Flavored Water Market Forecast:
Flavored Water Market Industry has witnessed continued growth over the last few years and is projected to reach 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 drinking water 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 benefits of water consumption over sugar-sweetened beverages is also boosting the demand for flavored water in the market.
The preference for products with low sugar and calorie content and no preservatives, chemicals, or artificial additives is increasing. Hence, the focus on health consciousness is directly fuelling the demand for flavored water across the globe. Product innovation and promotion and rising demand for natural and clean-label beverages have created a wide range of opportunities for manufacturers of flavored water.
The Global flavoured water market is highly competitive with key industry players adopting various strategies such as product launches and acquisitions to strengthen their market positions. PepsiCo. Inc., The Coca-Cola Company, Nestlé S.A., Keurig Dr. Pepper, Polar Beverages, Crystal Geyser Water Company, Danone S.A., Hint Inc., Kraft Foods, and Talking Rain Beverage Company are the major companies in this market, who compete based on market presence, quality, and price. It has been forecast that improvements in the global economic scenario and the growing flavored water industry in emerging nations would drive market growth.
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Segmental Analysis: The Global Flavored Water Market Industry 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 Market 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 Industry 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 Industry 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.
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 Market Industry.
Regional Analysis
Geographically, the global Flavored Water Market Industry 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 Industry is expected to register the highest CAGR of 8.1% during the forecast period.
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