The North America Flavored Water Market would witness market growth of 7.4% CAGR during the forecast period (2021-2027).
Flavored waters can be a healthy inclusion to your cooler or fridge. The majority of the people prefer them over soft drinks and other sugary beverages, which frequently pack excess calories and minimum to no nutritional value. Based on the type, flavored waters can be refreshing and hydrating without contributing to undesirable weight gain. Some of the varieties claim to have useful antioxidants from plant extracts and fruit juices.
Consumers, particularly the young generation and Generation Z, in well-established countries like the U.S. are willing to spend more on products like flavored water. There is a growing trend of low-carb, zero-calorie, and zero-sugar content beverages across the world, which is creating lucrative growth opportunities for the market. Berry and citrus flavors are getting highly popular because of their health benefits and refreshing tastes.
Presently, there is a massive growth of the companies operating in the North American region due to the high demand for flavored beverages in the countries of the region, particularly U.S. Sales of functional drinks have already exceeded to that of carbonated drinks in the country, thereby motivating the regional players to expand their functional offerings.
There has been a significant transformation in the beverage industry due to the increasing demand for functional water in North America. Many new players are entering the regional market with an aim to capture the massive growth opportunities and provide a functional hydration experience to consumers. Due to this, new as well as well-established players are highly focusing on creating compositions of beverages to attract consumers in favor of buying it. Moreover, increasing the disposable income of the consumers in this region will increase their purchasing power for non-essential goods. Therefore, consumers are more likely to buy these products due to their large number of benefits.
The US market dominated the North America Online Market by Country in 2020, thereby, achieving a market value of $1,004.1 million by 2027. The Canada market is experiencing a CAGR of 11.4% during 2021-2027. Additionally, The Mexico market would witness a CAGR of 10.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Flavored Water Market is Estimated 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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