BANGALORE, October 14, 2015 /PRNewswire/ --
Mordor Intelligence releases their report on the Global Water Enhancers Market. The report elucidates the situation of Global Water enhancer market, with region specific assessments and competition analysis on a global and regional scale.
Globally, the beverage industry is seeing a shift in consumer trend, with more and more consumers rejecting carbonated drinks and looking for alternatives in the form of bottled water. To make the plain water interesting, while offering a healthy low/zero calorie hydration was a major blue ocean space for marketers. Kraft's Mio brand, arrived in a tiny water droplet-shaped plastic bottle providing 24 servings in early 2011, to address this unmet need. Mio, which captured 25% of category volume share in the first year of launching, saw a catalytic effect on its brand share, supported by its strong marketing. This opened the market for Liquid water enhancers. Today, the market is flooded with brands such as Skinnygirl, Minute maid drops, Dasani drops, Sweet leaf sweet drops, Nestea, and expanding line of Mio among others.
Water enhancers were created with portability in mind, addressing the rising 'on the go' consumer lifestyle trend. A considerable spike in obese populations was witnessed in the western countries resulting in a subsequent rejection of fizzy drinks due to health awareness. However, countries like Mexico, Russia and other mid income countries are overtaking America in the consumption of carbonated soft drinks (CSD). The fitness fad which is sweeping global consumer is subsequently resulting in the declining CSD's and spike in the per capita consumption of bottled water and other non-carbonated beverage. The demand for low calorie and low sugar drinks is increasing among the fitness enthusiasts and sports athletes, thus driving companies to market DIY category of flavors, colors, syrups, powders, for application in bottled water. The sales of the bottled water are a major driver, for the surge in liquid water enhancers.
Get the Full Report Here: Global Water Enhancer Market
Unclear positioning of the 2 inch premium bottles is seeing contradictory settings in terms of: 'on the go' products to 'home stored' products, value proposition of the chemical ingredient enhanced drops, and the low awareness on the amount of drops to be added to tap/bottled water. The huge potential in this market is challenged by research studies questioning the safety standards incorporated in this product category. The label ingredients which include artificial sweeteners, preservatives and a splash of vitamins & electrolytes have garnered a negative perception among the consumers on the carcinogenic properties associated with the ingredients. Companies are countering on the acceptable limits incorporated in the production. The role of FDA is questioned in the approval of marketing of products.
The market continues to see consumer demand for customization, flavor variety and convenience. A blend of flavors are being introduced in the flavor customization category, and 100% all natural and Non - GMO based ingredients are being considered by players. Consumer negative perception on artificial ingredients have opened potential in the 'natural' segment of liquid water enhancers.
Product differentiation is the key factoring point for marketers to widen their market space beyond United States. While US rides on the trend of flavors and 'mouth fee', the European consumer ride on the provision of functional aspects. Countries like United Kingdom, U.S, France, Germany, Italy, Australia and China are the most potential markets with their growing consumer base demanding functional beverages, thus driving the demand for water enhancers. The target audience are projected to be the millennial male aged 18-24 years, as they are early adapters. Competitors are targeting women with new products with functional benefits. For marketers to capture the untapped markets of Asia-pacific, South America where the consumer awareness is low, the growth of the market is largely dependent on the extensive marketing and consumer engagement strategies of the corporations.
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SOURCE Mordor Intelligence LLP