Market Research Future assessed the global flavored water market 2020 through the review period till 2024. The flavored water market can rise at 7.6% CAGR between 2020 and 2024. Flavored Water Industry can touch about USD 10,989.0 Million by 2024. The expansion of consumer base for healthy flavored functional drinks is giving rise to new market niches. Growing diet trends, such as keto, Whole 30, and paleo diets, is contributing to the rise in consumption of different types of flavored drinks. In addition, flavored water is also observed to gain popularity as a hydrating agent.
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The high sales of flavored water owing to the above causes can support expansion of the market in the near future. The growing focus of suppliers on creating sustainability and adding value to consumer experience can add to the market rise in the near future. However, the growing demand for numerous substitutes, such as; sports drinks, juice, smoothies, and soft drinks, can restrain the market rise.
PepsiCo, Inc. (US), Crystal Geyser Water Company (US), The Coca-Cola Company (US), Hint Inc. (US), The Kraft Heinz Company (US), Nestlé S.A. (Switzerland), Danone S.A. (France), Talking Rain Beverage Company (US), Keurig Dr Pepper (US), and Polar Beverages (US) are some active players that are studied by MRFR to gain insights into growth dynamics of the Global Flavored Water Industry.
Flavored Water Segment Study
The global Flavored Water Industry study is based on packaging type, type, and distribution channel.
The type-based segments of the flavored water market are still and carbonated. The carbonated segment can dominate the worldwide Flavored Water Industry and is expected to surge at 7.8% CAGR across the forecast period. The flavored water made from variety of sources, such as; protected springs, groundwater from wells, or public water supply, have high traction over carbonated water. This can benefit the market rise in the near future.
The packaging type-based segments of Flavored Water Industry are bottles, and cans among others. The bottles segment can garner decent market share of the worldwide flavored water market by 2024. The high consumer convenience offered by bottles are earning them popularity among consumers. The cans segment can surge at rapid growth pace across the forecast period.
The distribution channel-based segments of the flavored water market are convenience stores, store-based, and non-stored based among others. The store-based segment consists of convenience stores, and supermarkets & hypermarkets among others. The store-based segment can acquire larger revenue the market, as the supermarkets & hypermarkets sub-segment can thrive. The expansion of the retail sector can drive the segment growth. The non-store-based segment can surge at considerable CAGR across the forecast tenure.
As per geography analysis of the global Flavored Water Industry North America can dominate the global market. The regional market can secure nearly 39% share of the global market. Asia Pacific flavored water market can register 8.1% CAGR in the forecast period. In Asia Pacific, MRFR identifies the rise in consumer focus on wellness and better health can support the growing demand for flavored water, thus can favor the regional market. The rise in prevalence of typical health problems among patient with ailments, such as; diabetes, obesity, and cardiovascular diseases, can influence the regional market in the near future. In Europe, the rise in consumption of flavored water and fall in sales of artificial carbonated drinks can promote the market rise. MEA market can grow at steady rate by 2024.
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