While there are several chronic diseases of which the real cause is fairly unknown, obesity has turned into a concern that is mostly self-inflicted. According to the World Health Organization (WHO), the worldwide obesity has nearly tripled since 1975, and as of 2016, more than 1.9 billion adults were within the category of overweight, with 650 million of them considered obese.
Thankfully, rigorous research has resulted in the advent of several measures that help in reducing unwanted fat from human body, with diet water one of such ways to lose weight, speeding up metabolism, and gaining energy for daily activities. As per the projections of a recent business intelligence report by Transparency Market Research (TMR), the demand in the global diet water market will increment at a formidable CAGR during the forecast period of 2016 to 2024.
The prosperity of the diet water market can be attributed to the radical penetration of social media in the past decade, which has spread the awareness regarding the benefits of these specialized drinks like never possible before. Water constitutes for a liquid that is consumed on a regular basis by all and with increased disposable income, urban populations are willing to spend extra bucks on diet water that, apart from serving water needs, helps them in enhancing metabolism and losing fat.
Developed Countries Primary Demand Territories
Currently, the market for diet water is confined within the developed countries residing within North America and Europe. Residents of countries such as the U.S., Canada, France, Germany, the U.K., Italy, and Netherlands have had a prosperous life style with substantially greater disposable income and, obesity is a major concerns owing to the food habits. In the near future, the diet water market is expected to continue gaining the greatest share of demand from these two regions, however, vast populated countries of China and India are expected to create lucrative new opportunities for the vendors operating in this market. Urban populations are expanding in both these countries and the emphasis is on healthy living. As the trend continues, substantial demand is expected to be cultivated out of them.
Consistent improvements to the product portfolio made by the leading vendors is another driver of the global diet water market. Major players such as The Coca-Cola Company, Nestle Waters, Sapporo, Skinny Water, Propel Water, Groupe Danone, Mountain Valley Spring Company, Monster Beverage Corporation, Diageo Plc., Q Drinks, Powell And Mahoney LLC, White Rock Products Corp., Fevertree Drinks PLC, East Imperial Superior Beverages, JACK RUDY COCKTAIL CO., MBG International Premium Brands GmbH, Boylan Bottling Co Inc., Sygama SA, Bradley’s Tonic Co., and Luscombe Drinks are investing on developing new products as well as generate awareness in order to gain greater shares. That being said, substantially higher costs and strong lack of awareness is curtailing the progress of this market.
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Based on product type, the diet water market can be segmented into glass bottles, PET bottles, and others, whereas distribution channel bifurcation of the market can be done into grocery stores, drug stores, convenience stores, hypermarket, and others.