The global Sparkling Water Market is experiencing a significant surge, driven by health-conscious consumers seeking alternatives to sugary beverages. Valued at USD 46.97 billion in 2024, the market is projected to reach USD 116.30 billion by 2032, growing at a CAGR of 12% .

Leading Companies in the Sparkling Water Market

According to Maximize Market Research, the top five companies dominating the sparkling water market are:

1. PepsiCo (U.S.): With its Bubly brand, PepsiCo has made significant inroads into the sparkling water segment, appealing to younger demographics with vibrant flavors and marketing.

2. Nestlé S.A. (Switzerland): Nestlé's portfolio includes Perrier and San Pellegrino, both renowned for their premium sparkling mineral waters.

3. The Coca-Cola Company (U.S.): Coca-Cola offers a range of sparkling water products, including Dasani Sparkling and Topo Chico, catering to diverse consumer preferences.

4. CG Roxane, LLC (U.S.): Known for its Crystal Geyser brand, CG Roxane offers a variety of sparkling water options sourced from natural springs.

5. Tempo Beverage Ltd (Israel): Tempo Beverage is a key player in the Israeli market, offering a range of sparkling water products under various brand names.

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Recent Mergers and Acquisitions

The sparkling water market has witnessed strategic mergers and acquisitions aimed at expanding brand portfolios and market reach:

• In March 2025, PepsiCo announced the acquisition of poppi, a Texas-based prebiotic soda brand, for $1.95 billion. This move aims to diversify PepsiCo's beverage offerings and tap into the growing demand for functional beverages .

• In early 2025, Spindrift, a flavored seltzer maker, was reportedly sold to a private equity firm for $650 million, highlighting the increasing interest in the sparkling water segment .

Innovations and Developments

Innovation remains at the forefront of the sparkling water market:

• In March 2025, PepsiCo launched Bubly Burst, a new line of sparkling water available in various fruit flavors. The product aims to provide a healthier alternative to sugary sodas, featuring zero calories and no added sweeteners .

• Spindrift introduced a new soda line just a month after its acquisition, signaling the brand's commitment to expanding its product offerings and catering to evolving consumer tastes .

Investments and Funding

Significant investments have been made to bolster the sparkling water market:

• In March 2024, Liquid Death, a Los Angeles-based canned water brand, raised $67 million in a financing round, valuing the company at $1.4 billion. The funds are intended to support the company's growth and expansion plans .

• In January 2024, Sanzo, a New York-based Asian-inspired sparkling water brand, raised $5 million to expand its product line and distribution network .

Conclusion

The sparkling water market is poised for substantial growth, fueled by health-conscious consumer trends, strategic partnerships, and increased investments. Leading companies are focusing on innovation and expansion to meet the evolving demands of the market. As the industry continues to evolve, stakeholders can expect a dynamic landscape characterized by increased competition, innovative solutions, and a focus on sustainability and health-oriented products.