Study: Diet water market estimated to grow “exponentially”
By Canadian Vending
By Canadian Vending
Global Diet Water Market is estimated to expand at a substantial CAGR by 2023 as product types and its applications are increasing across the globe, according to Radiant Insights, Inc.
Diet water can help consumers reduce the fat content existing in their body, as normal water contains zero calories and zero grams of fat. On consuming, diet water claims to be comprised of peptide bonds that enters the bloodstream and burns the fat cells.
Leading key players operating in the diet water market include:
- Mountain Valley Spring
- Groupe Danone
- Coca Cola, Sapporo
- Nestle Waters
- Skinny Water
- Diet Aqua
- Propel Water
The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost inorganic growth of industry.
Factors, such as attractive packaging of diet water, increase in the middle-class populace, increase in disposable income, and surge in marketing activities to promote the product sales, and technological advancement are likely to drive the diet water market in the forthcoming period. On the other hand, high cost and lack of awareness due to less availability is anticipated to hinder market growth in the future. However, rapid urbanization and industrialization likely to create lucrative opportunities for the market.
Diet water market is segmented as type, distribution channel and geography. Market of diet water is segmented by type as Glass Bottles, PET Bottles, and Others. Market of diet water is segmented based on distribution channel as Super/Hypermarket, Convenience Stores, Grocery Stores, Drug Stores, and Others. Application category for market comprises skinny water, fitness water and Mio (powder and liquid water enhancer).
The “Super/Hypermarket” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.
North America is a leading region in the market of diet water.It is likely to maintain a dominance in the forecast period owing to factors, such as increasing demand, technological advancement and rising health awareness among consumer. North America is followed by Europe and Asia-Pacific region.