New York, US, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Flavored Water Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Flavored Water Market Information by Type, Packaging Type, Distribution Channel, and Region - Forecast till 2028”, the market is expected to cross USD 29.2 Billion by 2028 at a CAGR of 10% during the forecast period 2021 to 2028.
Market Scope:
Flavored water is a type of bottled mineral water that is flavored heavily. Typically, these waters are spring water or packaged mineral water. It's a concoction of different fruit and vegetable juice concentrates, including mango, guava, apple, blueberry, blackberry, pineapple, strawberry, and orange, along with mineral water. Flavored water is made using nutrients, spices, minerals, and unrefined substances gleaned from soil and oxygen, among other ingredients. A variety of Ayurvedic herbs and spices, as well as vegetables like lemon and amla, are blended into an improved water supply. Seasoned water's added chemicals and cancer experts give it an edge.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 29.2 Billion |
| CAGR | 10% |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Packaging Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growth Of Organized Retail Stores |
| Rising Health Consciousness |
Competitive Dynamics:
Increasing their product portfolios is a key strategy for market participants. Increased product variety in terms of taste, form, and presentation, as well as new forms of packaging and promotion, are all benefits of the intensifying competition in today's markets.
- Nestle
- Talking Rain
- PepsiCo, Inc.
- The Coca-Cola Company
- Hint, Inc.
- Spindrift
- National Beverage Corp.
- Sanpellegrino S.P.A.
- KeurigDr Pepper, Inc.
Market USP:
Market Drivers
Global demand for flavorful, nutritious, and functional beverages has been on the rise. There has been an uptick in consumers' curiosity about novel beverages flavored with fruits, herbs, and other nutritious ingredients. Increased health concerns during the COVID-19 pandemic led to a surge in demand for flavored hydration products enhanced with the benefits of minerals and vitamins, particularly among health-conscious consumers with middle- to high-income levels.
Flavored water is a growing market in industrialized economies like the United States, particularly among millennials and Generation Z. The increased popularity of low-carb, no-sugar, and calorie-free soft drinks is also contributing to the expansion of the market. Consumers are warming up to citrus and berry flavors because of how refreshing they are. The natural flavors are popular because of their pleasant tastes and positive health effects.
In response, manufacturers have introduced drinks with these flavors shown to boost health in both the body and the mind. In recent years, healthier beverage options have surpassed their sugary fizzy counterparts in popularity. The global market has been shaped and boosted by the consistent release of novel tastes, the development of novel packaging, and the addition of useful ingredients. To appeal to today's consumers, several beverage manufacturers now include vitamins and minerals in their products.
Flavored waters in environmentally friendly packaging are becoming more common as people become more conscientious of their impact on the planet. Several companies package their beverages in recyclable aluminum cans, which is a boon to those who care about the planet. Sustainability in both production and sourcing is also a major selling point for beverages. The market participants are benefiting from the expansion possibilities brought forth by this trend.
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Market Restraints
How many missions succeed in discouraging consumers from buying bottles in sets will be a barometer of the market's progress. For the global Flavored Water Market, the expanding availability of alternatives could be a major threat in the next years.
COVID-19 Analysis:
The temporary closure of assembling offices and weakened interest caused by the COVID-19 outbreak have been damaging to the food and drink industry. Players in the seasoned water sector are focusing on cultivating their stock chains and speeding up their activities to control future revenue losses as the essential focus shifts to halting the spread of SARS-CoV-2 among medical services workers. The global market will be able to recover more quickly in the coming years now that governments are gradually removing their lockdowns and pandemics have been dealt with.
The market's ebb and flow elements are also influenced by a number of viewpoints, however there is a huge demand for flavored water for seasoned water among consumers. Shoppers have been thrown into chaos by the Covid emergency, which has led to the imposition of lockdown regulations and the temporary closure of businesses in an effort to stem the spread of the virus.
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Market Segmentation:
By Type
Carbonated segment is poised to expand at a notable CAGR over the review period.
By Packaging
The bottles segment is expected to rise at a considerable growth rate over the assessment period.
By Distribution Channel
Store-based segment is slated to acquire a significant market value over the review period.
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Regional Analysis:
A combination of rising awareness about the importance of health and a general distaste for sugary, carbonated beverages means that the Asia-Pacific region will grow faster than any other region in the world in the coming years. The growth of both quick-service and full-service restaurants in the region, as well as rising demand for the product, bode well for the future of the market there. Healthy food and drink demand has been boosted by increased consumer knowledge of the benefits of a healthy lifestyle, which will help the regional market expand. Additionally, the rise in consumer disposable income has influenced dietary preferences all around the world. Consumers are increasingly leaning toward consuming nutritious foods and decreasing their usage of sugary beverages known to have negative effects on health. Since many establishments now offer it on their menus, flavored water is expected to increase in popularity over the next several years.
In 2020, North America held the largest share of the flavored water industry, and analysts expect that trend to continue. Flavored water companies in North America have helped to propel the industry to the forefront, and the region's abundant supply of flavored water options means that consumers can find something to their liking. On the other side, the rising demand for flavored water in North America can be attributed to a rise in health consciousness amongst consumers.
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