Flavored Water Market Share, Trend, Business Demand, Gross Margin, Industry Growth, Global Analysis 2023
Flavored Water Market Overview:
Drinking plenty of water is essential for the human body as it assists in curing most of the body problems. However, water being tasteless, many find it difficult to consume the right amount of water required for the body. Flavored water provides a solution to this problem by adding flavors and taste to the water, which increases its intake among the population. Different natural flavors available in the market such as lemon, orange, mixed berry, apple, and others add health benefits along with taste to the water which is attracting the consumers towards this market.
Water infused with different natural flavors is known as flavored water. Different fruits and herbs are used to flavor the water including lemon, orange, mixed berry, apple, and many more. These natural flavors add health benefits to the water along with taste. Different flavors hold different health benefits based on the raw material used to infuse the water. A tasteless feature of the water is a primary reason for the lack of water intake among consumers which is resolved with the introduction of flavored water.
Growing trend of living a healthy lifestyle and high inclination towards functional drinks is gaining traction towards flavored water market, globally. Moreover, the immense health beneficial properties of flavored water are increasing its acceptance among the growing health-conscious population which is propelling the growth of the flavored water market.
Growing consumption of bottled water owing to growing concern of water pollution is supporting the growth of the flavored water market. Moreover, efforts by manufacturers towards product innovation followed by product promotion is boosting the growth of the market. The attractive packaging of the product is also having a positive impact on the growth of the market. All these factors are projected to contribute to the estimated CAGR of 9.5% of flavored water market during the forecast period, 2017-2023.
Competitive Analysis: The major players in the Flavored Water Market, Some of the key players profiled in the global flavored water market are Clearly Canadian (Canada), PepsiCo (U.S.), Hint, Inc. (U.S.), The Coca-Cola Company (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 many more.
Industry Segment: Based on type, flavored water is segmented into carbonated and non-carbonated flavored water. Among them, the carbonated flavored water is witnessed to be dominating the market. However, the non-carbonated flavored water is anticipated to be the fastest growing segment over the forecast period.
Based on the flavors, the flavored water market is segmented into lemon, orange, mixed berry, apple, and others. Among all, the lemon segment is witnessed to be dominating the market followed by the orange segment.
Based on the packaging material, the flavored water market is segmented into glass and plastic. Among them, the plastic segment is witnessed to be dominating the market. However, the glass segment is observed to have substantial growth over the forecast period.
On the basis of the distribution channel, the market is segmented into the store-based and non-store based distribution channel. The store-based distribution channel is dominating the market owing to one-stop shop experience followed by a wide range of options available on one shelf.
Regional Analysis: The global Flavored Water Market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). Europe is dominating the market followed by North America. Presence of major key players in North America and continuous product innovation initiated by them is propelling the growth of the flavored market in this region. High inclination of consumers towards functional beverages in Europe is driving the market for flavored water in this region.
Asia Pacific is projected to be the fastest growing region over the forecasted period. Changing lifestyle followed by increasing health concerns among the population in developing countries is majorly contributing to the growth of this market in Asia Pacific. Latin America is also expected to witness moderate growth over the estimated period.
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