Flavored water is fast becoming popular among the younger generation who are opting for it due to its taste and health-related benefits. The global flavored water market is expecting a steady growth during the forecast period (2022-2030), reveals Market Research Future (MRFR) in a thorough analysis of the same with particular emphasis on drivers and segments and valuable insights regarding the market scenario in coming years. These drinks are available in multiple colors that offer different health benefits. People living their lives on a faster track prefer such small indulgences that can have a positive impact on individuals as well. Hence, the market is experiencing such a boost. The expanding retail sector and manufacturers taking up innovative models to launch their product can also be considered as significant market influencers.
Flavored Water Market Insight is Anticipated to Reach USD 32.36 Billion by 2030 with 10.0% CAGR By 2022 to 2030
However, artificial flavors can put a leash on the market. The perception regarding artificial flavoring among the populace does not have any positive signifier which can reduce the growth speed for the same market during the forecast period.
Industry Trend:
JUST Water launched JUST Infused, three certified organic, unsweetened flavors, organic apple cinnamon, organic tangerine, organic lemon as a part of their expanding portfolio. The target is to have a positive environmental and community impact.
PepsiCo launched their new product Bubly which according to them would give serious competition to others and does not contain artificial flavors, sweeteners or calories. The new drink has eight flavors limebubly, grapefruitbubly, strawberrybubly, lemonbubly, orangebubly, applebubly, mangobubly, and cherrybubly.
Segmentation:
The global flavored water market can be segmented by type, flavors, packaging material, and distribution channel.
By type, the market can be segmented into carbonated and non-carbonated flavored water. Carbonated flavored water segment is spearheading the market, whereas, non-carbonated segment can register the highest market growth.
Based on flavors, the market can be segmented into lemon, orange, mixed berry, apple, and others. Lemon has a firm grip over the market and orange stands in the second spot.
Based on packaging material, the market includes glass and plastic. Plastic segment is leading the market with great ease. However, glass is gaining traction as well.
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Considering distribution channel, the market can be segmented into store-based and non-store based distribution channel. Store-based segment is enjoying significant market superiority.
Regional Analysis:
Region-specific analysis of the market includes North America, Europe, Asia Pacific (APAC) and the Rest-of-the-World (RoW).
Europe has the upper hand in the market with the largest share of the revenue generated to its name. Germany, France, and Italy are the major contributors to the growth of flavored water market. North America follows the line and is the second largest market with the U.S. contributing substantially. Major market players belong to the U.S. which gives the country a much-needed heads up for the region.
The APAC is expected to be the fastest growing region during the forecast period with countries such as India, China and Japan contributing much. The region is experiencing a surge in health awareness and is getting gradually inclined towards a healthy diet. Countries from South America are also anticipated to experience a significant hike in sales. The Middle East will project a moderate growth during the same period.
The flavored water market outlook is poised for significant growth in the coming years, driven by shifting consumer preferences towards healthier beverage options. As more individuals seek alternatives to sugary and carbonated drinks, flavored water offers a refreshing and low-calorie choice, often infused with natural flavors and functional ingredients. This trend aligns with the growing awareness of the importance of hydration and the desire for unique taste experiences. Key players in the beverage industry are capitalizing on this trend by introducing innovative flavors and packaging options, targeting both health-conscious consumers and those looking for novel and exciting beverages. As a result, the flavored water market is expected to expand, presenting opportunities for product diversification, market expansion, and heightened competition among industry participants.
Market Dashboard:
The market is witnessing a new product launch all the time and is hoping to ride on its success. However, innovations are taking center stage owing to which a lot of tie-ups are also taking place. For instance, Clearly Canadian acquired DMR Food Corporation to increase its endeavor of producing healthy foods. Brynwood Partners VII LP completion of Sunny Delight Beverages Co.’s merger with Harvest Hill Beverage Co. can be considered as well.
Some of the key players profiled in the global flavored water market are Clearly Canadian (Canada), PepsiCo (U.S.), The Coca-Cola Company (U.S.), Hint, Inc. (U.S.), Crystal Geyser Water Company (U.S.), O Beverages, LLC (U.S.), Nestlé (Switzerland), Kraft Heinz (U.S.), Ayala (Philippines), Sunny Delight Beverages (U.S.), and others.
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