A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the US enhanced water market was worth USD 2,131.0 million in the year 2020. The data yielded by the study reveals that the market is further estimated to grow at a CAGR of 8.1%, earning revenue of around USD 3,554.0 million by the end of 2027. The increasing demand for enhanced water in the US can be attributed to the growing health awareness and the need for additional nutritional supplements in the body due to a busy lifestyle. Additionally, manufacturers are offering a diverse range of products in a variety of flavors and nutrition to meet the needs of various demographics, which is propelling the U.S. enhanced water market forward.
The Emergence of Online Distribution Channels Is Boosting the Growth of U.S. Enhanced Water Market
The supermarkets and convenience stores are the leading distribution channels for enhanced water. However, after the COVID-19 outbreak, the manufacturers of enhanced water started focusing more on building their online presence. These manufacturers made their product portfolio available on popular websites like Amazon, Whole Foods, Target, etc. Furthermore, several companies are also investing in building their websites. For instance, the Alkaline Water Company launched their website called ‘Alkaline88 (.) com’ from where the consumers can buy their products easily.
Launch of Wide Range of Products by Manufacturers Is Propelling the Growth of The U.S. Enhanced Water Market
Consumer tastes and preferences are constantly changing and therefore, if a company wants to sustain itself in the market for a long time, they need to launch products matching the current trends and tastes prevalent in the market. Therefore, manufacturers are increasingly investing a significant amount in R&D activities to develop enhanced water of various flavors and nutritional values. Furthermore, the brands also focus significantly on attractive packaging and advertisements to attract customers and create brand awareness in the market. These tactics adopted by the enhanced water manufacturers play a crucial role in the growth of the United States enhanced water market.
U.S. Enhanced Water Market –By End-User
Based on end-users, the U.S. enhanced water market is segmented into commercial and residential. The residential segment accounts for the largest market share, fueled by the increasing health consciousness among consumers and prevalent health and fitness trends, especially among the younger demographic. Furthermore, rising public awareness of the harmful consequences of dehydration on human health, as well as rising pollutant levels in potable water, are driving demand for enhanced water in the residential segment. However, the commercial segment is also expected to grow at a high CAGR because of the growing demand for healthy and nutritious water in commercial spaces, such as offices, schools, etc.
Impact of COVID-19 on U.S. Enhanced Water Market
During the COVID-19 pandemic, the US enhanced water market remained afloat. Because of increased health awareness and expenditure among the US public during the quarantine period, the market witnessed significant chances for growth. Furthermore, the strong online distribution channel also supported the growth of the U.S. enhanced water market. Due to panic buying, there was a shortage of products in supermarkets/hypermarkets and other offline channels, resulting in a big demand and supply discrepancy.To tackle such issues, the manufacturers of enhanced water in the U.S made their products available through popular online channels like Amazon.com, which significantly proliferated the market growth.
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The leading market players in the U.S. enhanced water market are PepsiCo, Coca-Cola, H2rose, Just Goods Inc., Constellation Brands Inc., Montane Sparkling Water, Hint Water Inc., Supplying Demand Inc., Keurig Dr Pepper, United Breweries Limited, Karma Culture LLC, and other prominent players.
To enhance their product penetration in the market and expand their revenue share, industry participants provide a wide range of products with varied flavors and additional functional components.To attract more customers and build brand loyalty, these companies target diverse groups such as teenagers, working adults, and athletes, and offer items tailored to their tastes and preferences.
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