Global Flavored Water Market: Information by Type (Carbonated and Still), Packaging Type (Bottles, Cans and others), Distribution Channel (Store-Based and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025
Generally, flavored water is infused with herbs, vegetables, and fruits. The flavored water market is highly fragmented with the presence of large and medium-sized players active in the market. These players are highly focused on product and flavor invention to stay competitive in the market. Flavored Water Market has witnessed significant growth over the last few years and is projected to grow by USD 10,989.0 Million from 2018 to 2024 at a CAGR of 7.6%. Most businesses in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations. Product originality and campaigns and the rising demand for natural and clean-label beverages are expected to offer lucrative prospects to market players in the coming years. These retail stores act as a one-stop shopping platform for the growth of the market. Flavored water is distributed via various channels and is easily available in departmental, specialty, and convenience stores. Consumers tend to prefer departmental and specialty stores for the purchase of flavored water. Thus, the growth of the retail sector has boosted the sales of flavored water. Along with this, rising health perception is contributing to the growth of the market. However, there are numerous substitutes for flavored water such as juice, smoothies, sports drinks, and soft drinks accessible in the market which restrains the growth of the market.
The Global Flavored Water Market is segmented based on material Type, Packaging Type, Distribution Channel, and Region respectively. Robust economic growth, the emergence of a large and prosperous middle class, and high rates of migration from rural to urban areas have led to the influx of international retailers across the globe and encouraged the establishment of new retail stores. With the strong performance of the retail segment, the sales of flavored water have been facing a surge. Based on type, the market has been segregated into flavored water carbonated and still. The carbonated segment accounted for the larger share in 2018. Carbonated water is also known as sparkling water, seltzer water, or soda water. However, the still water segment is expected to register a higher CAGR during the review period. Based on the allocation channel, the market has been divided into bottles, cans, and others. The bottles segment accounts for the largest share as bottles are useful to use and reuse. Cans are preferred for single-time use and are convenient to carry, which is expected to result in the cans segment being the fastest-growing during the forecast period.
Geographically the Global Flavored Water Market is split in regions like North & South America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. North America controlled the global flavored water market in 2018. The regional market is projected to reach USD 10,481.4 Million by 2025. Growing health consciousness is driving consumer preference for healthy choices to sugary sodas, juices, and high-calorie drinks, thus, improving the demand for flavored water. The sparkling segment has been growing at a considerable rate in the region over the last 2 years. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period owed to the rise in health perception among consumers and decrease in inclination for high sugar-content carbonated soft drinks.
The proposed spectators in the Global Flavored Water Market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Flavored Water Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Flavored Water Market are companies like PepsiCo, Inc. (US), The Coca-Cola Company (US), Crystal Geyser Water Company (US), Hint Inc. (US), Nestl? 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).