of plant-based water improves the digestive system, promotes weight loss, and works as a natural deodorizer for the human body. The increasing consumption of plant-based drinks and rising number of health conscious individuals as well as strategic initiatives from leading market players are key factors accelerating the market growth.
The increasing demand for plant-based drinks is a key factor contributing to the growth of the Global Alternative waters (Plant based waters) Market. For instance, according to Good Food Institute (GFI)’s estimates – in 2019, the sales of Plant-based ready-to-drink beverage in the United States was valued at USD 122 million, and the sales further increased to USD 137 million in 2020. Moreover, in 2020 more than 41 million units of plant-based ready-to-drink beverages were sold in the USA. Also, growing prevalence of lifestyle diseases and rising emergence of online distribution platforms would create a lucrative growth prospectus for the market over the forecast period. However, the high cost associated with plant-based waters and availability of alternative beverages hinder the global market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Alternative waters (Plant based waters) Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of global market share owing to increasing demand for plant-based beverages as well as presence of leading market players in the region. Whereas Asia Pacific is expected to grow at the highest CAGR during the forecast period, owing to factors such as rising number of health-conscious individuals, growing penetration of quick-service restaurants, and increasing incidences of lifestyle diseases in the region.
Major market players included in this report are:
The Coca Cola Company
Sibberi Tree Water
Happy Tree Maple Water
Recent Developments in the Market:
In January 2019, Yonale Birch Water launched its new range of packaged birch water. Moreover, Yönalé Birch Water is certified USDA Organic, non-GMO, paleo-friendly, keto-friendly and doesn’t contain added water or preservatives. Each bottle of birch water contains only 3g of sugar.
In September 2020, Denver, USA based Caribe Juice acquired WTRMLN WTR. WTRMLN WTR is a leading manufacturer of cold-pressed juiced watermelon beverages. This acquisition would enable Carbide Juice to strengthen its cold-pressed beverages portfolio.
Global Alternative waters (Plant based waters) Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, Application, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
Rest of the World