The Latin America, Middle East and Africa Flavored Water Market would witness market growth of 9% CAGR during the forecast period (2021-2027).
Mass merchandising of the products is one of the ways through which leading market players are generating huge profit-margin. In addition to it, these companies are highly focusing on towards developing a robust distribution network. In this context, hypermarkets and supermarkets are still the most-liked distribution channel for flavored water. In addition to it, some players are deploying bundling strategies in order to improve the availability and accessibility of flavored water. Some companies are even launching products at affordable cost in order to cause higher sales due to the massive competition. There are few major strategies owing to the huge sales of flavored water with the help of mass merchandizing. These aspects are likely to create lucrative growth opportunities for the flavored water market in the next few years.
Increasing occurrences of obesity and rising awareness regarding healthy & active lifestyles among the urban population would act as catalysts for the growth of the flavored water market. The popularity of flavored water is constantly increasing due to the increasing health concerns of consumers as they are unwilling to using artificially flavored beverages and carbonated drinks. Flavored water is particularly appealing due to its health advantages and decreased switching prices, as the cost approximately the same as that of flavored water.
Reasons for the higher demand for flavored water in this region are constantly changing lifestyle patterns, the growing geriatric population, a large number of projects that focus on urbanization, and the increasing disposable income that enhances consumer’s purchasing power, thereby fueling the sales of premium products. Flavored water is witnessing massive traction as consumer health concerns are increasing lowering down the consumption of artificially flavored and carbonated drinks. Consumers are commonly inclined toward experimenting with unique flavors and then choose the best among them, and the high accessibility of various flavors and flavored water alternatives would boost the regional flavored water market.
Flavored water is a bit costly, but with the increasing income level of people in developed countries of the region such as the UAE, the consumers highly prefer this type of water for its health benefits. Moreover, the rising occurrences of obesity and growing awareness about healthy lifestyles among urban populations would accelerate the growth of the regional flavored water market.
The Sparkling market dominated the South Africa Flavored Water Market by Product in 2020, thereby, achieving a market value of $297.9 million by 2027. The Still market is expected to witness a CAGR of 10.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Flavored Water Market is Predict to reach $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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