The Asia Pacific Flavored Water Market would witness market growth of 9.5% CAGR during the forecast period (2021-2027).
With the rising awareness about sustainability and the environment among consumers, industry players are growing their product portfolio of flavored water in unique & appealing packaging. Various brands provide their drinks in aluminum cans in order to gain the confidence of eco-friendly consumers. Moreover, consumers are searching for drinks that are sourced and produced in a sustainable manner. This trend has been opening new growth avenues for the leading players operating in the flavored water market.
The majority of flavored water comprises of Vitamin C, which helps in maintaining healthy skin and bones. They also contain Vitamin E which helps in protecting cells. In addition to it, this water is also equipped with other nutrients in small amounts that may assist a person to consume a daily dose of vitamins and minerals.
Asia Pacific would exhibit the fastest CAGR during the forecast period. The regional flavored water market would witness new growth avenues due to the rising consumer willingness for the product along with the expansion of quick-service and full-service restaurants. In addition to it, the growth of the regional market would further be driven by aspects like the increasing consumer awareness regarding the advantages to adopt a healthy & active lifestyle which has boosted the demand for healthy foods & beverages.
Moreover, the increasing disposable income of the consumer has brought a paradigm shift in their food & beverage consumption patterns around the world. Consumers are extremely willing to consume healthy foods and beverages and lowering down the consumption of sugary beverages that have harmful health effects. The majority of the bars and restaurants have been serving the product, bringing bright growth prospects for the growth of flavored water during the forecast period.
Taking into account the total population of the Asia-Pacific region, it is highly expected that the companies operating in the market will target the countries in the region. Owing to the rising awareness, consumers in the Asia Pacific are showing a high preference to spend on functional beverages. In addition to it, healthy alternative drinks are taking a tag of recognized category, as consumers showing demand for a healthier alternative to carbonated soft drinks.
Encouraged by the bright prospects of the functional beverages industry, manufacturers are likely to bring unique flavors and attractive packaging for flavored water. These aspects are likely to boost the growth of the regional flavored water market in the forthcoming years. Moreover, there is an increasing awareness regarding water pollution and contamination of drinking water among people, these aspects are motivating the players to focus more heavily on purified and clean flavored water. Furthermore, flavored water offers a range of advantages for health like better skin texture, weight loss, higher immunity, and better digestion.
The Supermarkets & Hypermarket market dominated the Malaysia Flavored Water Market by Distribution Channels in 2020, thereby, achieving a market value of $184.6 million by 2027. The Convenience Stores market is estimated to grow at a CAGR of 10% during 2021-2027. Additionally, The Online market is expected to witness highest CAGR of 12.7% during 2021-2027.
Based on Distribution Channels, the market is segmented into Supermarkets & Hypermarket, Convenience Stores, Online and Other Channels. Based on Product, the market is segmented into Sparkling and Still. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Flavored Water Market is Projected to reach USD 24.9 Billion by 2027, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PepsiCo, Inc., The Coca Cola Company, Otsuka Pharmaceutical Co., Ltd. (Crystal Geyser Water Company), Hint Water, Inc., Nestle S.A., The Kraft Heinz Company, Danone S.A., Keurig Dr Pepper, Inc., Polar Beverages, Inc., and Talking Rain Beverage Company.
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