The Global Flavored Water Market size is expected to reach $24.9 billion by 2027, rising at a market growth of 8.1% CAGR during the forecast period. Flavored water refers to a beverage that comprises water with added natural or artificial flavor, herbs, and sweeteners, and generally contains lower calories as compared to non-diet soft drinks. In most of cases, flavored water adds minerals and vitamins with the inclusion of fruits with an aim to promote their products in the market. Also, awareness regarding the importance of water consumption is constantly increasing among consumers as it is one of the essential components of a healthy lifestyle.
Maintaining the optimal hydration level in the body enhances energy levels and assists in keeping healthy skin. Water, in comparison to conventional carbonated drinks, juices, and coffee is free from any calories and no harmful properties. Flavored water provides all the advantages of pure water but with the addition of good taste, and with so many interesting and exciting flavor products available.
The leading players operating in the global flavored water market are constantly introducing innovative products in order to cater to the ever-changing demands of consumers who are more conscious about their health. For example, in May 2019, National Beverage Corp. came up with a new flavor, Hi-Biscus! under its LaCroix brand. The new sparkling water contains zero sweeteners, carbohydrates, or sodium, and has a unique flavor of the hibiscus flower. Therefore, the growth of this segment would be boosted by the introduction of these products during the forecast period.
The outbreak of the COVID-19 has been declared as a global pandemic by the WHO. The global COVID-19 pandemic has brought an uncertain situation across the world, causing global rescission. The pandemic has impacted the commodity market in various ways. The demand for essential goods such as groceries has witnessed an abrupt surge. Owing to the outbreak, consumers getting more conscious about their health and are taking diets that can assist them to boot the immune system.
Water intake in optimal quantities is necessary for the body because it helps in boosting the metabolism, immune system, and detoxes the body. Therefore, the demand for flavored water has witnessed a surge during the pandemic. In addition to it, the inclination towards natural and organic flavors in flavored water is increasing at a fast pace as the plant and herbs sources incorporated in flavored water is extremely beneficial for the health of human.
However, there is a massive demand for flavored water among the consumers; several aspects are influencing the market current dynamics. The coronavirus crisis has created a chaotic situation among the consumers with the imposition of strict lockdown guidelines, and the shutdown of retail stores with an aim to curb the spread of the virus. This resulted in a panic purchasing among the buyers and the stockpiling of essential goods, thus created a massive burden on supermarkets & hypermarkets, and convenience stores as they are running out of stock and the grocery shelves for popular goods remain empty.
Based on Distribution Channels, the market is segmented into Supermarkets & Hypermarket, Convenience Stores, Online and Other Channels. The supermarkets & hypermarkets segment procured the highest revenue share in 2020 and would exhibit a considerable growth rate throughout the forecast years. In the last few years, there is a sharp increment in the number of consumers who are willing to purchase bottled water from hypermarkets & supermarkets due to the shopping experience.
Based on Product, the market is segmented into Sparkling and Still. the still product segment would be the fastest-growing segment throughout the forecast period. The growth of this segment would witness bright prospects with the high & easy accessibility of a broad range of still water items that are incorporated with antioxidants, minerals, caffeine, and vitamins. In addition to it, the emerging viewpoint regarding sparkling beverages that they cause low bone mineral density and tooth decay has been motivating many consumers to make a transition towards still alternatives.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 14.1 Billion |
| Market size forecast in 2027 | USD 24.9 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8.1% from 2021 to 2027 |
| Number of Pages | 160 |
| Number of Tables | 263 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape |
| Segments covered | Distribution Channels, Product, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe region obtained a substantial share of the global flavored water market. Health-conscious consumers highly prefer naturally carbonated and natural flavored waters with high content of minerals in them. The flavors included in the drinks are frequently extracted from natural fruit extracts. The sales of the products are extremely high in various countries like the U.K., Germany, France, Italy, and Spain, where the product is frequently served with meals in restaurants.
Free Valuable Insights: Global Flavored Water Market size to reach USD 24.9 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Nestle S.A., The Coca Cola Company, and PepsiCo, Inc. are the forerunners in the Flavored Water Market. Companies such as Danone S.A., Talking Rain Beverage Company, Hint Water, Inc. are some of the key innovators in the market.
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.
By Distribution Channels
By Product
By Geography
The flavored water market size is projected to reach USD 24.9 billion by 2027.
Companies are adopting mass-merchandizing and developing a robust distribution network are driving the market in coming years, however, availability of cheaper substitutes have limited the growth of the market.
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.
Water intake in optimal quantities is necessary for the body because it helps in boosting the metabolism, immune system, and detoxes the body. Therefore, the demand for flavored water has witnessed a surge during the pandemic.
The sparking product segment garnered the maximum revenue share of the flavored water market in 2020 and would grow with a major CAGR during the forecast period.
In 2020, North America emerged as the leading region of the global flavored water market and would exhibit a constant growth rate during the forecast period.
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