Plant-based alternative water is generally referred to as the drink made from plant source and is also known as infused water. Water is extracted and processed from various types of plants by different techniques. The food & beverage industries earlier introduced the extraction of liquid concentrate from fruits and have supplied them in the form of juices but the improved R&D has led to the development of alternative waters that is gradually replacing plain water in many parts of the world. Coconut water is the most particular type of plant-based alternative water that has been used since long in the market. Alternative water is being prepared from several fruits and trees imparting many health benefits to the consumers. The sources of plant-based water have recently increased.
Companies covered:
The Coca-Cola Company, PepsiCo Inc, Oviva, All Market, Caliwater, WTRMLN WTR, ARTY Water, Sibberi Tree Water, Happy Tree Maple Water, Harmless Harvest, Drink Simple, Steaz.
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COVID-19 Scenario Analysis:
The lockdown caused due to the COVID-19 pandemic, initially caused a loss in sales and revenue to the plant based alternative water market as the manufacturing units had to shut down, and also there was a shortage of manpower in the units.
The food & beverage industries were listed as essential businesses but the procurement of raw material became difficult due to the ban on import and export from certain countries.
The distribution channel such as retail stores and supermarkets were shut down to implement the social distancing and prevention of mass gathering, which led to a reduction in sales of alternative water.
The post COVID-19 scenario for the plant-based alternative water market is anticipated to be profitable as the consumer buying patterns have changed and they have been inclined toward healthy alternatives.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Alternative plant-based water such as coconut water has been used from an era and is considered to be healthy alternative. Earlier the alternative water was considered to be used by a niche market, but as the awareness has increased the consumers have known the alternatives available in the market. The food & beverage industries have been investing in the development of healthy and nutritious products that have a longer shelf life. The increased awareness and health consciousness among consumers, the use of natural fruit and plant sources, attractive packaging, investment in innovation, increased disruption and competitiveness in dairy and meat industries, the popularity of vegan nutrients and diets, environmental and global warming concerns, a wide range of flavor and color in the drinks and new product development drive the growth of the global alternative waters (plant-based waters) market. However, availability of the alternative beverages, product life cycles, and increased competition in the sector hinder the market growth. Contrarily, investments in launching alternative products in several countries, increase in R&D, and processing of numerous variants present a new pathway in the global plant-based alternative waters market.
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The global alternative waters market trends are as follows:
Increase in benefits of the plant-based alternative water
The alternative plant-based food and beverages have created a new trend in the market. The awareness and increase in health consciousness among the consumers have shifted the trend toward healthy and nutritious diets which have presented the opportunity for leading beverage industries to develop new products in the market. The use of carbonated beverages has led to many health issues therefore the alternative source of hydration along with taste has become a necessity. The use of alternative waters has been known from an era but it was not processed in the industries earlier. The key brands have been improving the flavor of the plant-based alternative waters and are also focused on enhancing the nutrition value of the product by certain electrolytes, antioxidants, probiotics, vitamins, minerals, amino acids, and others. Oviva, a leading brand has launched the maple based alternative water, which is free from preservatives, contains a low amount of sugar, and has a shelf life of about 18 months at room temperature. The key players in food & beverage industries such as Coca-Cola and PepsiCo have also launched their brands for plant-based water as a healthy alternative.
The use of plant-based alternative water is not only limited to direct consumption but can also be further used as a water alternative ingredient in the preparation of a variety of products such as bakery and confectionery.
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Key Benefits of the Report:
This study presents the analytical depiction of the alternative water (plant-based waters) industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global alternative waters (plant-based waters) share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global alternative waters (plant-based waters) growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global alternative water (plant-based waters) analysis based on competitive intensity and how the competition will take shape in the coming years.
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