According to Beverage Industry, sales of alternative waters increased by 21 percent in 2016 to more than $2.7 billion.
Alternative waters are waters that are derived from plants or plant-based products. Zenith Global, London, a leading food and drink consultancy, estimates that sales of these waters will double by 2020, to the tune of $5.4 billion. Much of the current growth is fueled by coconut water, which accounted for 96 percent of volume and 86 percent of value in 2016.
“North America offers the greatest potential for innovation in natural flavors and organic sourcing,” says Portia Rifat, Zenith senior market analyst.
Zenith forecasts that the global market volume for alternative waters will approach 1,900 million liters by 2020. Brands will look to capitalize on this growing trend by offering premium and organic plant waters.
These alternative waters, which are offered through major global beverage leaders such as Coca Cola Co. and PepsiCo, will continue to make their way to retailers across the country.