Flavored Water Market - By Packaging Type (Bottles, Cans and others), By Distribution Channel (Store-Based and Non-Store-Based), By Type (Carbonated and Still) - Industry Forecast 2027
|ID: VPR/F&B/1031||Publishing Year: October 2021||Pages: 120||Format:|
Flavored Water Market Overview:
The Flavored Water Market is projected to grow from USD 13 billion in 2020 to reach USD 28 billion by 2027; it is expected to grow at a CAGR of 11.58% from 2020 to 2027.
Consumers in industrialised economies, such as the United States, are spending more on flavoured water, particularly millennials and Gen Z. The popularity of zero-calorie, zero-sugar, and low-carb soft drinks is growing around the world, driving Flavored Water Market Growth. Because of their pleasant flavours, citrus and berry flavours are gaining popularity among customers. Natural flavours are becoming more popular as a result of their health benefits and pleasant flavours.
As a result, manufacturers have begun to introduce beverages with flavours that promote physical and mental well-being. Consumer preferences have shifted away from sugary carbonated soft drinks and toward healthier beverages in recent years. Furthermore, the constant introduction of novel tastes, innovative packaging, and the addition of functional ingredients have all contributed to the shaping and growth of the Flavored Water Market. To appeal to modern consumers, companies are adding vitamins and minerals to their drinks.
- PepsiCo Inc. (US)
- The Coca-Cola Company (US)
- Crystal Geyser Water Company (US)
- Hint Inc. (US)
- Nestlé S.A. (Switzerland)
- The Kraft Heinz Company (US)
- Danone S.A. (France)
- KeurigDr Pepper (US)
- Talking Rain Beverage Company (US)
- Polar Beverages (US)
The COVID-19 epidemic has harmed the food and beverage industries, resulting in the temporary closure of manufacturing facilities and a drop in demand. Players in the Flavoured Water Market Sector are concentrated on nurturing their supply chains and speeding their operations to avoid future revenue losses, with the primary focus on preventing the spread of SARS-CoV-2 among healthcare personnel. Furthermore, with the progressive lifting of the lockdown across countries and the containment of the novel coronavirus, the Worldwide Market can recover more quickly in the future years.
The Flavored Water Market is driven by rising health awareness, changing consumer tastes and preferences, and substantial lifestyle changes in both developing and established countries. Companies that make flavoured water products employ a strategy that entails emphasising popular elements in their products to pique the interest of consumers who are concerned about their wellness, welfare, and health. This improves the overall profit margin and boosts market growth while also enhancing the value proposition of the companies' services.
Drink customization and personalization have emerged as a big opportunity for suppliers to increase their market share in the Flavored Water Market. uFlavor, for example, is a website in the United States that allows clients to design or build their own beverage. Apart from that, the eCommerce industry, which has become increasingly popular among online customers, presents businesses with an opportunity.
The growing number of ads discouraging customers from purchasing packaged bottles will pose a hurdle to industry expansion. In the coming years, the increasing availability of alternatives could pose a serious threat to the Worldwide Flavored Water Market.
During the projection years, however, the still product segment is expected to grow at the quickest rate. The availability of a diverse range of still water products supplemented with minerals, antioxidants, vitamins, and caffeine is expected to drive category expansion in the coming years. Furthermore, the idea that sparkling beverages cause low bone mineral density and tooth disease has prompted many customers to switch to still beverages.
The availability of still versions infused with various fruits, such as watermelon, blueberry, blackberry, lemon, mango, pomegranate, and mandarin orange, is expanding, enhancing product usage. Just Goods, Inc. introduced JUST Infused waters in lemon, tangerine, and apple cinnamon tastes in May 2018.
Due to increased product usage as a healthier alternative to other carbonated drinks, North America accounted for the greatest revenue share of over 37% in 2020 and will continue to grow at a steady CAGR from 2021 to 2027. Several well-known brands in the region, like bubbly, AHA, Talking Rain, Nestlé Pure Life, Perrier, Schweppes, and LaCroix, offer a diverse selection of goods. As a result, enhanced product accessibility has boosted product uptake in the region.
Europe controls a sizable portion of the Worldwide Flavored Water Market. Natural FlavouredAnd Carbonated Waters with high mineral content are more enticing to health-conscious customers. Natural fruit extracts are frequently used to add taste to the drinks. Sales of the product are high in a number of countries, including Germany, the United Kingdom, Italy, Spain, and France, where it is frequently offered with meals at restaurants.
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