As water scarcity becomes a problem even for developed economies, a billion-dollar market is growing in the Western world around drinking water. It is not just bottled water: a range of products is seeking to turn hydration into a distinct category built around a commodity that, in its basic form — from the tap — remains cheap.
Austria’s Waterdrop operates in this market and is preparing to enter Greece, with Patrick Mouratoglou among the shareholders of its Greek company, according to executives. Instead of ready-to-drink bottled beverages, it sells small cubes that dissolve in water, adding flavour without sugar. Its product range also includes reusable bottles and accessories.
With annual sales of around €150m, Waterdrop operates in the water enhancer category, a market that Mordor Intelligence estimates will reach $4.25bn this year and $6.65bn by 2031.
The growth of this category coincides with Waterdrop’s efforts to strengthen its international presence. The company has said that it became profitable last year and raised €100m in funding in 2026.
The company also says it has around 5 million customers, employs 400 people and is present in 25,000 retail outlets worldwide, as well as operating nearly 70 branded stores.
Greece is part of this expansion. Waterdrop Hellas IKE was established in August, with Austria’s Waterdrop Microdrink GmbH and Waterdrop Adriatics GmbH as shareholders. Patrick Mouratoglou is also involved, according to company executives, although his stake has not been disclosed. The renowned tennis coach has a business presence in Greece through the Mouratoglou Academy, including at Costa Navarino.
Waterdrop’s commercial operations in Greece are scheduled to begin on 30 October, with the launch of an online shop and an introductory product price of €8.99. Plans include opening three physical stores in Attica, followed at a later stage by expansion into Thessaloniki.
For distribution, Waterdrop has chosen to partner with VETO S.A., which has been importing and selling international sports brands since 1974, including FILA, Arena, Babolat and Saucony. The company is also considering supplying its products to hotels and food-service businesses.
Beyond its commercial offering, the company highlights reducing the use of plastic bottles as a key advantage. It says its cubes require up to 98% less plastic packaging than a conventional 500 ml PET bottle.
Waterdrop also says that, through its partnership with Plastic Bank, it had funded the collection of plastic waste equivalent to 31.5 million bottles by July 2026. To put that figure into perspective, one international estimate puts global production of plastic drinks bottles at more than 580 billion a year.
Based on earlier data on the use of PET packaging, 35% is used for bottled water. Applying that share to the estimate above would imply more than 200 billion bottles a year.