Water being an indispensable human necessity experiences inelastic demand from the consumer end for normal drinking water. However, flavored drinking water is also expanding its market share considerably due to its element of novelty. Market reports associated with the food, beverages & nutrition sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is forecasted to witness CAGR of 9.5 percent approximately in the duration of the forecast period.
The healthy living trend plays a vital role in the demand that is being witnessed by the flavored water market. The infusions in flavored water product variants in the market have various added benefits in terms of nutrients which are motivating the development of the market substantially. Moreover, availability of flavored water options in attractive packages will push the market expansion markedly over the forecast period.
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Major Key Players Analysis:
The market is to a great extent lifted by the developments that are occurring in the market. The augmented level of emphasis on the variation of products is increasing the number of customers in the market substantially. The long-run feasibility of the market is greatly dependent on the techniques and the strategic roadmaps that are engaged by market players. The market demand and competitors’ dynamics are distinctly improved by the strategies that are being utilized by market players. The smart amalgamation of supply chain management is progressively escalating the expansion of the market. The decisive success factors in the market are effortlessly achieved in the market leading to a high pace of development in the forecast period. The improvement in the products and services of the markets will alter the progression of the market’s growth substantially.
The major contenders profiled in the flavored water market globally are Ayala (Philippines), O Beverages, LLC (U.S.), The Coca-Cola Company (U.S.), Clearly Canadian (Canada), PepsiCo (U.S.), Nestlé (Switzerland), Hint, Inc. (U.S.), Crystal Geyser Water Company (U.S.), Kraft Heinz (U.S.), Sunny Delight Beverages (U.S.), and many more.
PepsiCo launched a line of sparkling flavored water called “bubbly.” The new launch is expected to hopefully give PepsiCo a chance to tap more into the millennial market. The new drink has no artificial sweeteners and flavors, and it comes in eight flavors, together with cherrybubly, limebubly, and applebubly.
The segmentation of the flavored water market is carried out on the basis of type, flavors, distribution channel and packaging material. By type, the flavored water market is segmented into non-carbonated and carbonated flavored water. The carbonated flavored water segment is expected to lead the market. Conversely, the non-carbonated flavored water is projected to be the fastest rising segment in the forecast period. Based on the flavors, the market for flavored water is segmented into orange, lemon, apple, mixed berry, and others. Among these segments, the lemon segment is expected to lead the market followed by the orange flavor segment. The segmentation of the market on the basis of packaging material is divided into plastic and glass. The plastic segment is projected to control the market. Though, the glass segment is forecasted to have considerable growth over the forecast period. On the basis of the distribution channel, the market is segmented into non-store based and store-based distribution channel. The store-based distribution channel is projected to control the market due to the preference for a one-stop shop experience by consumers.
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Detailed Regional Analysis:
The regional market for flavored water market globally is segmented into Asia Pacific, North America, Europe, and the rest of the world (RoW). The European region is leading the market followed by the North American region. France, Germany, and Italy are the main contributors to the expansion of flavored water market. In the North American region, the U.S. is the foremost contributor to the expansion of the market. The existence of the key players in this region is motivating the expansion of flavored water market. The Asia Pacific region is likely to be the top growing region in the forecasted period. India, China, and Japan are the chief contributors in this region due to the escalating health awareness and proclivity towards a healthy diet. The Latin American region is projected to observe reasonable growth in the forecast period followed by the Middle East region.
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