Flavored Water Market Outlook
Flavored Water Market has witnessed continued growth over a previous couple of years and is projected to succeed in USD 29.2 Billion by 2028 at a CAGR of 10%. Flavored water is carbonated or still water enriched with different flavors. The addition of flavors in beverages has led to increased intake.
Flavored water is r infused with fruits, vegetables, and herbs. Rising awareness of the importance of health and wellness has resulted in the growing adoption of healthy lifestyles. Increasing awareness about the advantages of water consumption over sugar-sweetened beverages is additionally boosting the demand for flavored water within the market.
The preference for products with low sugar and calorie content and no preservatives, chemicals, or artificial additives is increasing. Hence, the main target on health consciousness is directly fuelling the demand for flavored water across the world. Product innovation and promotion and rising demand for natural and clean-label beverages have created a good range of opportunities for manufacturers of flavored water.
Key Players
Market Research Future recognizes PepsiCo, Inc. (the US), The Coca-Cola Company (US), Crystal Geyser Water Company (US), Hint Inc. (US), Nestlé S.A. (Switzerland), The Kraft Heinz Company (US), Danone S.A. (France), Keurig Dr. Pepper (US), Talking Rain Beverage Company (US), and Polar Beverages (US) as the Key Players active in the Global Flavored Water Industry.
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Segmental Analysis: The Global Flavored Water Market has been segmented based on Type, Packaging Type, Distribution Channel, and Region.
Based on type, the global market has been divided into carbonated and still. In terms of revenue, the carbonated segment dominated the global Flavored Water Industry in 2018. However, the still segment is projected to register a higher CAGR of 7.8% during the forecast period. Still, flavored water is obtained from a variety of sources such as groundwater from wells, protected springs, or public water supply and is considered better than carbonated water.
By packaging type, the market has been categorized as bottles, cans, and others. The bottles segment garnered the largest share of the global Flavored Water Market in 2018. The convenience offered by bottles makes them a popular choice among consumers. However, the cans segment is expected to register a higher CAGR during the forecast period.
Based on the distribution channel, the global Flavored Water Market has been classified as store-based and non-store-based. The store-based segment has further been divided into supermarkets hypermarkets, convenience stores, and others. In 2018, the store-based segment accounted for the larger revenue share of the market with supermarkets hypermarkets being the largest sub-segment. The growth of the retail sector is the major driving factor for the growth of the segment. The non-store-based segment is projected to exhibit a higher CAGR during the forecast period.
Regional Analysis
Geographically, the global Flavored Water Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America dominated the market, accounting for the largest market share of nearly 39% in 2018. However, the Asia-Pacific Flavored Water Market is expected to register the highest CAGR of 8.1% during the forecast period.
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