The diet water market is a niche market because the product has a small portfolio and it lacks evidence for product endorsements. However, the product is gaining popularity as a catalyst for weight loss. It is believed that diet water is a flavor enhanced weight loss drink with a certain combination of ingredients that help in maximizing weight loss. This water is made up of specialized peptide bonds that burn fat cells after entering the bloodstream. Thus, the key growth driver in the global diet water market is the growing obese population. The global efforts by both public and private bodies to raise awareness in fighting obesity to prevent chronic diseases among people are also burgeoning the demands in the global diet water market. The application ecosystem for diet water is expanding as the product is gaining popularity in numerous geographical regions.
The global Diet Water Market size was $2 billion in 2018 and the demands in the same are projected to grow at a positive CAGR of 9.8% during the forecast period 2019 to 2025.
Geographical Analysis in the Global Diet Water Market
Diet water resonates as a luxurious commodity, and therefore, the product is majorly prevalent in developed economies. The North American region was observed as the most lucrative region in the global diet water market. The region was held accountable for the exceptional regional share of 51.61% during 2018. The major reasons that support the diet water market growth in North America are the high disposable income of a large population base, the heavy share of obese population, and increased awareness in the healthcare segment. The prevalence of obesity was 39.8% and around 93 million adults in the United States suffered from the same from 2015 to 2016. To add to the same, the prevalence of obesity among the children and adolescents was 18.5% and about 13.7 million were affected by the disease. On a global scale, 1.9 billion overweight people and over 650 million obese population was recorded in 2016. Thus, the skyrocketing volume of lifestyle disease is increasing awareness in the healthcare industry that is further poised to contribute to the diet water market. Moreover, the demands in the dynamically growing economies such as India and China holds promising growth prospects shortly. Strategic marketing and a varied product range that suits the taste priorities of the population could help the key players in the diet water market to expand. These regions are witnessing the rising prevalence of issues including obesity, diabetes, and other lifestyle diseases, protruding higher middle-class population and parallel growth of disposable income in the region are expected to collectively boost the demands in the diet water market.
The Sports Industry: Key Applicant End-User Industry
The sports industry demands the highest nutritional and healthy diets such as diabetic diet, clear liquid diet, gluten free diet, low fat diet, and renal diet among all other industries. Thus, the sector produces the highest demands in the diet water market. Also, the segment is projected to reflect growth at a double-digit CAGR of 10.31% during the forecast period. Popularity of sports events around the world is considered as a great platform for the sales of diet water. The companies manufacturing diet water often leverage on business strategies such as event sponsorship to expand the prevalence of their products. Also, these companies rely on popular players for brand endorsement which in turn increases the demands for the particular product. Diet water provides adequate hydration to the players along with added minerals that are encouraging the players to opt for diet water instead of plain water. Globally, the prevalence of sports events is incrementing on a considerate rate and this growth will simultaneously boost the opportunities in the global diet water market.
Diet Water Market Trends:
· Attractive and Sustainable Packaging: With growing concerns over the heavy usage of plastics in the packaging industry, the diet water packaging companies are looking affirmative in producing sustainable and environment-friendly packaging for diet water. The companies are also using recycled materials to develop diet water packaging. This effort is also boosting the demands in the diet water market on a moral scale. Additionally, the companies are looking for avenues to develop flexible and edible packaging solutions for fluids. The inception of flexible edible packaging will tremendously reduce the waste produced from plastic bottles.
· Vast Product Fleet: Top players in the global diet water market are producing flavored diet water to target audiences of different age groups. Diet water with added minerals is also one of the most popular products in the market which is driving the diet water market growth. Also, some of the companies are developing water enhancer liquids and tablets. These catalysts contain body-friendly enzymes and electrolytes which help in detoxing the body and provides essential nutrients to the body.
· E-Commerce: The e-commerce industry has become the biggest distribution channel for end-user products. With the growing prevalence of the Internet and online shopping, the supply of diet water has also increased through online channels. It is projected that the demands for diet water in sports events are the most profitable market playground in the diet water market.
Diet Water Market Competitive Landscape
The companies influencing the diet water market are Niagara Bottling LLC, Apollinaris, Aquapura, Lithia, Nestle Waters North America Inc., Persa, Mai Dubai, Malvern Water, Eden Springs Ltd., and Norland International Inc.
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