Flavored Water Market Size- Growth Drivers, Opportunities and Forecast Analysis to 2023
Market
Highlights
Flavored
Water Market has witnessed continued growth over the
last few years and is projected to reach USD 16,370.4 Million by
2025 at a CAGR of 7.6%. 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 fueling 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 Flavored Water Market Size
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.
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.
Key Players
Market Research Future
recognizes PepsiCo, Inc. (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.
Segmental
Analysis
The Global Flavored Water
Market has been segmented on the basis of 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
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
higher CAGR during the forecast period.
Key
Findings of the Study:
- The Global
Flavored Water Market is expected to register a growth rate of 6%
from 2019 to 2025. Rising health consciousness among consumers is
projected to propel the growth of the global flavored water market.
- By type, the
carbonated segment is projected to maintain its dominance from 2019
to 2025. The segment is expected to register a substantial growth rate
of 5% during the forecast period.
- On the basis
of packaging type, the bottles segment is estimated to hold the largest
market share during the forecast period and is projected to register a
growth rate of 5%.
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