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The plant-based water market size is projected to increase by USD 12.76 billion and the market size is estimated to grow at a CAGR of 19.64% between 2023 and 2028. The plant-based water market is experiencing significant growth, with numerous new product launches and marketing initiatives aimed at promoting these eco-friendly beverages. Companies are introducing innovative plant-based water options, such as coconut water, aloe vera water, and maple water, to cater to diverse consumer preferences. Marketing strategies include partnerships with health and wellness influencers, sponsorship of fitness events, and educational campaigns highlighting the environmental benefits of plant-based water. Packaging innovations, such as biodegradable bottles and eco-friendly labels, further enhance the appeal of these products to environmentally conscious consumers. In summary, the plant-based water market is thriving, with new product launches, strategic marketing initiatives, and packaging innovations driving growth and consumer interest.
The market shows an accelerated CAGR during the forecast period.
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The increasing awareness of the health benefits of the coconut water segment will increase the market growth. There is a rise in awareness of the high nutritional content of coconut products in countries such as the US, the UK, France, and Germany which is fuelling the growth of this segment. In addition, the demand for flavored coconut water is increasing at a high rate when compared to plain coconut water as consumers within the region often look for healthy and nutrient-rich beverages that have a refreshing taste. As a result, several players are blending coconut water with different flavors such as mango, passion fruit, chocolate, pomegranate, and others to make it a better-for-you beverage for consumers. Furthermore, players are trying to position coconut water as a functional beverage and raise overall awareness of its nutritional benefit among sportsmen and athletes to help grow its consumer base. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The offline segment is estimated to witness significant growth during the forecast period. This segment comprises supermarkets and hypermarkets, convenience stores, independent retailers, and specialty stores. In addition, supermarkets and hypermarkets have emerged as the most popular distribution channels for products, which is primarily attributed to the growth of the organized retail sector in developed and developing economies.
The offline segment was the largest segment and was valued at USD 3.33 billion in 2018.
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Moreover, some of the main factors that are fuelling the sales in this segment include the growing retail industry and the setting up of numerous new retail outlets. In addition, this segment offers consumers a wide range of products to choose from and provides them with the convenience of finding everything under a single roof. Furthermore, factors including discounted prices and a pleasant shopping experience due to the ambient store atmosphere and shelf displays are influencing consumers to buy from supermarkets and hypermarkets. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
North America is estimated to contribute 35% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing health consciousness among consumers is fuelling the growth of the market in North America. Therefore, consumers are switching from sweetened carbonated beverages to more naturally flavored beverages. In addition, new product launches and innovative packaging are some of the factors that are also acting as growth drivers for the market. Moreover, several players are currently focusing on flavored plant-based water to attract consumers looking for a mix of both health benefits as well as flavors in their beverages. Hence, several prominent players will be experimenting with flavors within plant-based water which is positively impacting the market in the region. Hence, such factors are driving the market growth in North America during the forecast period.
In the realm of hydration, plant-based waters stand out as a refreshing and nutritious alternative, offering safe and clean water derived from natural sources. Employing water filtration techniques such as filtration, UV disinfection, and ozone treatment, these beverages ensure the purity of consumable or drinking water while catering to the needs of diverse societies. Utilizing plant stems and extracts from flora like water lilies and white pine, plant-based water filters provide an eco-friendly solution for water purification, addressing concerns such as diarrheal infections. Popular among trekkers and health-conscious individuals, plant-based waters like coconut water and aloe water offer a regular drink option enriched with nutrition and trace amounts of essential nutrients, serving as a lower sugar alternative to routine drinks.
One of the key factors driving the market growth is the marketing initiatives to promote plant-based water. Several prominent players in the global market, such as All Market Inc, Coca-Cola, DRINKmaple, and others, are adopting integrated marketing strategies including promotional campaigns through newspapers, magazines, and social media such as YouTube and Facebook to increase the popularity of their offerings. In addition, players are launching various campaigns in different countries across the globe to enhance the growth of the categories by reminding consumers about the multiple nutritional benefits of these beverages. For instance, in September 2021, The Vita Coco Co. launched a social media and outdoor campaign, "Impossible to Hate", with the purpose of promoting and creating mass awareness of its product offerings. Hence, such factors drive the market growth during the forecast period.
A key factor shaping the market growth is the growing popularity in the food service sector. There is relatively low On-trade consumption of coconut water when compared to retail channel sales. In addition, the trend is expected to change as many restaurants and eateries in Western countries like the US and the UK have begun to offer packaged coconut water as a mainstream drink on their menus.
Moreover, several companies such as Starbucks Corporation have started selling in-house brands of coconut water like STARBUCKS Black Cherry Limeade Refresher with Real Coconut Water, Evolution Fresh Pineapple Coconut Water, and others. In addition, many food service chains will launch their in-house brands to entice consumers who prefer healthy beverages. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
Product recalls and product consistency issues are some of the key challenges hindering the market growth. The increasing number of product recalls due to issues such as microbial contamination at the packaging stage and poor product quality can pose a significant threat to market growth. In addition, even a single product recall issue can adversely affect a company's brand perception, which may lead to heavy monetary losses.
Moreover, some of the manufacturers have faced product recalls recently, causing consumers to be more cautious while purchasing such brands. For example, in 2015, ONE recalled its packed 11-ounce tetra-pack cartons due to the possible oxidation of the coconut water, leading to the formation of mold. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
1. Dairy Alternative Plant Milk Beverages Market: Dairy Alternative Plant Milk Beverages Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Japan, Germany, UK - Size and Forecast
2. Plant-based Meat Market: Plant-based Meat Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, Germany, Italy, France - Size and Forecast
3. Water Enhancer Market: Water Enhancer Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, China, Canada, Germany - Size and Forecast
The concept of plant-based water filters utilizes natural materials like plant xylem, coconuts, rice, and even yellow irises for filtration processes. Methods such as marsh plant filtration, jackfruit seed filtration, and Moringa seed purification demonstrate the diverse approaches to water purification using botanical resources. This innovation extends to aquatic plants and fruit peelings, such as banana peels, known for their ability to filter and purify water effectively.
In addition to filtration, plants like cilantro, birch, artichoke, and cactus contribute to the emergence of plant-based waters, offering trace amounts of nutrition and unique flavors while maintaining low sugar levels and calorie content. These beverages cater to various dietary needs, providing essential nutrients like sodium, potassium, calcium, and magnesium, promoting a balanced diet and supporting skin health and performance in the sports industry.
With applications in automated solutions for liquid collection and production, plant-based waters also appeal to consumers seeking flavor variants and alternatives to traditional fizzy drinks. They are rich in bioactive nutrients such as amino acids, antioxidants, phytonutrients, and fiber, beneficial for diabetics and those aiming to replenish electrolytes post-exercise. Available in online sales, retail stores, and cafes, these products meet the needs of individuals with hectic lifestyles looking for convenient yet nutritious hydration options.
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Plant-based Water Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.64% |
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Market Growth 2024-2028 |
USD 12.76 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
18.86 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Indonesia, India, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alibi, AquaBotanical Water, Caliwater LLC, Danone SA, Drink Simple, DuPont de Nemours Inc., Forager Project, Genius Juice, Glanbia plc, HappyTree Maple Water, Harmless Harvest Inc., Maple 3, Nestle SA, Nordic Koivu Ltd., Rebel Kitchen, Steaz, SunOpta Inc., Tetra Pak Group, The Coca Cola Co., and The Vita Coco Co. Inc. |
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Market dynamics |
Parent market analysis, market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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