April 01, 2020
According to the research report titled ‘Europe Plant-based Water Market Share By Product, Flavor Variant, Pack Type, Distribution Channel, Regional Outlook, 2017–2024’, available with Market Study Report LLC, Europe plant-based water market is expected to amass USD 3.5 billion by the year 2024.
Plant-based water is convenient, functional, and natural. These plants provide water having nutritional content without compromising on the taste. Shifting preference for performance & nutritional drinks owing to changing dietary habits is fostering the demand for plant-based water products in Europe. Rising concerns regarding the adverse effects of alcoholic beverages and aerated drinks and growing inclination towards low calories and naturally sweetened beverages are further aiding the market expansion. However, complexities associated with distribution channels and limited time for consuming such products after seal break may impede the growth of Europe plant-based water industry.
As per the product type, birch and maple segments are presumed to expand substantially during the projected timeframe. Growing inclination towards such products in Scandinavian and eastern European regions is fueling the segmental growth.
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In terms of distribution channel, Europe plant-based water market share from retail stores is expected to grow by more than 20% over 2017-2024, primarily due to easy accessibility and availability of the wide range of plant-based water products.
Considering the geographical landscape, the UK and the Nordic countries together hold 40% share in Europe plant-based water industry presently. Advancements in tree saps collection technology to produce plant-based water and increasing harvesting activities of birch sap in countries such as Finland, Sweden, Denmark, and Norway are promoting the business scenario.
The established companies in Europe plant-based water industry are Vertical water, happytree Maple Water, Sibberi, Nordic Koivu, BelSeva, Oviva Maple Water Co., The Coca-Cola Co., PepsiCo Inc., and ARTY Artichoke Water.
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