New York, United States, March 14, 2024 (GLOBE NEWSWIRE) -- Flavored water is a beverage in which natural or artificial flavors are infused into water, providing consumers with a refreshing and tasty alternative to plain water. Its popularity has expanded recently due to numerous factors, including a desire for healthier beverage options and a shift away from high-calorie, sugar-laden beverages.
The increasing popularity of flavored, nutritional, and functional beverages has boosted the market share of flavored water. Consumers are eager to explore novel beverages flavored with fruits, herbs, and other nutritious ingredients. Due to rising health concerns during the COVID-19 pandemic, the market expanded rapidly, increasing demand for flavored hydration products enhanced with mineral and vitamin advantages, particularly among health-conscious consumers with mid-to-high income levels.
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Obesity and Sugar Concerns Boost the Market Expansion
Customers prefer low- or no-sugar drinks due to obesity, diabetes, and other health problems. Various sugar-free types of flavored water are touted as healthier. Since 1975, global obesity has nearly doubled, according to the WHO. 650 million adults, 340 million adolescents, and 39 million children are obese globally in 2022. According to the US Centers for Disease Control and Prevention (CDC), excessive sugar consumption is a major cause of obesity, type 2 diabetes, heart disease, and dental issues.
The WHO recommends limiting free sugar intake to less than 10% of total calorie intake at all ages to prevent unhealthy weight gain and tooth damage. Beverage companies have addressed these concerns. The production and marketing of sugar-free and low-calorie beverages, including flavored water, has increased due to consumer preferences. Flavored water brands prominently display "sugar-free" or "zero calories" labels to attract health-conscious consumers. These health-conscious customer needs are changing the flavored water market.
Functional Flavored Water Creates Tremendous Opportunities
According to Straits Research, “The global flavored water market size was valued at USD 15.97 billion in 2022 and is projected to reach USD 37.65 billion by 2031, registering a CAGR of 10% during the forecast period (2023-2031).” Adding healthy chemicals to flavored water has great business potential. By adding vitamins, minerals, electrolytes, antioxidants, and other health-boosting ingredients, flavored water can satisfy consumers' thirst for more than simply flavor. Sports and hydration beverages may include functional flavored water. The sports drinks market has risen as customers realize the importance of hydration and electrolyte balance during exercise.
A Natural Marketing Institute survey found that 50% of customers actively seek healthy drinks. Functional flavored water could capitalize on the demand for healthy drinks. Businesses can meet consumer demand for health-focused beverages by adding hydration, vitamins, minerals, or other functional ingredients. Targeting health-conscious consumers and promoting functional flavored water may help brands enter this growing market.
Regional Insights
North America exhibited the biggest sales share because it provided a healthy alternative to carbonated beverages. Beverage brands such as Bubbly, AHA, Talking Rain, Nestlé Pure Life, Perrier, Schweppes, and LaCroix offer beverages specific to certain geographical regions. The enhanced accessibility of the product has resulted in a higher adoption rate within the region. Flavored water is anticipated to hold considerable significance within the bottled water industry.
Furthermore, based on studies conducted on the flavored water market in the United States, it has been shown that consumer demand for health-conscious and functional beverage choices significantly influences sales figures. The promotion of organic, pH-balanced, and sugar-free beverages is encouraged as a means to improve both physical and mental well-being. The preference for nutritional beverages over carbonated soft drinks has led to significant growth in the flavored water market in the past decade.
Europe has a significant influence over the global market. Consumers who prioritize their health tend to like carbonated mineral drinks that are naturally flavored. Beverage flavors frequently derive from authentic fruit extracts. The countries of Germany, the United Kingdom, Italy, Spain, and France exhibit notable levels of product sales, particularly in the context of restaurants including it in their meal offerings.
Additionally, the projected trend indicates increased demand for flavored and carbonated water in Germany. Marketing is a strategic approach employed by businesses to maintain a competitive edge and effectively appeal to potential customers. Numerous famous firms have introduced can-flavored water to mitigate plastic consumption in response to a growing environmental awareness among customers. This is expected to enhance market conditions.
Key Highlights
- The Type segment is further subdivided into Carbonated and Still. The carbonated kind had the biggest market share.
- The market is bifurcated into two types of packaging: bottles and cans. Bottles are the market's main source of revenue.
- Distribution channels can further divide the market into store-based and non-store-based distribution channels. The growth of the market was affected by store-based channels.
- Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America is the most significant global market shareholder and is estimated to grow at a healthy CAGR over the forecast period.
Competitive Landscape
The key players in the global flavored water market are Nestlé, Talking Rain, PepsiCo, Inc., The Coca-Cola Company, Hint, Inc., Spindrift, National Beverage Corp., Sanpellegrino S.P.A., KeurigDr Pepper, Inc., and Saratoga Spring Water Company.
Market News
- In October 2023, Nestlé worked on products that blend milk and plant ingredients.
- In October 2023, the Coca-Cola Company and Pernod Ricard revealed intentions to produce a ready-to-drink Absolut Vodka and Sprite cocktail.
Global Flavored Water Market: Segmentation
By Type
- Carbonated
- Still
By Packaging Type
- Bottles
- Cans
By Distribution Channel
- Store-Based
- Non-Store-Based
By Region
- North America
- Asia-Pacific
- Europe
- The Middle East and Africa
- Latin America
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